Company: SYRA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009279
Chunk: 6

Company: Syra Health Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 6
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 EQUIVALENTS AT END OF PERIOD 
    $2,490,585  
    $3,237,957 

    SUPPLEMENTAL INFORMATION: 

    Interest paid 
    $3,229  
    $4,077 
  
    Income taxes paid 
    $-  
    $- 
  
    NON-CASH INVESTING AND FINANCING ACTIVITIES: 

    Conversion of Class B common stock to Class A common stock 
    $2,333  
    $- 

See accompanying notes to condensed unaudited
financial statements.

F-4

SYRA HEALTH CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(Unaudited)

Note 1 – Nature of Business and Significant Accounting Policies

Nature of Business 

Syra Health Corp. (“Syra” or the “Company”)
was incorporated in the state of Indiana on November 20, 2020 to provide workforce staffing solutions, health education and healthcare
research consulting services to mental health hospitals and organizations, including government agencies, integrated health networks,
managed care entities and pharmaceutical manufacturers. On March 11, 2022, the Company redomiciled to Delaware. The Company’s corporate
office is located in Carmel, Indiana.

Basis of Presentation

The accompanying interim consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”)
and should be read in conjunction with the financial statements and notes thereto included in our Annual Report on Form 10-K for the year
ended December 31, 2024, which was filed with the Securities and Exchange Commission (“SEC”) on March 11, 2025. Certain information
and footnote disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been omitted from this
report on Form 10-Q pursuant to the rules and regulations of the SEC.

Results for the interim periods in this report are
not necessarily indicative of future financial results and have not been audited by our independent registered public accounting firm.
In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments necessary to present
fairly our interim financial statements as of March 31, 2025, and for the three months ended March 31, 2025 and 2024. These adjustments
are of a normal recurring nature and consistent with the adjustments recorded to prepare the annual audited financial statements as of