Recent Updates — HSCS
The U.S. Food and Drug Administration granted 510(k) clearance (K260005) for HeartSciences' MyoVista wav ECG device, allowing it to function as a 12-lead resting electrocardiograph for adult and pediatric patients. The clearance covers signal acquisition and advisory interpretive statements but excludes the company's AI-ECG algorithm. Management stated there is no timeline for commercializing the hardware without the cleared algorithm, though the approval broadens options for realizing value from the device's intellectual property. Concurrently, the proposed business combination with Fortitude Mining Holdings continues to progress toward a closing expected in Q4 2026, subject to shareholder approval and customary conditions. HeartSciences is a healthcare information technology company advancing electrocardiography through artificial intelligence integration.
HeartSciences Inc. entered into Amendment No. 8 to its Loan Agreement with Front Range Ventures LLC on September 29, 2026, extending the maturity date for its $500,000 secured promissory note to January 29, 2027 or two business days following the closing of a proposed business combination with Fortitude Mining Holdings. The amendment requires immediate payment of accrued unpaid interest as of September 30, 2026, while subsequent interest accrues until maturity. This financing arrangement supports the company's development and commercialization of medical devices for treating heart failure.
HeartSciences Inc., a Texas-based digital asset mining company, filed an 8-K to disclose executive leadership changes at Fortitude Mining Holdings, the entity it is merging with in a proposed business combination announced on June 23, 2026. The Board of Directors of Fortitude appointed Jaime Leverton as Chief Executive Officer and a board member effective September 21, 2026, succeeding Andrea Childs, who transitions to Chief Operating Officer and resigns from the board. Leverton, former CEO of Hut 8, is expected to lead the combined company, which will be renamed Fortitude Mining Group, Inc., following the anticipated fourth-quarter closing of the transaction. This filing updates investors on management structure ahead of shareholder approval for the merger.
HeartSciences Inc. received a notice from Nasdaq on August 4, 2026, stating it is not in compliance with Listing Rule 5550(b)(1) due to failing to maintain the required $2,500,000 minimum stockholders' equity. The company reported stockholders’ equity of only $226,060 as of April 30, 2026. Nasdaq has granted a 45-day period until September 18, 2026, to submit a compliance plan, with potential for an extension until January 31, 2027. The company intends to rely on the consummation of its proposed all-stock merger with Fortitude Mining Holdings, Inc., announced June 23, 2026, as the basis for regaining compliance. Failure to regain compliance could result in delisting, negatively impacting liquidity and financing capabilities. HeartSciences Inc. operates in the medical technology industry, developing minimally invasive treatments for heart failure.
HeartSciences Inc. entered into Amendment No. 1 to the Agreement and Plan of Merger with Fortitude Mining Holdings, Inc. and its subsidiaries to modify the terms of the previously announced merger agreement dated June 23, 2026. The amendment clarifies redemption mechanics in the A&R LLC Agreement and updates the Parent New Charter to adjust requirements for shareholder action by written consent. HeartSciences is a medical technology company focused on cardiac health diagnostics.