Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 456

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 456
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 that might result from the outcome of this uncertainty. If funds are not available, we may be required to delay, reduce the scope of, or eliminate research or development plans for, or commercialization efforts with respect to our product candidates. Investing Activities For the year ended December31, 2024, net cash used in investing activities was $3,917 related to purchases of property and equipment. Financing Activities Net cash provided by financing activities of $5,039,516 for the year ended December31, 2024, consisted of $5,252,725 of net proceeds from the issuance of NLS Common Shares and preferred shares in private placement offerings and $173,123 of net proceeds from the exercise of pre -funded, offset by $386,332 of equity issuance costs. Net cash provided by financing activities of $1,633,746 for the year ended December31, 2023, consisted of $1,633,746 of net proceeds from short -termloan agreements with certain existing shareholders of the Company. Current Outlook During 2024, our operations have been primarily financed through the proceeds from the sale of our NLS Common Shares, preferred shares and short term loans obtained from related parties at the end of 2023. We have incurred losses and generated negative cash flows from operations since inception in 2015. To date we have not generated revenues, and we do not expect to generate any significant revenue from the sale of our product candidates in the near future. We expect to generate losses for the foreseeable future, and these losses could increase as we continue product development until we successfully achieve regulatory approvals for our product candidates and begin to commercialize any approved products. We are subject to all the risks pertinent to the development of new products, and we may encounter unforeseen expenses, difficulties, complications, delays and other unknown factors that may harm our business. We expect to continue to incur additional costs associated with operating as a public company and we

241 anticipate that we will need substantial additional funding in connection with our continuing operations. If we need to raise additional capital to fund our operations and complete our ongoing and planned clinical studies, funding may not be available to us on acceptable terms, or at all. As of December31, 2024, our cash and cash equivalents was $1.7 million. Our existing cash and cash equivalents and access to existing financing arrangements will not be sufficient to fund operations for a period of one year as of December31, 2024. We expect to continue to generate operating losses and negative operating