HTCR News & Events

HeartCore Enterprises announced that its Board of Directors has authorized a share repurchase program pursuant to which the Company may repurchase up to $2.0 million of its outstanding shares of common stock. "We believe our current valuation should be considered in the context of our balance sheet strength and the strategic progress we have made over the past year," said HeartCore CEO Sumitaka Kanno. "Based on our preliminary internal estimates, our total net assets exceeded our current market capitalization, which we believe is an important factor when evaluating the Company's overall value. Over the past year, we have taken meaningful steps to reposition HeartCore-restructuring our business portfolio, sharpening our focus on financial consulting and Go IPO services, and improving our earnings profile. These developments support our confidence in the Company's long-term direction."

HeartCore CEO Sumitaka Kanno commented: "The divestiture of HeartCore Japan, which generated approximately JPY 1.8 billion in proceeds, represents a major milestone in our capital strategy and marks a transition into our next phase of growth. We are reallocating this capital into growth initiatives and strategically realigning our business to focus within the financial services sector. No matter how advanced autonomous AI becomes, we believe that businesses built on authentic human connection will remain irreplaceable. Our Go IPO business is the embodiment of this approach, and following the divestiture of our software business, we have focused on identifying new ways to broaden and elevate our practice within the financial services sector. With a few initiatives underway aimed at both expanding our service offerings and generating new, sustainable revenue streams beyond Go IPO, we look forward to sharing further details in the coming weeks."

Reports 9 month revenue $7M vs $21M last year. "This past month, we made the strategic and transformative decision to divest our software business subsidiary, HeartCore Japan, in an all-cash transaction, effectively making a full pivot into our Go IPO business," said Company CEO Sumitaka Kanno. "We believe this move positions HeartCore for long-term, sustainable success by sharpening our focus on a more profitable business in Go IPO. In parallel with this transaction, we also implemented meaningful expense reductions that will help lower operating costs going forward. A portion of the divestiture proceeds was used towards the one-time distribution payment, which was paid out yesterday. We are also continuing to assess all strategic alternatives to divest our subsidiary, Sigmaways. We believe this move will support our bottom-line performance going forward and further accelerate our shift towards the IPO consulting space."

HeartCore Enterprises received an additional 180-day extension period from the Nasdaq Listing Qualifications Department to regain compliance with the $1.00 minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). The extension notice has no immediate effect on the continued listing status of HeartCore's common stock on The Nasdaq Capital Market under the symbol "HTCR." The Company has until May 1, 2026, to meet the Minimum Bid Price Requirement. If at any time during the additional 180-calendar-day extension, the closing bid price of the common stock is at least $1.00 per share for a minimum of 10 consecutive business days, the Nasdaq Staff will provide the Company with a written confirmation of compliance and the matter will be closed. There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Requirement, even if it maintains compliance with the other listing requirements.