Company: SYRA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009279
Chunk: 28

Company: Syra Health Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 28
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) at March 31, 2025 and December 31, 2024.

    March 31,  
    December 31, 

    2025  
    2024 
  
    Current Assets 
    $3,722,550  
    $3,679,332 

    Current Liabilities 
    $1,265,914  
    $613,549 

    Accumulated Deficit 
    $(9,296,458) 
    $(8,824,193)

    Working Capital 
    $2,381,315  
    $2,739,246 

Liquidity is the ability of a company to generate
funds to support its current and future operations, satisfy its obligations, and otherwise operate on an ongoing basis. To date, we have
funded our operations through equity and debt financings. Our primary uses of cash have been for the development of operations, compensation,
and professional fees. All funds received have been expended in the furtherance of growing our business and establishing our services
and solutions. The following trends are reasonably likely to result in a material decrease in our liquidity over the near to long term:

    ●
    A substantial increase in working capital requirements to finance our operations;

    ●
    Addition of administrative and professional personnel as our business continues to grow;

    ●
    The cost of being a public company; and

    ●
    Payments for seeking and securing quality staffing personnel.

Cash Flow Activities for the Three Months Ended
March 31, 2025 and 2024

Net Cash Used in Operating
Activities 

Cash provided by operating
activities for the three months ended March 31, 2025 was $158,231 and cash used in operating activities for the three months ended March
31, 2024 was $800,745. The improvement in operating cash activities is a result of our efforts to reduce expenses and better working capital
management.

Net Cash Used in Investing
Activities

Cash used in investing activities
for the three months ended March 31, 2025 and 2024 was $0 and $5,619, respectively, which related entirely to the purchase of property
and equipment during both periods.

6

Net Cash Provided by Financing
Activities

Cash used in financing activities for the three months
ended March 31, 2025 was $63,051, which consisted of $14,800 of proceeds received from the exercise of Class A common stock