Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 998

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 998
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 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.

The Company had entered into a Master Services
Agreement with SecureKloud. As per the Master Services Agreement, SecureKloud provides administrative and technical services. The initial
period of the agreement is for a period of three years which is extendable based on mutual consent. The Company received services amounting
to $0 and $650 for the year ended December 31, 2024, and 2023 respectively. The Company has paid for these services during the year and
there is no outstanding balance as at the year end.

The receivable from related parties as of December
31, 2024, was $138 and for the year ended December 31, 2023, was $14.

The balance due from affiliates as of December
31, 2024, was $497 and for the year ended December 31, 2023, was $304.

7) Contingent consideration

The Company recognized an
initial value of $2,227 in financial year 2021 as contingent consideration towards acquisition of Devcool Inc.

As on December 31, 2022, based
on the actual revenue and profitability achievement, the fair value of the contingent consideration liability was remeasured at $625,
resulting in a gain of $1,602,