Company: HCTI
Filing Date: 2025-02-18
Form Type: 10-K/A
Source: 0001213900-25-014503
Chunk: 104

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-18
Form: 10-K/A
Chunk 104
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 Original Issue Discount. The Company repaid $ 1.50million in principal and $ 525as interest that was allocated across 28 weekly payments. The outstanding balance as of December 31, 2023 is $ 0

E(iv) Go To Assistance Inc

The Company issued a Secured Promissory Note on December 10, 2021, to Go To Assistance, Inc evidencing its commitment to pay a sum of $ 2,208,841as consideration for the acquisition of Devcool, Inc. The Company repaid the note by settling $ 500,000and transfer of debt of value $ 1,708,841to Seacoast Business Finance. The note balance as of the year ended December 31, 2022 was $ 0.

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 reduce deferred 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. F-32

The components of the Company’s net deferred tax assets as of
December 31, 2023 and 2022, were as follows (in thousands):

|                                                |     |               | December 31, 
         2023 |   |     |   | December 31, 
         2022 |   |
|:-----------------------------------------------|:----|:--------------|-------------:|:--|:----|:--