Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 34

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 1
Chunk 34
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 of interest income, for the six months ended June 30, 2024. Other expense, on a net basis, decreased
by $3,630, or 121%, primarily due to increased interest income compared to the prior period.

Net
Loss

Our
net loss for the six months ended June 30, 2025 was 535,861, compared to a net loss of $2,837,306 for the six months ended June 30, 2024,
a decrease of $2,301,445.

8

Liquidity
and Capital Resources

We
believe that our existing sources of liquidity, along with cash expected to be generated from sales and services, will not be sufficient
to fund our operations, anticipated capital expenditures, working capital and other financing requirements for at least the next twelve
months from the issuance of the financial statements included elsewhere in this annual report. In the event we are unable to achieve
profitable operations in the near term, we may require additional equity and/or debt financing; however, we cannot provide assurance
that such financing will be available to us on favorable terms, or at all. We will continue to monitor our expenditures and cash flow
position.

The
following table summarizes total current assets, liabilities, accumulated deficit and working capital (deficit) at June 30, 2025 and
December 31, 2024.

    June
    30,  
    December
    31, 

    2025  
    2024 
  
    Current
    Assets 
    $3,434,729  
    $3,352,795 

    Current
    Liabilities 
    $1,057,299  
    $613,549 

    Accumulated
    Deficit 
    $(9,360,054) 
    $(8,824,193)

    Working
    Capital 
    $2,377,430  
    $2,739,246 

Liquidity
is the ability of a company to generate funds to support its current and future operations, satisfy its obligations, and otherwise operate
on an ongoing basis. To date, we have funded our operations through equity and debt financings. Our primary uses of cash have been for
the development of operations, compensation, and professional fees. All funds received have been expended in the furtherance of growing
our business and establishing our services and solutions. The following trends are reasonably likely to result in