Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 304

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1A
Chunk 304
---
 (1,095,000)
  
    Repayments on notes payable 
     (410,676) 
     (185,692)
  
    Proceeds received from convertible notes payable 
     -  
     1,455,000 
  
    Net cash provided by financing activities 
     2,058,474  
     6,051,050 

    NET CHANGE IN CASH AND CASH EQUIVALENTS 
     (884,670) 
     3,276,731 
  
    CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 
     3,280,075  
     3,344 
  
    CASH AND CASH EQUIVALENTS AT END OF PERIOD 
    $2,395,405  
    $3,280,075 

    SUPPLEMENTAL INFORMATION: 

    Interest paid 
    $15,600  
    $36,226 
  
    Income taxes paid 
    $-  
    $- 

    NON-CASH INVESTING AND FINANCING ACTIVITIES: 

    Initial recognition of right-of-use asset and lease liability 
    $325,491  
    $- 
  
    Cancellation of Class A common stock 
    $-  
    $42 
  
    Non-cash application of invoices to STLogics loan 
    $-  
    $200,010 
  
    Class a common stock issued for debt and interest conversion 
    $-  
    $1,472,460 
  
    Options issued for accrued director fees 
    $24,267  
    $- 
  
    Prepaid asset financed with note payable 
    $378,659  
    $370,596 

See
accompanying notes to audited financial statements.

F-6

SYRA
HEALTH CORP.

NOTES
TO FINANCIAL STATEMENTS

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