Healthcare Integrated Technologies appoints new director

Healthcare Integrated Technologies Inc. (OTC Bulletin Board: HITC), a Nevada-based company operating within the amusement and recreation services sector with a market capitalization of $33.4 million, has announced the appointment of Anthony Chapman to its Board of Directors. The appointment, effective as of Monday, took place on March 14, 2025, and is set for a three-year term. The company’s stock has shown remarkable performance, gaining over 432% in the past year according to InvestingPro data.

Mr. Chapman’s compensation will be entirely equity-based, consisting of a restricted stock grant totaling 400,000 shares of the company’s common stock. The grant is structured to vest incrementally over the next three years, with vesting dates on March 14 of 2026, 2027, and 2028. InvestingPro analysis indicates the company maintains a strong financial health score of 2.53, despite operating with modest gross profit margins of 20%.

The details of this corporate governance development were disclosed in a Form 8-K filing with the Securities and Exchange Commission on Tuesday, March 18, 2025. The filing also noted that the company’s principal executive offices are located at 311 S. Weisgarber Road, Knoxville, TN 37919, and that the company was previously known as Grasshopper Staffing, Inc., with a name change occurring on January 22, 2016, and before that, as Tomichi Creek Outfitters with a change on August 19, 2013.

Healthcare Integrated Technologies has not provided additional details regarding Mr. Chapman’s background or the specific reasons for his selection to the board. The company, which has identified itself as an emerging growth company, is subject to certain reporting requirements under the Securities and Exchange Act of 1934.

This corporate update, based on a press release statement, reflects the company’s ongoing adjustments to its board composition and governance structure. The information is intended to keep investors informed of the latest changes within the company’s leadership. InvestingPro subscribers have access to additional insights, including multiple ProTips highlighting the company’s valuation metrics and cash flow analysis. Investors can access comprehensive financial health scores and detailed metrics by subscribing to InvestingPro.

In other recent news, Healthcare Integrated Technologies Inc. announced the resignation of Ryan E. Holland from its Board of Directors. The resignation, effective December 20, 2024, was disclosed in a filing with the Securities and Exchange Commission. The company clarified that Holland’s departure was not due to any disputes or disagreements with its operations or policies. Healthcare Integrated Technologies has begun the process of finding a replacement for Holland as part of its governance adjustments. The company stated that there would be no immediate impact on its operations or strategic direction following this change. The search for a new board member is currently underway. This development occurs as the company continues its operations under the leadership of CEO and Chairman Scott M. Boruff.

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