Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 19

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 19
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 and the management
team of Syra and their affiliates. Of these costs $212,691 are included in professional services, $46,295 in selling, general and administrative
expenses, and $57,571 in research and development expenses in the statement of operations during the nine months ended September 30,
2025. 

For
the nine months ended September 30, 2024, the Company paid a total of $421,013 for services from NLogix IT Services Private Limited,
which is an entity beneficially owned by the principal owners and the management team of Syra and their affiliates Of these costs $66,333
are included in cost of services, and $354,680 in selling, general and administrative expenses, in the statement of operations during
the nine months ended September 30, 2024.

    F-11

Note
4 – Basic and Diluted Earnings per Share

During
the three and nine months ended September 30, 2025, the Company used the two-class method to compute net loss per common share because
it had issued securities, other than a single class of common stock, that contractually entitled the holders to participate in dividends
and earnings. These participating securities included the Company’s Class A common stock, which was authorized pursuant to the
Company’s amendment to its Certificate of Incorporation on May 2, 2022, and convertible Class B common stock which are entitled
to share equally, on a per share basis, in all assets of the Company of whatever kind available for distribution to the holders of common
stock. The two-class method requires earnings for the period to be allocated between common stock and participating securities based
upon their respective rights to receive distributed and undistributed earnings.

Under
the two-class method, for periods with net income, basic net income per common share is computed by dividing the net income attributable
to common stockholders by the weighted average number of shares of common stock outstanding during the period. Net income attributable
to common stockholders is computed by subtracting from net income the portion of current period earnings that the participating securities
would have been entitled to receive pursuant to their dividend rights had all of the period’s earnings been distributed. No such
adjustment to earnings is made during periods with a net loss, as the holders of the participating securities have no obligation to fund
losses.

The
Company reports the more dilutive of the approaches (two-class or “if-converted”) as its diluted net income per share during