Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 167

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 167
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 license intellectual property rights and other operating restrictions that could adversely
impact our ability to conduct our business.

If
we are unable to obtain funding on a timely basis, we may be required to significantly curtail, delay or discontinue our operations or
be unable to expand our operations or otherwise capitalize on our business opportunities, as desired, which could materially affect our
business, financial condition and results of operations.

-8-

Our
independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern, which
may hinder our ability to obtain future financing.

Our
independent registered public accounting firm included in its opinion for the years ended December 31, 2024 and 2023 an explanatory paragraph
referring to our recurring losses from operations and expressing substantial doubt in our ability to continue as a going concern without
additional capital becoming available. Our ability to continue as a going concern is dependent upon our ability to obtain additional
equity or debt financing, reduce expenditures and generate significant revenue. Our financial statements as of December 31, 2024 did
not include any adjustments that might result from the outcome of this uncertainty. The reaction of investors to the inclusion of a going
concern statement by our auditors, and our potential inability to continue as a going concern, in future years could materially adversely
affect our share price and our ability to raise new capital.

Risks
Related to Our Business and Industry

We
face significant competition, which may harm our business, results of operations or financial condition.

We
face substantial competition in the healthcare services markets. Our key competitors include, among others, healthcare consulting service
providers, healthcare payment accuracy companies and providers of other data products and data analytics solutions, including healthcare
risk adjustment, quality, economic statistics, and other data. We also compete with certain of our customers that internally provide
some of the same solutions that we offer. The increasing standardization of certain healthcare services has made it easier for companies
to enter these markets with competitive products and services. We cannot fully anticipate whether or when companies in adjacent or other
product or service areas may launch competitive products and/or services, and any such entry may lead to obsolescence of our products
and/or services or loss of market share or erosion of the prices for our solutions, or both. The extent of this competition may vary
by the size of companies, geographical coverage and scope and breadth of products and services offered. Furthermore, some of our competitors
are significantly larger and have