Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 56

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 listed company may effect a reverse stock split to maintain or regain compliance with the Minimum Bid Price Requirement,
Nasdaq has stated that a series of reverse stock splits may undermine investor confidence in securities listed on Nasdaq. In addition,
Nasdaq Listing Rule 5810(c)(3)(A)(iv) states that if any listed company that fails to meet the Minimum Bid Price Requirement after effecting
one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one, then the company
is not eligible for a Minimum Bid Price Requirement compliance period of 180 days. As a result, since the Company has effected the 1-for-50
August Reverse Stock Split and the 1-for-35 November Reverse Split, if we subsequently fail to satisfy the Minimum Bid Price Requirement,
Nasdaq will begin the process of delisting our common stock without providing a Minimum Bid Price Requirement compliance period. However,
the Company would still be eligible to request a hearing before the Nasdaq Panel to present its plan for regaining and sustaining compliance
with the Minimum Bid Price Requirement.

In addition to the Minimum Bid Price Requirement,
Nasdaq Marketplace Rule 5550(b) requires listed companies to maintain $2.5 million of stockholders’ equity, a market value of listed
securities of at least $35 million, or $500,000 of net income for the most recently completed fiscal year or for two of the three most
recently completed fiscal years (the “Stockholders’ Equity Requirement”).

On May 27, 2025, the Company received a notification
letter from the Staff notifying the Company that its stockholders’ equity had fallen below the $2,500,000 required minimum for continued
listing set forth in the Stockholders’ Equity Requirement. The notification letter stated that the Company had until July 11, 2025
to provide Nasdaq with a specific plan to achieve and sustain compliance. The Company submitted its plan to regain compliance on July
11, 2025 and subsequently provided the Staff with additional materials. On October 31, 2025, the Company received written notice that,
based on review of the compliance plan and additional materials, the Staff had granted the Company an extension to November 24, 2025 to
regain compliance with the Stockholders’ Equity Requirement.

As a result of the Company’s closing of a
private placement offering for gross proceeds of approximately $4.9 million on October 15, 202