Company: NCEL
Filing Date: 2025-11-06
Form Type: POS AM
Source: 0001213900-25-106799
Chunk: 26

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 26
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2023. This decrease was driven by cost -cuttingmeasures as part of Kadimastem’s ongoing efficiency program as described above. Other Expenses (Expenses for merger with NLS) Other expenses (expenses for Merger with NLS) for the year ended December 31, 2024 were $268,720 representing the expenses in connection with the Merger with NLS. No such expenses for the year ended December 31, 2023, as there were no Merger expenses in 2023. Operating Loss Operating loss for the year ended December 31, 2024, was $2,054,328, representing a decrease of $937,746 compared to $2,992,074 for the year ended December 31, 2023. The decrease was primarily due to the decrease in research and development expenses, sales and marketing expenses, and general and administrative expenses. 15 Financial expenses net Finance expenses, net for the year ended December 31, 2024, were $5,131,136, representing an increase of $4,814,312, compared to $316,824 for the year ended December 31, 2023. The increase was primarily due to the non -cashrevaluation of derivative loans from related parties and non -cashfinancing expenses of lease liabilities. Net Loss The net loss for the year ended December 31, 2024, was $7,178,333, representing an increase of $3,923,910 compared to a net loss of $3,254,423 for the year ended December 31, 2023. The increase is primarily due to increase in non -cashrevaluation of derivative loans from related parties, partly offset by decrease in general and administrative expenses and research and development expenses as part of the efficiency program as described above. Liquidity and Capital Resources Kadimastem is a research and development entity that funds its operations through capital raising, convertible loans, loans from interested parties, and national and international research grants. To enhance its exposure to capital markets, Kadimastem often engages external consultants. Since Kadimastem’s inception, it has financed its operations primarily through the sale of equity securities, debt financing, convertible loans and royalty -bearinggrants that Kadimastem has received from the Israel Innovation Authority. Kadimastem’s primary requirements for liquidity and capital are to finance working capital, capital expenditures and general corporate purposes. Kadimastem has incurred significant losses and negative cash flows from operations