Company: NDRA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001654954-25-005770
Chunk: 11

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 March 31,2025  December 31,2024 Property, leasehold and capitalized software $597,235  $579,954 TAEUS development and testing  125,150   125,151 Accumulated depreciation  (649,610)  (635,824 )Fixed assets, net $72,775  $69,281  Depreciation expense for the three months ended March 31, 2025 and March 31, 2024 was $13,786 and $15,300, respectively.

Note 5 - Accounts Payable and Accrued Liabilities As of March 31, 2025 and December 31, 2024, current liabilities consisted of the following:   March 31,2025  December 31,2024 Accounts payable $223,595  $269,683 Payroll accrual  116,163   63,140 Accrued employee benefits  -   5,750 Accrued expenses  99,930   169,720 Total $439,688  $508,293 

Note 6 - Bank Loans Toronto-Dominion Bank Loan On April 27, 2020, the Company entered into a commitment loan with TD Bank under the Canadian Emergency Business Account, in the principal aggregate amount of CAD 40,000, due and payable upon the expiration of the initial term mon December 31, 2022 which was later extended to December 31, 2023. This note bears interest on the unpaid balance at the rate of zero percent (0%) per annum during the initial term. Under this note no interest payments were due until January 1, 2024. Under the conditions of the loan, twenty-five percent (25%) of the loan will be forgiven if seventy-five percent (75%) is repaid prior to the initial term date. During the three months ended March 31, 2024, the loan was repaid in full.

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Note 7 - Capital Stock Capital Stock At March 31, 2025, the authorized capital of the Company consisted of 30,000,000 shares of capital stock, comprised of 20,000,000 shares of common stock with a par value of $0.0001 per share, and 10,000,000 shares of preferred