HeartSciences Inc.
2.9700-0.19 (-6.01%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · HSCS · USD
Key Stats
Market Cap
9.12MP/E (TTM)
-Basic EPS (TTM)
-8.28Dividend Yield
0%Recent Filings
8-K
Loan extended, $6.7M raised
HeartSciences extended its $500,000 secured loan from Front Range Ventures to September 30, 2026, at 12% interest, with accrued interest due on September 30, 2025, and optional early repayments starting at $50,000. Meanwhile, the Reg A offering raised $6.7 million by October 1, 2025, issuing 1,912,383 units, while a debt exchange swapped $2.105 million in notes for 597,578 common shares. Shares outstanding hit 3,069,635. This bolsters liquidity yet ties up assets as collateral.
8-K
Regains Nasdaq compliance
HeartSciences Inc. regained compliance with Nasdaq's Minimum Stockholders' Equity Requirement on September 16, 2025, after addressing a prior deficiency under Listing Rule 5550(b)(1) that demanded at least $2.5 million in equity. The company had submitted a plan and secured an extension following the March 21, 2025 notice. Nasdaq closed the matter. This stabilizes listing status amid ongoing operations.
10-Q
Q1 FY2026 results
HeartSciences notched its first revenue of $1,900 in Q1 FY2026 ended July 31, 2025, a modest uptick from zero last year, though the $1.9M operating loss narrowed 10% y/y to $1.9M on 19% lower R&D spend after wrapping cloud platform phase one. Gross margin hit 60%, but net loss held steady at $2.1M, widened by $161K in interest from the Streeterville note—now down to $1.0M principal after $1.0M debt-for-equity swaps—versus operating loss, mainly due to OID amortization. Cash swelled to $2.8M, fueled by $4.6M from Series D units, while free cash flow isn't disclosed in the 10-Q. Stockholders' equity flipped positive to $3.1M. Yet Nasdaq compliance hangs by a thread.
8-K
Launches AI-ECG platform
HeartSciences launched MyoVista Insights, a cloud-native platform modernizing ECG management and enabling AI-ECG algorithms on existing devices without capital outlay. The FDA granted Breakthrough Device Designation for its aortic stenosis algorithm, while the company eyes 510(k) submissions for wavECG device and ejection fraction software in 2026. No revenue yet, but cash stands at $2.8 million. Regulatory wins accelerate heart disease detection.
8-K
Capital raise via conversions
HeartSciences bolstered its balance sheet on September 5, 2025, by converting 1,054,549 shares of Series D Preferred Stock from its ongoing Regulation A offering into common stock, following $5.4 million in gross proceeds from 1,556,409 units sold since March. The company also exchanged $1,805,000 of unsecured debt for 506,348 common shares, slashing liabilities. Total common shares now stand at 2,654,540. This capital infusion aids operations amid fundraising efforts.
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