Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 66

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 66
---
, independent registered public accounting firm, as set forth in their reports thereon (which contains
an explanatory paragraph describing conditions that raise substantial doubt about Kadimastem’s ability to continue as a going concern
as described in Note 1B to the financial statements).

<div align='center'>36

ENFORCEABILITY OF CIVIL LIABILITIES</div>

We are incorporated under
the laws of Switzerland and our registered office and domicile is located in Kloten (Zurich), Switzerland. Moreover, a majority of our
directors and senior management are not residents of the United States, and all or a substantial portion of our assets are located outside
the United States. As a result, it may not be possible for investors to effect service of process within the United States upon us or
upon such persons or to enforce against them judgments obtained in U.S. courts, including judgments in actions predicated upon the civil
liability provisions of the federal securities laws of the United States.

We have been advised by our
Swiss counsel that there is doubt as to the enforceability in Switzerland of original actions, or in actions for enforcement of judgments
of U.S. courts, of civil liabilities to the extent predicated upon the federal and state securities laws of the United States. Original
actions against persons in Switzerland based solely upon the U.S. federal or state securities laws are governed, among other things, by
the principles set forth in the Swiss Federal Act on International Private Law. This statute provides that the application of provisions
of non-Swiss law by the courts in Switzerland shall be precluded if the result was incompatible with Swiss public policy. Also, mandatory
provisions of Swiss law may be applicable regardless of any other law that would otherwise apply.

Switzerland and the United
States do not have a treaty providing for reciprocal recognition and enforcement of judgments in civil and commercial matters. The recognition
and enforcement of a judgment of the courts of the United States in Switzerland is governed by the principles set forth in the Swiss Federal
Act on Private International Law. This statute provides in principle that a judgment rendered by a non-Swiss court may be enforced in
Switzerland only if:

| ● | the non-Swiss court had jurisdiction                            
 pursuant to the Swiss Federal Act on Private International Law; |

| ● | the judgment of such non-Swiss                               
 court has become final or non-appealable by ordinary appeal; |

| ● | the judgment does not contravene 
 Swiss public policy;