Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 361

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 361
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 successfully implemented restructuring measures resulting in decreased payments to vendors, reduction in bonus accruals and employee related costs associated with the six months ending June30, 2024 (for more information please see “ NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Capital Resources and Liquidity”); (I)Adjustment to record the conversion of related party debt holders for a total of $2,788,650 into 493,986 common shares on October10, 2024, as a result of successfully implemented restructuring measures. The conversion was facilitated through an ordinary capital increase thereby providing the necessary shares for the debt holders and converted $1,512,319 in loans from related parties and $1,276,331 in trade payables to related parties; Adjustment to remove $75,973 of interest expenses related to loans converted at closing as noted above as if merger took place January1, 2023, for the six months ended June30, 2024; Adjustment to remove $25,234 of interest expenses related to loans converted at closing as noted above as if merger took place January1, 2023, for the twelve months ended December31, 2023; (J)Adjustment to record non -recurringNLS transaction costs of approximately $1,050,000 for legal, audit and other professional service provider expenses and director and officer tail insurance that were not incurred or accrued as of June30, 2024. All transactions costs were incurred and recorded subsequent to June30, 2024 and $500,000 has been paid in cash and $550,000 has been accrued for purposes of payment subsequent to the closing; Adjustment to record non -recurringKadimastem transaction costs of approximately $500,000 for legal, audit and other professional service provider expenses that were not incurred or accrued as of June30, 2024. All transactions costs were incurred and recorded subsequent to June30, 2024 and $400,000 has been paid in cash and $100,000 has been accrued for purposes of payment subsequent to the closing; (K)Adjustment to eliminate deferred revenue of $2,499,969 related to termination of EF License Agreement on August 28, 2024, effective as of September 30, 2024; (L)Adjustment for $706,176 for conversion of certain of the Company’s preferred participation certificates, par value CHF 0.03 per certificate, or the PPCs, pursuant to the October Debt