Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 455

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 455
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4, our cash and cash equivalents were $1.7million. 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 from the issuance of these consolidated financial statements. We expect to continue to generate operating losses and negative operating cash flows for the next few years and will need additional funding to support its planned operating activities through profitability. We are actively exploring a range of options to raise funds, including strategic partnerships, out -licensing, or divestment of our assets, and other future strategic actions. During October 2024, we completed a private financing round, debt conversions and forgiveness, and various vendor buy -outs. Additionally, on November4, 2024, we entered into the Merger Agreement. Our future viability is dependent on our ability to raise capital for payment of our vendors and to support on -goingoperations. There can be no assurance that such capital will be available within a sufficient period of time, in sufficient amounts or on terms acceptable to us. These conditions raise substantial doubt about our ability to continue as a going concern beyond one year from the date of issuance of our 2024 consolidated financial statements. Since the fiscal year ended December31, 2024, the Company has undertaken a number of actions which have increased its shareholders’ equity, including, among other actions, (i) the sale of securities for approximately $3.0 million in gross proceeds under the March 2025 SPA, and (ii) signing a Facility SPA, under which the Company has the right from time to time at its option to sell to Alpha up to $25.0million of the NLS 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 $2.5million 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