Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 735

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 735
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Taxation NLS Pharmaceutics is subject to corporate Swiss federal, cantonal and communal taxation in the Canton of Zurich, Switzerland. We are entitled under Swiss laws to carry forward any losses incurred for a period of seven years and can offset our losses carried forward against future taxes. As of December 31, 2023, we had tax loss carryforwards totaling $40.9 million. There is no certainty that we will make sufficient profits to be able to utilize these tax loss carryforwards in full. As such, we have recorded a 100% valuation on these tax loss carryforwards. The effective corporate income tax rate (federal, cantonal and communal) where we are domiciled is currently 10.6%. Notwithstanding the corporate income tax, the corporate capital is taxed at a rate of 0.1% (cantonal and communal tax only, as there is no federal tax on capital). Value Added Tax, or VAT, is charged on all qualifying goods and services by VAT -registeredbusinesses. An amount of 7.7% of the value of the goods or services is added to all sales invoices and is payable to the Swiss tax authorities. Similarly, VAT paid on purchase invoices is reclaimable from the Swiss tax authorities. Results of Operations The numbers below have been derived from our audited financial statements included elsewhere herein. The discussion below should be read along with these financial statements and it is qualified in its entirety by reference to them. Comparison of the Year Ended December 31, 2023 to the Year Ended December 31, 2022

|                                             |     | For the Year Ended 
 December 31,       |        2023 |   |     |   |        2022 |   |
|:--------------------------------------------|:----|:-------------------|------------:|:--|:----|:--|------------:|:--|
| Research and development expenses           |     | $                  |   5,908,288 |   |     | $ |   8,976,643 |   |
| General and administrative expenses         |     |                    |   5,898,775 |   |     |   |   6,505,721 |   |
| Operating loss                              |     |                    | (11,807,063 | ) |     |   | (15,482,364 | ) |
| Other income (expense), net                 |     |                    |    (219,812 | ) |