Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 55

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 55
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 2024, and provides for a base monthly rent of $11,209. The lease was also amended on March 3, 2025 and in July 2025,
and provides for a base monthly rent of $11,209 through June 30, 2027. The lease was further amended on July 1, 2025, and provides for
a base monthly rent of $5,580 from September 1, 2025 through May 31, 2026. A total of $89,621 and $109,098 was included in selling, general
and administrative expenses for the nine months ended September 30, 2025 and 2024, respectively. An unpaid balance of $5,580 and $0 was outstanding at September 30, 2025, and December 31, 2024, respectively,
as presented within accounts payable, related parties.

Information
Technology (“ IT”) Services

The
Company incurred a total of $326,357
and $16,233
of services from RAD CUBE LLC, which is an entity beneficially owned by the principal owners and the management team of Syra and
their affiliates, for outsourced IT services which have been presented within selling, general and administrative expenses in the
statements of operations during the nine months ended September 30, 2025 and 2024, respectively. An unpaid balance of $75,017 and $0 was outstanding at September 30, 2025, and December 31, 2024, respectively,
as presented within accounts payable, related parties.

Recruitment
and Human Resource Services

For
the nine months ended September 30, 2025, the Company paid a total of $195,428 and $121,129 for services from NLogix IT Services Private
Limited and SKL Demand Private Limited, respectively, which are entities beneficially owned by the principal owners 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