Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 456

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 456
---
 that might result from the outcome of this uncertainty. Capital Resources and Liquidity The anticipated Merger is expected to strengthen our balance sheet by reducing our leverage and increasing our equity base. This will enhance our financial flexibility and support our growth initiatives. There can be no assurance that 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 issuance of these unaudited interim condensed financial statements. 241 As of December31, 2024, our cash and cash equivalents were $1.7million. We believe that our existing cash and cash equivalents will not be sufficient to fund our projected operating requirements for a period of one year from the issuance of the financial statements included elsewhere in this proxy statement/prospectus. This raises substantial doubt about our ability to continue as a going concern. Additionally, our operating plans may change as a result of many factors that may currently be unknown to us including: •the progress and costs of the Company’s pre -clinicalstudies, clinical trials and other research and development activities; •the scope, prioritization and number of the Company’s clinical trials and other research and development programs; •any cost that the Company may incur under in- and out -licensingarrangements relating to its product candidate that it may enter into in the future; •the costs and timing of obtaining regulatory approval for the Company’s product candidates; •the costs of filing, prosecuting, enforcing and defending patent claims and other intellectual property rights; •the costs of, and timing for, strengthening the Company’s manufacturing agreements for production of sufficient clinical and commercial quantities of its product candidates; •the potential costs of contracting with third parties to provide marketing and distribution services for the Company or for building such capacities internally; and •the costs of acquiring or undertaking the development and commercialization efforts for additional therapeutic applications of the Company’s product candidates and the magnitude of the Company’s general and administrative expenses. Off-Balance Sheet Arrangements We have not engaged in any off -balancesheet arrangements, such as the use of unconsolidated subsidiaries, structured finance, special purpose entities or variable interest entities. Quantitative and Qualitative Disclosure About Market Risk We are exposed to market risks in the ordinary course of our business. Market risk represents the risk of loss that may impact our financial position due to adverse changes in financial market prices and rates. Our current investment policy is to invest available cash in bank deposits with banks that have