Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 25

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 25
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 other general expenses. This was partially offset by lower professional services, legal services and salaries. Other Expenses (Expenses for merger with NLS) Other expenses (expenses for Merger with NLS) for the six months ended June 30, 2025 were $100,889, representing the expenses in connection with the Merger with NLS. There we no such expenses for the six months ended June 30, 2024, as the term -sheetagreement with NLS was signed in July 2024. Operating Loss Operating loss for the six months ended June 30, 2025, was $1,362,423, representing an increase of $575,742 compared to $786,681 for the six months ended June 30, 2024. The increase was primarily due to an increase in research and development expenses mainly batch, manufacturing, and share -basedcompensation in general and administrative expenses. 14 Financial expenses net Finance expenses, net for the six months ended June 30, 2025, were $9,892,996, representing an increase of $9,407,885, compared to $485,111 for the six months ended June 30, 2024. The increase was primarily due to $9,957,470 of non -cashrevaluation of convertible loans from shareholders and related parties, and other financial expenses of $30,017. These loans will be converted prior to the closing of the Merger with NLS. Net Loss The net loss for the six months ended June 30, 2025, was $11,204,458, representing an increase of $9,968,129 compared to a net loss of $1,236,329 for the for the six months ended June 30, 2024. The increase was primarily due to increase of $9,957,470 of non -cashrevaluation of convertible loans from shareholders and related parties, combined with $1,281,445 of net loss due to the other factors described above. These loans will be converted prior to the closing of the Merger with NLS. Comparison of the Years Ended December 31, 2024 and 2023 Revenues Kadimastem had no revenues from operations in each of the years ended December 31, 2024, and December 31, 2023. Cost of Revenues Kadimastem had no costs of revenues from operations in each of the years ended December 31, 2024, and December