Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 12

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 12
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2023, respectively, and the FSSA-Division of Mental Health and Addiction, representing $312,000 and $305,000 of the Company’s
Population Health revenues for each of the years ended December 31, 2024 and 2023, respectively. In addition, the combined divisions
of the FSSA (NeuroDiagnostic Institute and Division of Mental Health and Addiction), owed 56% and one other customer represented 11%,
of the Company’s accounts receivable respectively, at December 31, 2024, and FSSA represented 30% of outstanding accounts receivable
as of December 31, 2023.

Stock-Based
Compensation

The
Company accounts for equity instruments issued to employees and non-employees in accordance with the provisions of ASC 718 Stock Compensation
(“ASC 718”). All transactions in which the consideration provided in exchange for the purchase of goods or services consists
of the issuance of equity instruments are accounted for based on the fair value of the consideration received or the fair value of the
equity instrument issued, whichever is more reliably measurable.

Basic
and Diluted Loss Per Share

Basic
earnings per share (“EPS”) are computed by dividing net income (the numerator) by the weighted average number of common shares
outstanding for the period (the denominator). Weighted average shares for basic EPS are calculated based on weighted average Class A
and Class B shares outstanding. Diluted EPS is computed by dividing net income by the weighted average number of common shares and potential
common shares outstanding (if dilutive) during each period. Potential common shares include stock options, warrants, conversion of Class
B shares and restricted stock. The number of potential common shares outstanding relating to stock options, warrants, conversion of Class
B shares and restricted stock is computed using the treasury stock method. For the periods presented, potential dilutive securities had
an anti-dilutive effect and were not included in the calculation of diluted net loss per common share.

Income
Taxes

The
Company accounts for income taxes under the Financial Accounting Standards Board (“FASB”) ASC 740 Income Taxes (“ASC
740”), which requires use of the liability method. FASB ASC 740-10-25 provides that deferred tax assets and liabilities are recognized
for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities
and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply