secwatch.observer — SEC 8-K summary
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Issuer:     HeartSciences Inc. (HSCS)
CIK:        0001468492
Form:       8-K
Filed at:   2023-12-14T23:59:59+00:00
Accession:  0000950170-23-070387
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HeartSciences Q2 cash $100K, equity deficit; raises $9.3M post-quarter, Mount Sinai deal expands AI-ECG platform
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- Q2 FY2024: no significant revenue; cash ~$100K; shareholders' equity deficit ~$1.6M as of Oct 31, 2023.
- After quarter close: raised $9.3M net from stock sales, converted $1.1M debt to equity, closed license agreements with Mount Sinai (became material shareholder).
- FDA confirmed 510(k) pathway for MyoVista wav ECG device; target clearance in CY2024, expected to save millions and years for future algorithms.
- Expanded IP to 42 patents; new distributor agreements in India and Nordic countries; selected by CardiACT for Irish police officer screening.
- CEO states shareholders' equity now >$5M; may seek second 180-day Nasdaq bid price grace period if needed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1468492/000095017023070387/0000950170-23-070387-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1468492/000095017023070387/hscs-20231214.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-070387

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer