Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 145

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 145
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 generated significant revenues from its activities and has incurred substantial operating losses. In part because NLS has incurred losses in each year since its inception, its audited financial statements for the period ended December 31, 2024 contain a disclosure in Note 1 regarding substantial doubt about its ability to continue as a going concern. These events and conditions, along with other matters, indicated that a material uncertainty existed as of December 31, 2024, that raises substantial doubt on its ability to continue as a going concern. The financial statements for the year ended December 31, 2024 have been prepared assuming that NLS will continue as a going concern. Management expects the Company to continue to generate substantial operating losses and to continue to fund its operations primarily through the utilization of its current financial resources, sales of its products, and through additional raises of capital. As of December 31, 2024, NLS incurred accumulated losses of approximately $74.4 million. The disclosure regarding substantial doubt about its ability to continue as a going concern could materially limit its ability to raise additional funds through the issuance of equity or debt securities or otherwise in 39 the future. Further financial statements may also include a similar disclosure with respect to its ability to continue as a going concern. Until NLS can generate significant recurring revenues, NLS expects to satisfy its future cash needs through existing cash, debt or equity financing. NLS expects to require additional financing to fund its operations in the near future. NLS cannot be certain that additional funding will be available to it on acceptable terms, if at all. If funds are not available, NLS may be required to delay, reduce the scope of, or eliminate research or development plans for, or commercialization efforts with respect to its products and it risks its ability to continue operating as a going concern. NLS is exposed to various risks related to legal or administrative proceedings or claims that could adversely affect its financial condition, results of operations and reputation, and may cause loss of business. Litigation in general can be expensive, lengthy and disruptive to normal business operations. Moreover, the results of complex legal proceedings are difficult to predict. NLS and/or its directors and officers may be involved in allegations, litigation or legal or administrative proceedings from time to time. On August 27, 2024, the Company received correspondence from Université de Lausanne, initiating the official “audience de conciliation” procedure, overseen by the ordinary civil court in Lausanne. The hearing was scheduled for October 9,