Company: HCTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076686
Chunk: 16

Company: Healthcare Triangle, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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June 30, 2025) per institution.

As of June 30, 2025, and December 31, 2024, the
Company had $0.844 million and $0 million respectively, of uninsured cash balances. The Company has not experienced any losses in such
accounts and believes it is not exposed to any significant credit risk on cash.

13

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

3) Furniture and Equipment

Furniture and equipment consisted of the following:

Schedule of furniture and equipment

    June 30, 2025  
    December 31,  2024 

    Furniture and equipment 
    $33  
    $132 
  
    Less:  Accumulated depreciation 
     (30) 
     (120)
  
    Furniture and equipment, net 
    $3  
    $12 

Depreciation expenses for the quarter ended June
2025 and 2024 were $0.2 and $9, respectively and for the six months ended June 30, 2025 and 2024, were $12 and $20 respectively.

4) Goodwill and Other Intangibles

On June 16, 2025, Healthcare Triangle, Inc. through
its wholly owned subsidiary Quantum Nexus Inc. (the “Company”) and Niyama Healthcare, Inc., a Delaware corporation, a provider
of Mental Health and Hospital Information Systems technology, across India, South East Asia, and Europe (the “Seller”) entered
into an Asset Transfer Agreement (the “Agreement”). Pursuant to the Agreement, the Company agreed to purchase from the Seller
the Transferred Assets (comprising of contracts, intellectual property and related assets), and (ii) the Seller’s 100% shareholder
equity interest in Ezovion Solutions Private Limited, Chennai, India - Hospital Information Systems SaaS Provider as Seller’s Equity
(the “Transferred Equity”), as a whole and as a going concern in exchange for the Purchase Price (as defined below). The acquisition
had closing date of June 16, 2025.

The total consideration for the acquisition, which
is referred to herein as the “Purchase Price” is $5,700 which includes: (1) $1,500 in cash, of which $1,200 is due on the
Closing Date and $300 to be paid