Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 836

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 836
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 |     |         3.8 | % |     |       3.85 |   |
| Risk-free interest – warrants             |     |         3.6 | % |     |        3.6 | % |
| Life expectancy (years)                   |     |        1.17 |   |     |       1.25 |   |

Annex G-28

KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS NOTE 15: — CONVERTIBLE LOAN AND CONVERSION COMPONENT OF CONVERTIBLE LOAN AND WARRANTS (cont.) Below is the movement in the conversion and financial derivative component:

|                                                                                                       |     | Year ended on 
  December 31, 
          2023 |   |
|:------------------------------------------------------------------------------------------------------|:----|--------------:|:--|
|                                                                                                       |     |        USD in 
     thousands |   |
| Balance as of January 1                                                                               |     |             — |   |
| Initial recognition                                                                                   |     |           943 |   |
| Financing income in respect of the revaluation of a financial derivative and the conversion component |     |           (35 | ) |
| Revaluation recognized in OCI                                                                         |     |            94 |   |
| Balance as of December 31                                                                             |     |         1,002 |   |

The measurement of the value of the conversion component and the financial derivative is classified under level 3 in the fair value hierarchy. As of the reporting date, the Company recognized financing expenses in respect of interest party loan revaluations, at USD $25 thousand. Note 16: — Taxes on income A. The tax rates applicable to the Company The Israeli corporate income tax was 23% in 2023, 2022, and 2021. A Company is taxable on its real capital gains at the corporate income tax rate in the year of sale. B. Deferred taxes The Company has business losses and capital losses for tax purposes that are carried forward to the following years and amount to USD $57,177 thousand (NIS 207,383 thousand) as of December 31, 2023. Deferred tax assets were recognized in the financial statements in respect of these losses (up to the total liability for deferred taxes), at USD $836 thousand (in 2022 — USD $839 thousand). C. Final tax assessments Final tax assessments were issued for the Company, up to and including the 2019 tax year.

Annex G-29