Healthcare Triangle, Inc. (HCTI): Nasdaq/NYSE listing notice — HCTI gets Nasdaq delisting notice after board resignations; auditor Ram resigns

Healthcare Triangle, Inc.

Nasdaq notified HCTI on Dec 29 that board resignations violate independent director, audit committee, and compensation committee rules.
Company must submit compliance plan by Jan 27, 2023; Nasdaq may grant up to 180 days to regain compliance.
Auditor Ram Associates resigned effective Dec 27, 2022; no disagreements or reportable events in prior audits.
Company has commenced competitive process to engage a new independent registered public accounting firm.
Common stock continues to trade on Nasdaq Capital Market under HCTI; no immediate delisting.

item 3.01 item 4.01 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

Ram Associates, Certified Public Accountants resigned as auditor of Healthcare Triangle, Inc..

Action: resignation
Auditor: Ram Associates, Certified Public Accountants

Exact text from the filing

(a) Resignation of Independent Registered Public Accountants. On December 27, 2022, the Audit Committee of the Board of Directors of Healthcare Triangle, Inc. (the “Company”) received a letter from Ram Associates, Certified Public Accountants (“Ram”), stating that Ram had ceased

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Healthcare Triangle, Inc. received a nasdaq deficiency notice notice regarding audit committee (rules 5605(b)(1), 5605(c)(2), 5605(d)(2)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: audit committee
Rules: 5605(b)(1), 5605(c)(2), 5605(d)(2)

Exact text from the filing

December 29, 2022, the Nasdaq Stock Market LLC (“Nasdaq”) notified (“Notice”) Healthcare Triangle, Inc. (the “Company”) that due to the resignations of Mr. Jeffrey S. Mathiesen, Mr. John Leo and Ms. April Bjornstad from the Company’s board of directors (“board”), audit committee and compensation committee, the Company no longer complies with Nasdaq’s independent director, audit committee and compensation committee requirements as set forth in Listing Rule (i) 5605(b)(1) which requires that a majority of the board of directors be composed of “independent directors” as defined by Rule 5605(a)(2)

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6 auditor changes filed in the last 30 days. Browse all auditor changes →

Healthcare Triangle, Inc. filing history →

Source: SEC EDGAR

accession 0001607062-22-000784

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