Company: NDRA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003612
Chunk: 321

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 321
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 a material impact on the Company’s present or future consolidated financial statements.

Note 3 - Inventory As of December 31, 2024 and 2023, inventory consisted of raw materials, subassemblies to be used in the assembly of TAEUS systems, and finished goods. As of December 31, 2024, the Company had no orders pending for the sale of a TAEUS system.  As of December 31, 2024 and 2023, the Company had recorded inventory reserves totaling $2,525,179 and $138,045, respectively. As of December 31, 2024 and 2023, the Company had inventory valued at $0 and $2,622,865, respectively.

Note 4 - Fixed Assets As of December 31, 2024 and 2023, fixed assets consisted of the following:   December 31,2024  December 31,2023 Property, leasehold and capitalized software $579,954  $587,030 TAEUS development and testing  125,151   125,151 Accumulated depreciation  (635,824 )  (600,399 )Fixed assets, net $69,281  $111,782  Depreciation expense for the years ended December 31, 2024 and 2023 was $46,489 and $123,726, respectively.

Note 5 - Accounts Payable and Accrued Liabilities As of December 31, 2024 and 2023, current liabilities consisted of the following:   December 31,2024  December 31,2023 Accounts payable $269,683  $360,401 Accrued payroll  63,140   150,293 Accrued bonuses  -   35,518 Accrued employee benefits  5,750   5,750 Insurance premium financing  169,720   148,792 Total $508,293  $700,754 

 F-8 

Note 6 - Bank Loans Toronto-Dominion Bank Loan On April 27, 2020, the Company entered into a commitment loan with TD Bank under the Canadian Emergency Business Account, in the principal aggregate amount of CAD 40,000, due and payable upon the expiration of the initial term on December