HeartSciences Inc. announced that the FDA granted 510(k) clearance for its MyoVista wavECG device as a 12-lead resting electrocardiograph. The clearance covers acquisition and interpretation of ECG signals from adult and pediatric patients in hospitals and healthcare facilities, with interpretive statements provided to clinicians on an advisory basis; it does not include an AI-ECG algorithm. HeartSciences says it does not intend to commercialize the device without a cleared AI-ECG algorithm and has no commercialization timeline. Its commercial focus remains MyoVista Insights, and it intends to evaluate options for the device and related intellectual property. The device and AI-ECG submissions were separated following updated American Society of Echocardiography guidance on assessing left ventricular diastolic dysfunction.
HeartSciences expects its proposed business combination with Fortitude Mining Holdings, Inc. to close in Q4 calendar 2026, subject to customary closing conditions, including approval by HeartSciences shareholders.
HeartSciences Inc. and Front Range Ventures LLC amended the loan agreement and secured note, extending the maturity date to the earlier of two business days after closing of the proposed business combination with Fortitude Mining Holdings, Inc., or January 29, 2027. The original loan was for $500,000, and the note accrued interest at 12% per annum, compounded annually.
Accrued unpaid interest as of September 30, 2026 is payable on or before that date; interest accruing thereafter is due at maturity. HeartSciences may repay all or part of the outstanding principal before maturity in amounts of at least $50,000. Each repayment is applied first to accrued interest and then to principal.
HeartSciences Inc. is registering a shelf of up to $200,000,000 in an aggregate combination of common stock, preferred stock, debt securities, warrants, rights and units, for offerings from time to time. Specific pricing and terms will be provided in prospectus supplements, and sales cannot occur until the registration statement is effective. If sales generate net proceeds, the company intends to use them for working capital, capital expenditures and general corporate purposes, including research and development, regulatory work and merger-related expenses.
The prior registration and its Maxim at-the-market offering may continue until the new registration statement becomes effective or March 27, 2027, whichever occurs first. While the market value of non-affiliate common equity is below $75 million, Form S-3 primary sales are limited to one-third of that equity’s market value in any 12-month period.
HeartSciences says it needs additional funding and is directing resources principally to MyoVista Insights. Its MyoVista wavECG 510(k) submission remains under FDA review; the company recorded an approximately $0.3 million reserve against device inventory for the quarter ended July 31, 2026. The proposed Fortitude merger is expected to close in the fourth quarter of 2026.
HeartSciences Inc. (HSCS) reports leadership changes at Fortitude Mining Holdings, its proposed merger partner, and highlights Fortitude’s current operating scale. Fortitude’s board appointed Jaime Leverton as Chief Executive Officer and director effective September 21, 2026, while Andrea Childs transitions from CEO and director to Chief Operating Officer. The companies state that, following the closing of the previously announced business combination, HeartSciences is expected to be renamed Fortitude Mining Group, Inc., with Leverton serving as CEO and a board member. Fortitude’s press release notes that in the six months ended June 30, 2026 it mined a substantial share of Zcash network production and generated meaningful revenue, and that the proposed transaction is expected to close in the fourth quarter of 2026, subject to customary conditions including HeartSciences shareholder approval.
HeartSciences Inc. (HSCS) reported fiscal first quarter 2027 results and gave an update on its pending all-stock merger with Fortitude Mining Holdings. The Fortitude transaction, announced in June 2026, is described as continuing to progress, with closing expected in Q4 2026, subject to customary conditions including HeartSciences shareholder approval.
For the quarter ended July 31, 2026, HeartSciences reported no meaningful revenue, a loss from operations of $2.9 million versus $1.9 million a year earlier, and a net loss of $3.2 million versus $2.1 million. The operating loss included about $0.5 million in additional legal and professional fees related to the Proposed Transaction, $0.5 million of non-cash share-based compensation triggered by the passing of Mark Hilz, and a $0.3 million inventory reserve for the MyoVista wavECG device. As of July 31, 2026, shareholders’ deficit was $2.0 million.
