Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 798

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 798
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 and recorded the $ 2,500,000as deferred revenue that is expected to be recognized upon Brazilian or other Latin American market approval or, in the event marketing approval in the United States and/or Latin America is not achieved, whether by failure in clinical development or otherwise, when the Company’s performance obligations are contractually complete or the EF License Agreement is terminated. Amounts expected to be recognized as revenue within the 12 months following the balance sheet date are classified as a current portion of deferred revenue in the accompanying condensed balance sheets. Amounts not expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred revenue, net of current portion. As of December 31, 2023, and 2022, the Company has long -termdeferred revenues of $ 2,500,000, which will be recognized when the development services of Nolazol are completed and the product candidate receives applicable regulatory approval in Latin America that allows Eurofarma to commence commercialization of Nolazol in accordance with the EF License Agreement.

Note 10

Pension Liability:

The Company joined a collective pension plan operated by an insurance company as of 2016 which covers the employees in Switzerland.

Both the Company and the participants provide monthly contributions to the pension plan which are based on the covered salary. The respective saving parts of premiums are credited to employees’ accounts. In addition, interest is credited to employees’ accounts at the rate provided in the plan. The pension plan provides for retirement benefits as well as benefits on long-term disability and death.

The following table provides information on the pension plan for the years ended December 31, 2023, 2022 and 2021:

|                                                   |     |   |    2023 |   |     |   |    2022 |   |     |   |   2021 |   |
|:--------------------------------------------------|:----|:--|--------:|:--|:----|:--|--------:|:--|:----|:--|-------:|:--|
| Service cost                                      |     | $ |  53,920 |   |     | $ |  39,667 |   |     | $ | 25,206 |   |
| Interest cost                                     |     |   |  14,416 |   |     |   |   2,743 |   |     |   |  2,992 |   |
| Expected return on assets