Company: HCTI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076686
Chunk: 18

Company: Healthcare Triangle, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 also considered its recent debt issuances as
well as publicly available data for instruments with similar characteristics when calculating the incremental borrowing rates.

Leases with a term of 12 months or less are not
recorded on the balance sheet, per the election of the practical expedient noted above, which the Company has adopted. The Company recognizes
lease expense for these leases on a straight-line basis over the lease term. The Company recognizes variable lease payments in the period
in which the obligation for those payments is incurred. Variable lease payments that depend on an index or a rate are initially measured
using the index or rate at the commencement date, otherwise variable lease payments are recognized in the period incurred.

6) Other current assets:

    Particulars 
    June 30,  2025  
    December 31,  2024 
  
    Other current assets 

    Unbilled revenue 
    $295  
    $- 
  
    Prepaid expenses 
     160  
     262 
  
    Others 
     -  
     60 
  
    Total 
    $455  
    $322 

15

HEALTHCARE TRIANGLE, INC.

Notes To Condensed Consolidated Financial Statements

(Unaudited)

(In thousands except share and per share data)

7) Due from Affiliates

The balance outstanding from the affiliates as
of June 30, 2025 is $3,320 as compared to $497 as of December 31, 2024, as outlined below;

-SecureKloud Technologies Limited (public company in India) balance outstanding as of June 30, 2025 is
$792 as compared to nil as of December 31, 2024,

-SecureKloud Technologies, Inc., balance outstanding as of June 30, 2025 is $2,413 as compared to $497
as of December 31, 2024, and

-Blockedge Technologies, Inc., balance outstanding as of June 30, 2025 is $115 as compared to nil as of
December 31, 2024

On January 1, 2025, the Company entered into a
Master Service Agreement with Securekloud Technologies Inc. (“SKI”) and Securekloud Technologies Limited (“SKL). The initial
term of the agreement is twenty-four months, which is extendable based on mutual consent. As per the Master Services Agreement, SKI and
SKL provide technical resources according to