Scott M. Boruff - Jul 31, 2024 Form 5 Insider Report for Healthcare Integrated Technologies Inc. (HITC)

Role
Chief Executive Officer, Director, 10%+ Owner
Signature
/s/ Scott M. Boruff
Stock symbol
HITC
Transactions as of
Jul 31, 2024
Transactions value $
$1,240,118
Form type
5
Date filed
8/2/2024, 04:05 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HITC Common Stock Purchase $768K +6.98M $0.11 6.98M Jul 31, 2023 Note F1, F2
transaction HITC Common Stock Purchase $472K +4.72M +208.47% $0.10 6.98M Jul 31, 2023 Note F1, F3
holding HITC Holdings 11.7M Jul 31, 2024 Note F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares of common stock of the issuer are held of record by Platinum Equity Advisors, LLC ("Platinum"). Platinum is owned and controlled by the spouse of the Reporting Person. In addition, the Reporting Person is the Manager of Platinum and has the shared right to direct the vote and disposition of securities owned by Platinum. The Reporting Person disclaims beneficial ownership of the reported shares of common stock except to the extent of his pecuniary interest therein, and the inclusion of such shares in this Form 5 shall not be deemed an admission of beneficial ownership of the reported shares for any purpose.
F2 On July 31, 2023, the Board of Directors of the issuer approved the issuance of 6,983,343 shares of common stock to Platinum Equity Advisors, LLC (See 1. Above) as payment for accrued compensation owed to the Reporting Person as of as of July 31, 2023 under an Employment Agreement dated March 13, 2018 and an Assignment of Rights to Compensation dated May 1, 2021.
F3 On July 31, 2023, the Board of Directors of the issuer approved the issuance of 4,719,500 shares of common stock to Platinum Equity Advisors, LLC (See 1. Above) as partial payment for fees owed to Platinum as of July 31, 2023 under a Non-Employee Chief Executive Officer Engagement Agreement dated May 1, 2021.