DelistingAug 7, 2026, 05:07 PM
HeartSciences receives Nasdaq delisting notice for equity non-compliance
AI Summary
HeartSciences Inc. received a notice from Nasdaq on August 4, 2026, indicating non-compliance with the minimum stockholders' equity requirement of $2,500,000. The company reported stockholders' equity of $226,060 as of April 30, 2026. HeartSciences has until September 18, 2026, to submit a plan to regain compliance, with a potential extension until January 31, 2027. The company plans to leverage its proposed merger with Fortitude Mining Holdings to address the deficiency, though there is no assurance of regaining compliance or the plan's acceptance.
Key Highlights
- HeartSciences received a Nasdaq delisting notice on August 4, 2026.
- Company is not in compliance with Nasdaq Listing Rule 5550(b)(1) requiring $2,500,000 in stockholders' equity.
- Reported stockholders' equity of $226,060 as of April 30, 2026.
- Company has 45 calendar days, until September 18, 2026, to submit a compliance plan.
- If accepted, an extension of up to 180 days (until January 31, 2027) may be granted.
- Company intends to use its proposed merger with Fortitude Mining Holdings to regain compliance.
- Merger agreement with Fortitude Mining Holdings was announced on June 23, 2026.
Price Impact
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