Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 56

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 56
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    Interest on lease liability 
     1,017  
     305 
  
    Total operating lease cost 
    $33,627  
    $32,131 

Supplemental
balance sheet information related to leases was as follows:

 Schedule of Supplemental Balance Sheet Information

    June 30,  
    December 31, 

    2025  
    2024 
  
    Operating lease: 

    Operating lease assets 
    $22,161  
    $299,190 

    Current portion of operating lease liability, related party 
    $22,161  
     111,978 
  
    Noncurrent operating lease liability, related party 
     -  
     187,212 
  
    Total operating lease liability 
    $22,161  
    $299,190 

    Weighted average remaining lease term: 

    Operating leases 
     0.50 years  
     2.50 years 

    Weighted average discount rate: 

    Operating lease 
     9.25% 
     9.25%

    F-13

Note
9 – Notes Payable

Insurance
Notes Payable

In
2024, the Company entered into two insurance policy financing arrangements to purchase various insurance policies. The total principal
of these arrangements was $378,659 with interest rates of 10.350% and 10.50% and monthly payments of $11,783 and $19,171 due through
July 2025. The Company made principal repayments of $133,882 and incurred interest expense of $4,380 during the six months ended June
30, 2025. The Company made principal repayments of $225,773 and incurred interest expense of $9,436 during the year ended December 31,
2024. As of June 30, 2025 and December 31, 2024, the remaining balance was $19,005 and $152,887, respectively.

In 2025, the Company entered into an
insurance policy financing arrangement to purchase an insurance policy. The total principal of this arrangement was $123,866 with interest
rates of 10.30% and monthly payments of $9,985 due through February 2026. The Company made principal repayments of $56,153 and incurred
interest expense of $1,557 during the six months ended June 30, 2025.