DivestmentJun 25, 2026, 08:32 AM
HeartCore Divests Sigmaways for Up to $650K; Reduces Losses
AI Summary
HeartCore Enterprises, Inc. divested its 51% majority ownership in Sigmaways, Inc. and $2.19 million in related debt to Semaphore Technologies, Inc. for up to $650,000. The deal includes a $1,000 cash payment and an earn-out of up to $649,000 based on Sigmaways' future revenue. HeartCore also contributed a $350,000 SAFE Note from Heart-Tech Health as part of the agreement. This strategic divestiture aims to optimize HeartCore's portfolio, reduce exposure to a loss-making subsidiary, and focus on core growth initiatives like Go IPO consulting and financial services.
Key Highlights
- Divested 51% majority ownership in Sigmaways, Inc.
- Sold $2.19 million in Sigmaways debt obligations.
- Total purchase price up to $650,000.
- Includes $1,000 cash payment at closing.
- Earn-out up to $649,000 based on Sigmaways' revenue exceeding $5.5 million.
- Contributed $350,000 Heart-Tech Health SAFE Note.
- Sigmaways had a $3.6 million shareholders' deficit as of March 31, 2026.
- Aims to reduce exposure to non-core, loss-making operations.
Price Impact
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