Company: NDRA
Filing Date: 2025-11-06
Form Type: S-3
Source: 0001213900-25-107232
Chunk: 27

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-06
Form: S-3
Chunk 27
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 is intended to be
custodied, our ability to engage in transactions with affiliated parties and our operating and investment activities generally are not
subject to the extensive legal and regulatory requirements and prohibitions that apply to investment companies and investment advisers.
Consequently, our board of directors has broad discretion over the investment, leverage and cash management policies it authorizes, whether
in respect of our cryptocurrency holdings or other activities we may pursue, and has the power to change our current policies, including
our strategy of acquiring and holding cryptocurrency.

If we or our third-party service
providers experience a security breach or cyberattack and unauthorized parties obtain access to our cryptocurrency, or if our private
keys are lost or destroyed, or other similar circumstances or events occur, we may lose some or all of our cryptocurrency and our financial
condition and results of operations could be materially adversely affected.

Security breaches and cyberattacks
are of particular concern with respect to cryptocurrency. Blockchain-based cryptocurrencies and the entities that provide services to
participants in the cryptocurrency ecosystem have been, and may in the future be, subject to security breaches, cyberattacks, or other
malicious activities. For example, in October 2021, it was reported that hackers exploited a flaw in the account recovery process and
stole from the accounts of at least 6,000 customers of the Coinbase exchange, although the flaw was subsequently fixed and Coinbase reimbursed
affected customers. Similarly, in November 2022, hackers exploited weaknesses in the security architecture of the FTX Trading digital
asset exchange and reportedly stole over $400 million in digital assets from customers. A successful security breach or cyberattack could
result in:

| ● | a                                                                                                      
 partial or total loss of our cryptocurrency in a manner that may not be covered by insurance           
 or the liability provisions of the custody agreements with the custodians who hold our cryptocurrency; |

| ● | harm                         
 to our reputation and brand; |

| ● | improper                                                                        
 disclosure of data and violations of applicable data privacy and other laws; or |

| ● | significant                                                                                     
 regulatory scrutiny, investigations, fines, penalties, and other legal, regulatory, contractual 
 and financial exposure.                                                                         |

Further, any actual or perceived
data security breach or cybersecurity attack directed at other companies with digital assets or companies that operate digital asset
networks, regardless of whether we are directly impacted, could lead to a general loss of confidence in the broader cryptocurrency ecosystem
or in the use of the cryptocurrency network to conduct financial transactions, which could negatively impact us.

Att