Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 97

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 97
---
,358,943 for the nine months ended September 30, 2024.

Near-Term Liquidity and Capital Resources

We are experiencing financial and operating challenges. In the absence
of immediate additional liquidity for our TAEUS program, we will be forced to delay or reduce our product development programs and commercialization
efforts, materially curtail or cease our operations, sell or dispose of our rights or assets, pursue sale or other strategic transactions,
or undergo restructuring or insolvency proceedings. As of September 30, 2025, we had an accumulated deficit of $107,296,300 and had $794,036
in cash. The majority of net proceeds from our October 2025 private placement is put towards our DAT strategy, while the amount of proceeds
from such offering we put towards our TAEUS program is limited to $750,000. To date we have funded our operations through private and
public sales of our securities and will need to raise additional funds in order to execute on our business plan, fully commercialize our
TAEUS technology, execute on our DAT strategy, and generate revenues.

We need additional capital to allow us to continue
to execute our commercialization plans and to execute on our DAT strategy. We are considering potential financing options that may be
available to us, such as sales of our common stock, including through our at-the-market sales program. Except for the at-the-market sales
program, we have no commitments to obtain any additional funds, and there can be no assurance funds will be available in sufficient amounts
or on acceptable terms. If we are unable to obtain sufficient additional financing in a timely fashion and on terms acceptable to us,
our financial condition and results of operations may be materially adversely affected and we may not be able to continue operations or
execute our stated commercialization plan.

The consolidated financial statements included in this Form 10-Q have
been prepared assuming we will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities
and commitments in the normal course of business. As reflected in the accompanying consolidated financial statements, during the nine
months ended September 30, 2025, we incurred net losses of $3,858,201 and used cash in operations of $3,570,847. In light of our cash
balance as of September 30, 2025, we will need to raise additional capital in order to fund operations through the next twelve months,
and prior to any ability to fund operations from revenue generated