Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 404

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 404
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 Proceedings From time to time NLS may become involved in legal proceedings that arise in the ordinary course of business. During the period covered by the financial statements contained herein, NLS was not subject to any material legal proceedings that has had a material adverse effect on its financial position, except as described below. No assurance can be given that future litigation will not have a material adverse effect on NLS’s financial position. When appropriate in management’s estimation, NLS may record reserves in its financial statements for pending litigation and other claims. 201 Cambrex Corporation On December 1, 2023, NLS received a letter from Cambrex Corporation, stating that as of December 1, 2023, NLS had an overdue balance for services completed under certain proposals by and between the Company, Cambrex High Point, Inc. and Avista Pharma Solutions, Inc. in the aggregate amount of $492,723.23. On October 10, 2024, the Company successfully settled the outstanding claim through a debt purchase agreement with an accredited investor, in the amount of $200,013, which effectively resolved the creditor claim. Clinilabs, Inc. On August 21, 2024, the Company received a letter from Dunn Lambert LLC, the law firm representing Clinilabs, stating that a complaint had been filed in the Superior Court of New Jersey. The complaint concerns three unpaid invoices totaling $886,412.46, plus interest at a rate of 6%. On June 1, 2023, Clinilabs entered into a start -upagreement with NLS. On December 4, 2023, NLS received five credit notes and two invoices from Clinilabs pursuant to services performed by Clinilabs under the start -upagreement. Clinilabs demanded $793,112.46 from NLS for unpaid service fees. On October 10, 2024, the Company successfully settled the outstanding claim through a debt purchase agreement with an accredited investor, in consideration of $500,222.91 and 49,475 NLS Common Shares equal in value to $279,299.90, which effectively resolved the creditor claim. CoreRX, Inc. On December 11, 2023, NLS received a notice alleging several causes of action, including a failure to remit payment for services rendered by CoreRX. On December 11, 2023, NLS and CoreRX agreed to a structured payment plan in which NLS agreed to pay CoreRX a total amount