Company: HCTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076686
Chunk: 75

Company: Healthcare Triangle, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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The accompanying condensed consolidated financial
statements include the accounts of Healthcare Triangle, Inc., and its wholly owned subsidiaries Devcool, Inc., and QuantumNexis, Inc.,
which also owns 100% of Ezovion Solutions Private Limited and 80% of QuantumNexis SDN. BHD. 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 upon consolidation.

The accompanying statements of operations include
expenses for certain functions historically performed by the Parent 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 expenditures or other relevant allocations during the respective periods. We believe the assumptions underlying the accompanying
condensed consolidated financial statements, are reasonable. Actual results may differ from these expenses, assumptions and estimates.
The amounts recorded in the accompanying condensed consolidated financial statements are not necessarily indicative of the actual amount
of such indirect expenses that would have been recorded had we been a separate independent entity.

Unaudited Interim Financial Information

The accompanying unaudited condensed consolidated
financial statements and the related footnote disclosures have been prepared by us in accordance with GAAP for interim financial reporting
and as required by Rule 10-01 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements may not include
all of the information and notes required by GAAP for audited financial statements. The year-end December 31, 2024 condensed consolidated
balance sheet data included herein was derived from audited financial statements. In the opinion of management, the accompanying unaudited
condensed consolidated financial statements contain all adjustments, consisting of items of a normal and recurring nature, necessary
to present fairly our financial position as of June 30, 2025, the results of operations, comprehensive loss, stockholders’ deficit,
and cash flows for the six months ended June 30, 2025 and 2024. The results of operations for the six months ended June 30, 2025 and
2024 are not necessarily indicative of the results to be expected for the full year. The information contained herein should be read
in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024
filed with the SEC. Management considers events or transactions that occur after the balance sheet date but before the financial statements