Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 3 – Related Party Transactions
Director Fees
As of March 31, 2026, and December 31, 2025, the Company owed a total of $98,500 and $72,000 in fees payable to directors, respectively. This amount is presented within accounts payable, related parties.
Office Lease
The Company leases its current corporate headquarters under a two-month lease from STVentures, LLC (“ STVentures”), an entity beneficially owned by the principal owners and the management team of Syra and their affiliates. The lease commenced on July 1, 2021, and as amended on May 1, 2022, provided for a base monthly rent of $10,711. The lease was further amended on June 26, 2024, and provides for a base monthly rent of $11,209. The lease was also amended on March 3, 2025, and in July 2025 and provides for a base monthly rent of $11,209 through June 30, 2027. The lease was further amended on July 1, 2025, and provides for a base monthly rent of $5,580 from September 1, 2025, through May 31, 2026. The lease was further amended on April 1, 2026, and provides for a base monthly rent of $7,335 from April 1, 2026, through May 31, 2027. A total of $16,740 and $33,626 is included in selling, general and administrative expenses for the three months ended March 31, 2026, and 2025, respectively. An unpaid balance of $0 was outstanding at March 31, 2026, and December 31, 2025.
Information Technology (“IT”) Services
The Company incurred a total of $15,400 and $137,411 of services from RAD CUBE LLC, which is an entity beneficially owned by the principal owners and the management team of Syra and their affiliates, for outsourced IT services which have been presented within selling, general and administrative expenses in the statements of operations during the three months ended March 31, 2026 and 2025, respectively. An unpaid balance of $4,800 was outstanding at March 31, 2026, and December 31, 2025, respectively, as presented within accounts payable.
Recruitment and Human Resource Services
For the three months ended March 31, 2026, the Company paid a total of $50,388 and $36,614 for services from NLogix IT Services Private Limited and SKL Demand Private Limited, respectively, which are entities beneficially owned by the principal owners and the management team of Syra and their affiliates. Of these costs $32,282 are included in professional services, and $54,720 in selling, general and administrative expenses, in the statement of operations during the three months ended March 31, 2026.
For the three months ended March 31, 2025, the Company paid a total of $64,226 and $41,911 for services from NLogix IT Services Private Limited and SKL Demand Private Limited, respectively, which are entities beneficially owned by the principal owners and the management team of Syra and their affiliates. Of these costs $46,014 are included in professional services, $17,460 in selling, general and administrative expenses, and $28,622 in research and development expenses in the statement of operations during the three months ended March 31, 2025.
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