Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 126

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 126
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 shares at the holder’s option (subject to shareholder’s approval), for a total
consideration of at $4.50 per share of Series B Preferred Stock valuing the transferred assets at USD 7.20 million.

This is common control transaction, and the fair
value of the assets acquired were calculated as $7,435. The transaction was treated as an asset acquisition and due to the common control
nature, the company recorded deemed dividend and the acquired assets at $0, which was the carrying value of the common control seller.

SecureKloud Technologies Inc owns 45% of Healthcare Triangle Inc as
of December 31, 2024.

The Company entered into a Master Service Agreement,
Shared Services Agreement and Rental Sublease Agreement with SecureKloud Technologies Inc. As per the Master Services Agreement, SecureKloud
provides technical resources according to the statement of work from the Company. The initial term of the agreement is twenty-four months,
which is extendable based on mutual consent. SecureKloud charges for the services at cost. The Company received services amounting to
$3,139 and $5,445 for the year ended December 31, 2024, and 2023 respectively. The Company has paid for these services during the year.

As per the terms of the Shared Services and Rental
Sublease Agreement, the cost incurred by SecureKloud on behalf of the Company is settled at cost. The Shared Services Agreement includes
Development infrastructure, Sales support, Recruitment and Immigration support, Project coordination, HR and Operation support, Management
/Advisory services. The Company received services amounting to $335 and $377 for the year ended December 31, 2024, and 2023 respectively.
The Company has paid for these services during the year.

The Company does not have any signed lease agreement
on its name and currently operates from two office locations leased by SecureKloud. The Company has entered into a sublease agreement
with SecureKloud and paid rent of $135 and $235 for the year ended December 31, 2024, and 2023 respectively.

The Company has made $181 from sales to
related parties for the year ended December 31, 2024, and $38 for the year ended December 31, 2023.

The Company has acquired intangibles of $0 from
related parties for the year ended December 31, 2024, and $0 for the year ended December 31, 2023