Company: NDRA
Filing Date: 2025-04-07
Form Type: 10-K/A
Source: 0001654954-25-003937
Chunk: 21

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-04-07
Form: 10-K/A
Chunk 21
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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 Series A Warrants and Series B Warrants. The Company accounts for the 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 $ as warrant liability expense and income from the change in fair value of warrant liability of $ in the statement of operations. For the year ended December 31, 2024, the Company recognized $ as gain on settlement for the exercise of warrants during the period, and $ 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 $ per share, subject to antidilution adjustments, and expires on August 19, 2029. In addition, if the Company sells or issues equity