Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 362

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 362
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 in effect that may impact its consolidated financial statements and does not believe any
other recently issued standards will have a material impact on its financial position or results of operations.

Note 3

Prepaid Expenses and Other Current Assets:

The Company’s prepaid expenses and other
current assets consisted of the following as of December 31, 2024, and 2023:

                                                       December 31,                                      
                                                       2024                           2023               
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Vendor prepayments                                   $                  65,237      $         821,266  
  VAT recoverable and other current assets                                49,479                 24,433  
  Other short-term receivables                                           400,000                 10,664  
  Prepaid insurance                                                       42,470                 69,019  
  Prepaid expenses                                                         2,970                      -  
  Total prepaid expenses and other current assets      $                 560,157      $         925,382  

F-16

During the period ended December 31, 2024, the
Company provided working capital advances totaling $400,000to Kadimastem, a third party with which the Company is engaged in merger
negotiations. These funds were provided to support Kadimastem’s ongoing operations and are recorded as Other Receivable on the
balance sheet. The funds are repayable on demand or upon termination of the merger discussions. If the merger is completed, the advances
will be eliminated in consolidation. The Company’s ability to recover these funds is dependent on the outcome of the merger transaction.
As of December 31, 2024, no allowance for uncollectibility has been recorded, as management believes the amounts are recoverable.

Note 4

Property and Equipment, net:

The Company’s property and equipment consisted
of the following as of December 31, 2024 and 2023:

                                         December 31,                                        
                                         2024                            2023                
 ─────────────────────────────────────────────────────────────────────────────────────────────
  Cost                                                                                       
  Furniture and fixtures                 $                   17,258      $           13,341  
  Software                                                   26,219                  26,219  
  Total cost                                                 43,477                  39,560  
  Accumulated depreciation                                 ( 36,187                ( 32,866  
  Total property and equipment, net      $                    7,290