Company: HCTI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045994
Chunk: 88

Company: Healthcare Triangle, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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, 2024, were as follows (in thousands):

    March 31,  2025  
    December 31,  2024 

    (In thousands) 
  
    Deferred tax assets: 

    Net Operating loss carry-forward 
    $476  
    $1,439 
  
    Add back: 

    Stock-based compensation 
     (10) 
     (30)
  
    Depreciation and amortization 
     3  
     (249)
  
    Impairment expense 
     -  
     — 
  
    Bad debt 
     -  
     (48)
  
    Fair value of warrant 
     -  
     (43)
  
    Gain on revaluation 
        
     — 
  
    Other income 
     31  
     - 
  
    Total deferred tax asset 
     500  
     1,069 
  
    Less: valuation allowance 
    $(500) 
    $(1,069)
  
    Deferred tax asset. net of valuation allowance 
     —  
     — 
  
    Deferred tax liabilities 
     —  
     — 
  
    Net deferred tax asset 
     —  
     — 

The Company’s current tax expense is nil.

The Company’s federal and state income tax
returns are generally subject to possible examination by the taxing authorities until the expiration of the related statute of limitations
on those tax returns which is generally three years from the original filing deadline. The Company regularly reviews its deferred tax
assets for recoverability based on historical taxable income, projected future taxable income, the expected timing of the reversals of
existing taxable temporary differences and tax planning strategies. The Company’s judgment regarding future profitability may change
due to many factors, including future market conditions and the ability to successfully execute the business plans and/or tax planning
strategies. Should there be a change in the ability to recover deferred tax assets, the Company’s income tax provision would increase
or decrease in the period in which the assessment is changed.

12) New Accounting Pronouncements

In March 2024, the FASB issued ASU No. 2024-01,
“Compensation—Stock Compensation (Topic 718): Scope Applications of Profits Interests and Similar Awards” (“ASU
2024-01”). ASU 2024-01 adds an example to Topic 718 which