Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 166

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 166
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 deficit as of December 31, 2024 and December 31, 2023 was $8,824,193
and $5,064,955, respectively. If we are unable to achieve and maintain profitability, we may be unable to continue our operations.

We
will require substantial additional funding and if we are unable to raise capital on favorable terms when needed, we could be forced
to curtail, delay or discontinue our business.

Since
our inception, we have not generated sufficient revenues from our operations to continue to fund the development and expansion of our
business. To date, we have funded a significant portion of our operations through the sale of our equity securities. As of December 31,
2024 and 2023, we had cash of $2,395,405 and $3,280,075, respectively. We expect that our existing cash and cash from revenue will be
sufficient to fund our current operations through at least 12 months from the date of this annual report. However, our operating plan
may change as a result of many factors currently unknown to us, and we may need to seek additional funds sooner than planned, through
public or private equity or debt financings or other third-party funding or a combination of these approaches. Even if we believe we
have sufficient funds for our current or future operating plans, we may seek additional capital if market conditions are favorable or
based upon specific strategic considerations.

Any
additional fundraising efforts may divert our management from their day-to-day activities, which may adversely affect our ability to
develop and commercialize our products and services. In addition, we cannot guarantee that future financing will be available in sufficient
amounts or on terms acceptable to us, if at all. Moreover, the terms of any financing may adversely affect the holdings or the rights
of our stockholders and the issuance of additional securities, whether equity or debt, by us, or the possibility of such issuance, may
cause the market price of our shares to decline. The sale of additional equity or convertible securities may dilute our stockholders.
In addition, the future issuance of shares of Class B common stock may be dilutive to the holders of Class A common stock, particularly
with respect to their voting power. The incurrence of indebtedness would result in increased fixed payment obligations, and we may be
required to agree to certain restrictive covenants, such as limitations on our ability to make certain dividends, incur additional debt,
limitations on our ability to acquire, sell or