Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 916

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 916
---
   
    Net 

    Useful life  
    Carrying  
    Accumulated  
    Carrying  
    Carrying  
    Accumulated  
    Carrying 

    (Years)  
    Amount  
    Amortization  
    Amount  
    Amount  
    Amortization  
    Amount 

    (In thousands)  
    (In thousands) 
  
    Customer relationships 
         -  
    $8,667  
    $8,667  
          -  
    $8,667  
    $8,667  
    $- 
  
    Intellectual property 
     -  
     5,144  
     5,144  
     -  
     5,144  
     4,431  
     713 
  
    Product development 
     -  
     477  
     477  
     -  
     477  
     333  
     144 
  
    Total Intangible Assets 
     -  
    $14,288  
    $14,288  
    $-  
    $14,288  
    $13,431  
    $857 

Amortization expense for the year ended December
31, 2024, and 2023 were $857 and $1,518, respectively. This relates amortization of internally developed software, intellectual property,
and customer relationships. The net carrying amount of intangible as of December 31, 2024, and December 31, 2023 were $0 and $857 respectively.

  Nature of Intangibles   Useful Life  Customer relationships   5 years  Intellectual property   5 years  Product development   5 years 

F-17

5) Leases

The Company determines if an arrangement contains
a lease at inception. Right of use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease
liabilities represent the obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the lease
commencement date based on the estimated present value of lease payments over the lease term.

The Company is currently operating from two office
locations leased by SecureKloud. The Company does not have any signed lease agreement in its name. The Company’s principal facility
is located in Pleasant