Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 737

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 737
---
 the year ended December 31, 2022. The increase was due to interest due to vendors on outstanding invoices. Interest on Related Party Loans Interest on related party loans was $25,233 for the year ended December 31, 2023, representing an increase of $19,578, or 346.2%, compared to $5,655 for the year ended December 31, 2022. The increase was due to a series of short -termloan agreements with certain existing shareholders of the Company during these time periods.

Annex F-80

Loss on Extinguishment of Convertible Notes The loss on extinguishment of convertible notes for the year ended December 31, 2023 was not applicable due to the absence of any such transactions during that period. For the year ended December 31, 2022, a loss on extinguishment of convertible notes amounting to $922,495 occurred. This loss resulted from the extinguishment of short -termconvertible notes with an aggregate principal and interest amount of $1,550,121 in exchange for 2,516,428 common shares with a fair value of $0.77 per share and an aggregate fair value of $1,937,650 and additional warrants with a fair value of $534,996. Net Loss As a result of the foregoing, our net loss totaled $12,172,029 for the year ended December 31, 2023, representing a decrease of $4,323,651, or 26.2%, compared to $16,495,680 for the year ended December 31, 2022. For a comparison of the year ended December 31, 2022 to the year ended December 31, 2021, see our annual report on Form 20 -Ffor the year ended December 31, 2022. B. Liquidity and Capital Resources Overview During the year December 31, 2023, we funded our operations with $1,633,746 unsecured loans to the Company with certain existing shareholders of the Company, in the aggregate amount of CHF 1,375,000.00 (approximately $1,633,746). As of December 31, 2023, we had $897,680 in cash and cash equivalents. The table below summarizes our cash flows for the years ended December 31, 2023 and 2022:

|                                                              |     |   |       2023 |   |     |   |