Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 777

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 777
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 completed, the advances will be eliminated in consolidation. The Company’s ability to recover these funds is dependent on the outcome of the merger transaction. As of December 31, 2024, no allowance for uncollectibility has been recorded, as management believes the amounts are recoverable.

Note 4

Property and Equipment, net:

The Company’s property and equipment consisted of the following as of December 31, 2024 and 2023:

| Cost                              |     | December 31, 
 2024         |         |   |     | 2023 |         |   |
|:----------------------------------|:----|:-------------|--------:|:--|:----|:-----|--------:|:--|
| Furniture and fixtures            |     | $            |  17,258 |   |     | $    |  13,341 |   |
| Software                          |     |              |  26,219 |   |     |      |  26,219 |   |
| Total cost                        |     |              |  43,477 |   |     |      |  39,560 |   |
| Accumulated depreciation          |     |              | (36,187 | ) |     |      | (32,866 | ) |
| Total property and equipment, net |     | $            |   7,290 |   |     | $    |   6,694 |   |

Depreciation expense was $, $ and $ for the years ended December 31, 2024, 2023 and 2022.

Note 5 Related party short-term loans: On September 28, 2023 and November 15, 2023, the Company entered into a series of short term loan agreements (the “Short Term Loan Agreements”) with certain existing shareholders of the Company, including Ronald Hafner, the Company’s Chairman of the Board of Directors, Felix Grisard, Jürgen Bauer and Maria Nayvalt, providing for unsecured loans to the Company in the aggregate amount of CHF 1,375,000($ 1,510,989). The loans bear interest at a rate of 10% per annum and mature on the earlier of December 31, 2024, or a liquidity event with a strategic partner, as amended on March 18, 2024. In October 2024, the Company entered into debt forgiveness agreements with the holders of the related