Company: NDRA
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001213900-25-103705
Chunk: 24

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-30
Form: 424B5
Chunk 24
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, and affect the carrying value of our cryptocurrency on our balance sheet, and it could also have
adverse tax consequences, which in turn could have a material adverse effect on our financial results and the market price of our common
stock. Additionally, as a result of ASU 2023-08 requiring a cumulative-effect adjustment to our opening balance of retained earnings as
of the beginning of the annual period in which we adopt the guidance and not permitting retrospective restatement of our historical financial
statements, our future results will not be comparable to results from periods prior to our adoption of the guidance.

<div align='center'>S-13</div>

The broader digital assets industry, including
the technology associated with digital assets, the rate of adoption and development of, and use cases for, digital assets, market perception
of digital assets, and the legal, regulatory, and accounting treatment of digital assets are constantly developing and changing, and there
may be additional risks in the future that are not possible to predict.

Changes in our ownership of cryptocurrency could
have accounting, regulatory and other impacts, as well. While we currently intend to primarily own cryptocurrency directly, we may investigate
other potential approaches to owning cryptocurrencies, including indirect ownership (for example, through ownership interests in a fund
that owns cryptocurrencies and deemed ownership via ownership of cryptocurrency derivative assets). If we were to own all or a portion
of our cryptocurrencies in a different manner, the accounting treatment for our cryptocurrencies, our ability to use our cryptocurrencies
as collateral for additional borrowings, and the regulatory requirements to which we are subject, may correspondingly change. For example,
the volatile nature of cryptocurrencies may force us to liquidate our holdings to use it as collateral, which could be negatively impacted
by any disruptions in the cryptocurrency market, and if liquidated, the value of the collateral would not reflect potential gains in market
value of our cryptocurrency.

Our management relies upon the advice of an asset manager through an asset management agreement to assist in building a narrowly focused investment strategy and the execution of the Company’s strategy and may not yield the desired return.

We have engaged an asset manager to manage our
cryptocurrency holdings and have adopted a treasury policy in which we plan to maintain a majority of our holdings in one to five decentralized
finance digital assets, including HYPE. Our management, cryptocurrency advisory board and such asset manager will have broad discretion
in the application of the net proceeds from any offering by the Company and could spend the proceeds in ways that do not improve our results
of operations