Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 30

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 3. 
    Bariatric and Metabolic Clinics - for obesity and other metabolic diseases detection and therapies response monitoring.

    4. 
    Primary & Internal Medicine at Large - to screen patients for obesity, diabetes and liver disease and monitor response to lifestyle change and drug therapy.

Each of our solutions will require regulatory
approvals before we are able to sell or license the application. Based on certain factors, such as the installed base of ultrasound systems,
availability of other imaging technologies, such as CT and MRI, economic strength and applicable regulatory requirements, we intend to
seek initial approval of our applications for sale in the European Union and the United States.

Digital Asset Treasury Strategy

In 2025, the Company adopted a DAT strategy under which the principal
holding in our treasury reserve on our balance sheet will be allocated to cryptocurrency, and specifically a strategy of holding one to
five decentralized finance digital assets, beginning with $HYPE, the native digital asset of the Hyperliquid network (“HYPE”).
Additionally, we intend to monitor ongoing developments in the regulatory environment around cryptocurrencies, including pending federal
legislation, and may modify or expand our DAT strategy to the extent we determine compliant with federal rules and regulations and not
giving rise to a requirement that the Company register as an investment company under the 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.

On
October 15, 2025, we closed a private placement of common stock, prefunded warrants, and common stock warrants for gross proceeds of
approximately $4.9 million.  The
majority of net proceeds from the offering are intended to establish the Company’s DAT strategy and, on
October 23, 2025, the Company announced that it had purchased 78,863.1 HYPE tokens with an estimated total value of approximately $3,000,000
as of October 21, 2025. A portion of net proceeds from the offering is for
working capital purposes, including the pilot validation imaging study of the Company’s TAEUS liver device. Pursuant to the securities
purchase agreement pursuant to which the offering was consummated, the Company may spend up to $750,000 of offering proceeds on the pilot
validation study and no more than $1 million in the aggregate, including offering proceeds, on such study