Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 756

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 756
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 of December 31, 2024 (December 31, 2023: $ 47.2million) of which $ 32.9million will expire within the next five years, and $ 14.3million will expire between 2030 – 2031.

The significant components of net deferred taxes as of December 31, 2024, and 2023 are shown in the following table:

| Deferred tax assets:                    |     | 2024 |            |   |     | 2023 |            |   |
|:----------------------------------------|:----|:-----|-----------:|:--|:----|:-----|-----------:|:--|
| Net benefit from tax loss carryforwards |     | $    |  5,536,408 |   |     | $    |  5,000,743 |   |
| Deferred revenues                       |     |      |          — |   |     |      |    264,997 |   |
| Valuation allowance                     |     |      | (5,536,408 | ) |     |      | (5,265,740 | ) |
| Net deferred taxes                      |     | $    |          — |   |     | $    |          — |   |

The Company recorded a valuation allowance in 2024 and 2023 to reduce the net deferred taxes, as the Company deemed it to be more likely than not that the future deferred tax assets would not be realized in the future based on the lack of sufficient positive evidence in the jurisdictions related to the realization of the deferred tax assets. The effective tax rate was 0% for the years ended December 31, 2024, 2023 and 2022. The following table shows the income taxes in 2024, 2023 and 2022:

|                               |     | 2024 |          |   |     | 2023 |            |   |     | 2022 |            |   |
|:------------------------------|:----|:-----|---------:|:--|:----|:-----|-----------:|:--|:----|:-----|-----------:|:--|
| Current tax                   |     | $    |        — |   |     | $    |          — |   |     | $    |          — |   |
| Deferred income tax (benefit) |     |      | (270,668 | ) |     |      |