Company: NDRA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003612
Chunk: 470

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 470
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400   1,406,400 Accrued Bonus $17,100   63,300 Accrued Expenses $36,000   - Depreciation $900   (7,800 ROU (Asset) $(148,800)  (92,600)ROU Liability $150,400   95,700 Capitalized R&D $1,967,800   1,960,100 R&D Credit $29,800   29,800 Net Operating Losses (US) $19,647,500   16,665,000 Net Operating Losses (Foreign) $1,327,000   1,042,600 Net deferred tax assets (liabilities)  24,573,700   21,162,500 Valuation allowance  (24,573,700)  21,162,500 Net deferred tax assets (liabilities) $-   - 

 F-17 

The domestic U.S. net operating loss carryforward increased from $62,032,405 at December 31, 2023 to $72,521,129 at December 31, 2024. After consideration of all the evidence, both positive and negative, management has recorded a full valuation allowance at December 31, 2024 and 2023, due to the uncertainty of realizing the deferred income tax assets. Out of the $72,521,129 net operating losses carry forward, $16,012,698 will begin to expire in 2028 and $56,508,431 will have an indefinite life. The Company’s Total State net operating losses also increased from $74,926,792 at December 31,2023 to $84,972,922 at December 31, 2024. The State net operating losses will began to expire in 2028. There are also net operating losses from Canada, France, Germany, Netherlands and UK total to 5,498,797 as of December 31, 2024.  The Internal Revenue Code includes a provision, referred to as Global Intangible Low-Taxed Income (“GILTI”), which provides for a 10.5% tax on certain income of controlled foreign corporations. We have elected to account for GILTI as a period cost if and when occurred, rather than recognizing deferred taxes for basis differences expected to reverse