Company: NDRA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001654954-25-005770
Chunk: 60

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 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 stock with a par value of $0.0001 per share. The Company has designated 10,000 shares of its preferred stock as Series A Convertible Preferred Stock (“Series A Preferred Stock”), 1,000 shares of its preferred stock as Series B Convertible Preferred Stock (“Series B Preferred Stock”), 100,000 shares of its preferred stock as Series C Preferred Stock, and the remainder of the 9,889,000 preferred shares remain authorized but undesignated. As of March 31, 2025, there were 562,213 shares of common stock outstanding (which excludes 69 unvested shares of restricted stock described in Note 8 below and 24,695 shares issued by the Company pursuant to the February 2024 ATM Agreement (as defined below) and includes the conversion of Series A Preferred Stock into 1 share of common stock and 12,857 shares of common stock due to exercise of warrants), 17.488 shares of Series A Preferred Stock, and no shares of Series B Preferred Stock or Series C Preferred Stock issued and outstanding, and a stock payable balance of $0. During the three months ended March 31, 2025, the Company issued a total of 25,305 shares of its common stock under the February 2024 ATM Agreement in return for aggregate net proceeds of $145,803, which takes into account $4,641 in compensation paid to Ascendiant Capital Markets, LLC (“Ascendiant”) in its role as Sales Agent under the February 2024 ATM Agreement. At-the-Market Equity Offering Programs On February 14, 2024, the Company entered into a new At-The-Market Issuance Sales Agreement with Ascendiant (the “February 2024 ATM Agreement”) to sell shares of common stock for aggregate gross proceeds of up to $6.2 million, which replaced the Company’s prior At-The-Market Issuance Sales Agreement. Under the February 2024 ATM Agreement, as of March 31, 2025, the Company has issued a total of 25,305 shares of its common stock in return for aggregate net proceeds of $145,803