Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 307

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 307
---
.2%, compared to $129 for the six months ended June 30, 2023. The increase was partly attributable to interest on short term notes payable for D&O insurance. In 2023, the entire annual policy was prepaid and not financed through short term notes payable. Additionally, the increase was attributable to the 10% interest on the short term loan, which was only utilized at the end of 2023. Net Loss As a result of the foregoing, our net loss totaled $2,035,834 for the six months ended June 30, 2024, representing a decrease of $5,576,905, or 73.2%, compared to $7,612,739 for the six months ended June 30, 2023. Liquidity and Capital Resources Overview As of June 30, 2024, we had $552,758 in cash and cash equivalents. The table below summarizes our cash flows for the six months ended June 30, 2024 and 2023:

|                                                              |     | For the Six Months Ended 
 June 30,                 
 2024                     |            |   |     | 2023 |            |   |
|:-------------------------------------------------------------|:----|:-------------------------|-----------:|:--|:----|:-----|:-----------|:--|
| Net cash used in operating activities                        |     | $                        | (1,530,498 | ) |     | $    | (7,296,532 | ) |
| Net cash provided by financing activities                    |     |                          |  1,185,576 |   |     |      | —          |   |
| Effect of exchange rate changes on cash and cash equivalents |     |                          |          — |   |     |      | (416       | ) |
| Net decrease in cash and cash equivalents                    |     | $                        |   (344,922 | ) |     | $    | (7,296,948 | ) |

165 Operating Activities Net cash used in operating activities was $1,530,498, for the six months ended June 30, 2024, representing a decrease of $5,766,034, or 79.0%, compared with net cash used in operating activities of $7,296,532 for the six months ended June 30, 2023. The change in cash used in operating activities for the six months ended June 30, 2024 was due to our reporting