Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 60

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 60
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les Pricing Model, based on an expected terms of 6.25 and 3.54 years, a weighted average volatility
rate ranging from 109% to 126%, a weighted average risk-free interest rate ranging from 3.82% to 4.63%, and a weighted average call option
value ranging from $0.331 to $1.450, was $79,383. The expected term was estimated using the simplified method allowed under SEC Staff
Accounting Bulletin 107 (“SAB 107”). During the six months ended June 30, 2025 and 2024, the Company recognized expense of
$30,254 and $28,486 related to common stock options. As of June 30, 2025, a total of $122,734 of unamortized expenses are expected to
be expensed over the vesting period.

On
January 7, 2025, the Company granted options to purchase an aggregate 57,646 shares of the Company’s Class A common stock at an
exercise price of $0.7386 per share for terms of 10 years under the 2022 Plan. These options will vest 25% on each anniversary, and 25%
quarterly, until fully vested. The Company recognized expense of $23,814 for these awards and expects to recognize an additional $14,289
through the end of the vesting period.

The
following is a summary of activity of outstanding stock options:

 Schedule of Share-Based Compensation, Stock Options Activity

    Weighted 

    Average 

    Number  
    Exercise 

    of
    Shares  
    Prices 
  
    Balance,
    December 31, 2024 
     223,599  
    $1.32 
  
    Options
    granted 
     57,646  
     0.74 
  
    Options
    forfeited 
     (10,000) 
     1.28 
  
    Balance,
    June 30, 2025 
     271,245  
    $1.04 
  
    Exercisable,
    June 30, 2025 
     -  
    $- 

The
options had a weighted average remaining life of 8.79 years and no intrinsic value as of June 30, 2025.

Note
13 – Subsequent Events

The
Company evaluates events that have occurred after the balance sheet date