Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 25

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 on net loss, which is reported on the income statement as consolidated net loss. The measure of segment assets is reported on the
balance sheet as total consolidated assets.

To date, the Company has not generated any product
revenue. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as it advances
product candidates through all stages of development and clinical trials and, ultimately, seek regulatory approval.

As such, the CODM uses cash forecast models in
deciding how to invest into the biotech segment. Such cash forecast models are reviewed to assess the entity-wide operating results and
performance. Net loss is used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing
performance of the segment and in establishing management’s compensation, along with cash forecast models.

13

The table below summarizes the significant expense
categories regularly reviewed by the CODM for the nine months ended September 30, 2025, and 2024:

     Nine Months  
    Nine Months 

     Ended  
    Ended 
  
    Operating Expenses 
    September 30,
2025  
    September 30,  2024 
  
    Research and development 
    $1,341,859  
    $2,552,366 
  
    Sales and marketing 
     183,110  
     484,769 
  
    General and administrative 
     2,616,106  
     3,483,303 
  
    Total operating expenses 
     4,141,075  
     6,520,408 

    Operating loss 
     (4,141,075) 
     (6,520,408)

    Other segment items (a) 
     282,874  
     (838,535)

    Net loss 
    $(3,858,201) 
    $(7,358,943)

    Reconciliation of net loss 

    Adjustments and reconciling items 
     -  
     - 

    Consolidated net loss 
    $(3,858,201) 
    $(7,358,943)

(a) Other segment items included in segment
loss includes warrant expense, changes in warrant liability and interest income.

Note 13– Subsequent Events

On October 10, 2025,
the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain accredited investors
(the “Purch