ENDRA Life Sciences Inc.NDRA

ENDRA Life Sciences Inc., trading as NDRA on NASDAQ, is a micro-cap medical device company whose latest quarterly filing (10-Q, period ending 31 March 2026) shows total assets of $3.4 million, liabilities of $1.7 million, and a net loss attributable to the parent of $1.3 million. Operating income was a $2.2 million loss, and cash used in operating activities was $1.1 million. The company’s diluted earnings per share were minus $1.09 on 1.2 million diluted shares outstanding. Capital spending for the prior quarter was a modest $17,280, while R&D expense clocked in at $776,410. Inventory, net, is reported at zero as of the 2025-12-31 10-K.

The company’s product focus is TTA ultrasound for non-alcoholic fatty liver disease and non-alcoholic steatohepatitis, illustrated on its website with the file ENDRA_NAFLD-NASH-2020.jpg. ENDRA also pledges a cap on overhead at 15% of contract value, although the same quarter’s operating loss was $2.2 million, so the constraint has not yet shown up in the P&L.

The most concrete recent development is a planned merger with Noble Africa, the holding vehicle for Renergen, announced in a joint press release on 17 July 2026 and repeated in filings on 22 July 2026. Both companies state that definitive documents-Form S-4 and a proxy statement-will be available at www.sec.gov when completed. Investors are invited to check the SEC site directly for the latest filings and exhibits.

On 9 July 2026, ENDRA filed an 8-K noting the merger announcement, and on 29 June 2026 a Schedule 13D/A disclosed beneficial ownership changes. The company’s SEC EDGAR index (CIK 1681682) and official company facts JSON provide the raw filing corpus, but no revenue, gross margin, cash guidance, or product revenue line is present in the latest disclosed data. The product page and image are consistent with the company’s historical focus but do not independently validate commercial traction.

NDRA’s market story therefore hinges on two unknowns: the financial terms of the Noble Africa merger and the substance of the forthcoming S-4 and proxy materials. Until those documents are published, the equity lacks audited financials, segment revenue, or definitive merger consideration. The SEC filings are the primary source of truth; external commentary, valuation commentary, and market rumour are not included in the evidence base.