Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 870

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 870
---
 the carrying amounts of the assets and liabilities and their classification, should the Company not continue to operate as a going concern. d.Subsequent to the reporting date, the Company entered into definitive merger agreement (hereinafter, the “merger agreement”) with Swiss -basedNLS Pharmaceutics Ltd., whose shares are traded on the Nasdaq Capital Market (NASDAQ: NLSP), for a merger of the Company through a share exchange. For further details, see Note 7e. NOTE 2: — ACCOUNTING POLICIES a. Basis of preparation of the interim financial statements: The Interim Financial Statements have been prepared in accordance with IAS34, “Interim Financial Reporting”. The accounting policies applied in the preparation of the Interim Financial Statements are consistent with those followed in the preparation of the Annual Financial Statements, except as described below: b. Initial adoption of amendments to existing accounting standards Amendment to IAS 1, Presentation of financial statements In January 2020, the International Accounting Standards Board (“IASB”) published an amendment to IAS 1 regarding the requirements for classifying liabilities as current or non -current(hereinafter, the “Original Amendment”). In October 2022, the IASB published a subsequent amendment to the above amendment (hereinafter, the “Subsequent Amendment”). Annex G-56 KADIMASTEM LTD.
NOTES TO THE INTERIM FINANCIAL STATEMENTS NOTE 2: — ACCOUNTING POLICIES (cont.) The Subsequent Amendment stated that: •Only financial covenants with which an entity must comply on or before the reporting date will affect a liability’s classification as current or non -current. •In respect of a liability for which compliance with financial covenants is to be evaluated within twelve months from the reporting date, disclosure is required to enable users of the financial statements to assess the risks related to that liability. The Subsequent Amendment requires disclosure of the carrying amount of the liability, information about the financial covenants, and the facts and circumstances at the end of the reporting period that could result in the conclusion that the entity may have difficulty in complying with the financial covenants. According to the Original Amendment, the conversion option of a liability affects the classification of the entire liability as current or non -currentunless the conversion component is an equity instrument. The Original Amendment and Subsequent Amendment are applied retrospectively for annual periods beginning on January 1, 2024. The Company has a loan that can be converted immediately into ordinary shares