Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 162

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 162
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 expand our operations to other metropolitan areas. As we continue our expansion, we
anticipate that our professional pool and infrastructure will grow to support the breadth and depth of our services. With our rapid growth
of sales and business development teams, we intend to replicate our current projects with similar customers across the country. We plan
to open offices in multiple geographical locations to support our sales and business development efforts and intend to invest in partnerships
with subject matter experts to further enhance our service lines and provide real-world insights. In addition to organic efforts, we
may expand our footprint by acquiring companies that offer similar service lines. It is anticipated that such companies will strengthen
our current service offerings and may also include new services that we may offer to our clients. Our flagship product, Syrenity, is
a proprietary behavioral and mental health application designed to address the growing mental health crisis. We are strategically preparing
for its launch in global markets while continually advancing its scientific foundation and AI technology to enhance user outcomes. Additionally,
our government solutions service line of business positions us to work on federal government healthcare and related projects from several
agencies such as the United States Department of Health and Human Services, the Centers for Disease Control and Prevention, the National
Institutes of Health, the National Aeronautics and Space Administration and the United States Department of Defense.

Government
Regulations

Our
business is heavily regulated. We are subject to oversight by governmental entities in the U.S., and a failure, or alleged failure, by
us to comply with statutes, regulations, or other laws could have a material adverse impact to our business operations, reputation, results
of operations and financial position.

Government
Contracts: Our contracts with government entities typically are subject to procurement laws that include socio-economic, employment
practices, environmental protection, recordkeeping and accounting, and other requirements. These statutory and regulatory requirements
complicate our business and increase our compliance burden. We are subject to audits, investigations, and oversight proceedings about
our compliance with contractual and legal requirements. If we fail to comply with these requirements, or we fail an audit, we may be
subject to sanctions such as monetary damages, criminal and civil penalties, termination of contracts and suspension or debarment from
government contract work. Furthermore, the government may terminate any of our government contracts and subcontracts either at its convenience
or for default based on our performance. If a contract is terminated for convenience, we generally are protected by provisions covering
reimbursement for costs incurred on