Syra Health Corp
NASDAQ:SYRA
NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

  • LAST PRICE
    0.4102
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    0.3981/ 1
  • Ask / Lots
    0.4199/ 5
  • Open / Previous Close
    --- / 0.4102
  • Day Range
    ---
  • 52 Week Range
    0.3435
    8.3700
  • Volume
    6,140

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  • Oct 29, 2024

      Show headlines and story abstract

    • 7:57AM ET on Tuesday Oct 29, 2024 by MT Newswires
      Companies Mentioned: SYRA
      07:57 AM EDT, 10/29/2024 (MT Newswires) -- ...

    • 7:56AM ET on Tuesday Oct 29, 2024 by MT Newswires
      Companies Mentioned: SYRA
      07:56 AM EDT, 10/29/2024 (MT Newswires) -- ...

    • 7:55AM ET on Tuesday Oct 29, 2024 by PR Newswire
      Companies Mentioned: SYRA

      Achieved Net Revenue of $2.3 million, ~42% Growth Over the Prior Year Quarter

      Gross Margins Increased Following Shift in Operational Strategy

      Net Loss Narrowed to $417,535 ($0.06 per share), a Significant Improvement from the $1.39 million ($0.21 per share) Net Loss in Q2 of 2024

    • 7:55AM ET on Tuesday Oct 29, 2024 by Dow Jones
      Companies Mentioned: SYRA
      Cash $ 2,697,459 $ 3,280,075 Accounts receivable, net 884,445 1,060,634 Accounts receivable related party - 50,614 Other current assets 482,990 389,787 ----------- ----------- Total current assets 4,064,894 4,781,110 Property and equipment, net 34,625 78,974 Right-of-use asset 325,491 63,199 ----------- ----------- Total assets $ 4,425,010 $ 4,923,283 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current liabilities: Accounts payable $ 212,931 $ 462,991 Accrued expenses 309,606 198,978 Deferred revenue 6,108 - Current portion of operating lease liability, related party 108,939 63,199 Notes payable 240,221 184,904 ----------- ----------- Total current liabilities 877,805 910,072 Non-current portion of operating lease liability, related party 216,552 - ----------- ----------- Total liabilities 1,094,357 910,072 ----------- ----------- Commitments and contingencies Stockholders' equity (deficit): Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares designated, issued and outstanding - - Class A common stock, $0.001 par value, 100,000,000 shares authorized, 8,973,774 and 5,588,298 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 8,974 5,588 Convertible class B common stock, $0.001 par value, 5,000,000 shares authorized, 833,334 shares issued and outstanding 833 833 Additional paid-in capital 11,640,642 9,071,745 Accumulated deficit (8,319,796) (5,064,955) ----------- ----------- Total stockholders' equity (deficit) 3,330,653 4,013,211 ----------- ----------- Total liabilities and stockholders' equity (deficit) $ 4,425,010 $ 4,923,283 =========== =========== SYRA HEALTH CORP. CONDENSED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended For the Nine Months Ended ---------------------- -------------------------- 2024 2023 2024 2023 ---------- ---------- ------------ ------------ Net revenues $2,253,336 $1,581,344 $ 5,975,357 $ 3,748,943 Cost of services 1,585,038 1,026,803 4,777,765 2,919,087 --------- --------- ----------- ----------- Gross profit 668,298 554,541 1,197,592 829,856 --------- --------- ----------- ----------- Operating expenses: Salaries and benefits 594,738 592,241 2,178,105 1,612,605 Professional services 153,803 58,875 489,839 424,379 Research and development expenses 34,821 - 590,263 - Selling, general and administrative expenses 288,305 234,084 1,147,142 657,904 Depreciation 25,541 12,357 55,460 36,413 --------- --------- ----------- ----------- Total operating expenses 1,097,208 897,557 4,460,809 2,731,301 --------- --------- ----------- ----------- Operating loss (428,910) (343,016) (3,263,217) (1,901,445) --------- --------- ----------- ----------- Other income (expense): Interest income 13,641 2,820 18,448 2,826 Interest expense (2,266) (14,180) (10,072) (44,449) --------- --------- ----------- ----------- Total other income (expense) 11,375 (11,360) 8,376 (41,623) --------- --------- ----------- ----------- Net loss $(417,535) $(354,376) $(3,254,841) $(1,943,068) ========= ========= =========== =========== Weighted average common shares outstanding - basic and diluted 7,264,768 4,360,426 6,789,209 4,380,267 ========= ========= =========== =========== Net loss per common share - basic and diluted $ (0.06) $ (0.08) $ (0.48) $ (0.44) ========= ========= =========== =========== SYRA HEALTH CORP. CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) 2024 2023 ------------ ------------ CASH FLOWS FROM OPERATING ACTIVITIES Net loss $(3,254,841) $(1,943,068) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation 55,460 36,413 Bad debt expense - 9,922 Common stock issued for services 74,647 - Non-cash lease expense 63,199 90,162 Stock-based compensation, stock options 28,486 3,669 Changes in operating assets and liabilities: Accounts receivable 176,189 136,324 Accounts receivable, related party 50,614 - Other current assets 285,456 58,979 Accounts payable (250,060) 500,391 Accounts payable, related parties - 18,221 Deferred revenue 6,108 141,644 Accrued expenses 110,628 35,479 Operating lease liability (63,199) (90,162) ----------- ----------- Net cash used in operating activities (2,717,313) (1,002,026) ----------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment (11,111) (15,251) ----------- ----------- Net cash used in investing activities (11,111) (15,251) ----------- ----------- CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from sale of common stock and exercise of warrants 2,469,150 - Payment of deferred offering costs - (589,059) Proceeds received from line of credit - 300,000 Repayments on line of credit - (750,397) Proceeds received from advances, related party - 1,295,010 Repayments on advances, related party - (678,611) Repayments on notes payable (323,342) - Proceeds received from convertible notes payable - 1,455,000 ----------- ----------- Net cash provided by financing activities 2,145,808 1,031,943 ----------- ----------- NET CHANGE IN CASH AND CASH EQUIVALENTS (582,616) 14,666 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,280,075 3,344 ----------- ----------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 2,697,459 $ 18,010 =========== =========== SUPPLEMENTAL INFORMATION: Interest paid $ 10,072 $ 28,533 =========== =========== Income taxes paid $ - $ - =========== =========== NON-CASH INVESTING AND FINANCING ACTIVITIES: Initial recognition of right-of-use asset and lease liability $ 325,491 $ - =========== =========== Prepaid asset financed with note payable $ 378,659 $ - =========== ===========

    • 7:55AM ET on Tuesday Oct 29, 2024 by Dow Jones
      Companies Mentioned: SYRA

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