Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 34

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 30, 2025 were $356,788, compared to $(142,536) for
the three months ended September 30, 2024. Wage and related expenses in the three months ended September 30, 2025 included $145,220 of
stock compensation expense related to the issuance and vesting of options and RSUs for the three months ended September 30, 2025. Our
professional fees, which include legal, audit, and investor relations, for the three months ended September 30, 2025 were $312,139, compared
to $598,255 for the three months ended September 30, 2024.

Other Income

Other expense was $225,256 for the three months ended September 30,
2025 was primarily due to changes in fair value of warrant liability. Other expense was $845,076 for the three months ended September
30, 2024, an increase of $619,820, or 73%, due to changes in fair value of warrant liability. For the three months ended September 30,
2025, there were changes in fair value of warrant liability of $267,274.

Net Loss

As a result of the foregoing, for the three months
ended September 30, 2025, we recorded a net loss of $1,595,959, compared to a net loss of $2,354,090 for the three months ended September
30, 2024.

Nine months ended September
30, 2025 and 2024

Revenue

We had no revenue during the nine months
ended September 30, 2025 and 2024.    

Cost of Goods Sold    

We had no cost of goods sold during the nine months
ended September 30, 2025 and 2024.    

Research and Development    

Research and development expenses were $1,341,859 for the nine months
ended September 30, 2025, as compared to $2,552,336 for the nine months ended September 30, 2024, a decrease of $1,210,477, or 47%. The
costs include primarily wages, fees, equipment and third-party costs for the development of our TAEUS product line. Research and development
expenses decreased from the prior year as we completed development of our initial TAEUS product and began focusing our spending on clinical
trials and commercialization of the product that has been developed.

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