HeartSciences (HSCS) Proxy filing summary

Executive summary

• Announced a proposed all-stock merger with Fortitude Mining Holdings, a digital asset mining platform focused on Zcash, with closing expected in Q4 2026, pending shareholder approval.

• Commercial focus remains on the MyoVista Insights platform, with first US commercial agreements signed and selection as the AI-ECG delivery platform for a major European reference center.

• No meaningful revenue reported for fiscal Q1 2027; net loss increased to $3.2 million from $2.1 million year-over-year, driven by higher legal, professional, and non-cash compensation costs.

• Raised approximately $2.2 million post-period end through stock sales and promissory note conversion; shareholders' deficit stood at $2.0 million as of July 31, 2026.

• MyoVista wavECG device remains under FDA review, but further commercialization is deprioritized due to market and regulatory challenges.

Voting matters and shareholder proposals

• Shareholders will vote on the proposed merger with Fortitude at a special meeting; proxy materials have been filed and will be mailed upon SEC clearance.

• Directors, executive officers, and certain affiliates are participants in the proxy solicitation for the merger.

Board of directors and corporate governance

• CEO Andrew Simpson signed the report as President, CEO, and Chairman of the Board.