Company: NDRA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110887
Chunk: 116

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 cryptocurrencies. Even if we are able to prevent our cryptocurrencies from being considered the property of a custodian’s bankruptcy
estate as part of an insolvency proceeding, it is possible that we would still be delayed or may otherwise experience difficulty in accessing
our cryptocurrencies held by the affected custodian during the pendency of the insolvency proceedings. Any such outcome could have a material
adverse effect on our financial condition and the market price of our listed securities.

Risks Related to Owning Our Securities, Our Financial
Results and Our Need for Financing

Our stock is subject to minimum requirements
to remain listed on the Nasdaq Capital Market, including a minimum bid price requirement and stockholders’ equity requirement, and
may be delisted if it does not maintain compliance with those requirements.

On May 3, 2024, the Company received a notification
letter from the Listing Qualifications Department of Nasdaq (the “Staff”) notifying the Company that, because the closing
bid price for the Company’s common stock listed on Nasdaq was below $1.00 for 30 consecutive trading days, the Company no longer
met the minimum bid price requirement for continued listing on The Nasdaq Capital Market under Nasdaq Marketplace Rule 5550(a)(2), requiring
a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”).

Effective August 16, 2024, the Company effected a
reverse stock split at a ratio of one-for-fifty (“August Reverse Stock Split”). The August Reverse Stock Split did not
have the intended effect of regaining compliance with the Nasdaq Minimum Bid Price Rule and shares of the Company’s common stock
opened for trading on a post-split basis on the Nasdaq Capital Market on August 20, 2024 at a bid price of $0.99.

28

The Company held a special meeting of the stockholders
on October 28, 2024 for the purpose of approving a subsequent reverse stock split.  Following stockholder approval, the Company filed
a Certificate of Amendment to the Company’s Certificate of Incorporation with the Secretary of State of Delaware to effect a 1-for-35
reverse stock split of the shares of the Company’s common stock, effective as of November 7, 2024 (the “November Reverse Stock
Split”). As a result of the November Reverse Stock Split, the Company regained compliance with the Nasdaq Minimum Bid Price Requirement.
If we fall below the Minimum Bid Price Requirement again, we cannot be certain