Bolstered by an improving financial position and increasing growth in the US market, HeartCore Enterprises (HTCR) stock is on the rise, hitting .95 before closing Friday, March 8. Stock watchers are noticing “ HTCR soared +72.41% in three months, becoming one of the top quarterly gainers among penny stocks,” Tickeron reported this weekend. Monday’s open saw the increase continue notching up to .96.
The company has issued several significant announcements in 2024 that has improved its cash position by selling the warrants it received for one Go IPO client that went public last week. HeartCore’s set to realize the full $9 million payment in cash in the first quarter of 2024.
“The sale of the Go IPO client warrants substantially increases our top line and enhances our cash position for 2024 fortifying our ability to pursue strategic opportunities that advance our enterprise software business and global expansion initiatives,” said HeartCore CEO Sumitaka Kanno.
The company also signed its an agreement (“Consulting Agreement”) with Jyo Co., Ltd. for its 12th Go IPO consulting service win.
As part of HeartCore’s Go IPO business, the Company services clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore receives an initial cash amount as initial fees, followed by warrants for common stock.
“With an amplified cash reserve, we are well-equipped to further evaluate and execute potential M&A ventures that improve our existing software offerings,“ Kanno said. “As our previous acquisitions of Sigmaways and Sabatini Global’s sales team, alongside the recent establishment of HeartCore Luvina Vietnam continue to bear fruit, these M&A opportunities remain integral to our long-term global expansion initiatives. Furthermore, as we make headway with our existing Go IPO clients, we plan to capitalize on future opportunities by selling additional warrants upon their public listing on a U.S. exchange, strengthening our financial position for the year.”