SCHEDULE 13G

CUSIP No.

114082308

1

Names of Reporting Persons

IAF, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

3

Sec Use Only

4

Citizenship or Place of Organization

SOUTH CAROLINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 315,779.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 315,779.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

315,779.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

11

Percent of class represented by amount in row (9)

4.1 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Percentage of ownership in Row 11 is based on an aggregate of 7,670,889 shares of Common Stock outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on August 13, 2025. This Amendment No. 3 amends the Schedule 13G filed by the Reporting Person named therein on December 20, 2023, as amended by Amendment No. 1 filed on February 12, 2025 and Amendment No. 2 filed on May 14, 2025. This Amendment No. 3 is being filed to report that the Reporting Person has ceased to be the beneficial owner of more than five percent of the outstanding shares of common stock of the Issuer and constitutes an "exit filing" for the Reporting Person.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Ernexa Therapeutics Inc.

(b)

Address of issuer's principal executive offices:

1035 Cambridge Street, Suite 18A, Cambridge, MA 02141

Item 2.

(a)

Name of person filing:

IAF, LLC

(b)

Address or principal business office or, if none, residence:

c/o 115 Church Street, Charleston, South Carolina 29401

(c)

Citizenship:

South Carolina

(d)

Title of class of securities:

Common Stock, par value $0.005 per share

(e)

CUSIP No.:

114082308

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

See Row 9 of the Reporting Person's cover page to this Schedule 13G.

(b)

Percent of class:

See Row 11 of the Reporting Person's cover page to this Schedule 13G.

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

See Row 5 of the Reporting Person's cover page to this Schedule 13G.

(ii) Shared power to vote or to direct the vote:

See Row 6 of the Reporting Person's cover page to this Schedule 13G.

(iii) Sole power to dispose or to direct the disposition of:

See Row 7 of the Reporting Person's cover page to this Schedule 13G.

(iv) Shared power to dispose or to direct the disposition of:

See Row 8 of the Reporting Person's cover page to this Schedule 13G.

Item 5.

Ownership of 5 Percent or Less of a Class.

Ownership of 5 percent or less of a class

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

IAF, LLC

Signature:	/s/ Edward Bennett
Name/Title:	Edward G. R. Bennett, Authorized Person
Date:	08/18/2025