Company: NDRA
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001213900-25-103705
Chunk: 23

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-30
Form: 424B5
Chunk 23
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 our business
as contemplated, and could have a material adverse effect on our business, results of operations, financial condition, and prospects.

We may be subject to regulatory developments related to crypto assets and crypto asset markets, which could adversely affect our business, financial condition, and results of operations.

As cryptocurrency and other digital assets are
relatively novel and the application of state and federal securities laws and other laws and regulations to digital assets is unclear
in certain respects, it is possible that regulators in the United States or foreign countries may interpret or apply existing laws and
regulations in a manner that adversely affects the price of cryptocurrency. The U.S. federal government, states, regulatory agencies,
and foreign countries may also enact new laws and regulations, or pursue regulatory, legislative, enforcement or judicial actions, that
could materially impact the price of cryptocurrency or the ability of individuals or institutions such as us to own or transfer cryptocurrency.

If cryptocurrency is determined to constitute
a security for purposes of the federal securities laws, the additional regulatory restrictions imposed by such a determination could adversely
affect the market price of cryptocurrency and in turn adversely affect the market price of our common stock. Moreover, the risks of us
engaging in a cryptocurrency treasury strategy have created, and could continue to create complications due to the lack of experience
that third parties have with companies engaging in such a strategy, such as increased costs of director and officer liability insurance
or the potential inability to obtain such coverage on acceptable terms in the future.

Changes in the accounting treatment of cryptocurrency holdings could have significant accounting impacts, including increasing the volatility of our results.

In December 2023, the FASB issued ASU 2023-08,
which upon our adoption will require us to measure in-scope cryptocurrency assets at fair value in our statement of financial position,
and to recognize gains and losses from changes in the fair value of our cryptocurrency in net income each reporting period. ASU 2023-08
will also require us to provide certain interim and annual disclosures with respect to our cryptocurrency holdings. The standard is effective
for our interim and annual periods beginning January 1, 2025, with a cumulative-effect adjustment to the opening balance of retained earnings
as of the beginning of the annual reporting period in which we adopt the guidance. Due in particular to the volatility in the price of
cryptocurrencies, we expect the adoption of ASU 2023-08 to have a material impact on our financial results in future periods, increase
the volatility of our financial results