HeartSciences files fiscal 2026 10-K, advances Fortitude Mining merger as proxy filing nears

Against the backdrop of early-stage health IT companies searching for scale in a selective funding environment, the strategic calculus at HeartSciences Inc. (Nasdaq: HSCS; HSCSW) has shifted sharply toward consolidation. The Southlake, Texas company filed its Annual Report on Form 10-K for the fiscal year ended April 30, 2026 with the U.S. Securities and Exchange Commission on July 23, 2026, and confirmed that a preliminary proxy statement for its proposed business combination with Fortitude Mining Holdings, Inc. is expected shortly.

The Fortitude combination and what it offers HSCS shareholders

Fortitude, currently wholly-owned by Digital Currency Group, is an institutional-scale, vertically integrated venture mining platform operating across the Proof-of-Work ecosystem and anchored in Zcash. It pairs self-mining operations with an owned data center footprint and a diversified power portfolio backed by competitive long-term contracts. HeartSciences told shareholders the proposed transaction provides continued ownership in a business already operating at scale, generating meaningful revenue, and backed by an established investor. Its MyoVista Insights AI-ECG technology, the company said, would continue advancing with greater focus within the combined structure.

Andrew Simpson, HeartSciences chief executive, described fiscal 2026 as a landmark year, citing the launch of MyoVista Insights and the beginning of the company's transition to mainstream commercial revenue. The proxy statement will set out the transaction terms in detail, he said, with a full earnings release and business update expected early next week.

Filing sequence: proxy before financials

HeartSciences is staging its disclosures deliberately. The preliminary proxy comes first; fiscal 2026 results for the period ended April 30, 2026 follow afterward. For shareholders attempting to price both the standalone AI-ECG business and the proposed combination simultaneously, that sequence shapes what information is available when.

Macro read-through: two sectors, one capex story

The deal crosses asset classes. Fortitude's Proof-of-Work business brings with it the sector-wide capex dynamics that have come to define data center and mining infrastructure: long-term power contracts, owned physical footprint, and meaningful exposure to Zcash network conditions. HeartSciences, by contrast, is still in the early phase of commercial revenue generation for MyoVista Insights. The combined company's revenue profile and cost structure will need to be assessed against both the digital asset pricing cycle and the health IT demand environment, and the proxy statement is where that picture will first take shape.

Risks still to be disclosed

The transaction requires HeartSciences shareholder approval. Disclosed risk factors include the highly volatile nature of Zcash and cryptocurrency prices, significant legal and regulatory uncertainty around digital assets, and integration risk between two operationally distinct businesses. Investors are urged by the company to read the full proxy statement before voting. The definitive filing with the SEC will carry the complete transaction terms. Until then, the fiscal 2026 earnings release expected early next week is the next scheduled disclosure.

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