Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 53

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 3
Chunk 53
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 indicated that we would be provided
with a period of 45 calendar days to submit a plan to regain compliance, and if such plan is accepted by Nasdaq, we may be granted
up to 180 calendar days from January 9, 2024 in which to regain compliance. On February 23, 2024, we submitted our plan, on time, to
regain compliance with Nasdaq Listing Rule 5550(b)(1). On March 7, 2024, the Staff notified us that Nasdaq had accepted the plan
submitted and the Company has been afforded an additional 180 day calendar days from the date of the letter, or until July 8, 2024,
to evidence compliance.

On April 17, 2024, we received
a determination letter from the Staff that, unless we timely request a hearing before a Nasdaq Hearings Panel (the “ Panel”),
our securities would be subject to delisting due to our failure to maintain at least a $1.00 bid price per share over the course of 30
consecutive business days pursuant to Nasdaq Listing Rule 5550(a)(2). In addition, on May 22, 2024, we also received an additional determination
letter from the Staff notifying us that we did not comply with the minimum $2,500,000 stockholders’ equity requirement for continued
listing set forth in Nasdaq Listing Rule 5550(b), and that the additional delinquency may serve as a separate basis for the delisting
of our securities from Nasdaq. We requested a hearing with the Panel, and on June 4, 2024, we presented our compliance plan to the Panel.
The Panel granted us an extension until October 14, 2024, to regain compliance with Nasdaq Listing Rule 5550(a)(2) and Nasdaq Rule
5550(b)(1), subject to us meeting certain financial, share price and other requirements by September 3, 2024 and October 14, 2024.

On September 27, 2024, we
effectuated a 1-for-40 reverse share split in order to regain compliance with Nasdaq Listing Rule 5550(a)(2). On September 27, 2024, the
Panel reconfirmed to us that we had until October 14, 2024 to regain compliance with Nasdaq Listing Rule 5550(a)(2) and 5550(b)(1).
On October 28,