HeartCore Authorizes $3.5 Million Share Repurchase Program
June 08 2022 - 10:59AM
InvestorsHub NewsWire
HeartCore Authorizes $3.5 Million Share Repurchase
Program
New York, NY and Tokyo, Japan -- June 08, 2022 --
InvestorsHub NewsWire -- HeartCore Enterprises,
Inc., ("HeartCore" or the "Company"), a leading software
development company, today announced that its Board of Directors
has authorized a share repurchase program pursuant to which the
Company may repurchase up to $3.5 million of its outstanding shares
of common stock.
"The authorization of this share repurchase program reflects our
leadership's confidence in the trajectory of the organization and
our ability to generate long-term shareholder value," said CEO
Sumitaka Yamamoto. "With the continuous growth of our core CMS and
Digital Transformation businesses, supplemented by our latest Go
IPO consulting service, we believe we are poised for a strong 2022
as we look to expand our footprint across Japan and the
international markets. With the momentum we've generated so far, we
strongly believe there is a disconnect between our current share
price and the fair value of our common stock, based on what we
believe to be HeartCore's future earnings potential."
The Board authorized the Company to purchase its common stock
from time to time on a discretionary basis through open market
purchases, privately negotiated transactions or other means,
including trading plans intended to qualify under Rule 10b5-1, in
accordance with applicable federal securities laws and other
applicable legal requirements. The Company expects to fund these
repurchases through existing cash balances. Decisions regarding the
amount and the timing of purchases under the program will be
influenced by the Company's cash on hand, cash flows from
operations, general market conditions and other factors. HeartCore
is not obligated to acquire any particular amount of its common
stock. This program has no set termination date and may be
suspended or discontinued by its Board of Directors at any
time.
About HeartCore Enterprises, Inc.
Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading
software development company offering Software as a Service (SaaS)
solutions to enterprise customers in Japan and worldwide. The
Company also provides data analytics services that allow enterprise
businesses to create tailored web experiences for their clients
through best-in-class design. HeartCore's customer experience
management platform (CXM Platform) includes marketing, sales,
service and content management systems, as well as other tools and
integrations, which enable companies to enhance the customer
experience and drive engagement. HeartCore also operates a digital
transformation business that provides customers with robotics
process automation, process mining and task mining to accelerate
the digital transformation of enterprises. Additional information
about the Company's products and services is available
at www.heartcore.co.jp and https://heartcore-enterprises.com/.
Forward-Looking Statements
This press release contains "forward-looking statements." Such
statements can be identified by words such as "outlook," "expect,"
"convert," "believe," "plan," "future," "may," "should," "will,"
and similar references to future periods. Forward-looking
statements include express or implied statements regarding the
timing, price and amount of potential repurchases of our common
stock, our expected financial and operating results, the size of
our market opportunity, the success of our new products and
capabilities, the impact of COVID-19 and vaccines on the way people
do business, and other statements regarding our ability to achieve
our business strategies, growth, or other future events or
conditions. Such statements are based on our current beliefs,
expectations, and assumptions about future events or conditions,
which are subject to inherent risks and uncertainties, including
our ability to sustain our recent revenue growth rate, attract new
customers and expand sales to existing customers; fluctuation in
our performance, our history of net losses and expected increases
in our expenses; competition in our markets and any decline in
demand for our solutions; our ability to expand our sales and
marketing capabilities and otherwise manage our growth; the impact
of the COVID-19 pandemic; disruptions or other issues with our
technology or third-party services; compliance with data privacy,
import and export controls, customs, sanctions and other laws and
regulations; intellectual property matters; and matters relating to
our common stock, along with the other risks and uncertainties
discussed in the filings we make from time to time with the
Securities and Exchange Commission. Actual results may differ
materially from those indicated in forward-looking statements, and
you should not place undue reliance on them. All statements herein
are based only on information currently available to us and speak
only as of the date hereof. Except as required by law, we undertake
no obligation to update any such statement.
HeartCore Investor Relations Contact:
Gateway Group, Inc.
Matt Glover and John Yi
HTCR@gatewayir.com
(949) 574-3860
HeartCore Enterprises (NASDAQ:HTCR)
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