Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 311

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 311
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643 for the six months ended June 30, 2024, representing a decrease of $167,770, or 265.8%, compared to expense of $63,127 for the six months ended June 30, 2023. The increase in income was attributable to favorable exchange rate differences. Interest Expense Interest expense consists of interest on notes payable, imputed interest and interest expenses on related parties short term loans. Interest expense was $86,985 for the six months ended June 30, 2024, representing an increase of $86,856, or 67,330.2%, compared to $129 for the six months ended June 30, 2023. The increase was partly attributable to interest on short term notes payable for D&O insurance. In 2023, the entire annual policy was prepaid and not financed through short term notes payable. Additionally, the increase was attributable to the 10% interest on the short term loan, which was only utilized at the end of 2023.

167

Net Loss As a result of the foregoing, our net loss totaled $2,035,834 for the six months ended June 30, 2024, representing a decrease of $5,576,905, or 73.2%, compared to $7,612,739 for the six months ended June 30, 2023. Liquidity and Capital Resources Overview As of June 30, 2024, we had $552,758 in cash and cash equivalents. The table below summarizes our cash flows for the six months ended June 30, 2024 and 2023:

|                                                              |     | For the Six Months Ended 
 June 30,                 
 2024                     |            |   |     | 2023 |            |   |
|:-------------------------------------------------------------|:----|:-------------------------|-----------:|:--|:----|:-----|:-----------|:--|
| Net cash used in operating activities                        |     | $                        | (1,530,498 | ) |     | $    | (7,296,532 | ) |
| Net cash provided by financing activities                    |     |                          |  1,185,576 |   |     |      | —          |   |
| Effect of exchange rate changes on cash and cash equivalents |     |                          |          — |   |     |      | (416       | ) |
| Net decrease in cash and cash equivalents                    |     | $                        |