Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 354

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 354
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 Property and equipment                             |     |        |        990 |
| Goodwill                                           |     |        |  5,619,986 |
| Total assets acquired                              |     |        | 11,147,785 |
| Liabilities assumed:                               |     |        |            |
| Accounts payable and accrued liabilities and other |     | $      |    650,000 |
| Note payable short-term                            |     |        |    201,285 |
| Asset retirement obligation                        |     |        |    100,000 |
| Total liabilities assumed                          |     |        |    951,285 |
| Estimated fair value of net assets acquired        |     | $      | 10,196,500 |

____________ (1) — See Note 5 below (2) The preliminary purchase price of $5,669,986 has been allocated to Goodwill and will not be amortized, but instead will be tested for impairment at least annually or more frequently if certain indicators are present. Also it is currently anticipated that Goodwill will not be deductible for tax purposes. Due to the preliminary nature of the purchase price allocation at time of this filing, there may be an increase or decrease to goodwill upon the completion of the purchase price allocation at the time of the Closing. 3. Earnings Per Share and Common Share Reconciliation The pro forma basic and diluted earnings per share amounts presented in the unaudited pro forma condensed combined statement of operations are based upon the number of the outstanding NLS Common Shares and NLS Common Shares underlying Preferred Shares pursuant to which Kadimastem agreed to convert its share capital in exchange for the right to receive a number of validly issued, fully paid and nonassessable NLS Common Shares, equal to the Exchange Ratio (as defined in the Merger Agreement), per each such Kadimastem Ordinary Share, assuming the Merger and related transactions occurred on January1, 2023.

198

An analysis of the number of outstanding NLS Common Shares post -Merger is as follows assuming an Exchange Ratio of 3.164 shares of NLS for 1 share of Kadimastem Ordinary Shares:

| NLS Shares June 30, 2024 weighted average shares outstanding                                            |     |  1,048,632 |
| NLS Shares December 31, 2023 weighted average shares outstanding                                        |     |    954,401 |
| NLS Common Shares post-Merger:                                                                          |     |            |
| Estimated