Here are the 10-K annual reports from Heartcore Enterprises, Inc. (HTCR) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow HTCR and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full HTCR filings page.
HeartCore Enterprises, Inc. has transformed from a Japan-based software developer into a niche consulting firm focused on helping Japanese companies list shares on U.S. exchanges through its GO IPO business. As of December 31, 2025, it had 16 consulting agreements, each with cash fees between $380,000 and $900,000 plus warrants for 1% to 4% of clients’ fully diluted equity at low exercise prices.
To support this pivot, HeartCore sold its Japanese software subsidiary, HeartCore Co., Ltd., to Smith Japan Holdings KK on October 31, 2025 for ¥1,800,418,650 (about $12 million), with portions structured as holdbacks and deferred consideration through 2028. The company then authorized a one-time cash distribution of $0.13 per share, paid November 17, 2025, and later a $2.0 million share repurchase program, though no shares have yet been bought back.
HeartCore faces listing pressure: Nasdaq notified the company in May 2025 that its share price was below the $1.00 Minimum Bid Price Requirement, granting an extension to May 1, 2026 to regain compliance or risk delisting. As of June 30, 2025, non-affiliate equity was valued at $7,593,567 based on a $0.4899 share price, and 25,435,724 shares were outstanding as of March 31, 2026. The company ended 2025 with 44 employees and detailed office leases in Japan and Vietnam as it builds out its financial services–oriented structure.