Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 39

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 39
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 for the nine months ended September 30, 2025 was $260,306, which consisted of $14,800 of proceeds received
from the exercise of Class A common stock warrants, offset by $275,106 of repayments on notes payable. Cash provided by financing activities
for the nine months ended September 30, 2024 was $2,145,808, which consisted of $2,469,150 of proceeds received from the exercise of
Class A common stock warrants, partially offset by $323,342 of repayments on notes payable.

Critical
Accounting Policies and Estimates

The
preparation of the financial statements included elsewhere in this Quarterly Report on Form 10-Q requires us to make estimates and assumptions
that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosures. We evaluate our estimates and assumptions
on an ongoing basis. Our estimates are based on historical experience and various other assumptions that we believe to be reasonable
under the circumstances. Our actual results could differ from these estimates.

The
critical accounting estimates, assumptions and judgments that we believe have the most significant impact on our financial statements
are described below.

Accounts
Receivable

Accounts
receivable is carried at their estimated collectible amounts. Accounts receivable is periodically evaluated for collectability based
on past credit history with customers and their current financial condition. We had an allowance of $5,520 at September 30, 2025 and
December 31, 2024, respectively.

Impairment
of Long-Lived Assets

In
accordance with the provisions of Accounting Standards Codification (“ASC”) Topic 360, “Impairment or Disposal of
Long-Lived Assets,” all long-lived assets such as property and equipment held and used by us are reviewed for impairment whenever
events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to
be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected
to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount
by which the carrying amounts of the assets exceed the fair value of the assets.

9

Leases

We
account for our leases under ASC 842 - Leases. We determine if an arrangement is a lease at inception. Operating leases are included
in operating lease right-of-use (“ROU”)