Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 255

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 255
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 our balance sheet by reducing our leverage and increasing our equity base. This will enhance our
financial flexibility and support our growth initiatives.

There
can be no assurance that capital will be available within a sufficient period of time, in sufficient amounts or on terms acceptable to
us. These conditions raise substantial doubt about our ability to continue as a going concern beyond one year from the issuance of these
unaudited interim condensed financial statements.

As
of December 31, 2024, our cash and cash equivalents were $1.7 million. We believe that our existing cash and cash equivalents will not
be sufficient to fund our projected operating requirements for a period of one year from the issuance of the financial statements included
elsewhere in this annual report. This raises substantial doubt about our ability to continue as a going concern. Additionally, our operating
plans may change as a result of many factors that may currently be unknown to us including:

  the progress and costs                                                                                                                     
  the scope, prioritization                                                                                                                  
  any cost that the Company                                                                                                                  
  the costs and timing of                                                                                                                    
  the costs of filing, prosecuting,                                                                                                          
  the costs of, and timing                                                                                                                   
  the potential costs of                                                                                                                     
  the costs of acquiring                                                                                                                     

Off-Balance
Sheet Arrangements

We
have not engaged in any off-balance sheet arrangements, such as the use of unconsolidated subsidiaries, structured finance, special
purpose entities or variable interest entities.

Quantitative
and Qualitative Disclosure About Market Risk

We
are exposed to market risks in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial
position due to adverse changes in financial market prices and rates. Our current investment policy is to invest available cash in bank
deposits with banks that have a credit rating of at least A-. Accordingly, a substantial majority of our cash and cash equivalents is
held in deposits that bear interest. Given the current low rates of interest we receive, we will not be adversely affected if such rates
are reduced. Our market risk exposure is primarily a result of foreign currency exchange rates, which is discussed in detail in the following
paragraph.

Foreign Currency
Exchange Risk

Our
results of operations and cash flow are subject to fluctuations due to changes in foreign currency exchange rates. As discussed above,
the vast majority of our liquid assets is held in U. S. dollars, and a certain portion of our expenses are denominated in CHF or