Company: NDRA
Filing Date: 2025-04-07
Form Type: 10-K/A
Source: 0001654954-25-003937
Chunk: 19

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-04-07
Form: 10-K/A
Chunk 19
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                                                     |    - |
| Forfeited                                |     |                  |   - |   |     |                              |         - |     |                                                     |    - |
| Cancelled or expired                     |     |                  | (39 | ) |     |                              |  9,861.03 |     |                                                     |    - |
| Balance outstanding at December 31, 2024 |     |                  | 278 |   |     | $                            | 30,628.90 |     |                                                     | 5.35 |
| Exercisable at December 31, 2024         |     |                  | 185 |   |     | $                            | 41,864.73 |     |                                                     | 4.23 |

| F-11 |

Restricted Common Stock

On November 30, 2023, the Company issued shares of restricted common stock (the “Restricted Stock”) of the Company to PatentVest, Inc. (“PatentVest”) pursuant to a Restricted Stock Agreement and Consulting Services Agreement, each with PatentVest, in exchange for certain services related to the Company’s patent portfolio. The fair value of the Restricted Stock was determined to be $ using the market price of the stock on the date of the issuance. The Restricted Stock is subject to a vesting schedule pursuant to the Restricted Stock Agreement and the shares may not be sold, assigned, transferred, pledged, hypothecated, disposed of or otherwise encumbered prior to becoming vested. During the year ended December 31, 2024, the Company recorded as vested shares valued at $. The Restricted Stock is subject to a vesting schedule pursuant to the Restricted Stock Agreement and the shares may not be sold, assigned, transferred, pledged, hypothecated, disposed of or otherwise encumbered prior to becoming vested.

Note 9 - Common Stock Warrants

As described above in “Registered Offering” (Note 7), the Company issued 31,674 pre-funded warrants to purchase up to an aggregate of shares of common stock (the “pre-funded warrants”), together with Series A Warrants to purchase up to an aggregate of shares of common stock and Series B Warrants to purchase up to an aggregate of shares of common stock.

Additionally, the Series B Warrants contain an alternative cashless exercise option whereby the holder of a Series B Warrant has the right to receive an aggregate number of shares equal to the product of (x) the aggregate number of shares of common stock that would be issuable upon a