Company: NDRA
Filing Date: 2025-07-16
Form Type: S-1/A
Source: 0001654954-25-008117
Chunk: 38

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-07-16
Form: S-1/A
Chunk 38
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 determined the amount of these net proceeds to be used specifically for any particular purpose or the timing of these expenditures. Accordingly, our management will have significant discretion and flexibility in applying these net proceeds from the sale of these securities, and investors will be relying on our judgment regarding the application of the net proceeds from this offering.

The expected use of net proceeds from this offering represents our intentions based upon our present plans and business conditions. Other than the portion of net proceeds to be used to purchase cryptocurrency, we cannot predict with certainty all of the particular uses for the proceeds of this offering or the exact amounts that we will actually spend on the uses set forth above.

Pending our use of the net proceeds from this offering as described above, we intend to maintain any net proceeds as cash deposits or cash management instruments, such as U.S. government securities or money market mutual funds.

| 27 |

<div align='center'>CAPITALIZATION</div>

The following table sets forth our capitalization as of March 31, 2025:

| · | on an actual basis; and                                                                                                                                                                  |
| · | on an as adjusted basis, after giving effect to the application of the net proceeds of this offering after deducting the Underwriter fees and estimated offering expenses payable by us. |

The information set forth in the following table should be read in conjunction with and is qualified in its entirety by “Use of Proceeds” above, as well as our “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our financial statements and the notes to those financial statements incorporated by reference in this prospectus. See “The Offering” in this prospectus for information relating to the expected number of shares of our common stock to be outstanding after this offering. Our capitalization following the closing of this offering will be adjusted based on the actual public offering price and other terms of this offering determined at pricing.

|                                                                                                                                                             |     | As of March 31, 2025 |              |   |     |                                |              |   |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:---------------------|-------------:|:--|:----|:-------------------------------|-------------:|:--|
|                                                                                                                                                             |     | Actual               |              |   |     | As Adjusted for this Offering* |              |   |
| Cash and cash equivalents                                                                                                                                   |     | $                    |    2,064,874 |   |     | $                              |    7,064,874 |   |
| Cryptocurrency                                                                                                                                              |     |