Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 321

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1A
Chunk 321
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 2024 and 2023 as follows:

 Schedule of Recognized Interest Expense

    December 31,  
    December 31, 

    2024  
    2023 

    Interest on line of credit 
    $-  
    $27,054 
  
    Interest on convertible notes payable 
     -  
     17,460 
  
    Interest on notes payable 
     15,600  
     8,966 
  
    Amortization of underwriting fee on line of credit 
     -  
     - 
  
    Interest on credit card debt 
     -  
     206 
  
    Total interest expense 
    $15,600$ 
     53,686 

Note
10 – Commitments and Contingencies

Legal
Contingencies

From
time to time, we may be involved in various disputes and litigation matters that arise in the ordinary course of business. The Company
is currently not a party to any material legal proceedings.

In
January 2024, a former employee filed a wrongful termination lawsuit against the Company in the U.S. District Court, Southern District
of Indiana. This case was settled on January 15, 2025 with no material impact to the
Company.

Note
11 – Changes in Stockholders’ Equity

Class
A Common Stock

The
Company has 100,000,000 authorized shares of $0.001 par value Class A common stock, and 8,979,204 shares were issued and outstanding
as of December 31, 2024.

    F-16

During
the year ended December 31, 2024, two investors exercised 130,789 warrants to purchase Class A Common stock pursuant to which the Company
received cash proceeds of $850,129.

On
September 11, 2024, the Company completed a public offering of an aggregate of (i) 3,203,125 shares of Class A common stock of the Company,
par value $0.001 per share (the “Common Stock”), (ii) eighteen-month warrants (the “Series A Warrants”) to purchase
up to an aggregate of 3,203,125 shares of Common Stock at an exercise price of $0.64 per share, and (iii) five-year warrants (the “Series
B Warrants” and, together with the Series A Warrants, the “Warrants”) to purchase up