Company: NDRA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003612
Chunk: 454

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 454
---
 attain profitable operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Recent Accounting Pronouncements The Company considered recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did not or in management’s opinion will not have a material impact on the Company’s present or future consolidated financial statements.

Note 3 - Inventory As of December 31, 2024 and 2023, inventory consisted of raw materials, subassemblies to be used in the assembly of TAEUS systems, and finished goods. As of December 31, 2024, the Company had no orders pending for the sale of a TAEUS system.  As of December 31, 2024 and 2023, the Company had recorded inventory reserves totaling $2,525,179 and $138,045, respectively. As of December 31, 2024 and 2023, the Company had inventory valued at $0 and $2,622,865, respectively.

Note 4 - Fixed Assets As of December 31, 2024 and 2023, fixed assets consisted of the following:   December 31,2024  December 31,2023 Property, leasehold and capitalized software $579,954  $587,030 TAEUS development and testing  125,151   125,151 Accumulated depreciation  (635,824 )  (600,399 )Fixed assets, net $69,281  $111,782  Depreciation expense for the years ended December 31, 2024 and 2023 was $46,489 and $123,726, respectively.

Note 5 - Accounts Payable and Accrued Liabilities As of December 31, 2024 and 2023, current liabilities consisted of the following:   December 31,2024  December 31,2023 Accounts payable $269,683  $360,401 Accrued payroll  63,140   150,293 Accrued bonuses  -   35,518 Accrued employee benefits  5,750   5,750 Insurance premium financing  169,720   148,792 Total $508,