Company: SYRA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009279
Chunk: 76

Company: Syra Health Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 76
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 adoption of certain accounting
standards until those standards would otherwise apply to private companies.

We have chosen to take advantage
of the extended transition periods available to emerging growth companies under the JOBS Act for complying with new or revised accounting
standards until those standards would otherwise apply to private companies provided under the JOBS Act. As a result, our financial statements
may not be comparable to those of companies that comply with public company effective dates for complying with new or revised accounting
standards.

Subject to certain conditions
set forth in the JOBS Act, as an “emerging growth company,” we intend to rely on certain of these exemptions, including, without
limitation, (i) providing an auditor’s attestation report on our internal controls over financial reporting pursuant to Section
404(b) of the Sarbanes-Oxley Act of 2002, as amended, and (ii) complying with the requirement adopted by the Public Company Accounting
Oversight Board regarding the communication of critical audit matters in the auditor’s report on financial statements. We will remain
an “emerging growth company” until the earliest of (i) the last day of the fiscal year in which we have total annual gross
revenues of $1.235 billion or more; (ii) the last day of our fiscal year following the fifth anniversary of the date of the completion
of our IPO; (iii) the date on which we have issued more than $1 billion in nonconvertible debt during the previous three years; or (iv)
the date on which we are deemed to be a large accelerated filer under the rules of the SEC.

8

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES
ABOUT MARKET RISK.

The Company is not required to provide the information
required by this Item as it is a “smaller reporting company,” as defined in Rule 12b-2 of the Exchange Act.

ITEM 4. CONTROLS AND PROCEDURES.

Our principal executive officer and principal financial
officer evaluated the effectiveness of our “disclosure controls and procedures” as of March 31, 2025 the end of the period
covered by this Quarterly Report on Form 10-Q. The term “disclosure controls and procedures” as defined in Rules 13a-15(e)
and 15d-15(e) under the Exchange Act, means controls and other procedures of a company that are designed to ensure that information required
to be disclosed by a company in