Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 65

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 65
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 was $2,679. As of September 30, 2025, the Board determined that achievement of the milestones was not probable, and accordingly,
no stock-based compensation expense has been recognized related to this award.

On
August 13, 2025, the Company appointed a new director to the Board of Directors of the Company. In
connection with the appointment, the director will receive $20,000
in annual cash compensation and receive an equity award representing 0.25% of the Company’s fully diluted Class A Common Stock
as of December 31, 2025, with 50% of such award in the form of restricted stock units and 50% in common stock options. The
Company determined a grant date had not been reached until the terms of the award are finalized at December 31, 2025.

The
following is a summary of activity of outstanding stock options:

 Schedule of Share-Based Compensation, Stock Options Activity

    Weighted
    Average 

    Number of Shares  
    Exercise Prices 
  
    Balance, December 31, 2024 
     223,599  
    $1.32 
  
    Options granted 
     82,646  
     0.55 
  
    Options forfeited 
     (10,000) 
     1.28 
  
    Balance, September 30, 2025 
     296,245  
    $1.13 
  
    Exercisable, September 30, 2025 
     -  
    $- 

The
options had a weighted average remaining life of 8.64 years and no intrinsic value as of September 30, 2025.

Note
13 – Subsequent Events 

The
Company evaluates events that have occurred after the balance sheet date through the date these financial statements were issued.

F-16

ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

You
should read the following discussion and analysis of our financial condition and results of operations together with our unaudited interim
condensed financial statements and the related notes appearing elsewhere in this Quarterly Report on Form 10-Q. In addition to historical
information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our
actual results may differ materially from those discussed below. Factors that could cause or contribute to such differences include,
but are not limited to, those identified below