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

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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ization efforts or perhaps even cease the operation of its business. The ability of the
Company to continue as a going concern is dependent upon its ability to successfully secure other sources of financing and attain profitable
operations. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is
unable to continue as a going concern.

8

Recent Accounting Pronouncements

The Company considered recent accounting pronouncements
issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the SEC, did
not or in management’s opinion will not have a material impact on the Company’s present or future consolidated financial statements.

Note 3 - Inventory

As of September 30, 2025 and December 31, 2024,
inventory consisted of raw materials, subassemblies to be used in the assembly of Thermo-Acoustic Enhanced Ultrasound (“TAEUS”)
systems, and finished goods. As of September 30, 2025, the Company had no orders pending for the sale of a TAEUS system.

As of September 30, 2025 and December 31, 2024,
the Company had recorded reserves of $0 and $2,525,179, respectively. As of September 30, 2025 and December 31, 2024, the Company had
inventory valued at $0.

Note 4 - Fixed Assets

As of September 30, 2025 and December 31, 2024, fixed assets consisted of the following:            

    September 30,  
    December 31, 

    2025  
    2024 
  
    Property, leasehold and capitalized software 
    $597,234  
    $579,954 
  
    TAEUS development and testing 
     125,151  
     125,151 
  
    Accumulated depreciation 
     (669,753) 
     (635,824)
  
    Fixed assets, net 
    $52,633  
    $69,281 

Depreciation
expense for the three months ended September 30, 2025 and September 30, 2024 was $10,786 and $11,496, respectively.

Depreciation expense for the nine months ended
September 30, 2025 and September 30, 2024 was $33,928 and $35,489, respectively.

Note