Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 326

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 326
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,452 for the six months ended June 30, 2023. This decrease was driven by cost -cuttingmeasures as part of Kadimastem’s ongoing efficiency program, as described further below. Operating Loss Operating loss for the six months ended June 30, 2024, was $786,681, representing a decrease of $1,016,214 (56.4%), compared to $1,802,895 for the six months ended June 30, 2023. The decrease was primarily due to the decrease in research and development expenses, sales and marketing expenses, and general and administrative expenses.

176 Financial expenses net Finance expenses, net for the six months ended June 30, 2024 were $485,111, representing an increase of $328,374 (209%), compared to $156,737 for the six months ended June 30, 2023. The increase was primarily due to the revaluation of loans from related parties and non -cashfinancing expenses of lease liabilities. Net Loss The net loss for the six months ended June 30, 2024, was $1,236,329, representing a decrease of $683,771 (35.6%), compared to a net loss of $1,920,100 for the six months ended June 30, 2023. The decrease is primarily due to the decrease in operating loss. Kadimastem Efficiency Program Kadimastem implemented an efficiency program aimed at optimizing operational costs and reducing expenditures across various functional areas. The program focused primarily on: 1. Reduction in Workforce and Service Providers— Kadimastem streamlined its workforce by reducing headcount, leading to lower salary expenses and associated costs such as benefits and social security contributions. Additionally, engagements with external service providers were scaled back to align with the company’s reduced operational scope. Pursuant to the efficacy program, the overall amount aimed to be saved under this subject is estimated at $521,333. 2. Cost Optimization in Administrative Functions— Kadimastem sought to cut costs in its general and administrative departments, including reductions in office space utilization, renegotiation of contracts with third -partyvendors, and implementation of stricter budget controls. Pursuant to the efficacy program, the overall amount aimed to be saved under this subject is estimated at $66,133. 3. Elimination of Sales and Marketing Expenses— The company ceased all sales and marketing -relatedexpenditures, eliminating related salaries, advertising, public relations, and promotional activities. Purs