Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 87

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 2
Chunk 87
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4, a decrease
of $282,480, or 33%. Our SG&A expenses decreased primarily due to our efforts to reduce overhead in 2025. SG&A included $67,253
and $64,263 of rent incurred in both periods from STVentures, LLC, an entity beneficially owned by our principal owners, our management
team and their affiliates, $78,104 and $94,308 of software expense, $229,253 and $330,984 of insurance, $20,221 and $90,683 of investor
relations, and $52,163 and $64,208 of subscription and membership fees for the six months ended June 30, 2025 and 2024, respectively.

Depreciation

We
incurred $12,775 of depreciation expense for the six months ended June 30, 2025, compared to $29,919 of depreciation expense for the
six months ended June 30, 2024, a decrease of $17,144, or 57%.

Other
Income (Expense)

Other
income, on a net basis, consisted of $7,087 of interest incurred on insurance finance charges, as partially offset by $7,718 of interest
income, for the six months ended June 30, 2025. Other expense, on a net basis, consisted of $7,806 of interest incurred on insurance
finance charges, offset by $4,807 of interest income, for the six months ended June 30, 2024. Other expense, on a net basis, decreased
by $3,630, or 121%, primarily due to increased interest income compared to the prior period.

Net
Loss

Our
net loss for the six months ended June 30, 2025 was 535,861, compared to a net loss of $2,837,306 for the six months ended June 30, 2024,
a decrease of $2,301,445.

8

Liquidity
and Capital Resources

We
believe that our existing sources of liquidity, along with cash expected to be generated from sales and services, will not be sufficient
to fund our operations, anticipated capital expenditures, working capital and other financing requirements for at least the next twelve
months from the issuance of the financial statements included elsewhere in this annual report. In the event we are unable to achieve
profitable operations in the near term, we may require additional equity and/or debt financing; however, we