HeartCore enters $25M equity line with Crom, issues $2M Series A preferred, stockholder approves reverse split

HeartCore Enterprises, Inc.

• Equity Purchase Agreement with Crom for up to $25M in common stock (ELOC); $250K commitment fee in shares.
• Issued 2,000 Series A Convertible Preferred shares at $1,000 each ($2M aggregate), plus 750,000 SPA commitment shares.
• Series A preferred pays 10% annual dividend; converts at 90% of avg two lowest VWAPs over five days.
• Stockholder written consent (60% voting power) approved reverse stock split (1:2 to 1:30) and share issuance above 20%.
• Registration statements for resale of ELOC and conversion shares to be filed within 30 days, effective within 90 days.