Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 76

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 76
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 on (i) earnings by the Company in a specified region or country for licensed products covered by patents, (ii) whether the applicable patent has not been granted to the applicable product at the time of commercialization of such product and (iii) whether the Company challenges the validity of a patent. The Company made an upfront payment of $ 30,000for the option exclusivity and $ 170,000upon execution of the definitive agreement to exercise the option for the Aexon Agreement, of which $ 40,000was paid in cash and the remaining $ 130,000was paid in 23,028common shares. In addition, Aexon will receive 15% of all proceeds earned by the Company in any future sub -licensingagreements. The Company must also make royalty payments to Aexon upon the occurrence of certain milestones. Such payments upon the occurrence of milestones contemplated in the Aexon Agreement range from $ 100,000to $ 300,000, in addition to percentage royalty payments ranging from 5% to 15% which may decrease or increase up to 30% if the Company challenges the validity of the patents under the agreement, depending on the result of such challenge. Further, pursuant to the Aexon Agreement, the Company has agreed to pay Aexon a percentage of license fees, milestones and royalties received from sublicensees, ranging between 5% and 15% which may decrease or increase up to 30% if the Company challenges the validity of the patents under the agreement, depending on the result of such challenge. For the six months ended June 30, 2025, the Company recorded fees to Aexon of $ 50,000which is included in research and development expenses on the statement of operating and comprehensive loss. In October 2024, the Company entered into a consulting agreement with Ms. Nicole Fernandez -McGovern, the Company’s current Chief Financial Officer, pursuant to which the Company agreed to pay Mr. Fernandez -McGoverna monthly retainer for her services of $ 18,000per month. For the six months ended June 30, 2025, the Company recorded fees to Ms. Fernandez -McGovernof $ 108,000which is included in general and administrative expenses on the statement of operating and comprehensive loss.

Note 8

Revisions of previously issued financial statements:

The Company identified an error in the classification of Preferred Shares and common shares within shareholders’ equity on the Consolidated Balance Sheets as of December