Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 816

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 816
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852,486 |   |     |      |  1,004,681 |   |     |      |  1,119,614 |   |
| Total income tax expense      |     | $    |        — |   |     | $    |          — |   |     | $    |          — |   |

The Company files income tax returns in Switzerland. The Company’s income tax position in Switzerland is finally assessed up to the year ended December 31, 2020, so the years ended December 31, 2021, 2022 and 2023 are open for examination. Currently the Company does not have any open tax assessments.

|                                                      |     | 2023 |    |     | 2022 |    |     | 2021 |    |
| Statutory tax rate                                   |     | 10.6 | %  |     | 10.6 | %  |     | 10.6 | %  |
| Effect of temporary differences                      |     | (3.6 | )% |     | (4.8 | )% |     | (3.6 | )% |
| Change in valuation allowance on deferred tax assets |     | (7.0 | )% |     | (5.8 | )% |     | (7.0 | )% |
| Effective tax rate                                   |     |  0.0 | %  |     |  0.0 | %  |     |  0.0 | %  |

The Company had generated approximately $ of net operating losses (“NOLs”) prior to the reorganization in 2019 in which the Company’s preliminary analysis indicates that such NOLs would not be subject to significant limitations pursuant to applicable income tax regulations. The temporary differences relate to the conversion to U.S. GAAP from local Swiss GAAP, mainly in the areas of debt, intangible amortization and deferring financing costs.

Annex F-138 NLS PHARMACEUTICS LTD.
NOTES TO THE FINANCIAL STATEMENTS As of December 31, 2023, and 2022, there were no unrecognized tax benefits. If such matters were to arise, the Company would recognize interest and penalties related to income tax matters in income tax expense. The Company did not incur any material interest or penalties in connection with income taxes during the years ended December 31, 2023, and 2022. Note 14 Related party