Company: HCTI
Filing Date: 2025-02-18
Form Type: 10-K/A
Source: 0001213900-25-014503
Chunk: 93

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-18
Form: 10-K/A
Chunk 93
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 tax basis of the Company’s assets and liabilities and are adjusted for changes in tax rates and tax laws when changes are enacted. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates applicable in the years in which they are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax law is recognized in income in the period that includes the enactment date. Advertising Costs The Company expenses advertising cost as incurred. Advertising expense for the year ended December 31, 2023 and 2022 were $ 526and $ 1,162respectively. Concentrations Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and trade receivables. Credit risks associated with trade receivables is minimal due to the Company’s customer base which consist of large customer base and ongoing procedures, which monitor the credit worthiness of its customers. For the year ended December 31, 2023 and 2022 sales to five major customers accounted for approximately 80% and 73% of total revenue respectively. For the year ended December 31, 2023 and year ended December 31, 2022 accounts receivable from five major customers accounted for approximately 77% and 71% of the total accounts receivables. The Company maintains cash balances in various financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation up to $ 250,000(valid through December 31, 2023) per institution. As of December 31, 2023, and 2022, The Company had $ 667and $ 652, respectively, of uninsured cash balances. the Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash.

4) Property and Equipment

Property and equipment consisted of the following at,

|                                |     |               | December 31, 2023 |   |     |   | December 31, 2022 |   |
|:-------------------------------|:----|:--------------|------------------:|:--|:----|:--|------------------:|:--|
|                                |     | -In thousands |                   |   |     |   |                   |   |
| Furniture and Equipment        |     | $             |               132 |   |     | $ |               119 |   |
| Less