Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 329

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 329
---
 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. 178 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. 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 cash flows from operations and net loss was $1,236,329 and $1,920,100 for the six months ended June 30, 2024, and June 30, 2023, respectively. During the six months ended June 30, 2024, and June 30, 2023, Kadimastem had negative cash flows from operations of $3,121,258 and $7,312,010, respectively. As of June 30, 2024, Kadimastem’s accumulated deficit was $70,581,692. Kadimastem has funded its operations to date through equity and debt financing and have cash on hand (including short term bank deposits and restricted cash equivalents) of $678,372 as of June 30,