Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 749

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 749
---
 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. 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 of 5%. At the hearing on October 9, 2024, Université de Lausanne was not open to discussing a potential settlement. The Company asserts that the services provided did not meet the required standard of care and intends to defend its position. On 9 May 2025, the Company filed a statement of defense and asserted a counterclaim in CHF 30,000plus compensatory interests at a rate of 5% per annum since June 29, 2022. Annex F-21 NLS PHARMACEUTICS LTD. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 10 Equity: Preferred Shares In October 2024, the Company amended and restated its Articles of Association to designate 806,452of preferred shares with a par value of 0.80CHF in connection with the execution of a securities purchase agreement. The preferred shares have the following rights, preferences and privileges: •Accrue dividends at an annual rate of eight percent ( 8%) of the stated value of the preferred shares from the date of issuance; •Stated value and initial conversion price of $ 4.96, subject to adjustment, for stock splits, dividends and subsequent equity sales and issuances below the initial conversion price; •Have no voting rights; Upon any liquidation, dissolution or winding up of the Company, the preferred shareholders will be