Company: NDRA
Filing Date: 2025-11-06
Form Type: S-3
Source: 0001213900-25-107232
Chunk: 29

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-06
Form: S-3
Chunk 29
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 actors who gain control of a significant
portion of the network’s mining hash rate, a scenario commonly referred to as a 51% attack. In such an event, the attacker could
double-spend transactions, reverse previously confirmed transactions, or otherwise disrupt the normal operations of the network. Successful
51% attacks have historically undermined trust in affected blockchain networks and could materially decrease the value of cryptocurrency
assets.

Additionally, forks, or splits
in the underlying protocol, may occur when participants fail to reach consensus on proposed upgrades or changes. Forks can lead to the
creation of duplicate networks, confusion among market participants, dilution of the original network’s value, and disruption of
the network’s operations. Hard forks, in particular, can materially and adversely impact the perceived stability and value of digital
assets, leading to reduced demand and price declines.

Further, hacks and other
security breaches targeting the core infrastructure of blockchain networks or major participants, such as exchanges and custodians, could
severely impact the reputation and market confidence in these networks. Exploits of protocol-level vulnerabilities could also compromise
the integrity of the cryptocurrency blockchains, resulting in a substantial loss of value.

The success and growth of
cryptocurrency assets depend significantly on their continued security, stability, and scalability. Any technical failures, consensus
breakdowns, governance disputes, or regulatory interventions that diminish confidence in the networks or impair their functionality could
lead to a material decline in their market prices, which could materially and adversely impact our business, financial condition and
results of operations. A sustained or significant decrease in the price or liquidity of cryptocurrencies, whether due to 51% attacks,
forks, hacks, network disruptions, or other adverse events, could negatively impact our business, financial condition, and results of
operations. Furthermore, even the perception that any of these events could occur may lead to significant market volatility and price
declines, adversely affecting our business, financial condition and results of operations.

Our custodially-held cryptocurrencies
may become part of the custodian’s insolvency estate if one or more of our custodians enters bankruptcy, receivership or similar
insolvency proceedings.

We plan to hold substantially all of our cryptocurrency in custody accounts at a U.S.-based, institutional-grade custodian that has demonstrated a record of regulatory compliance and information security. As we further execute on our strategy, we intend to expand our holdings to multiple similar custodians.

If our custodially-held cryptocurrencies are considered to be the property of our