Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 757

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 757
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409 |   |     |            | 20.40 |
| Vested                       |     |     (9,988 | ) |     |            |  9.60 |
| Expired/cancelled            |     |     (6,145 | ) |     |            | 10.80 |
| Balance at December 31, 2023 |     |     35,354 |   |     | $          | 15.60 |
| Granted                      |     |          — |   |     |            |       |
| Vested                       |     |     (7,879 | ) |     |            | 53.41 |
| Expired/cancelled            |     |    (12,174 | ) |     |            | 30.31 |
| Balance at December 31, 2024 |     |     15,301 |   |     | $          | 41.11 |

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common shares for those stock options that had exercise prices lower than the fair value of the Company’s common shares. The share price as of December 31, 2024, was $ 2.11and the aggregate intrinsic value for options outstanding and expected to vest each year was nil. The intrinsic value of exercisable options was nilas the exercise price was greater than the share price.

Annex F-25 NLS PHARMACEUTICS LTD. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 11 Income Taxes: The Company has Swiss tax loss carryforwards of $ 52.2million as of December 31, 2024 (December 31, 2023: $ 47.2million) of which $ 32.9million will expire within the next five years, and $ 14.3million will expire between 2030 – 2031.

The significant components of net deferred taxes as of December 31, 2024, and 2023 are shown in the following table:

| Deferred tax assets:                    |     | 2024 |            |   |     | 2023 |            |   |
|:----------------------------------------|:----|:-----|-----------:|:--|:----|:-----|-----------:|:--|
| Net benefit from tax loss carryforwards |     | $