HeartCore acquires 51% of Sigmaways; issues shares, cash, and warrant to founder

HeartCore Enterprises, Inc.

Acquired 51% of Sigmaways for 2,000,000 shares of common stock, $1,000,000 cash, and a warrant to purchase 737,500 shares (corrected from 1,900,000).
Appointed Prakash Sadasivam as Chief Strategy Officer and to the Board, with annual salary of $96,000 and annual equity grants.
Warrant subsequently exchanged for 500,000 shares of common stock on March 22, 2023.
Company deposited $2,000,000 into dedicated account to expand Sigmaways' business.

item 9.01 item 2.01 item 1.01 item 5.02 item 3.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Prakash Sadasivam

Director

HTCR · HeartCore Enterprises, Inc.

Effective: 2023-02-01
Filed: April 14, 2023, 7:59 PM ET

the Board expanded the size of the Board from seven persons to eight persons, and named Mr. Sadasivam to serve as a member of the Board

Appointed

Prakash Sadasivam

Chief Strategy Officer

HTCR · HeartCore Enterprises, Inc.

Effective: 2023-02-01
Filed: April 14, 2023, 7:59 PM ET

On February 1, 2023, Mr. Sadasivam was appointed to serve as the Company’s Chief Strategy Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Prakash Sadasivam was appointed as Director at HeartCore Enterprises, Inc..

Action: appointed
Role: Director

Exact text from the filing

the Board expanded the size of the Board from seven persons to eight persons, and named Mr. Sadasivam to serve as a member of the Board

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Prakash Sadasivam was appointed as Chief Strategy Officer at HeartCore Enterprises, Inc..

Action: appointed
Role: Chief Strategy Officer

Exact text from the filing

On February 1, 2023, Mr. Sadasivam was appointed to serve as the Company’s Chief Strategy Officer.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HeartCore Enterprises, Inc. amended Amendment No. 2 with Sigmaways, Inc. and Prakash Sadasivam valued at $1,000,000 (effective 2023-02-01).

Action: amendment
Counterparty: Sigmaways, Inc. and Prakash Sadasivam
Value: $1,000,000
Effective: 2023-02-01

Exact text from the filing

On February 1, 2023, the Company, Sigmaways and Mr. Sadasivam entered into Amendment No. 2 (“Amendment No. 2”) to the Sigmaways Agreement.

View on SEC.gov

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HeartCore Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-012287

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