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

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 25
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111 for the six months ended June 30, 2024. The increase was primarily due to $9,957,470 of non -cashrevaluation of convertible loans from shareholders and related parties, and other financial expenses of $30,017. These loans will be converted prior to the closing of the Merger with NLS. Net Loss The net loss for the six months ended June 30, 2025, was $11,204,458, representing an increase of $9,968,129 compared to a net loss of $1,236,329 for the for the six months ended June 30, 2024. The increase was primarily due to increase of $9,957,470 of non -cashrevaluation of convertible loans from shareholders and related parties, combined with $1,281,445 of net loss due to the other factors described above. These loans will be converted prior to the closing of the Merger with NLS. Comparison of the Years Ended December 31, 2024 and 2023 Revenues Kadimastem had no revenues from operations in each of the years ended December 31, 2024, and December 31, 2023. Cost of Revenues Kadimastem had no costs of revenues from operations in each of the years ended December 31, 2024, and December 31, 2023. Research and Development Expenses Research and development expenses were $992,425 for the year ended December 31, 2024, representing a decrease of $615,544 compared to $1,607,969 in 2023. The decrease is primarily due to an efficiency program implemented by Kadimastem, which included a reduction in staff and service providers. In addition, during the reporting period, Kadimastem successfully completed the submission of the IND application to the FDA, an expensive process that included research work, testing, and very expensive regulation related expenses. Sales and Marketing Expenses Sales and marketing expenses for the year ended December 31, 2024 were $0, a decrease of $81,306 from $81,306 for the year ended December 31, 2023. This decline was primarily attributed to reduced salary expenses and decreased spending on advertising and public relations. General and Administrative Expenses General and administrative expenses for the year ended December 31, 2024 were $793,183, representing a reduction of $509,616 compared to $1,302,799 for the year ended December 31,