Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 370

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 370
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 Clinilabs, stating that a complaint had been filed in the Superior
Court of New Jersey. The complaint concerns three unpaid invoices totaling $886,412plus interest at a rate of6%. On June 1, 2023,
Clinilabs entered into a start-up agreement with the Company. On December 4, 2023, the Company received five credit notes and two invoices
from Clinilabs for services performed under the start-up agreement. On October 10, 2024, the Company successfully settled the outstanding
claim through a debt purchase agreement with an accredited investor, in consideration of $500,223and49,475common shares equal in
value to $279,300, which effectively resolved the creditor claim.

On December 11, 2023, the Company received a notice
alleging several causes of action, including a failure to remit payment for services rendered by CoreRX. On October 10, 2024, the Company
successfully settled the outstanding claim through a debt purchase agreement with an accredited investor, in the amount of $511,835, which
effectively resolved the creditor claim.

On June 11, 2024, the Company received a civil
court complaint filed in the Civil Court of the City of New York by Chad Hellman, the former Chief Financial Officer of the Company. The
Claimant is demanding approximately $35,171for unpaid consulting fees. The Company responded to the civil court complaint in July 2024.
On October 3, 2024, Chad Hellman dismissed his claim. The Company successfully settled the outstanding claim through payment of $36,940to Chad Hellman on October 7, 2024.

F-21

NLS PHARMACEUTICS LTD. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

On August 27, 2024, the Company received correspondence
from Université de Lausanne, initiating the official “audience de conciliation” procedure, overseen by the ordinary
civil court in Lausanne. The hearing was scheduled for October 9, 2024, at the Tribunal d’arrondissement de Lausanne. The complaint
pertains to an unpaid invoice for research services amounting to $110,179, plus interest at a rate of5%. At the hearing on October 9,
2024, Université de Lausanne was not open to discussing a potential settlement. The Company asserts that the