Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 196

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 196
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 in which
we have total annual gross revenue of at least $1.235 billion or (c) in which we are deemed to be a large accelerated filer, which means
the market value of our Class A common stock held by non-affiliates exceeds $700 million as of the end of our prior second fiscal quarter,
and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior three-year period.

-25-

In
addition, under the JOBS Act, emerging growth companies may delay adopting new or revised accounting standards until such time as those
standards apply to private companies. We may, in the future, elect not to avail ourselves of this exemption from new or revised accounting
standards and, therefore, may be subject to the same new or revised accounting standards as other public companies that are not emerging
growth companies.

We
cannot predict if investors will find our Class A common stock less attractive because we may rely on these exemptions. If some investors
find our Class A common less attractive as a result, there may be a less active trading market for our Class A common and our share price
may be more volatile.

ITEM
1B. UNRESOLVED STAFF COMMENTS

None.

ITEM
IC. CYBERSECURITY

We
believe cybersecurity is critical to advancing our technological advancements. As a healthcare services company, we face a multitude
of cybersecurity threats that range from attacks common to most industries, such as ransomware and denial-of service. Our customers,
suppliers, subcontractors, and business partners face similar cybersecurity threats, and a cybersecurity incident impacting us or any
of these entities could materially adversely affect our operations, performance, and results of operations. These cybersecurity threats
and related risks make it imperative that we expend resources on cybersecurity including protection across our operations and to ensure
the appropriate acquisition, access, use, and/or disclosure of protected health information (“PHI”), personal identifiable
information (“PII”), and payment card information (“PCI”)

The
Administrative Simplification Provisions of the Health Insurance Portability and Accountability Act (“HIPAA”) and its implementing
regulations include substantial restrictions and requirements with respect to the use and disclosure of a subset of PHI, and require
covered entities, including health plans, healthcare clearinghouses, and most healthcare providers, to implement administrative, physical,
and technical safeguards to protect the confidentiality, integrity, and availability of electronic PHI maintained or transmitted by them
or by