Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 322

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 322
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,306, a decrease of $184,051 (69.3%) from $265,357 for the year ended December 31, 2022. This decline was primarily attributed to reduced salary expenses and decreased spending on advertising and public relations. General and Administrative Expenses General and administrative expenses for the year ended December 31, 2023 were $1,302,799, representing a reduction of $497,222 (27.6%) compared to $1,800,021 for the year ended December 31, 2022. This decrease was driven by cost -cuttingmeasures as part of Kadimastem’s ongoing efficiency program as described above. Operating Loss Operating loss for the year ended December 31, 2023, was $2,992,075, representing a decrease of $3,562,932 (54.4%), compared to $6,555,007 for the year ended December 31, 2022. The decrease was primarily due to the decrease in research and development expenses, sales and marketing expenses, and general and administrative expenses. Financial expenses net Finance expenses, net for the year ended December 31, 2023, were $316,824, representing an increase of $56,232 (21.6%), compared to $260,592 for the year ended December 31, 2022. The increase was primarily due to the revaluation of loans from related parties and non -cashfinancing expenses of lease liabilities. Net Loss The net loss for the year ended December 31, 2023, was $3,254,424, representing a decrease of $3,511,440, (48%), compared to a net loss of $6,765,864 for the year ended December 31, 2022. The decrease is primarily due to the decrease in operating loss. 176 Liquidity and Capital Resources Kadimastem is a research and development entity that funds its operations through capital raising, convertible loans, loans from interested parties, and national and international research grants. To enhance its exposure to capital markets, Kadimastem often engages external consultants. Since Kadimastem’s inception, it has financed its operations primarily through the sale of equity securities, debt financing, convertible loans and royalty -bearinggrants that Kadimastem’s received from the Israel Innovation Authority. Kadimastem’s primary requirements for liquidity and capital are to finance working capital, capital expenditures and general corporate purposes. Kadimastem has incurred significant losses and negative