Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 326

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 326
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 In the years 2021 to 2024, the company received grants from the Bird Foundation, the Israel Innovation Authority and the Australian Innovation Authority totaling USD $2.4million Net cash provided by financing activities for the six months ended June 30, 2024, amounted to $925,173, representing a decrease of $4,037,907, (81%), compared to $4,963,080 for the six months ended June 30, 2023. This decrease was primarily due to capital raised by Kadimastem during June 30, 2024 compared to the previous period. Net cash provided by financing activities for the year ended December 31, 2023, amounted to $2,328,073, representing an increase of $1,218,993, (109%), compared to $1,109,080 for the year ended December 31, 2022. This increase was primarily due to capital raised by Kadimastem and proceeds from a convertible loan during the reporting period. During the six months ended 2024, the cash flow from financing activities included the receipt of a convertible loan from shareholders totaling $458 thousands, of which remains outstanding. Critical Account Estimates The valuation of financial instruments, including the convertible loan components and options, depends on assumptions such as market volatility, interest rates, and discount rates, all of which are sensitive to market fluctuations. Deferred taxes require projections of future taxable income, influenced by economic conditions and Kadimastem’s ability to generate profits. Similarly, the recoverability of intangible assets, such as goodwill, relies on future cash flow projections and discount rates, which are impacted by regulatory approvals and market conditions. Kadimastem’s going 178 concern assumption also faces uncertainty, because it depends on securing additional funding and increasing revenues to address operational deficits. Interest rates play a critical role in these estimates, as they influence borrowing costs and the valuation of financial assets and liabilities. The accounting for expected R&D grants involves assumptions about the timing and amount of receipts, which can be uncertain due to regulatory processes and associated conditions. Quantitative and Qualitative Disclosure About Market Risk Kadimastem is exposed to market risks in the ordinary course of Kadimastem’s business. Market risk represents the risk of loss that may impact Kadimastem’s financial position, results of operations or cash flows due to adverse changes in financial market prices and rates, including interest rates and foreign exchange rates, of financial instruments. Interest Rate Risk Following the date of this registration statement,