Company: SYRA
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023235
Chunk: 26

Company: Syra Health Corp
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 1
Chunk 26
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 digital health and health education revenues into our population health division.

On
October 18, 2024, we received a Notice from Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price for its Class
A common stock, for the last 30 consecutive business days for the last thirty consecutive business days, had closed below the minimum
$1.00 per share and, as a result, the Company was not in compliance with the $1.00 minimum bid price requirement (the “Minimum
Bid Price Requirement”) for the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2).

On
April 11, 2025, we voluntarily delisted our Class A common stock from the Nasdaq Capital Market.

On
June 13, 2025, the Board of Directors of Syra Health Corp. (the “Company”) approved the termination for cause of the employment
agreement between Deepika Vuppalanchi, the Company’s CEO, and the Company dated April 5, 2021, as amended.

On
June 16, 2025, the Board of Directors of the Company appointed Priya Prasad, the Company’s CFO and COO, as interim CEO.

On
July 1, 2025, the Company entered into a consulting agreement with a former member of the Board of Directors for services related to
developing a new strategic plan for the Company and identifying and hiring a new CEO.

On July 28,
2025, Deepika Vuppalanchi resigned from the Board of Directors of the Company for personal reasons.

Results
of Operations for the Three Months Ended June 30, 2025 and 2024

The
following table summarizes selected items from the statements of operations for the three months ended June 30, 2025 and 2024.

    For
    the Three Months  

    Ended  

    June
    30,  
    June
    30,  
    Increase
    / 

    2025  
    2024  
    (Decrease) 

    Net
    revenues 

    Healthcare
    workforce 
    $362,447  
    $1,416,234  
    $(1,053,787)
  
    Population
    health 
     1,583,752  
     533,025  
     1,050,727