Company: HCTI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001213900-25-045994
Chunk: 78

Company: Healthcare Triangle, Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 8
Chunk 78
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 advertising cost as incurred.
Marketing and advertising expenses for the quarters ended March 31, 2025, and March 31, 2024, were $58 and $268 respectively. 

Concentrations

Financial instruments that potentially subject
the Company to concentrations of credit risk consist principally of cash and trade receivables. Credit risks associated with trade receivables
is minimal due to the Company’s customer base which consist of large customer base and ongoing procedures, which monitor the credit
worthiness of its customers. For the quarter ended March 31, 2025 and 2024 revenue from the top five customers accounted for approximately
57% and 70% of total revenue respectively. For the quarter ended March 31, 2025, and year ended December 31, 2024, accounts receivable
from five major customers accounted for approximately 59% and 63% of the total accounts receivables.

The Company maintains cash balances in various
financial institutions. The balances are generally insured by the Federal Deposit Insurance Corporation up to $250,000 (valid through
March 31, 2025) per institution.

As of March 31, 2025, and December 31, 2024, the
Company had $2.9 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.

15

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

3) Property and Equipment

Property and equipment consisted of the following:

Schedule of property and equipment

    March 31, 2025  
    December 31,  2024 

    (In thousands) 
  
    Furniture and equipment 
    $132  
    $132 
  
    Less:  Accumulated depreciation 
     (132) 
     (120)
  
    Net fixed assets 
    $0  
    $12 

Depreciation expenses for the quarter ended March
31, 2025 and 2024 were $12 and $11, respectively.

16

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

4) Leases 

The Company determines if an arrangement contains
a lease at inception.