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CardioComm Solutions, Inc. reports developments as a healthcare technology company focused on medical electrocardiogram software, consumer heart monitoring, remote patient monitoring and cardiac data-management platforms. Its updates commonly cover GEMS FLEX, 14-day Holter and Event long-term continuous monitoring ECG software, HeartCheck CardiBeat monitoring, SMART Monitoring ECG services and integrations that connect ECG data with wearable or remote-care workflows.
Company news also includes financing and capital-structure actions, such as loan facilities, debt settlements, related-party transactions, stock options and insider debt ownership, along with TSX Venture Exchange approvals and reporting framework changes. CardioComm’s releases describe medical-device clearances and sales licenses in the United States and Canada, ISO 13485 and ISO 27001 certifications, and HIPAA-compliant software operations.
CardioComm Solutions (TSXV: EKG) has been awarded up to $150,000 in funding from the Canadian Space Agency (CSA) to design a prototype for the next generation Connected Care Medical Module (C2M2). The company's GEMS™ C2M2 will be an AI-supported system designed for medical care in isolated environments, both in space and on Earth.
Key components of GEMS™ C2M2 include:
- AI-supported computer system for integrating medical technologies
- Plug-and-play architecture for flexible configurations
- Autonomous healthcare management capabilities
- Detection, diagnosis, treatment, and monitoring functionalities
The prototype design is due on October 28, 2024. If selected, CardioComm could receive up to $650,000 for further development of the C2M2 solution.
CardioComm Solutions, Inc. (TSXV: EKG) has received Health Canada clearance for its GEMS™ Rhythm ECG artificial intelligence (AI) software for automated detection of multiple arrhythmias and morphology abnormalities. The software will detect conditions such as atrial fibrillation, prolonged QT intervals, tachycardia, bradycardia, and more. This clearance is a critical milestone in developing GEMS™ into an all-in-one, device-agnostic ECG software solution.
GEMS™ Rhythm will be initially offered with GEMS™ FLEX ECG software for analyzing ECG data from event recorders worn up to 30 days. Future releases will include integration with GEMS™ Holter and GEMS™ LTCM solutions for continuous monitoring over 24 hours to 14 days. The NRC Industrial Research Assistance Program provided partial funding support of up to $150,000 for this project.
CardioComm Solutions, Inc. (TSXV: EKG) has secured exclusive distribution rights in Quebec for TZ Medical Inc.'s ECG monitoring devices. This agreement enhances access to long-term continuous ECG monitoring devices for Canadians. The deal focuses on the Trident Pro and Trident Nano devices, which are integrated with CardioComm's Global Electrocardiogram Management software (GEMS™).
CardioComm plans to integrate these devices with new software releases, GEMS™ Holter and GEMS Long Term Continuous Monitoring, scheduled for 2025. This integration aims to meet the growing demand for combined 14 to 30-day Holter and Event monitoring. The exclusive rights in Quebec will facilitate hardware tendering processes with provincial hospitals using or considering GEMS™.
CardioComm Solutions (TSXV: EKG), a global provider of consumer heart monitoring and medical ECG software solutions, has entered into a revolving line-of-credit loan agreement with a company controlled by director Daniel Grima. The loan provides additional funding of up to $500,000, with an 8% annual interest rate and a repayment deadline of July 22, 2026. The loan is secured against the company's assets and can be repaid without penalty. The lender has the option to convert the loan into common shares at the TSX Venture Exchange's "discounted market price."
Additionally, CardioComm has issued 125,000 stock options to CEO Etienne Grima, exercisable at $0.05 per share for five years, vesting immediately. Both transactions are subject to regulatory approvals and securities laws.
Daniel Grima has acquired a total of 29,526,146 common shares of CardioComm Solutions (EKGGF) through debt settlement agreements.
Grima personally received 27,442,571 shares at $0.01 per share for settling $274,425.71 owed by the company. Additionally, his holding company, Xemxija Holdings, acquired 2,083,575 shares at $0.01 per share for settling $20,835.75 of debt.
Before the transaction, Grima held 6,910,555 shares (4.57% of the company). Post-transaction, he holds 36,436,702 shares, representing 18.87% of the total.
Grima's acquisition is for investment purposes, and he may adjust his holdings based on circumstances. The detailed disclosure can be reviewed on SEDAR+.
CardioComm Solutions, a provider of ECG software solutions, has completed its debt settlement transactions with certain creditors. To settle a total debt of $419,093.68, the company issued 41,909,368 common shares at $0.01 per share. These shares are subject to a four-month hold period, expiring on November 10, 2024. The transactions include related party dealings, as company directors participated in the settlements. However, these transactions are exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101, as they do not exceed 25% of the company's market capitalization.
CardioComm Solutions has announced an update regarding its debt settlement transactions with certain creditors. The company plans to issue 41,909,368 common shares at $0.01 per share to settle an aggregate debt of $419,093.68. This includes $318,786.12 owed to non-arm's length parties, settled through the issuance of 31,878,612 shares. The debt includes $44,360.41 in company expenses covered by non-arm's length parties. The issued shares will be subject to a four-month hold period and require approval from the TSX Venture Exchange. Transactions with company directors are classified as 'related party transactions' but are exempt from certain requirements under Multilateral Instrument 61-101.
CardioComm Solutions announced plans to settle $418,340.10 in outstanding debt by issuing 41,834,010 common shares at a deemed price of $0.01 per share. This transaction will retire $345,261.46 in structured debt and $73,078.64 in operational debt. The issuance of shares is pending TSX Venture Exchange approval and will be subject to a four-month hold period. Additionally, some transactions involve directors and are considered 'related party transactions' under Multilateral Instrument 61-101, but they are exempt from formal valuation and minority shareholder approval due to their fair market value being below 25% of the company's market capitalization.
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