Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 648

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 5
Chunk 648
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 Finally, delisting of the Class A common stock could result in the Class A common
stock becoming a “penny stock” under the Exchange Act.

    F-17

Class
A Common Stock Warrants

 Summary
of Activity of Outstanding Stock Warrants

    The following is a summary of activity of outstanding stock warrants: 
       
    Weighted 

    Average 

    Number  
    Exercise 

    of Shares  
    Prices 
  
    Balance, December 31, 2023 
     1,760,350  
    $6.39 
  
    Warrants granted 
     6,566,406  
     0.64 
  
    Warrants exercised 
     (130,789) 
     6.50 
  
    Warrants cancelled 
     -  
     - 
  
    Balance, December 31, 2024 
     8,195,967  
    $1.78 
  
    Exercisable, December 31, 2024 
     8,195,967  
    $1.78 

The
warrants had a weighted average remaining life of 3.15 years and no intrinsic value as of December 31, 2024.

Convertible
Class B Common Stock

The
Company has 5,000,000 authorized shares of $0.001 par value convertible Class B common stock, and had 833,334 shares issued and outstanding
as of December 31, 2024, as retrospectively applied, pursuant to the Company’s subsequent recapitalization in 2022 and effective
as of May 3, 2022, whereby the founders exchanged their 83,334 Founders Shares for 833,334 shares of convertible Class B common stock.

Note
12 – Common Stock Options

Omnibus
Equity Incentive Plan

On
April 11, 2022, the Company’s board of directors adopted, and the Company’s stockholders approved, the Syra Health Corp.
2022 Omnibus Equity Incentive Plan, as amended on April 19, 2023 (as amended, the “2022 Plan”). No more than 1,041,667 shares
of the Company’s Class A common stock shall be issued pursuant to the exercise of incentive stock options under the 2022 Plan.

Class
A Common Stock Option Awards

During
the year ended December 31,