Company: NDRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009643
Chunk: 88

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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 the sale of a TAEUS system. As of June 30, 2025 and December 31, 2024, the Company had recorded reserves of $0 and $2,525,179, respectively. As of June 30, 2025 and December 31, 2024, the Company had inventory valued at $0.

Note 4 - Fixed Assets         As of June 30, 2025 and December 31, 2024, fixed assets consisted of the following:       June 30,  December 31,   2025  2024 Property, leasehold and capitalized software $597,234  $579,954 TAEUS development and testing  125,151   125,151 Accumulated depreciation  (658,966)  (635,824)Fixed assets, net $63,419  $69,281  Depreciation expense for the six months ended June 30, 2025 and June 30, 2024 was $23,142 and $23,993, respectively.

Note 5 - Accounts Payable and Accrued Liabilities         As of June 30, 2025 and December 31, 2024, current liabilities consisted of the following:       June 30,  December 31,   2025  2024 Accounts payable $281,992  $269,683 Payroll accrual  110,677   63,140 Accrued employee benefits  5,750   5,750 Accrued expenses  50,000   169,720 Total $448,419  $508,293 

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 31, 2022 which was later extended to December 31, 2023. This note bears interest on the unpaid balance at the rate of zero percent (0%) per annum during the initial term. Under this note no interest payments were due until January 1, 2024. Under the conditions of the loan, twenty-five percent (25%) of the loan