Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 747

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 7
Chunk 747
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 the space for executive and administrative offices. Rent expense for the years ended December
31, 2024 and 2023 was $131,516 and $128,527, respectively, which is included in selling,
general and administrative expenses within the statements of operations.

The
components of lease expense were as follows:

 Schedule
of Lease Expenses

    2024  
    2023 

    For the Year Ended 

    December 31, 

    2024  
    2023 
  
    Operating lease cost: 

    Amortization of ROU asset 
    $282,876  
    $121,089 
  
    Interest on lease liability 
     16,314  
     7,438 
  
    Total operating lease cost 
    $299,190  
    $128,527 

Supplemental
balance sheet information related to leases was as follows:

 Schedule of Supplemental Balance Sheet Information

    December
    31,

    December
    31,

    2024

    2023

    Operating
    lease:

    Operating
    lease assets
     
    $
    299,190

    $
    63,199

    Current
    portion of operating lease liability, related party
     
    $
    111,978

    63,199

    Noncurrent
    operating lease liability, related party

    187,212

    -

    Total
    operating lease liability
     
    $
    299,190

    $
    63,199

    Weighted
    average remaining lease term:

    Operating
    leases

    2.50
    years

    0.5
    years

    Weighted
    average discount rate:

    Operating
    lease

    9.25
    %

    5.75
    %

The
following payments are required under leases as of December 31, 2024:

 Schedule of Payments Under Leases

    Remaining 

    Operating  
    Term in 

     Lease  
    Years 
  
    2025 
     134,505  

    2026 
     134,505  

    2027 
     67,252  

    Total lease payments 
     336,262  

    Less: imputed interest 
     (37,072) 

    Present value of