Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 353

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 353
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 liabilities in the normal course of business. The
carrying amounts of assets and liabilities presented in these consolidated financial statements do not necessarily purport to represent
realizable or settlement values. These consolidated financial statements do not include any adjustment that might result from the outcome
of this uncertainty.

Note 2

Summary of Significant Accounting Policies:

Basis of Presentation

The accompanying consolidated financial statements
have been prepared in accordance with U. S. GAAP. Any reference in these notes to applicable guidance is meant to refer to the authoritative
U. S. GAAP as found in the Accounting Standards Codification (“ ASC”) and Accounting Standards Updates (“ ASU”) of
the Financial Accounting Standards Board (“ FASB”).

Effective September 27, 2024,
the Company filed amended Articles of Association with the commercial registry of Zurich reflecting an increase in share capital to CHF937,600, divided into1,172,000registered shares with a nominal value of CHF0.80each and filed for a 1-for-40 reverse share split.
The number of shares outstanding before and after the reverse split were adjusted accordingly on a retrospective basis. Further, on January
14, 2025, the shareholders of NLS approved a change in the par value of the common share from CHF0.80to CHF0.03per share, effective
January 17, 2025. All share amounts reflect the par value of CHF0.80as of December 31, 2024 and no adjustments have been made for the
change in par value to additional paid in capital for the reduction in par value.

Use of Estimates

The preparation of the consolidated financial
statements in conformity with U. S. GAAP requires management to make estimates and assumptions that affect amounts reported of assets and
liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting periods. Actual
results could differ from those estimates and be based on events different from those assumptions. As part of these consolidated financial
statements, the Company’s significant estimates include stock-based compensation, pension liabilities and the valuation allowance
related to the Company’s deferred tax assets.

JOBS Act Accounting Election

The Company is an “emerging growth company”
(“ EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “ JOBS Act”). Under the JOBS Act, an
EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act