Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 267

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1A
Chunk 267
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 inability to attract, retain and motivate additional
highly skilled employees required for expansion of our business, could have a material adverse impact on our business, results of operations
or financial condition.

Our
ability to utilize loss carry forwards may be limited.

We
have incurred net operating losses (“NOLs”) during our history. To the extent that we continue to generate taxable losses,
unused losses will carry forward to offset future taxable income, if any, until such unused losses expire (if at all).

Federal
NOLs incurred in tax years beginning after December 31, 2017 and before January 1, 2021 may be carried back to each of the five tax years
preceding such loss, and NOLs arising in tax years beginning after December 31, 2020 may not be carried back. Moreover, federal NOLs
generated in taxable years ending after December 31, 2017, may be carried forward indefinitely, but the deductibility of such federal
NOLs may be limited to 80% of our taxable income annually for tax years beginning after December 31, 2020. Our NOL carryforwards are
subject to review and possible adjustment by the Internal Revenue Service (the “IRS”), and state tax authorities. In addition,
in general, under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended (“Code”), a corporation that undergoes
an “ownership change” is subject to limitations on its ability to utilize its pre-change NOLs or tax credits to offset future
taxable income or taxes. For these purposes, an ownership change generally occurs where the aggregate stock ownership of one or more
stockholders or groups of stockholders who own at least 5% of a corporation’s stock increases their ownership by more than 50 percentage
points over their lowest ownership percentage within a specified testing period. Our existing NOLs or credits may be subject to limitations
arising from previous ownership changes and ownership changes, which may further limit our ability to utilize NOLs or credits under Sections
382 and 383 of the Code. In addition, future changes in our stock ownership, many of which are outside of our control, could result in
an ownership change under Sections 382 and 383 of the Code. Our NOLs or credits may also be impaired under state law. Accordingly, we
may not be able to utilize a material portion of our NOLs or credits. If we were to determine that