Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 176

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 176
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 develop and maintain high
quality, attractive content, the value of our brand and our business, financial condition and operating results could be materially and
adversely impacted.

We
may be liable for use of content we provide.

If
any of the content that we provide to our customers, including content we generate as a result of our grant writing services, is incorrect
or incomplete, it may give rise to claims against us. While we maintain insurance coverage in an amount that we believe is sufficient
for our business, we cannot provide assurance that this coverage will prove to be adequate or will continue to be available on acceptable
terms, if at all. A claim that is brought against us that is uninsured or under-insured could materially and adversely impact our business,
financial condition and operating results. Even unsuccessful claims could result in substantial costs and diversion of management and
other resources.

Our
financial results may be adversely affected if we underprice our contracts, overrun our cost estimates or fail to receive approval for
or experience delays in documenting change orders.

Most
of our grant writing service contracts are either fee for service contracts or fixed-fee contracts. Our past financial results have been,
and our future financial results may be, adversely impacted if we initially underprice our contracts or otherwise overrun our cost estimates
and are unable to successfully negotiate a change order. Change orders typically occur when the scope of work we perform needs to be
modified from that originally contemplated by our contract with the client. Where we are not successful in converting out-of-scope work
into change orders under our current contracts, we will bear the cost of the additional work. Such underpricing, significant cost overruns
or delay in documentation of change orders could have a material adverse effect on our business, results of operations, financial condition
or cash flows.

As
we develop new services and clients, enter new lines of business, and focus more of our business on providing a full range of talent
solutions, the demands on our business and our operating risks may increase.

As
part of our strategy, we plan to extend our services. As we focus on developing new services, capabilities and clients, and engage in
business in new geographic locations, our operations may be exposed to additional as well as enhanced risks. In particular, our growth
efforts may place substantial additional demands on our management and other team members, as well as on our information, financial,
administrative, compliance and operational systems. We may not be able to manage these demands successfully. Growth may require