Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 1349

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1349
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 fact that some agreements require management’s evaluation and allocation of the standalone
transaction prices to the performance obligation.

To evaluate the appropriateness and accuracy of the assessment
by management, we evaluated management’s assessment in relationship to the relevant agreements.

The procedures performed included
evaluation of the methods and assumptions used by the Company, tests of the data used and an evaluation of the findings. We evaluated
and tested the Company’s significant judgments that determine the impairment evaluation of intangible assets.

/s/ M&K CPAS, PLLC

We have served as the Company’s auditor since 2024.

The Woodlands, TX

March 31, 2025

F-2

HEALTHCARE TRIANGLE INC

Consolidated Balance Sheets

    December 31, 

    2024  
    2023 

    (In thousands) 
  
    Assets 

    Current assets 

    Cash and cash equivalents 
    $20  
    $1,234 
  
    Accounts receivable 
     1,110  
     3,595 
  
    Other current assets 
     322  
     824 
  
    Total current assets 
     1,452  
     5,653 
  
    Property and equipment, net 
     12  
     44 
  
    Intangible assets, net 
     -  
     857 
  
    Due from affiliates 
     497  
     304 
  
    Total assets 
    $1,961  
    $6,858 

    Liabilities and stockholders’ equity (deficit) 

    Current liabilities 

    Accounts payable 
    $2,539  
    $1,953 
  
    Short term borrowing 
     2,650  
     3,788 
  
    Contingent consideration 
     500  
     500 
  
    Other current liabilities 
     1,386  
     1,911 
  
    Total current liabilities 
     7,075  
     8,152 
  
    Long-term liabilities 

    Convertible notes 
     -  
     97 
  
    Total current and long-term liabilities 
     7,075  
     8,249 

    Stockholders’ equity (deficit) 

    Preferred stock, par value $0.00001; 10,000,000 authorized 

    Iss