Company: HCTI
Filing Date: 2025-02-18
Form Type: 10-K/A
Source: 0001213900-25-014503
Chunk: 103

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-18
Form: 10-K/A
Chunk 103
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 cost of $ 0for the year ended December 31, 2023, and $ 0for the year ended December 31, 2022.

F-31

D. Payroll protection program loan

The company received payroll protection program loan (PPP) 2 ndtranche on February 9, 2021. The Company has obtained approval for waivers from the lender and recognized an amount of $ 1,081for the year ended December 31, 2022, and $ 0as other income for the year ended December 31, 2023.

E. Short term borrowing

| Particulars               
 Short Term Borrowing      |     | 2023 |       |     | 2022 |       |
|:--------------------------|:----|:-----|------:|:----|:-----|------:|
| Seacoast Business Funding |     | $    | 2,676 |     | $    | 2,685 |
| Agile One Lending         |     |      |     - |     |      |     - |
| Go To Assistance Inc      |     |      |     - |     |      |     - |
| L1 Capital                |     |      | 1,112 |     |      |     - |
| Total                     |     | $    | 3,788 |     | $    | 2,685 |

E(i) Seacoast Business Funding

The Company has obtained a credit facility from Seacoast business funding (SBF) a division of Seacoast National Bank during the year ended December 31, 2022. The funding is against the accounts receivables of the company and its subsidiary. The SBF facility charges an interest of prime rate plus 1% on a floating basis. The balance as of December 31,2023, is $ 2,676and $ 2,685for the period ended December 31, 2022.

E(ii) L1 Capital

The Company obtained $ 2million funding in the form of Senior Secured 15% Original Issue Discount Convertible Promissory Notes in December 2023. An amount of $ 1.1million is repayable within a period of 12months.

E(iii) Agile One Lending

The Company obtained a short-term non-convertible loan on May 05, 2023 from Agile one lending for $ 1.5million net of $ 75of