Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 55

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 3
Chunk 55
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 the effectiveness of our internal control over financi...  

  Section 107 of the JOBS Act, which provides that an EGC can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, or the Sec...  

  any rules that may be adopted by the Public Company Accounting Oversight Board requiring mandatory audit firm rotation or a supplement to the auditor’s report on the financial statements.  
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We intend to take advantage
of these exemptions until we are no longer an EGC. We will remain an EGC until the earlier of (1) the last day of the fiscal year (a)
following the fifth anniversary of the date of the completion of our initial public offering, (b) in which we have total annual gross
revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, as defined in the rule under the Exchange
Act, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period.

We cannot predict if investors
will find our common shares and Warrants less attractive because we may rely on these exemptions. If some investors find our common shares
and Warrants less attractive as a result, there may be a less active trading market for each such traded security, and the trading price
of each may be more volatile and may decline.

The requirements associated with being a
public company require significant company resources and management attention.

We are subject to the reporting
requirements of the Exchange Act, Nasdaq listing requirements and other applicable securities rules and regulations. The Exchange Act
requires that we file periodic reports with respect to our business and financial condition and maintain effective disclosure controls
and procedures and internal control over financial reporting. In addition, subsequent rules implemented by the SEC and Nasdaq may also
impose various additional requirements on public companies. As a result, we will incur additional legal, accounting and other expenses,
particularly after we are no longer an EGC as defined in the JOBS Act. We estimate that these expenses will be in excess of one million
dollars annually. We have made changes to our corporate governance standards, disclosure controls and financial reporting and accounting
systems to meet our reporting obligations. The measures we take, however,