Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 661

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 661
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 and high inflation, or political instability in particular foreign economies and markets; •business interruptions resulting from a local or worldwide pandemic, pandemics (such as the COVID -19pandemic), geopolitical instability (such as the war in Ukraine), and other conditions beyond our control; •the granting or exercise of employee stock options or other equity awards; and •changes in investors’ and securities analysts’ perception of the business risks and conditions of our business. In addition, the stock market in general, and Nasdaq in particular, have experienced extreme price and volume fluctuations that have often been unrelated or disproportionate to the operating performance of small companies. For example, during 2022, the sale prices of our common shares ranged from a high of $2.40 per share to a low of $0.33 Annex F-29 per share and during 2023, the sale prices of our common shares ranged from a high of $1.88 per share to a low of $0.26 per share. During this time, we do not believe that we have experienced any material changes in our financial condition or results of operations that would explain such price volatility or trading volume; however, we have sold equity which was dilutive to existing shareholders. These broad market fluctuations may adversely affect the trading price of our securities. Additionally, these and other external factors have caused and may continue to cause the market price and demand for our common shares to fluctuate substantially, which may limit or prevent our shareholders from readily selling their shares and may otherwise negatively affect the liquidity of our shares. We have identified material weaknesses in our internal control over financial reporting. If our remediations are not effective, or if we experience additional material weaknesses in the future or otherwise fail to maintain an effective system of internal controls in the future, we may not be able to accurately or timely report our financial conditions or results or operations, or prevent fraud, which may adversely affect investor confidence in our Company and as a result, the market price of our common shares and Warrants. As a public company, we are required to maintain internal control over financial reporting and will be required to report any material weaknesses in such internal control. Section 404 of the Sarbanes -OxleyAct of 2002, or the Sarbanes -OxleyAct, requires that we include a report from management on the effectiveness of our internal control over financial reporting in our annual report on Form 20 -F. In addition, once we cease to be an EGC as such term is defined in the