Healthcare Triangle, Inc. (HCTI): auditor change — Healthcare Triangle (HCTI) restates 2023 financials; intangible write-offs and accounting errors disclosed

Healthcare Triangle, Inc.

Intangible assets lacking support written off up to $2.185M; goodwill and intangible of $1.289M and $4.3M moved to FY2022.
Warrant liability adjustment increased APIC by $954K; debt discount of $435K recorded in FY2023.
Accounts receivable and short-term borrowings misstated by $359K in FY2023 and $273K in FY2022 due to cut-off error.
Accrued costs reversed by $231K in FY2022 and $124K in FY2023; contingent consideration revaluation gain of $1.6017M recorded in FY2022.
Deferred tax expense and liability of $442.6K recognized in FY2022.

item 4.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Healthcare Triangle, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: M&K CPAS, PLLC

Exact text from the filing

On February 12, 2025, the Board of Directors of Healthcare Triangle, Inc. (the “Company”), upon the recommendation of the Audit Committee (the “Audit Committee”) of the Company resolved that the Company’s previously issued financial statements (the “Prior Financial Statements”) contained within its Annual Report on Form 10-K for the year ended December 31, 2023, originally filed on March 18, 2024, should no longer be relied upon due to errors in the Prior Financial Statements (the “Restatement”).

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Source: SEC EDGAR

accession 0001213900-25-014489

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