Company: NCEL
Filing Date: 2025-11-06
Form Type: POS AM
Source: 0001213900-25-106799
Chunk: 78

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 78
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pharmaceuticalcompany that develops industrial regenerative medicine therapies based on differentiated cells derived from Human Embryonic Stem Cells (hESCs) to treat neuro -degenerativediseases such as ALS and Diabetes. B.These financial statements have been prepared in a condensed format as of June 30, 2025, and for the period of six months then ended (“interim financial statements”). These financial statements should be read in conjunction with the Company’s annual financial statements as of December 31, 2024, and for the year then ended and accompanying notes (“annual financial statements”). C.During the period of six months ended June 30, 2025, the Company incurred a loss and had negative cash flows from operating activities of $11,204 thousand and $616 thousand, respectively. As of June 30, 2025, the Company’s shareholders’ deficit, accumulated deficit, and negative working capital amounted to $15,081 thousand, $87,734 thousand, and $15,187 thousand, respectively. The Company’s ability to continue its operations depends on raising resources to finance its operations. The Company plans to finance its operations through loans from investors and the sales of its equity securities, which include, but not limited to, (i) proceeds to be received from private placement transactions, (ii) proceeds to be received from public offerings on the TASE, (iii) issuance of rights to its current shareholders and (iv) completion of merger transaction following to Agreement of Merger and Plan of Reorganization (as amended, the “Merger Agreement”) executed on November 5, 2024 with the NLS Pharmaceutics Ltd. (“NLS”), a Swiss company, whose shares are traded on the Nasdaq Capital Market (the “Nasdaq”), for a merger with the Company through a share exchange transaction. For more information regarding the merger transaction, see also Note 3F and Note 6A below. However, there is no assurance as to the Company’s ability to generate income or raise additional equity in the future, if at all. These factors raise substantial doubt as to whether the Company will be able to continue as a going concern. The financial statements do not include any adjustments relating to the carrying amounts of assets or liabilities and their classification that might be necessary should the Company be unable to continue as a going concern. NOTE 2 — MATERIAL ACCOUNTING POLICIES A.Basis of presentation The interim condensed financial statements have been prepared in accordance with generally accepted accounting principles for the preparation