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NEW YORK/TOKYO - HeartCore Enterprises, Inc. (NASDAQ:HTCR), currently trading at $0.51 and showing an 8.5% gain over the past week, announced Monday that its Go IPO client, rYojbaba Co., Ltd., has commenced trading on the Nasdaq Capital Market under the symbol "RYOJ". According to InvestingPro analysis, HeartCore maintains a strong balance sheet with more cash than debt.
HeartCore, a Tokyo-based enterprise software and consulting services company with a market capitalization of approximately $12 million, received compensation of $500,000 in initial fees and warrants to acquire 3% of rYojbaba’s common stock on a fully diluted basis, valued at approximately $1.35 million as of August 14, 2025.
As part of the agreement, HeartCore provided comprehensive IPO support services to rYojbaba, including assistance with audit and legal firm hiring, document translation, preparation of internal controls documentation, and F-1 filing support.
"This milestone not only represents a major achievement for our client but also is an encouraging sign for broader IPO activity, particularly within the micro- and small-cap realm," said HeartCore CEO Sumitaka Kanno.
The company reported signing two new Go IPO clients this year and indicated that several other clients are progressing toward potential listings in late 2025 or early 2026. While InvestingPro data shows the stock has faced significant volatility, with a 67% decline over the past six months, subscribers can access 8 additional ProTips and comprehensive financial metrics to better evaluate the company’s potential.
HeartCore expects the warrants received from rYojbaba to contribute to its third-quarter revenue. The company offers Software as a Service solutions, data analytics services, and digital transformation services alongside its Go IPO consulting business.
This information is based on a press release statement from HeartCore Enterprises.
In other recent news, HeartCore Enterprises has announced significant leadership changes with the upcoming resignations of two key members. Heather Neville will step down from the Board of Directors on September 1, 2025, while Prakash Sadasivam will resign as Chief Strategy Officer and board member effective August 31, 2025. The company clarified that these resignations are not due to any disagreements regarding its operations or policies. Additionally, HeartCore has secured its 16th Go IPO consulting contract with Cipher Core Co., Ltd., valued at $500,000, which includes a warrant for 3% of Cipher Core’s capital stock. This agreement is structured for an initial 12-month term, with provisions for hourly compensation if extended. Furthermore, HeartCore has entered into a new partnership with robotics company tmsuk Co. Ltd., aiming to assist them in listing on the Nasdaq Stock Market. Similar to the Cipher Core contract, HeartCore will receive $500,000 and a warrant for a 3% stake in tmsuk, pending shareholder approval. These developments highlight HeartCore’s ongoing efforts to expand its consulting services.
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