Company: SYRA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009279
Chunk: 15

Company: Syra Health Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 15
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, general and administrative expenses for the three months ended March 31, 2025
and 2024, respectively. 

Information Technology (“IT”) Services

The Company incurred a total of $137,411 and $0 of
services from RAD CUBE LLC, which is an entity beneficially owned by the principal owners and the management team of Syra and their affiliates,
for outsourced IT services which have been presented within selling, general and administrative expenses in the statements of operations
during the three months ended March 31, 2025 and 2024, respectively.

    F-10

Recruitment and Human Resource Services

For the three months ended March 31, 2025, the Company
paid a total of $64,226 and $41,911 for services from NLogix IT Services Private Limited and SKL Demand Private Limited, respectively,
which are entities beneficially owned by the principal owners and the management team of Syra and their affiliates. Of these costs $46,014
are included in professional services, $17,460 in selling, general and administrative expenses, and $28,622 in research and development
expenses in the statement of operations during the three months ended March 31, 2025. 

For the three
months ended March 31, 2024, the Company paid a total of $145,318 for services from NLogix IT Services Private Limited, which is an entity
beneficially owned by the principal owners and the management team of Syra and their affiliates Of these costs $24,826 are included in
cost of services, and $120,492 in selling, general and administrative expenses, in the statement of operations during the three months
ended March 31, 2024.

Note 4 – Basic and Diluted Earnings per Share

During the three months ended
March 31, 2025, the Company used the two-class method to compute net loss per common share because it had issued securities, other than
a single class of common stock, that contractually entitled the holders to participate in dividends and earnings. These participating
securities included the Company’s Class A common stock, which was authorized pursuant to the Company’s amendment to its Certificate
of Incorporation on May 2, 2022, and convertible Class B common stock which are entitled to share equally, on a per share basis, in all
assets of the Company of whatever kind available for distribution to the holders of common stock. The two-class method