Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 465

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 465
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 2022. This decline was primarily attributed to reduced salary expenses and decreased spending on advertising and public relations. 248 General and Administrative Expenses General and administrative expenses for the year ended December31, 2023 were $1,302,799, representing a reduction of $497,222 (27.6%) compared to $1,800,021 for the year ended December31, 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 December31, 2023, was $2,992,075, representing a decrease of $3,561,932 (54.3%), compared to $6,554,007 for the year ended December31, 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 December31, 2023, were $316,824, representing an increase of $56,232 (21.6%), compared to $260,592 for the year ended December31, 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 December31, 2023, was $3,254,424, representing a decrease of $3,510,440 (52%), compared to a net loss of $6,764,864 for the year ended December31, 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’s net loss during the fiscals years ended December31, 2024, December31, 2023 and December31, 2022 was $7,178,333, $3,254,