Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 80

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 80
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     |   548 |         |     |          650 |   |
| Material non-cash transactions                                     |     |                  |      |     |       |         |     |              |   |
| Conversion of shareholder loans into equity                        |     |            4,401 |      |     |     — |         |     |            — |   |

The accompanying notes are an integral part of the interim financial statements.

Annex B-8 KADIMASTEM LTD.
NOTES TO INTERIM FINANCIAL STATEMENTS NOTE 1 — GENERAL A.Kadimastem Ltd. (the “Company”) was incorporated in Israel on October 6, 2008, and began its business activities on August 27, 2009. On June 6, 2013, the Company completed an initial public offering of its shares on the Tel Aviv Stock Exchange (“TASE”). The Company’s offices are located in Ness Ziona, Israel. The Company is a bio -pharmaceuticalcompany that develops industrial regenerative medicine therapies based on differentiated cells derived from Human Embryonic Stem Cells (hESCs) to treat neuro -degenerativediseases such as ALS and Diabetes. B.These financial statements have been prepared in a condensed format as of June 30, 2025, and for the period of six months then ended (“interim financial statements”). These financial statements should be read in conjunction with the Company’s annual financial statements as of December 31, 2024, and for the year then ended and accompanying notes (“annual financial statements”). C.During the period of six months ended June 30, 2025, the Company incurred a loss and had negative cash flows from operating activities of $11,204 thousand and $616 thousand, respectively. As of June 30, 2025, the Company’s shareholders’ deficit, accumulated deficit, and negative working capital amounted to $15,081 thousand, $87,734 thousand, and $15,187 thousand, respectively. The Company’s ability to continue its operations depends on raising resources to finance its operations. The Company plans to finance its operations through loans from investors and the sales of its equity securities, which include, but not limited to, (i) proceeds to be received from private placement transactions, (ii) proceeds to be received from public offerings on the TASE, (iii) issuance of rights to its current shareholders and (iv) completion of merger transaction following to Agreement of Merger and Plan of Re