HeartSciences (HSCS) investor relations material

Company overview and business model

• Operates as a healthcare IT company focused on AI-driven electrocardiography (ECG) solutions, primarily through its MyoVista Insights™ cloud-native ECG management platform.

• MyoVista Insights™ is vendor- and device-agnostic, designed to modernize ECG workflows and enable scalable AI-ECG deployment across healthcare systems.

• Revenue streams include installation fees, SaaS usage fees, and fees from an AI-ECG algorithm marketplace, including third-party algorithms.

• Shifted strategic focus away from proprietary ECG device commercialization to prioritize the software platform, following market and regulatory developments.

• Entered into a merger agreement with Fortitude Mining Holdings, Inc., with closing expected in Q4 2026.

Financial performance and metrics

• As of April 30, 2026, recurring losses, negative cash flows from operations, and limited capital resources raise substantial doubt about the company's ability to continue as a going concern.

• A reserve of approximately $0.3 million was recorded against remaining device inventory in Q2 2026.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for working capital, capital expenditures, R&D, regulatory affairs, clinical trials, acquisitions, debt repayment, and expenses related to the proposed merger.

• Management retains broad discretion over allocation and timing of expenditures.