Note 1

BUSINESS ORGANIZATION AND NATURE OF OPERATIONS

Forian Inc. (the “Company”, “Forian”, “we”), was incorporated in Delaware on October 15, 2020. Forian was formed for the purpose of effecting a Merger (as defined below).

At December 31, 2020, Forian had not yet commenced operations.

On March 2, 2021 (the “Effective Time”), pursuant to the Agreement and Plan of Merger, dated as of October 16, 2020, as amended by Amendment to Agreement and Plan of Merger, dated as of December 30, 2020, as further amended by Amendment No. 2 to Agreement and Plan of Merger, dated February 9, 2021 (together, the “Merger Agreement”), by and among Helix Technologies, Inc. (“Helix”), Forian and DNA Merger Sub, Inc. (“Merger Sub”), Merger Sub merged with and into Helix, with Helix being the surviving corporation as a wholly-owned subsidiary of the Company. Each share of Helix common stock was exchanged for 0.05 shares of Company Common Stock.

Immediately prior to the Effective Time, pursuant to the Equity Interest Contribution Agreement, dated March 2, 2021 (the “Contribution Agreement”), by and among the Company, Medical Outcomes Research Analytics, LLC (“MOR”) and each equity holder of MOR, such equity holders contributed their interests in MOR to the Company in exchange for shares of Forian Common Stock (the “Contribution”). Upon the closing of the Contribution MOR became a wholly-owned subsidiary of the Company. Each unit of MOR was exchanged for 1.7776 shares of Company Common Stock, subject to adjustments pursuant to the Contribution Agreement. See Note 11.

Pursuant to the Merger Agreement, while Forian is the legal acquirer, the Company accounted for the Merger as a reverse acquisition using the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) Topic 805, “Business Combinations” (“ASC 805”). As such, MOR is deemed to be the accounting acquirer for financial reporting purposes.

All activity of the Company through December 31, 2020 relates to MOR. MOR was established on May 6, 2019 in Delaware. MOR Analytics, LLC and COR Analytics, LLC are wholly owned subsidiaries of MOR. MOR is a technology and analytics company building a data management platform and has assembled a repository of Health Insurance Portability and Accountability Act of 1996, as amended (“HIPAA”), compliant, encrypted, de-identified patient-level health data in the United States. MOR provides information products, business intelligence software and outcomes studies to its customers to help them improve the performance of their businesses.