Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 378

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1B
Chunk 378
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, the Company was notified by Nasdaq that it had regained compliance with the Minimum Shareholder
Equity Requirement.

On
October 18, 2024, the Company received a Notice from Nasdaq indicating that the bid price for its Class A common stock, for the last
30 consecutive business days for the last thirty consecutive business days, had closed below the minimum $1.00 per share and, as a result,
the Company was not in compliance with the $1.00 minimum bid price requirement (the “Minimum Bid Price Requirement”) for
the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2).

If
the Company fails to comply with Nasdaq’s continued listing standards, the Company may be delisted and its Class A common stock
will trade, if at all, only on the over-the-counter market, such as the OTC Bulletin Board or OTCQX market, and then only if one or more
registered broker-dealer market makers comply with quotation requirements. In addition, delisting of the Company’s Class A common
stock could depress our stock price, substantially limit liquidity of our Class A common stock and materially adversely affect our ability
to raise capital on terms acceptable to us, or at all. Finally, delisting of the Class A common stock could result in the Class A common
stock becoming a “penny stock” under the Exchange Act.

    F-17

Class
A Common Stock Warrants

 Summary
of Activity of Outstanding Stock Warrants

    The following is a summary of activity of outstanding stock warrants: 
       
    Weighted 

    Average 

    Number  
    Exercise 

    of Shares  
    Prices 
  
    Balance, December 31, 2023 
     1,760,350  
    $6.39 
  
    Warrants granted 
     6,566,406  
     0.64 
  
    Warrants exercised 
     (130,789) 
     6.50 
  
    Warrants cancelled 
     -  
     - 
  
    Balance, December 31, 2024 
     8,195,967  
    $1.78 
  
    Exercisable, December 31, 2024 
     8,195,967  
    $1.78 

The
warrants had a weighted average remaining life of 3