Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 21

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 initial fair value for the warrant liability on August 20, 2024, the date the warrants were initially exercisable. Upon exercise,
the instrument is marked to its fair value upon exercise, and the shares delivered are recorded at fair value in the Company’s statement
of stockholders’ equity. The warrant liability was valued based on the following inputs for the Series A and Series B Warrants,
respectively:

    Input 
    September 30, 2025 
    December 31, 2024
  
    Exercise Price 
    $75.95 
    $28.70 and $1.75
  
    Stock Price 
    $5.38 
    $7.26
  
    Volatility 
    151.2% and 151.9% 
    131% and 167%
  
    Discount Rate 
    3.67% and 3.65% 
    4.36%
  
    Expected Dividend 
    - 
    -
  
    Expected Life (Years) 
    3.89 and 1.39 
    4.64

Note 10 - Related Party Transactions

In September 2024,
the Company began using IS Bookkeeping & Payroll, which is a division of Impact Solve, LLC (dba Impact Solutions) (“Impact Solutions”),
an accounting and chief financial officer service firm. The Company’s Chief Financial Officer works in a part-time capacity for
the Company through Impact Solutions. For the three month periods ended September 30, 2025 and September 30, 2024, Impact Solutions and
IS Bookkeeping & Payroll provided services to the Company totaling $45,548 and $35,881, respectively.  For the nine month periods
ended September 30, 2025 and September 30, 2024, Impact Solutions and IS Bookkeeping & Payroll provided services to the Company totaling
$126,566 and $63,831, respectively. 

Note 11 - Commitments and Contingencies

Office Lease

Effective January 1, 2015, the Company entered
into an office lease agreement with Green Court, LLC, a Michigan limited liability company, for approximately 3,657 rentable square feet
of space, for the initial monthly rent of $5,986, which commenced on January 1, 2015 for an initial term of 60 months. On October 10,
2017 this lease was amended increasing the rentable square