Company: HCTI
Filing Date: 2025-02-18
Form Type: 10-K/A
Source: 0001213900-25-014503
Chunk: 97

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-18
Form: 10-K/A
Chunk 97
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 from related parties for the year ended December 31, 2023, and $ 409for the year ended December 31, 2022. The Company acquired intangibles of $0from related parties for the year ended December 31, 2023, and $ 1,094for the year ended December 31, 2022. The Company had entered into a Master Services Agreement with its Ultimate Parent during the current year. As per the Master Services Agreement, the Ultimate Parent provides administrative and technical services. The initial period of the agreement is for a period of three yearswhich is extendable based on mutual consent. The Company received services amounting to $ 650and $ 0for the year ended December 31, 2023, and 2022 respectively. The Company has paid for these services during the year and there is no outstanding balance as at the year end. The balance receivable from related parties as of December 31, 2023, was $ 304and for the year ended December 31, 2022 was $ 1,075. F-27 8) Contingent consideration The Company recognized an initial value of $ 2,227in 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, which was recognized as “Gain on revaluation” in the consolidated income statement. The gain on revaluation was $0in the financial year 2023. The Company has a payout of $ 625for financial year 2022 and $ 0for financial year 2023 arising from the Devcool Inc, acquisition. During the year ended December 31, 2023, the company issued 31,250common stocks valued at $ 125towards settlement of the contingent consideration and the balance $ 500is outstanding as of December 31, 2023.

9) Equity Transactions

The company has made a private placement of
shares of its common stock, a Pre-Funded Warrant to purchase shares of the Company’s common Stock and Preferred Investment Options
to purchase up to an aggregate of shares of common stock pursuant to the terms and conditions of the Securities Purchase Agreement,
dated as of July 10, 2022. The Purchaser paid $ for each Share and $ for each W