Company: NDRA
Filing Date: 2025-10-30
Form Type: 424B5
Source: 0001213900-25-103705
Chunk: 19

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-30
Form: 424B5
Chunk 19
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 and circumstances of digital assets is complex and subject to change. Our belief,
even if reasonable under the circumstances, would not preclude legal or regulatory action based on a finding that cryptocurrency, or any
other digital asset we might hold is a “security.” As such, we are at risk of enforcement proceedings against us, which could
result in potential injunctions, cease-and-desist orders, fines, and penalties if cryptocurrency was determined to be a security by a
regulatory body or a court. Such developments could subject us to fines, penalties, and other damages, and adversely affect our business,
results of operations, financial condition, and prospects.

The emergence or growth of other digital assets, including those with significant private or public sector backing, could have a negative impact on the price of cryptocurrencies we hold and adversely affect our business.

The emergence or growth of digital assets other
than cryptocurrencies we may hold could have a material adverse effect on our financial condition. There are numerous alternative digital
assets and many entities, including consortia and financial institutions, are researching and investing resources into private or permissioned
blockchain platforms or digital assets. For example, some cryptocurrency networks utilize proof-of-work mining. Others use a “proof-of-stake”
mechanism for validating transactions that requires significantly less computing power than proof-of-work mining. If the mechanisms for
validating transactions in alternative digital assets are perceived as superior to the mechanisms used by the digital assets in which
we invest, those digital assets could gain market share.

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Other alternative digital assets could include
“stablecoins,” which are designed to maintain a constant price because of, for instance, their issuers’ promise to hold
high-quality liquid assets (such as U.S. dollar deposits and short-term U.S. treasury securities) equal to the total value of stablecoins
in circulation. Stablecoins have grown rapidly as an alternative to other digital assets as a medium of exchange and store of value, particularly
on digital asset trading platforms.

Additionally, central banks in some countries
have started to introduce digital forms of legal tender. For example, China’s CBDC project was made available to consumers in January
2022, and governments including the United States, the United Kingdom, the European Union, and Israel have been discussing the potential
creation of new CBDCs. Whether or not they incorporate blockchain or similar technology, CBDCs, as legal tender in the issuing jurisdiction,
could also compete with, or replace, other digital