Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 453

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 453
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 for termination of EF License Agreement for the year ended December31, 2024 was $2.5million. On August28, 2024, we agreed with Eurofarma to terminate the EF License Agreement effective September30, 2024 and we recognized $2.5million from the EF License Agreement as Other income for termination of EF License Agreement. This termination reflects a change in the Company’s strategic direction, as management has decided to discontinue the development and commercialization of its product candidate, Nolazol, in Latin American countries through a strategic partnership with Eurofarma, a Brazilian pharmaceutical company. Other Income (Expense), net Other income (expense) consists of exchange rate differences. We recognized other income of $49,351 for the year ended December31, 2024, representing a decrease of $269,163, or 122%, compared to Other expense $219,812 for the year ended December31, 2023. The increase in Other income, net was attributable to favorable exchange rate differences. Interest Expense Interest expense was $45,054, for the year ended December31, 2024 representing a decrease of $74,866, or 62%, compared to expense of $119,920, for the year ended December31, 2023. The decrease was due to less interest due to from notes payable no longer outstanding. Interest on Related Party Loans Interest on related party loans was $104,963, for the year ended December31, 2024 representing an increase of $79,730, or 316%, compared to expense of $25,233, for the year ended December31, 2023. The increase was due to a series of short -termloan agreements with certain existing shareholders of the Company that were forgiven in October 2024. Net Loss As a result of the foregoing, our net loss totaled $1,980,810 for the year ended December31, 2024, representing a decrease of $10,191,219, or 84%, compared to $12,172,029 for the year ended December31, 2023. As a pre -revenueemerging biopharmaceutical company, such losses are expected and aligned with our strategy to achieve long -termvalue through successful product development. Net Loss attributable to common shareholders Our net loss attributable to holders of NLS Common Shares for the year ended December31, 2024 was $4,056,990 and for the year ended December31, 2023 was $12