Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 71

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 71
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our business and establishing our services and solutions. The following trends are reasonably likely to result in a material decrease
in our liquidity over the near to long term:

    ●
    A
    substantial increase in working capital requirements to finance our operations;

    ●
    Addition
    of administrative and professional personnel as our business continues to grow;

    ●
    The
    cost of being a public company; and

    ●
    Payments
    for seeking and securing quality staffing personnel.

Cash
Flow Activities for the Six Months Ended June 30, 2025 and 2024

Net
Cash Used in Operating Activities 

Cash
used provided by operating activities for the six months ended June 30, 2025 was $85,754 and cash used in operating activities
for the six months ended June 30, 2024 was $2,304,012. The improvement in operating cash activities is a result of our efforts to
reduce expenses and better working capital management.

Net
Cash Used in Investing Activities

Cash
used in investing activities for the six months ended June 30, 2025 and 2024 was $0 and $11,111, respectively, which related entirely
to the purchase of property and equipment during both periods.

Net
Cash Provided by Financing Activities

Cash
used in financing activities for the six months ended June 30, 2025 was $175,235, which consisted of $14,800 of proceeds received from
the exercise of Class A common stock warrants, offset by $190,035 of repayments on notes payable. Cash provided by financing activities
for the six months ended June 30, 2024 was $629,400, which consisted of $850,129 of proceeds received from the exercise of Class A common
stock warrants, partially offset by $220,729 of repayments on notes payable.

9

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