HSCS

EX-99.1

2 ea030562601ex99-1.htm

PRESS RELEASE DATED SEPTEMBER 15, 2026

Exhibit 99.1

HeartSciences Reports Fiscal First Quarter 2027 Financial Results and Provides Business Update

Proposed business combination with Fortitude, a vertically-integrated digital asset mining platform anchored in Zcash, continues to progress, with closing expected in Q4 calendar 2026

Commercial effort concentrated on the MyoVista Insights™ platform, with first US commercial agreements signed and selection as the AI-ECG delivery platform for a major European reference center

Southlake, TX, September 15, 2026 (GLOBE NEWSWIRE) -- HeartSciences Inc. (Nasdaq: HSCS; HSCSW) (“HeartSciences” or the “Company”), a healthcare information technology (“HIT”) company focused on advancing electrocardiography (“ECG” or “EKG”) through the integration of artificial intelligence (“AI”), today reported financial results for its fiscal first quarter ended July 31, 2026 (“FQ1 2027”) and provided a business update.

Proposed Transaction with Fortitude

The proposed business combination with Fortitude Mining Holdings, Inc. (“Fortitude”), announced in June 2026 (the “Proposed Transaction”), continues to progress. The Company expects to close the Proposed Transaction in Q4 calendar 2026, subject to customary closing conditions, including approval by HeartSciences’ shareholders.

Fortitude is a meaningful part of the Zcash ecosystem and, in our view, Zcash has been among the best-performing large capitalization digital assets over the past year and is attracting growing institutional interest.

Since announcement of the Proposed Transaction, Fortitude has reported a number of developments, including:

●Execution of a purchase agreement for 9,000 Z15 Pro miners, representing approximately 7.5 Gsol/s of Zcash mining capacity;

●Energization of its 12 MW facility in Grand Island, Nebraska; and

●Acquisition of a 12.5 MW facility in Prosser, Nebraska.

In August 2026, Fortitude subscribed for approximately $1.0 million of shares of HeartSciences’ common stock. The exchange ratio under the merger agreement between Fortitude and the Company was not adjusted as a result, and no additional shares will be issued to Fortitude at closing in respect of the amount invested.

MyoVista Insights

HeartSciences has continued to concentrate its commercial effort on MyoVista Insights, a device-agnostic ECG management and AI orchestration platform that works with the ECG hardware hospitals already own. Progress in the period and since includes:

●First US commercial agreements signed following full launch;

●Availability of the first third-party FDA-cleared AI-ECG algorithm through the AI-ECG algorithm marketplace, with the platform now at version 1.4 following further upgrades since launch;

●Selection of MyoVista Insights as the ECG management and AI-ECG delivery platform for a clinical program at a major European reference center, which is anticipated to extend into a larger multicenter project;

●Launch of a new corporate website built around MyoVista Insights, giving the healthcare industry and its wider stakeholders a much clearer account of the platform’s purpose, functionality, interoperability and benefits, and of how the AI-ECG marketplace is designed to deliver algorithms directly into clinical workflows; and

●Continued expansion of the patent portfolio, including the grant of a European patent for ECG-based assessment of diastolic function, taking the portfolio to more than 45 granted patents.

The Company’s resources continue to be directed primarily to MyoVista Insights. Feedback from clinicians and health systems has been consistently positive, and our priorities are growing revenue, building relationships with key reference centers, and expanding the number of algorithms available through the AI-ECG marketplace.

The FDA 510(k) submission for the MyoVista wavECG device remains under FDA review. However, as previously set out, that submission does not include the AI algorithm necessary for commercialization, which would require significant additional research and development, regulatory and commercialization expenditure over an uncertain timeline and is onerous relative to the software platform. It is also apparent that the emergence of cloud-based AI-ECG algorithms reduces the commercial rationale for a proprietary device with embedded algorithms. These considerations apply irrespective of the outcome of the pending 510(k) review and a probable timeline to commercialization cannot currently be established. Accordingly, the Company has recorded a reserve of $0.3 million against the remaining carrying value of the related inventory and does not currently intend to commit significant additional resources to commercialization of the device.

Management Commentary

“This has been a period of significant change for the Company. The proposed combination with Fortitude is expected to give our shareholders exposure to a business that is a meaningful participant in