Scott M. Boruff, a director and significant shareholder of Healthcare Integrated Technologies Inc. (OTC:HITC), recently sold a substantial block of the company's stock. The stock, currently trading at $0.14, has shown remarkable momentum with a nearly 100% gain over the past year. According to a regulatory filing, Boruff disposed of 600,000 shares on December 20, at a price of $0.10 per share, totaling $60,000. Following this transaction, Boruff now holds 11,064,854 shares indirectly. The shares are held by Platinum Equity Advisors, LLC, which is controlled by Boruff's spouse, with Boruff serving as the manager. He disclaims beneficial ownership of these shares except to the extent of his pecuniary interest. InvestingPro analysis reveals the company, valued at approximately $16 million, faces some financial challenges with weak gross profit margins. Subscribers to InvestingPro can access additional insights and metrics to better understand the company's financial position.
In other recent news, Healthcare Integrated Technologies Inc. announced the immediate resignation of Ryan E. Holland from its Board of Directors. This was disclosed in a recent regulatory filing with the Securities and Exchange Commission. The company clarified that Holland's decision was not due to any disputes or disagreements, and the process to find his replacement is currently underway.
This development is part of the company's ongoing governance and oversight adjustments. There has been no immediate impact indicated on the company's operations or strategic direction following Holland's departure. The search for a new board member is actively ongoing, as the company continues to navigate the market under the leadership of CEO and Chairman of the Board, Scott M. Boruff.
These are recent developments within the company, as Healthcare Integrated Technologies continues its focus on integrating technology into healthcare services, aiming to improve healthcare delivery efficiency and effectiveness.
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