Company: HCTI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026218
Chunk: 1005

Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 1005
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, and $97 as of December 31, 2023.

Aggregate maturities of convertible notes
payable are as follows:

For the twelve months ended, December 31,

    2024 
    $2,061 
  
    2025 
    $- 
  
    Total 
    $2,061 

    Convertible Note 
    2024  
    2023 
  
    Convertible notes payable 1 
    $2,375  
    $2,000 
  
    Less: discount 
     314  
     791 
  
    Notes payable, net of discount 1-2 
     2,061  
     1,209 
  
    Notes payable, current portion, net of discount 
     2,061  
     1,112 
  
    Notes payable, long-term portion, net of discount 
    $-  
    $97 

F-22

B. Common Stock Warrants

On December 28, 2023, the Company issued Senior
Secured 15% Original Issue Discount Convertible Promissory Note for an initial amount of $2,000,000 of convertible notes with an annual
interest rate of 18% and a maturity term of 18 months. In connection with this issuance, the Company also issued 357,500 warrants, each
allowing the holder to purchase shares of the Company’s common stock at an exercise price of $3.44688, exercisable until December
28, 2028.

The Company recorded $435,000 as debt discount
and an allocation of $355,943 towards warrant was recorded as additional paid-in capital using the relative fair value method for the
period ending December 31, 2023.

As of December 31, 2024, there is a debt discount
balance relating to convertible debt in the amount of $313,841. This balance will be amortized over the life of the note.

On December 28, 2023, the Company issued a convertible
note to the investor in the principal amount of $2.0 million which resulted in gross proceeds to the Company of $1.7 million (the “First
Tranche Note”) and Warrants to purchase up to an aggregate of 357,500 Warrant Shares (the “First Tranche Warrants”).
The First Tranche Note, and the First Tranche Warrants have an initial fixed conversion and exercise