Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 189

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 3
Chunk 189
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 will begin the process of delisting our common stock without providing a Minimum Bid Price Requirement compliance period. However,
the Company would still be eligible to request a hearing before the Nasdaq Panel to present its plan for regaining and sustaining compliance
with the Minimum Bid Price Requirement.

In addition to the Minimum Bid Price Requirement,
Nasdaq Marketplace Rule 5550(b) requires listed companies to maintain $2.5 million of stockholders’ equity, a market value of listed
securities of at least $35 million, or $500,000 of net income for the most recently completed fiscal year or for two of the three most
recently completed fiscal years (the “Stockholders’ Equity Requirement”).

On May 27, 2025, the Company received a notification
letter from the Staff notifying the Company that its stockholders’ equity had fallen below the $2,500,000 required minimum for continued
listing set forth in the Stockholders’ Equity Requirement. The notification letter stated that the Company had until July 11, 2025
to provide Nasdaq with a specific plan to achieve and sustain compliance. The Company submitted its plan to regain compliance on July
11, 2025 and subsequently provided the Staff with additional materials. On October 31, 2025, the Company received written notice that,
based on review of the compliance plan and additional materials, the Staff had granted the Company an extension to November 24, 2025 to
regain compliance with the Stockholders’ Equity Requirement.

As a result of the Company’s closing of a
private placement offering for gross proceeds of approximately $4.9 million on October 15, 2025, the Company believes it has
regained compliance with the minimum $2.5 million Stockholders’ Equity Requirement for continued listing. Nasdaq will continue
to monitor the Company’s ongoing compliance with the Stockholders’ Equity Requirement and, if at the time of its next
periodic report the Company does not evidence compliance, it may be subject to delisting.

If our common stock ceases to be listed for trading
on the Nasdaq Capital Market, we would expect that our common stock would be traded on one of the three tiered marketplaces of the OTC
Markets Group. If Nasdaq were to delist our common stock, it would be more difficult for our stockholders to dispose of our common stock
and more difficult to obtain accurate price quotations on our common stock. Our ability to issue additional securities for financing or