Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 214

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 214
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’ enterprise digital structure needs connecting disparate systems and applying analytics capabilities.

    3.
    Life sciences, payers and all healthcare organizations must protect and secure personal health information (PHI), a regulatory compliance mandate that HTI addresses and manages for its customers.

As an organization with the deep-rooted cloud
expertise, HTI’s technology significantly relies on Big Data, Analytics, DevOps, Security/Compliance, Identity Access Management
(IAM), Machine Learning (ML), Artificial Intelligence (AI), Internet of Things (IoT) and Blockchain.

Devcool Inc

Devcool Inc was incorporated under the laws of
the State of California on September 25, 2016. The Company solves complex technology problems and delivers innovation to healthcare industry.
The Company has successfully implemented projects for top Healthcare insurance companies and hospitals across United States of America.
On December 10, 2021, Healthcare Triangle, Inc (HTI) entered into a Share Purchase Agreement (the “Share Purchase Agreement”)
with Devcool, Go To Assistance Inc., a California corporation (“Seller”), and Mr. Sandeep Deokule, current Chief Executive
Officer of Devcool (“SD”). Pursuant to the Share Purchase Agreement, the Company will acquire 5,000,000 shares of Devcool’s
Class B Common Stock, par value $0.0001, which represents all the issued and outstanding capital stock of Devcool (the “Acquisition”).
The closing of the Acquisition occurred on December 10, 2021 (the “Closing Date”). The Company exercised control by virtue
of taking over the operations from November 01, 2021 (effective date) and the financials have been consolidated from this date.

F-7

2) Summary of Significant Accounting Policies

Policies Basis of consolidated financial statements

The accompanying condensed consolidated financial
statements include the accounts of Healthcare Triangle and its wholly owned subsidiary. The condensed consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America. All intercompany balances
and transactions have been eliminated in consolidation.

The accompanying statements of operations include
expenses for certain functions historically performed by SecureKloud company, including general corporate services, such as legal, accounting,
treasury, information technology, human resources and administration. These expenses are based primarily on direct usage when identifiable,
direct capital expenditure or other relevant allocations during the respective periods. We believe the assumptions underlying the accompanying
condensed consolidated financial statements, including the assumptions regarding these expenses from this related