Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 352

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 352
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,000 has been paid in cash and $550,000 has been accrued for purposes of payment subsequent to the closing; (I)Adjustment to record non -recurringKadimastem transaction costs of approximately $500,000 for legal, audit and other professional service provider expenses that were not incurred or accrued as of June30, 2024. All transactions costs were incurred and recorded subsequent to June30, 2024 and $400,000 has been paid in cash and $100,000 has been accrued for purposes of payment subsequent to the closing; (J)Adjustment to eliminate deferred revenue of $2,499,969 related to termination of EF License Agreement on August 28, 2024, effective as of September 30, 2024; (K)Adjustment for $706,176 for conversion of certain of the Company’s preferred participation certificates, par value CHF 0.03 per certificate, or the PPCs, pursuant to the October Debt SPA into 725,000 common shares issued and 75,000 anti -dilutioncommon shares issued to satisfy the anti -dilutionrights of the Selling Shareholder under the October Debt SPA; (L)Adjustment of $13,518 to record 408,871 PPCs convertible into common shares issued in addition to anti -dilutioncommon shares referenced above in satisfaction of the anti -dilutionrights of the Selling Shareholder under the October Debt SPA; (M)Adjustment for the six months ended June30, 2024 of $84,292 and $139,481 for the twelve months ended December31, 2023 to accelerate share -basedcompensation expense for NLS options based on IFRS accounting requirements at closing of merger; (N)Elimination of accumulated deficit of NLS Pharmaceuticals of $69,170,622 at closing of merger; (O)Adjustments to reflect the modified par value of $2,983 for NLS Common and $3,748,123 for NLS Preferred Capital Shares as approved on January14, 2025 by the shareholders of the Company from CHF 0.80 to CHF 0.03 per share, effective January17, 2025; (P)Adjustment for gross cash proceeds of approximately $2,500,000 related to loans and associated warrants converted and exercised at the time of Closing. The loan agreements entered on October16, 2023, from several shareholders include warrants that will be granted to the