Company: HCTI
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001213900-25-109581
Chunk: 17

Company: Healthcare Triangle, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 and Equipment

Furniture and equipment consisted of the following:

    September 30, 2025  
    December 31,  2024 

    Furniture and equipment, at cost 
    $62  
    $69(1)
  
    Less:  Accumulated depreciation 
          (57) 
           (57)(1)
  
    Furniture and equipment, net 
    $5  
    $12 

(1)Prior year figures have been reclassified for the purpose of comparison.

During the period ended September 30, 2025, the
Company purchased furniture and equipment amounting to $6, whereas furniture and equipment costing $13, having a nil book-value were retired.
Depreciation expenses for the quarter ended September 2025 and 2024 were $5 and $7 respectively, and for the nine months ended September
30, 2025 and 2024, were $13 and $406 respectively.

14

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

3.3) Goodwill and Other Intangibles

A)On June 16, 2025 (the “Closing date”), Healthcare Triangle,
Inc. through its wholly owned subsidiary Quantum Nexus Inc. (the “Company”) and Niyama Healthcare, Inc., a Delaware corporation,
a provider of Mental Health and Hospital Information Systems technology, across India, South East Asia, and Europe (the “Seller”)
entered into an Asset and Stock Transfer Agreement (the “Agreement”). Pursuant to the Agreement, the Company agreed to purchase
from the Seller the Transferred Assets (comprising of contracts, intellectual property and related assets), and (ii) the Seller’s
100% shareholder equity interest in Ezovion Solutions Private Limited, Chennai, India - Hospital Information Systems SaaS Provider as
Seller’s Equity (the “Transferred Equity”), as a whole and as a going concern in exchange for the Purchase Price (as
defined below).

The total consideration for the acquisition, which is referred to herein
as the “Purchase Price” is $5,700 which includes: (1) $1,500 in cash, of which $1,200 is due on the Closing Date and $300
to be paid at the later of the satisfaction of certain withholding requirements or within 120 days of the Closing Date; during the period
ended