Company: HCTI
Filing Date: 2025-02-18
Form Type: 10-K/A
Source: 0001213900-25-014503
Chunk: 2

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-18
Form: 10-K/A
Chunk 2
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18, 2024 (the “2023 Original Filing”). Restatement of the Financial Statement for Fiscal Year Ended December 31, 2023 This Form 10-K restates the 2023 Original Filing and related disclosures, The Company engaged M&K CPAS PLLC (“New Auditing Firm” or “New Auditors”) on May 08, 2024, to replace the previous auditing firm, BF Borgers CPA PC (“Borgers”), and to reaudit the financial statements for the years ended December 31, 2022 and December 31, 2023. During the 2024 audit that was in progress, on May 3, 2024, the SEC entered, and the Company became aware of, an order instituting settled administrative and cease-and-desist proceedings against Borgers, which order includes denying Borgers the privilege of appearing or practicing before the SEC as an accountant. During the 2023 reaudit, procedures were applied that led the Company and the new auditors to believe sufficient audit procedures were not performed by Borgers when auditing the 2022 and 2023 financial statements. The Audit Committee of the Board of Directors of the Company was made aware of prior period errors by M&K and the adjustments suggested by M&K were agreed to by the management of the Company have been disclosed under “Restatement of Previously Issued Financials”. ii NOTE ABOUT FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K, including the sections titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors,” contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, involving substantial risks and uncertainties. The words “believe,” “may,” “will,” “potentially,” “plan,” “could,” “should,” “predict,” “ongoing,” “estimate,” “continue,” “anticipate,” “intend,” “project,” “expect,” “seek,” or the negative of these words, or terms or similar expressions conveying uncertainty of future events or outcomes, or that concern our expectations, strategy, plans or intentions, are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, or expected. When considering forward-looking statements, you should keep in mind the risk factors and