Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 139

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 139
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 towards our DAT strategy, while the amount of proceeds
from such offering we put towards our TAEUS program is limited to $750,000. To date we have funded our operations through private and
public sales of our securities and will need to raise additional funds in order to execute on our business plan, fully commercialize our
TAEUS technology, execute on our DAT strategy, and generate revenues.

We need additional capital to allow us to continue
to execute our commercialization plans and to execute on our DAT strategy. We are considering potential financing options that may be
available to us, such as sales of our common stock, including through our at-the-market sales program. Except for the at-the-market sales
program, we have no commitments to obtain any additional funds, and there can be no assurance funds will be available in sufficient amounts
or on acceptable terms. If we are unable to obtain sufficient additional financing in a timely fashion and on terms acceptable to us,
our financial condition and results of operations may be materially adversely affected and we may not be able to continue operations or
execute our stated commercialization plan.

The consolidated financial statements included in this Form 10-Q have
been prepared assuming we will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities
and commitments in the normal course of business. As reflected in the accompanying consolidated financial statements, during the nine
months ended September 30, 2025, we incurred net losses of $3,858,201 and used cash in operations of $3,570,847. In light of our cash
balance as of September 30, 2025, we will need to raise additional capital in order to fund operations through the next twelve months,
and prior to any ability to fund operations from revenue generated from the sale of our products. The financial statements do not include
any adjustments that might be necessary should we be unable to continue as a going concern.

Operating Activities

During the nine months ended September 30, 2025, we used $3,570,847
of cash in operating activities primarily as a result of our net loss of $3,858,201, offset by share-based compensation of $316,531, amortization
of right of use assets of $83,834, depreciation expense of $33,928, change in fair value of warrant liability of $(203,400), and net changes
in operating assets and liabilities of $56,461.

During the nine months ended September 30,