Sec Form 4 Filing - Michelon Francois Roger @ ENDRA Life Sciences Inc. - 2018-06-28

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Michelon Francois Roger
2. Issuer Name and Ticker or Trading Symbol
ENDRA Life Sciences Inc. [ NDRA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last) (First) (Middle)
C/O ENDRA LIFE SCIENCES INC., 3600GREEN COURT, SUITE 350
3. Date of Earliest Transaction (MM/DD/YY)
06/28/2018
(Street)
ANN ARBOR, MI48105
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Convertible Promissory Note ( 1 ) 06/28/2018 A ( 2 ) 12/31/2018 Common Stock 4,961 ( 3 ) $ 10,000 $ 10,000 D
Warrants $ 2.52 06/28/2018 A 2,48 0 12/28/2018 06/28/2021 Common Stock 2,480 $ 0 ( 4 ) 2,480 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Michelon Francois Roger
C/O ENDRA LIFE SCIENCES INC.
3600GREEN COURT, SUITE 350
ANN ARBOR, MI48105
X Chief Executive Officer
Signatures
/s/ Francois R. Michelon by Mark Busch, attorney-in-fact 07/02/2018
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The Convertible Promissory Note (the "Note") is convertible into the Issuer's common stock at a conversion price equal to the lesser of (a) the lowest per share price at which common stock is sold by the Issuer in a sale resulting in aggregate gross cash proceeds of at least $7.0 million (a "Qualified Financing"), less a discount of 20%, or (b) $2.016, but in any event no less than a conversion price floor of $1.40, which conversion price is subject to adjustment in certain circumstances in accordance with the terms of the Note.
( 2 )The principal amount of the Note will automatically convert into shares of the Issuer's common stock (i) upon the consummation of a Qualified Financing or (ii) if the holders of a majority of the aggregate principal amount of outstanding Convertible Promissory Notes elect to convert such notes at any time until three days prior to a Qualified Financing. Additionally, the reporting person is entitled to convert the principal amount of the Note into common stock (i) at any time until three days prior to the consummation of a Qualified Financing or (ii) if a material Event of Default (as defined in the Note) shall have occurred and be continuing. In each case, conversion is subject to the terms and provisions of the Note.
( 3 )The number of shares of common stock shown in Column 7 assumes a conversion price of $2.016, which is subject to adjustment in certain circumstances (see Footnote 1).
( 4 )The Warrants were issued for no additional consideration in connection with the offer and sale of the Note.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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