Company: NDRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009643
Chunk: 54

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 54
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23,142, change in fair value of warrant liability of $(470,674), and net changes in operating assets and liabilities of $75,890.

21Table of Contents

Investing Activities

During the six months ended June 30, 2025, we used $17,280 in investing activities related to purchases of fixed assets.During the six months ended June 30, 2024, we used $16,000 in investing activities related to purchases of fixed assets, and received $3,204 in proceeds from sale of fixed assets.

Financing Activities

During the six months ended June 30, 2025, our financing activities provided $1,003,218 in proceeds from issuances of common stock.During the six months ended June 30, 2024, our financing activities provided $1,148,470 in proceeds from issuances of common stock, $6,687,248 in proceeds from warrant exercises. We also used $28,484 to repay a loan from TD Bank under the Canadian Emergency Business Account.

Long-Term Liquidity

We have not completed the commercialization of any of our TAEUS technology platform applications. We expect to continue to incur significant expenses for the foreseeable future. We anticipate that our expenses will increase substantially as we:

 ·advance the engineering design and development of our TAEUS technology;    ·acquire parts and build finished goods inventory of the TAEUS FLIP system;    ·complete regulatory filings required for marketing approval of our NAFLD TAEUS application in the United States, including clinical studies to advance our de novo application with the FDA;    ·seek to hire a small internal marketing team to engage and support channel partners and clinical customers for our NAFLD TAEUS application;    ·expand marketing of our NAFLD TAEUS application;    ·advance development of our other TAEUS applications; and    ·add operational, financial and management information systems and personnel, including personnel to support our product development, planned commercialization efforts and our operation as a public company.

It is possible that we will not achieve the progress that we expect because the actual costs and timing of completing the development and regulatory approvals for a new medical device are difficult to predict and are subject to substantial risks and delays. We have no committed external sources of funds except for the February 2024 ATM Agreement, the use of which may be limited due to registration statement rules relating to public float. We do not expect that our existing