Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 47

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 47
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 $827,122
and $1,032,827 cash in excess of FDIC insured limits at September 30, 2025 and December 31, 2024, respectively. The Company has not experienced
any losses in such accounts.

Fair
Value of Financial Instruments

Accounting
Standards Codification (“ASC”) 820 defines fair value, establishes a three-level valuation hierarchy for disclosures of
fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

    -
    Level
    1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

    -
    Level
    2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that
    are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

    -
    Level
    3 inputs to valuation methodology are unobservable and significant to the fair measurement.

    F-6

The
carrying value of the Company’s financial assets and liabilities, such as cash, accounts receivable and accounts payable are estimated
by management to approximate fair value primarily due to the short-term nature of the instruments. The Company’s advances from
related party approximates the fair value of such instruments based upon management’s best estimate of interest rates that would
be available to the Company for similar financial arrangements at September 30, 2025 and December 31, 2024.

Cash
and Cash Equivalents

Cash
equivalents include money market accounts which have maturities of three months or less when acquired. For the purpose of the statements
of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents.
Cash equivalents are stated at cost plus accrued interest, which approximates market value. There were $1,169,014 and $1,749,977 cash
equivalents on hand at September 30, 2025 and December 31, 2024, consistent of certificates of deposit with maturities of three months
or less.

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. The Company had an allowance of $5,520 at September 30,
2025 and December 31, 2024.

Property