ENDRA Life Sciences Files Q3 2024 10-Q

TL;DR

ENDRA Life Sciences filed its 10-Q for Q3 2024. NDRA stock info inside.

AI Summary

ENDRA Life Sciences Inc. filed its 10-Q for the quarterly period ended September 30, 2024. The company, incorporated in Delaware, is based in Ann Arbor, MI, and its common stock trades under the symbol NDRA on the Nasdaq Stock Market LLC. The filing details its financial performance and business operations for the specified period.

Why It Matters

This filing provides investors with the latest financial and operational details for ENDRA Life Sciences, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with its financial performance and market position.

Key Players & Entities

• ENDRA Life Sciences Inc. (company) — Registrant
• September 30, 2024 (date) — Quarterly period end date
• Delaware (jurisdiction) — State of incorporation
• Ann Arbor, MI (location) — Principal executive office location
• NDRA (ticker) — Trading symbol for Common Stock
• The Nasdaq Stock Market LLC (company) — Exchange where Common Stock is registered

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share NDRA The Nasdaq Stock Marke
• $142,733 — an inventory reserve of 5% amounting to $142,733, which resulted in the net carrying val
• $2,711,923 — the net carrying value of inventory of $2,711,923. 8 Table of Contents Capitalizatio
• $229,771 — ompany recorded a right of use asset of $229,771 and $354,091, respectively. At Septembe
• $354,091 — ed a right of use asset of $229,771 and $354,091, respectively. At September 30, 2024 an
• $237,162 — e Company recorded a lease liability of $237,162 and $365,919, respectively. Revenue Re
• $365,919 — orded a lease liability of $237,162 and $365,919, respectively. Revenue Recognition A
• $794,444 — 30, 2024 and 2023, the Company incurred $794,444 and $1,632,849 of expenses related to r
• $1,632,849 — 2023, the Company incurred $794,444 and $1,632,849 of expenses related to research and dev
• $2,552,336 — 30, 2024 and 2023, the Company incurred $2,552,336 and $ 4,424,345 of expenses related to
• $99,289,095 — from inception to September 30, 2024 of $99,289,095. The Company had working capital of $4,
• $4,148,262 — 095. The Company had working capital of $4,148,262 as of September 30, 2024. The Company h
• $142,7 — any recorded inventory reserve of 5% or $142,7

Filing Documents

• endra_10q.htm (10-Q) — 616KB
• endra_ex101.htm (EX-10.1) — 31KB
• endra_ex311.htm (EX-31.1) — 9KB
• endra_ex312.htm (EX-31.2) — 11KB
• endra_ex321.htm (EX-32.1) — 4KB
• endra_ex101img1.jpg (GRAPHIC) — 6KB
• 0001654954-24-014670.txt ( ) — 681KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets - September 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations - Three and Nine months Ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Stockholders' Equity – Three and Nine months Ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows - Nine months Ended September 30, 2024 and 2023 (unaudited) 7 Notes to the Condensed Consolidated Financial Statements (unaudited) 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24 Item 1.

Legal Proceedings

Legal Proceedings 25 Item1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosure 25 Item 5. Other Information 25 Item 6. Exhibits 26

Signatures

Signatures 27 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ENDRA Life Sciences Inc. Condensed Consolidated Balance Sheets September 30, December 31, Assets 2024 2023 Current Assets (Unaudited) Cash $ 4,745,187 $ 2,833,907 Prepaid expenses 217,120 198,905 Total Current Assets 4,962,307 3,032,812 Non-Current Assets Inventory, net 2,711,923 2,622,865 Fixed assets, net 80,281 111,782 Right of use assets 229,771 354,091 Prepaid expenses, long term 388,842 626,610 Other assets 5,986 5,986 Total Assets $ 8,379,110 $ 6,754,146 Liabilities and Stockholders' Equity Current Liabilities Accounts payable and accrued liabilities $ 626,706 $ 700,754 Lease liabilities, current portion 187,339 173,857 Loans - 28,484 Total Current Liabilities 814,045 903,095 Long Term Debt Lease liabilities 49,823 192,062 Warrant Liability 910,556 - Total Long Term Debt 960,379 192,062 Total Liabilities 1,774,424 1,095,157 Stockholders' Equity Series A Convertible Preferred Stock, $0.0001 par value; 10,000 shares authorized; 17.488 and 141.397 shares issued and outstanding, respectively - 1 Series B Convertible Preferred Stock, $0.0001 par value; 1,000 shares authorized; no shares issued and outstanding - - Series C Convertible Preferred Stock, $0.0001 par value; 100,000 shares authorized; no shares issued and outstanding - - Common stock, $0.0001 par value; 20,000,000 shares authorized; 534,863 and 5,937 shares issued and outstanding, respectively 53 1 Additional paid in capital 105,893,728 97,583,906 Stock payable - 5,233 Accumulated deficit (99,289,095 ) (91,930,152 ) Total Stockholders' Equity 6,604,686 5,658,989 Total Liabilities and Stockholders' Equity $ 8,379,110 $ 6,754,146 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents ENDRA Life Sciences Inc. Condensed Consolidated Statement

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View this 10-Q filing on SEC EDGAR