Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 254

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 254
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 option to sell to Alpha up to $25.0 million of the common
shares, subject to certain conditions and limitations set forth in the Facility SPA. As a result of these actions, the Company believes
that, as of the date of this report, it satisfies the stockholders’ equity requirement of at least $2.5 million pursuant to Nasdaq
Listing Rule 5550(b)(1) for continued listing on the Nasdaq Capital Market.

Accordingly, the
2024 consolidated financial statements have been prepared in conformity with U. S. GAAP, which contemplate our continuation as a going
concern for a period within one year from the issuance of our 2024 financial statements and the realization of assets and satisfaction
of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in these consolidated financial
statements do not necessarily purport to represent realizable or settlement values. Our 2024 consolidated financial statements do not
include any adjustment that might result from the outcome of this uncertainty.

Capital Resources
and Liquidity

In
connection with the merger transaction, we have prepared the following unaudited pro forma balance sheets to illustrate the impact of
this transaction. The following table compares our historical balance sheets as of December 31, 2024 with the pro forma capitalization
as adjusted for the implemented transaction.

  on                

  On                                                                

  (i)      the sale of 161,290 common shares at                                                         
           a purchase price of $3.10 per share on January 9, 2025 pursuant to December 2024 securities  
           purchase agreement which generated net proceeds of $475,000;                                 
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  (ii)      the                                                                                                                                            

  (iii)      the sale                                                                                        

  (iv)      the par value of the preferred and common shares change from CHF 0.80  
            to CHF 0.03 per share, effective January 17, 2025.                     
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The
information in this table should be read in conjunction with and is qualified by reference to our consolidated financial statements
and related notes included elsewhere in this annual report.

                                                                                                                                                                                                            As of December 31, 2024                                                   
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