Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 27

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 3
Chunk 27
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 date, the Company has not
generated significant revenues from its activities and has incurred substantial operating losses. In part because we have incurred
losses in each year since our inception, our audited financial statements for the period ended December 31, 2024 contain a disclosure
in Note 1 regarding substantial doubt about our ability to continue as a going concern. These events and conditions, along with other
matters, indicated that a material uncertainty existed as of December 31, 2024, that raises substantial doubt on our ability to continue
as a going concern. The financial statements for the year ended December 31, 2024 have been prepared assuming that we will continue
as a going concern. Management expects the Company to continue to generate substantial operating losses and to continue to fund
its operations primarily through the utilization of its current financial resources, sales of its products, and through additional raises
of capital. As of December 31, 2024, we incurred accumulated losses of approximately $74.4 million. The disclosure regarding substantial
doubt about our ability to continue as a going concern could materially limit our ability to raise additional funds through the issuance
of equity or debt securities or otherwise in the future. Further financial statements may also include a similar disclosure with respect
to our ability to continue as a going concern. Until we can generate significant recurring revenues, we expect to satisfy our future
cash needs through existing cash, debt or equity financing. We expect to require additional financing to fund our operations in the near
future. We cannot be certain that additional funding will be available to us on acceptable terms, if at all. If funds are not available,
we may be required to delay, reduce the scope of, or eliminate research or development plans for, or commercialization efforts with respect
to our products and it risks our ability to continue operating as a going concern.

We are exposed to various risks related
to legal or administrative proceedings or claims that could adversely affect our financial condition, results of operations and reputation,
and may cause loss of business.

Litigation in general can
be expensive, lengthy and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to
predict. We and/or our directors and officers may be involved in allegations, litigation or legal or administrative proceedings from time
to time.

On August 27, 2024, the Company
received correspondence from Université de Lausanne, initiating the official “audience de conciliation” procedure,
overseen by the