Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 376

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 376
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1,321,961  
  Exercises                         ( 191,431  
  Expired                             ( 7,696  
  Balance at December 31, 2024      1,598,962  

The intrinsic value of exercisable but unexercised
in-the-money common share warrants at December 31, 2024 was$ 344,802

Option Plan

On December 14, 2021, the Board of Directors adopted
the Share Option Plan Regulation 2021 (the “ Option Plan”). The purpose of the Option Plan is to retain, attract and motivate
management, employees, directors and consultants by providing them with options to purchase the Company’s common shares. The Board
of Directors allocated fifteen percent (15%) of the Company’s fully diluted shares to awards that may be made pursuant to the Option
Plan.

The exercise prices, vesting and other restrictions
of the awards to be granted under the Option Plan are determined by the Board of Directors, except that no stock option may be issued
with an exercise price less than the fair market value of the common shares at the date of the grant or have a term in excess often years.
Options granted under the Option Plan are exercisable in whole or in part at any time subsequent to vesting.

The following table summarizes total stock option
activity for the year ended December 31, 2024:

                                                                         Weighted             
  Balance at December 31, 2022                               33,328      $             49.20  
  Granted                                                    19,409                    30.40  
  Exercised                                                       -                           
  Expired/cancelled                                         ( 6,145                    39.60  
  Balance at December 31, 2023                               46,591      $             42.74  
  Granted                                                         -                        -  
  Exercised                                                       -                        -  
  Expired/cancelled                                        ( 12,174      $             30.31  
  Balance at December 31, 2024                               34,417      $             47.14  
  Options vested and exercisable at December 31, 2024        19,116      $             51.95  

The weighted average remaining contractual life of each of the options
outstanding at December 31, 2024 was7.62years.

Stock-based compensation expense was $125,644, $164,906, and $22,730for the years ended December 31,