Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 319

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 319
---
2023. Cost of Revenues Kadimastem had no costs of revenues from operations in each of the six months ended June 30, 2024, and June 30, 2023. Research and Development Expenses Research and development expenses were $410,395 for the six months ended June 30, 2024, representing a significant decrease of $638,881 (60.9%) compared to $1,049,276 in the six months ended June 30, 2023. The decrease is a direct result of Kadimastem’s targeted efforts to streamline operations, reduce costs and enhance overall organizational productivity. These efforts included (1) reassessment and redistribution of roles to eliminate redundancies while maintaining operational effectiveness; (2) streamlining workflows, automating repetitive tasks, and adopting new technologies to reduce manual efforts and operational inefficiencies; (3) consolidating supplier relationships and renegotiating contracts to achieve better pricing and terms; and (4) prioritizing high -impactprojects and reallocating resources accordingly to maximize returns. Sales and Marketing Expenses For the six months ended June 30, 2024, sales and marketing expenses totaled $0, reflecting a 100% decrease of $76,167 compared to $76,167 for the six months ended June 30, 2023. This reduction was primarily driven by no salary costs and reduced expenditures on advertising and public relations. General and Administrative Expenses General and administrative expenses for the six months ended June 30, 2024 were $376,286 , representing a reduction of $497,222 (44.5%) compared to $678,452 for the six months ended June 30, 2023. This decrease was driven by cost -cuttingmeasures as part of Kadimastem’s ongoing efficiency program, as described further below. Operating Loss Operating loss for the six months ended June 30, 2024, was $786,681, representing a decrease of $1,016,214 (56.4%), compared to $1,802,895 for the six months ended June 30, 2023. The decrease was primarily due to the decrease in research and development expenses, sales and marketing expenses, and general and administrative expenses.

174 Financial expenses net Finance expenses, net for the six months ended June 30, 2024 were $485,111, representing an increase of $328,374 (209%), compared to $156,737 for the six months ended June 30, 2023. The