Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 352

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 352
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 statements include: (1) adjustments to record cash from capital investments, (2) the elimination of fixed assets from NLS’s balance sheet, (3) the conversion of certain of NLS’s accounts payable, trade payables, and loans from related parties into NLS Common Shares, (4) conversion of convertible component of Kadimastem’s loan along with exercise of warrants increasing cash balance, (5) adjustments eliminating deferred revenue due to termination of a licensing agreement and (6) as part of the reverse triangular merger, an adjustment to eliminate the deficit accumulated since inception for NLS, as going forward the operations of Kadimastem will be the surviving operating entity. 192

Kadimastem Ltd. & NLS Pharmaceutics Ltd.
Unaudited Pro Forma Condensed Combined Balance Sheets

|                                                                                       |     | June 30, 2024 |            |     |                  |            |     |             |             |   |     |       |     |             |             |   |     |       |     |           |            |
|:--------------------------------------------------------------------------------------|:----|:--------------|-----------:|:----|:-----------------|-----------:|:----|:------------|------------:|:--|:----|:------|:----|:------------|------------:|:--|:----|:------|:----|:----------|-----------:|
|                                                                                       |     | Kadimastem,   
 Ltd.          |            |     | NLS              
 Pharmaceuticals, 
 Inc.             |            |     | Pre-Merger  
 Transaction 
 Accounting  
 Adjustments |             |   |     | Notes |     | Transaction 
 Accounting  
 Adjustments |             |   |     | Notes |     | Pro Forma 
 Combined  |            |
| Current assets:                                                                       |     |               |            |     |                  |            |     |             |             |   |     |       |     |             |             |   |     |       |     |           |            |
| Cash and cash equivalents                                                             |     | $             |    548,284 |     | $                |    552,758 |     | $           |   3,200,000 |   |     | -A    |     | $           |   2,500,000 |   |     | -Q    |     | $         |  9,535,383 |
|                                                                                       |     |               |            |