Company: NDRA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003612
Chunk: 528

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 528
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, the Company issued a total of 495,476 shares of its common stock upon the alternate cashless exercise of 177,987 Series B Warrants. The following table summarizes all stock warrant activity of the Company for the year ended December 31, 2024:   Number of Warrants  Weighted AverageExercise Price  Weighted Average Contractual Term (Years) Balance outstanding at December 31, 2023  493  $2,758.09   3.80 Issued  389,937   89.95   3.20 Exercised  (209,723 )  99.58   2.01 Forfeited  -   -   - Expired  -   -   - Balance outstanding at December 31, 2024  180,707  $85.38   4.58 Exercisable at December 31, 2024  180,707  $85.38   4.58  Common Stock Warrants As described above in “Registered Offering” (Note 7), the Company issued 178,255 Series A Warrants and 178,255 Series B Warrants. The Company accounts for the 356,510 warrants, in the aggregate, in accordance with the guidance in ASC 815 “Derivative and Hedging” whereby under that provision the warrants do not meet the criteria for equity treatment and must be recorded as a liability. Accordingly, the Company classified the warrant instruments as a liability at fair value and adjusts the instruments to fair value each period. This liability will be re-measured at each balance sheet date until the warrants are exercised or expire, and any change in fair value will be recognized in the Company’s statement of operations. During the year ending December 31, 2024, the Company recognized $7,323,685 as warrant liability expense and income from the change in fair value of warrant liability of $3,447,737 in the statement of operations. For the year ended December 31, 2024, the Company recognized $3,076,664 as gain on settlement for the exercise of warrants during the period, and $799,284 as a warrant liability as of December 31, 2024. Series A Warrants  Each Series A Warrant entitles the holder to purchase one share of the Company’s common stock at $75.95