Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 406

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 406
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 Statements of Changes in Stockholders’ Equity (Deficit) For The Years Ended December 31, 2024 and 2023 F-5  Consolidated Statements of Cash Flows For The Years Ended December 31, 2024 and 2023 F-6  Notes to Consolidated Financial Statements F-7 

F-1

Report of Independent Registered Public Accounting
Firm

To the Board of Directors and

Stockholders of Healthcare
Triangle, Inc.

Opinion on the Financial Statements

We have audited the accompanying
consolidated balance sheets of Healthcare Triangle, Inc. (the Company) as of December 31, 2024 and 2023, and the related consolidated
statements of operations, stockholders’ equity (deficit), and cash flows for each of the years in the two-year period ended December
31, 2024, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present
fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations
and its cash flows for each of the years in the two-year period ended December 31, 2024, in conformity with accounting principles generally
accepted in the United States of America.

Going Concern

The accompanying financial statements
have been prepared assuming the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company
has yet to achieve profitable operations, has negative cash flows from operating activities, and is dependent upon future issuances of
equity or other financings to fund ongoing operations all of which raises substantial doubt about its ability to continue as a going concern.
Management’s plans regarding these matters are also described in Note 2. The financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements
based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance
with the standards of the PCAOB. Those standards require that