Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 453

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 453
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| Net increase (decrease) in cash and cash equivalents |     | $ |    767,715 |   |     | $ | (8,050,720 | ) |

Operating Activities Net cash used in operating activities was $4,267,884 during the year ended December31, 2024 compared with net cash used in operating activities of $9,684,466 for the year ended December31, 2023. The change in cash used in operating activities for the year ended December31, 2024 was due to our reporting a net loss of $1,980,810 for the year ended December31, 2024, compared with a net loss of $12,172,029 for the same period in 2023, driven mainly by a $7,426,950 decrease in total operating costs and a $2,499,969 increase in Other income due to the termination of EF Licensing Agreement for the year ended December31, 2024. Until we can generate significant recurring revenues, we expect to satisfy our future cash needs through debt and/or equity financings. We cannot be certain that additional funding will be available to us on acceptable terms, if at all. This may raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. If funds are not available, we may be required to delay, reduce the scope of, or eliminate research or development plans for, or commercialization efforts with respect to our product candidates. Investing Activities For the year ended December31, 2024, net cash used in investing activities was $3,917 related to purchases of property and equipment. Financing Activities Net cash provided by financing activities of $5,039,516 for the year ended December31, 2024, consisted of $5,252,725 of net proceeds from the issuance of NLS Common Shares and preferred shares in private placement offerings and $173,123 of net proceeds from the exercise of pre -funded, offset by $386,332 of equity issuance costs. Net cash provided by financing activities of $1,633,746 for the year ended December31, 2023, consisted of $1,633,746 of net proceeds from short -termloan agreements with certain existing shareholders of the Company. Current Outlook During 2024, our operations have been primarily financed through the proceeds from the sale of our NLS Common Shares, preferred shares and short term loans obtained from related