Company: HCTI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045994
Chunk: 87

Company: Healthcare Triangle, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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 ending December 31, 2024. The maximum amount of advance under the purchase agreement is $10 million and the bank may advance
upto 90% of the unpaid domestic outstanding accounts under the re-course agreement.

The balance as of March 31, 2025, is $775 and
$589 for the period ending December 31, 2024.

10) Other current liability

    Particulars 
    March 31,  2025  
    December 31,  2024 
  
    Other current liability 

    Payroll 
    $304  
    $463 
  
    Audit fees 
     45  
     193 
  
    Insurance 
     137  
     217 
  
    Other 
     329  
     513 
  
    Total 
    $815  
    $1,386 

11) Provision for Income Taxes

The Company accounts for income taxes in accordance
with FASB ASC Topic 740, Income Taxes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying
amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Management evaluates
all available evidence about future taxable income and other possible sources of realization of deferred tax assets. A valuation allowance
is established to reduced tax assets to an amount that represents management’s best estimate of the amount of such deferred tax
assets that more likely than not will be realized. To the extent the Company establishes a valuation allowance or increased the allowance
in any given period, an expense is recognized within the provision for income taxes in the statement of income.

The Company recognizes the tax benefit from uncertain
tax position only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on
the technical merits of the position. The tax benefit is measured based on the largest benefit that has a greater than 50 percent likelihood
of being realized upon ultimate settlement. The Company recognizes interest and penalties related to income tax matters as other expense
in the statement of income. Based on management’s evaluations, there are no uncertain tax positions requiring recognition as of
the date of these financial statements.

21

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

The components of the Company’s net deferred
tax assets as of March 31, 2025, and December 31