The company is concentrating its commercial efforts on the MyoVista Insights cloud-based ECG management and AI orchestration platform, has signed its first U.S. commercial agreements, and was selected as the AI-ECG delivery platform for a major European reference center. HeartSciences does not currently plan to commit significant additional resources to commercializing the MyoVista wavECG device and has reserved against related inventory. Liquidity actions after quarter end included approximately $1.0 million of common stock purchased by Fortitude, about $1.2 million of net proceeds from at-the-market sales, and the exchange of $200,000 of note principal into equity; the Fortitude merger exchange ratio was not adjusted for these issuances.
HeartSciences Inc. (HSCS) reported another loss-making quarter and a strained balance sheet while pursuing a transformative merger with Fortitude Mining HoldCo. For the quarter ended July 31, 2026, revenue was only $2,100 and the company recorded a net loss of $3.17 million, wider than the prior-year loss of $2.05 million. Cash and cash equivalents fell to just $29,906, and stockholders’ equity shifted to a deficit of $2.03 million, prompting Nasdaq to notify HSCS that it no longer meets the $2.5 million equity listing requirement. Management discloses “substantial doubt” about the company’s ability to continue as a going concern and is relying on additional capital raises, including an at-the-market program and a $1.0 million private placement to Fortitude’s parent, and on closing the proposed Merger, under which Fortitude holders are expected to own about 95% of the combined company.
HeartSciences Inc. (HSCS) reported, via a Regulation FD disclosure, second‑quarter 2026 financial and operating highlights from proposed merger partner Fortitude Mining Holdings. Fortitude generated $20.9 million in revenue and $8.5 million in Adjusted EBITDA for the quarter, mining about 33,646 ZEC at an average hash rate of 4.0 GSol/s with more than 60 MW of controlled power capacity across seven sites.
Fortitude and HeartSciences have a definitive merger agreement, with the business combination expected to close in H2 2026, subject to HeartSciences shareholder approval and other conditions. On August 12, 2026, Fortitude invested about $1,000,000 in HeartSciences through a private placement of 411,522 HSCS shares at $2.43 per share, a 22% premium to the then‑closing price, and now holds approximately 9.4% of HeartSciences’ outstanding common stock. The investment is described as supporting HeartSciences’ operating expenses ahead of the contemplated merger.
The disclosure emphasizes that communications regarding the proposed transaction are solicitation material, urges shareholders to read the proxy materials on file with the SEC, and includes extensive forward‑looking‑statement and digital‑asset risk language, noting that the transaction may not close and that Fortitude’s business is exposed to Zcash and broader cryptocurrency volatility.
HeartSciences Inc. (HSCS) reported that Fortitude Mining Holdings, Inc. invested approximately $1.0 million through a private placement completed on August 12, 2026. Fortitude purchased 411,522 shares of HeartSciences common stock at $2.43 per share, a 22% premium to the closing market price on the purchase date.
The new shares are ordinary voting common stock with no special rights, and the investment lifts Fortitude’s stake to about 9.4% of HeartSciences’ outstanding shares. The company states that the cash investment provides additional working capital and strengthens its balance sheet ahead of the expected closing of the proposed business combination between HeartSciences and Fortitude, which is anticipated in the second half of the current calendar year, subject to customary conditions, including shareholder approval. The exchange ratio under the existing merger agreement is unchanged, and no extra merger consideration will be issued to Fortitude in respect of this investment.
HeartSciences Inc. (HSCS) received a new strategic investment and is party to a pending control transaction with Fortitude Mining Holdings, Inc., a wholly owned subsidiary of Digital Currency Group, Inc. (DCG). Fortitude acquired 411,522 common shares, representing 9.4% of HeartSciences’ outstanding common stock as of August 12, 2026, for an aggregate $999,998.46 in cash to support ongoing operating expenses.
The investment is tied to a Merger Agreement under which HeartSciences, Fortitude and Fortitude Mining HoldCo, LLC will form an "Up-C" structure, with HeartSciences to be renamed Fortitude Mining Group, Inc. and its existing common stock redesignated as Class A Common Stock. Fortitude is expected to hold approximately 95% of the combined voting power through Surviving Company Non-Voting Units and Class V Common Stock, making the combined company a "controlled company" under Nasdaq rules and allowing Fortitude designees to control the board and key corporate decisions. If the Merger Agreement is terminated and the transactions are not completed, HeartSciences must file a resale registration statement for the 411,522 shares within 30 days.