Framework Journal · one stock, one dated entry

Recorded 2026-07-19 · Permanent

HeartBeam, Inc. BEAT

Clears both ethical standards

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · HeartBeam, Inc.

The label
Distribution

read at $0.56

HeartBeam, Inc. holds its Distribution at $0.56.

PHINPOOPSC
  • PHPhase · the trend structure carries the Distribution label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · passes the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-07-19
PhaseDistribution · caution
Quantitative stateThe statistical read favours the sellers, held for 8 days
Price$0.56
ValuationN/A trailing · -1.05 forward price to earnings
Values screenPASS · score 96.9
Beta-0.83

The opportunity · what the numbers say it is worth

Our framework reads FAIR VALUE

Read at
$0.56
N/A P/E · -1.05 fwd
Analyst target (avg)
$3.25
+481% to current
Target low $2.00Analyst target rangeTarget high $5.00
▲ current $0.56 · | average target

Price history & projections · where it has been, where the models see it going

$5.3$2.9$0.4TODAY3y agoPROJECTIONAnalyst high$5.00 +545%Analyst avg$3.25 +319%

The valuation journey · where the price sits against fair value and the Street

Current
$0.56
you are here
Analyst avg
$3.25
+481%
Analyst high
$5.00
+794%

Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.

Profit margin0.00%
Analyst consensusStrong Buy · 4 covering

Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.

The values screen, explained · five checks, plain English

This company clears both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. Here is how it did on each:

The common standard · AAOIFI
Used by most halal investing apps
✓ PASSES
Our stricter standard · asset-based
The one Titan applies
✓ PASSES

What these two standards are, and how they differ →

  • Business activity Its core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending. Pass
  • Debt load Interest-bearing debt is just 0.0% of its assets, well under the one-third ceiling — it does not run on borrowed money. Pass
  • Interest-bearing cash Cash held in interest-bearing accounts and securities is 8.3% of assets, under the one-third limit. Pass
  • Receivables Money owed to the company is 0.0% of assets, under the 49% limit. Pass
  • Revenue purity Only 0.0% of revenue comes from non-compliant sources — under the 5% line. Pass

Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.

The business, in plain words · what the numbers mean

The fundamentals · plain-English read
Forward P/E-1.1x
Profit margin0.0%
currently unprofitable
Return on equity-495.6%
not currently earning a positive return on equity
Current ratio0.74
below 1 — short-term bills exceed liquid assets
Beta-0.83
barely tracks the market's swings
Market cap$31M
Employees16

The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.

Plain-English interpretation of our own screen data. Analysis, not advice.

Related securities · others in BEAT's space worth a look

Screened names in the same industry · explore each on its own page.

Where & how to trade · wherever in the world you are

BEAT trades on Nasdaq. As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.

The trader read · the latest dated commentary

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 33.4% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral. Over the past year the shares are down 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (3 analysts) rates it strong buy, with a mean price target of $4. Entered 2026-07-22 · Markdown

The dated journal · newest first, never edited

2026-07-22 Markdown $0.56 -33.4% Entry 4

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 33.4% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral. Over the past year the shares are down 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (3 analysts) rates it strong buy, with a mean price target of $4.

2026-07-18 Markdown $0.84 +0.0% Entry 3

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score (97). The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading neutral. Over the past year the shares are down 52%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (3 analysts) rates it strong buy, with a mean price target of $4.

2026-07-03 Markdown $0.84 +0.0% Entry 2

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score (97). The risk-adjusted return profile shows modest positive risk-adjusted returns.

2026-07-02 Markdown $0.84 Entry 1

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with near-perfect ethical score (97). The risk-adjusted return profile shows modest positive risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

The insider ledger · Form 4 filings, as filed

Most recent filings · BEAT
DateInsiderTitleTypeSharesValue
2026-04-16 FERRARI RICHARD M Director 62,500 $50,000
2026-04-16 FERRARI RICHARD M Director 57,500 $46,000
2026-04-16 ELFRINK WILLHEM P. Director 187,500 $150,000
2026-04-16 VAJDIC BRANISLAV Director 31,250 $25,000
2026-04-16 ORTIGAS-WEDEKIND MARGARITA Director 25,000 $20,000
2026-04-16 STROME MARK E. Director 750,000 $600,000
2026-04-16 ENO ROBERT PAUL President 12,500 $10,000
2026-04-16 JAFF MICHAEL R. Director 31,250 $25,000
2026-04-16 CRUICKSHANK TIMOTHY Chief Financial Officer 31,250 $25,000
2026-02-09 FERRARI RICHARD M Director 50,000 ·

Public filings, recorded as found. The full tape lives at Insider Intelligence.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $0.89 -12.6% · $874 -12.6%
2 months $1.15 -32.6% · $674 -32.6%
3 months $1.47 -47.2% · $528 -47.2%
6 months $2.12 -63.4% · $366 -63.4%
1 year $1.60 -51.5% · $485 -51.5%
2 years $2.38 -67.4% · $326 -67.4%
3 years $2.63 -70.5% · $295 -70.5%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever BEAT does next, these words stay.

HeartBeam, Inc. · BEAT · Distribution · $0.56
Recorded 2026-07-19 · before the outcome · scored mechanically

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