HeartSciences Inc. (HSCS) Form 10-Q — Sep 14, 2026
HeartSciences filed its 10-Q for the quarter ended July 31, 2026 reporting a net loss of $3.2 million (up 54% year over year) on revenue of just $2,100, with only $29,906 in cash remaining at quarter end. Management stated existing resources are insufficient to fund operations for the next twelve months, raising substantial doubt about the company's ability to continue as a going concern. The filing details a pending merger with Fortitude Mining Holdings under the June 23, 2026 Merger Agreement.
Key figures
- Revenue
- 2100
- Total Debt
- 3722953
- Revenue Yoy
- flat (0%)
- Cash Position
- 29906
- Interest Rate
- 12.0% per annum on FRV Note and $3.6M Streeterville Note
- Shares Outstanding
- 4800172
- Rd expense
- 906629
- Atm capacity
- 25000000
- Sgna expense
- 2033801
- Accumulated deficit
- 88441854
- Sgna yoy change pct
- 132
- Stockholders deficit
- $2.0 million
- Net loss yoy change pct
- 54
- Working capital deficit
- $4.8 million
- Private placement shares
- 411522
- Atm subsequent shares sold
- 397762
- Inventory reserve recorded
- $0.3 million
- Atm subsequent net proceeds
- 1200000
- Seller ownership post placement
- 9.4%
- Private placement gross proceeds
- 1000000
- Private placement price per share
- 2.43
- Post merger fortitude ownership pct
- 95
- Fortitude cash or zcash contribution
- 2000000
- Nasdaq min stockholders equity required
- 2500000
- Post merger legacy holder ownership pct
- 5
- Stockholders equity reported for listing test
- 226060
AI analysis
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