Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 18

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 1
Chunk 18
---
 at June 30, 2025 and December 31, 2024, consisted of the following:

 Schedule of Property and Equipment

    June 30,  
    December 31, 

    2025  
    2024 
  
    Office equipment – 5 year estimated life 
    $86,958  
    $86,958 
  
    Leasehold improvements – 2 year estimated life 
     60,783  
     60,783 
  
    Furniture and fixtures – 7 year estimated life 
     6,170  
     6,170 
  
    Property and equipment, gross
 
     6,170  
     6,170 
  
    Less: Accumulated depreciation 
     (139,339) 
     (126,564)
  
    Total property and equipment, net 
    $14,572  
    $27,347 

Depreciation
of property and equipment was $12,775 and $29,919 for the six months ended June 30, 2025 and 2024, respectively.

Note
7 – Accrued Expenses

Accrued
expenses at June 30, 2025 and December 31, 2024, consisted of the following:

 Schedule of Accrued Expenses

    June 30,  
    December 31, 

    2025  
    2024 
  
    Accrued payroll and taxes 
    $88,733  
    $202,038 
  
    Accrued expenses 
     36,020  
     28,345 
  
    Total accrued expenses 
    $124,753  
    $230,383 

    F-12

The
Company provides postretirement benefits pursuant to IRS code section 401(k) for employees meeting specified criteria. The Company matches
100% of the employees’ contributions that are not in excess of 4% of the employee’s contributions. These matching contributions
are fully vested and paid pursuant to the employees’ bi-weekly or semi-monthly pay periods. The Company does not prefund these
benefits and has the right to modify or terminate certain of these benefits in the future. For the six months ended June 30, 2025, the
Company incurred $35,665 of IRA contribution expenses pursuant to the Company’s matching contributions, including $0, as accrued
at June 30