Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 251

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1A
Chunk 251
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An
investment in our securities involves a high degree of risk. You should carefully consider the risks described below as well as the other
information included in this Annual Report on Form 10-K, including “Information Regarding Forward-Looking Statements,” “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” and the financial statements and the related notes thereto
included elsewhere in this Annual Report on Form 10-K, before making an investment decision. Our business, prospects, financial condition,
or operating results could be harmed by any of these risks, as well as other risks not currently known to us or that we currently consider
immaterial. The trading price of our securities could decline due to any of these risks, and, as a result, you may lose all or part of
your investment.

Risks
Related to Our Financial Position and Need for Additional Capital

Although
we have generated approximately $8.0 million and $5.5 million of revenues for the years ended December 31, 2024 and 2023, respectively,
our future profitability is uncertain.

Our
likelihood of success must be considered in light of the problems, expenses, difficulties, complications, and delays frequently encountered
in connection with the development and expansion of a business enterprise. Our net losses were $3,759,238 and $2,938,343 for the years
ended December 31, 2024 and 2023, respectively, and our accumulated deficit as of December 31, 2024 and December 31, 2023 was $8,824,193
and $5,064,955, respectively. If we are unable to achieve and maintain profitability, we may be unable to continue our operations.

We
will require substantial additional funding and if we are unable to raise capital on favorable terms when needed, we could be forced
to curtail, delay or discontinue our business.

Since
our inception, we have not generated sufficient revenues from our operations to continue to fund the development and expansion of our
business. To date, we have funded a significant portion of our operations through the sale of our equity securities. As of December 31,
2024 and 2023, we had cash of $2,395,405 and $3,280,075, respectively. We expect that our existing cash and cash from revenue will be
sufficient to fund our current operations through at least 12 months from the date of this annual report. However, our operating plan
may change as