Company: NDRA
Filing Date: 2025-11-06
Form Type: S-3
Source: 0001213900-25-107232
Chunk: 8

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-06
Form: S-3
Chunk 8
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1940 Act”). While HYPE will initially
serve as our primary treasury reserve asset and we are focused on accumulating a long-term position in one to five decentralized finance
digital assets, including HYPE, our existing business operations will continue.

Our Decision to Adopt a DAT Strategy

Our Board of Directors and
senior management have been examining potential uses of cash, including acquisitions of cryptocurrency. After studying various alternatives,
we decided that investing in cryptocurrency is currently the best use of our cash. Cryptocurrency, which are digital assets that are
issued by and transmitted through an open-source protocol, collectively maintained by a peer-to-peer network of decentralized user nodes,
will be our principal treasury holding on an ongoing basis, subject to market conditions and our anticipated cash needs. Specifically,
we expect that the majority of holdings in the Company’s treasury reserve will initially consist of HYPE and other cryptocurrencies
that are intrinsically linked to a blockchain system, and the value of which is derived from or is reasonably expected to be derived
from the use of the blockchain system. As we embark on our new acquisition strategy, our Board of Directors intends to proactively evaluate
our use of cash, ensuring we maintain adequate working capital.

Other than acquiring cryptocurrency
with our liquid assets that exceed working capital requirements, our DAT strategy may also involve issuing debt or equity securities
or engaging in other capital raising transactions with the objective of using the majority of proceeds to purchase cryptocurrency from
time to time, subject to market conditions. We view cryptocurrency as a core holding and expect to accumulate cryptocurrency following
this offering. We have not set any specific target for the amount of cryptocurrency we seek to hold, although under the DAT strategy
we have adopted we will maintain a majority of our holdings in one to five decentralized finance digital assets, including HYPE and other
blockchain-linked cyptocurrencies. We will continue to monitor market conditions in determining whether to engage in financings to purchase
additional cryptocurrency. This overall strategy also contemplates that we may (i) periodically sell cryptocurrency for general
corporate purposes, including to generate cash for treasury management (which may include debt repayment, if appropriate at such time),
for acquisitions, or for strategies that generate tax benefits in accordance with applicable law, (ii) enter into additional capital
raising transactions that are collateralized by our cryptocurrency holdings, and (iii) pursue strategies to create income streams
or otherwise generate funds using our cryptocurrency holdings (for example, generating premium income by selling call options related
to cryptocurrencies).

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