HeartSciences Inc. — Form 8-K Summary
Event date: September 29, 2026. The filing reports amendments to the company’s loan arrangements with Front Range Ventures LLC (FRV). It is a financing update, not a report of operating results.
Financial terms and liquidity
- The loan originated in 2020 with $500,000 of borrowing, secured by a note bearing interest at 12% per year, compounded annually.
- The filing does not state the current outstanding principal or total accrued interest.
- The amended maturity date is the earlier of two business days after closing of the proposed business combination with Fortitude Mining Holdings, Inc., announced June 23, 2026, or January 29, 2027.
- Accrued unpaid interest through September 30, 2026, is payable on or before that date. Interest accruing thereafter is payable at maturity.
- The company may prepay all or part of the principal before maturity, in amounts of at least $50,000. Payments apply first to accrued interest, then to principal.
Changes and outlook
Amendment No. 8 and a fourth amended and restated secured promissory note extend the loan’s maturity and set the interest-payment schedule. The filing gives no revenue, profit, cash-flow, margin, or broader liquidity metrics, and provides no financial guidance.
The maturity date depends in part on the timing of the proposed business combination; if it has not closed by the stated outside date, the loan matures on January 29, 2027. The filing does not describe other contingencies or provide management commentary on the company’s ability to meet the payments.
Important facts for investors to verify
- The current principal balance, accrued interest, and whether the interest payment due by September 30, 2026, was made.
- The status and expected closing timing of the proposed business combination, and its effect on the loan’s maturity.
- The complete terms in the filed amendment and amended note, including any collateral and default provisions.