HeartSciences (HSCS) Proxy filing summary

Executive summary

• FDA 510(k) clearance covers MyoVista wavECG as a 12-lead resting electrocardiograph for adult and pediatric patients in hospitals and healthcare facilities; clinician interpretations are advisory, and the clearance excludes an AI-ECG algorithm.

• Commercialization is not planned without a cleared AI-ECG algorithm; there is no commitment or timeline, and potential options for the device and related intellectual property will be evaluated.

• The proposed business combination with Fortitude is expected to close in Q4 2026, subject to customary closing conditions, including shareholder approval.

Voting matters and shareholder proposals

• An amended preliminary proxy statement was filed on October 6, 2026; a definitive proxy statement and proxy card are expected to be mailed to eligible shareholders after filing, ahead of the special meeting.

• Shareholder approval is a condition to closing the proposed business combination with Fortitude.

Risk oversight and compliance

• Transaction risks include failure to close on schedule or at all, unmet closing conditions, market or macroeconomic impacts, and challenges integrating the businesses and managing a newly public entity.

• Disclosed risks also include Zcash and cryptocurrency price volatility and legal, commercial, regulatory, and technical uncertainty around digital assets.

• MyoVista risks include healthcare-provider adoption and conversion of agreements into revenue, ability to realize value from the device and related intellectual property, and recovery of related inventory.