Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 823

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 823
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 royalties, are expected as a result of the research and development activities. There is uncertainty regarding the estimated future cash flows that were used to determine the total liability. Determining the Fair Value of a Non-Marketable Financial Instrument — Convertible Loan The fair value of a non -marketablefinancial instrument classified within Level 3 of the fair value hierarchy is determined based on valuation techniques. Fair value is generally estimated based on the assessment of future cash flows discounted at current discount rates for items with similar terms and risk characteristics. Changes in the estimates of future cash flows and discount rates, taking into account risk assessments such as liquidity risk, credit risk, and volatility, which constitute unobservable data, may affect the fair value of the financial instrument. NOTE 4: — CASH AND CASH EQUIVALENTS

|                               |     |      December 31 |     |       |
|                               |     |             2024 |     |  2023 |
|                               |     | USD in thousands |     |       |
| Cash for immediate withdrawal |     |              650 |     | 1,146 |
|                               |     |              650 |     | 1,146 |

Note 5: — Accounts receivable

|                                                        |     |      December 31 |     |      |
|                                                        |     |             2024 |     | 2023 |
|                                                        |     | USD in thousands |     |      |
| Government authorities                                 |     |               69 |     |   35 |
| Income receivable from the IIA and the BIRD Foundation |     |                — |     |  401 |
| Prepaid expenses                                       |     |               61 |     |   15 |
|                                                        |     |              130 |     |  451 |

Note 6: — Leases The Company has lease agreements that include leases on buildings, equipment, and vehicles that are used for the Company’s current operations. The lease agreements for the building, equipment, and vehicles have expired, and as of December 31, 2024, there is no asset or liability balance in respect thereof.

Annex G-14

KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS Note 6: — Leases (cont.) In 2024, a new lease agreement was signed for a building for one year only, and the Company’s management estimates that it will not exercise the extension option, and accordingly the asset and the liability in respect