Heart Test Laboratories, Inc. (Heart Test Laboratories), a Texas-based company, has filed a Form 8-K with the U.S. Securities and Exchange Commission on January 25, 2024, reporting significant financial developments following the close of its second fiscal quarter ended October 31, 2023. The company disclosed an unaudited pro forma balance sheet to illustrate the impact of several key events, including the receipt of proceeds from stock offerings in November and December 2023, the conversion of loan notes into common stock, and the issuance of common stock to the Icahn School of Medicine at Mount Sinai for license agreement rights. These events have enabled the company to meet the Nasdaq Capital Market's minimum stockholders' equity requirement of $5 million. The unaudited pro forma balance...Show More

Heart Test Laboratories, Inc. (Heart Test Laboratories), a Texas-based company, has filed a Form 8-K with the U.S. Securities and Exchange Commission on January 25, 2024, reporting significant financial developments following the close of its second fiscal quarter ended October 31, 2023. The company disclosed an unaudited pro forma balance sheet to illustrate the impact of several key events, including the receipt of proceeds from stock offerings in November and December 2023, the conversion of loan notes into common stock, and the issuance of common stock to the Icahn School of Medicine at Mount Sinai for license agreement rights. These events have enabled the company to meet the Nasdaq Capital Market's minimum stockholders' equity requirement of $5 million. The unaudited pro forma balance sheet is based on the company's unaudited balance sheet as of October 31, 2023, and includes adjustments for subsequent events up to the filing date. The report also includes the issuance of warrants and shares to various parties as consideration for services, conversions, and rights acquisitions. This financial information is intended to provide investors with a snapshot of the company's financial position after these significant events.