UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of May 2024
Commission
File Number: 001-41089
Advanced
Health Intelligence Ltd
(Translation
of registrant’s name into English)
71-73
South Perth Esplanade, Unit 5
South
Perth, WA 6151
Australia
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
As
previously reported, on November 7, 2023, Advanced Health Intelligence Ltd (the “Company”) received a deficiency notification
letter from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that its stockholders’
equity as reported in its Form 20-F for the period ended June 30, 2023 (the “Form 20-F”), did not meet the minimum stockholders’
equity requirement for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(1) requires companies listed on the
Nasdaq Capital Market to maintain stockholders’ equity of at least $2,500,000. In the Company’s Form 20-F, the Company reported
stockholders’ equity of A$2,027,882, which is below the minimum stockholders’ equity required for continued listing pursuant
to Nasdaq Listing Rule 5550(b)(1).
On
May 7, 2024, the Company received written notice from Nasdaq (the “Delisting Letter”) that the Company has not regained compliance
with the minimum stockholders’ equity requirement for continued listing. Accordingly, unless the Company requests an appeal of
the determination in the Delisting Letter, the Company’s securities will be delisted from The Nasdaq Capital Market, trading of
the Company’s common stock will be suspended at the opening of business on May 16, 2024, and a Form 25-NSE will be filed with the
Securities and Exchange Commission to remove the Company’s securities from listing and registration on Nasdaq.
The
Company fully intends to appeal such determination by requesting a hearing to Nasdaq’s hearings panel, pursuant to the procedures
set forth in the Nasdaq Listing Rule 5800 Series to stay the suspension of the Company’s securities and the filing of the Form
25-NSE pending the Panel’s decision.
This
Form 6-K is filed to satisfy the obligation under Nasdaq Listing Rule 5810(b) that the Company publicly disclose the deficiency within
four (4) business days after the date of the deficiency letter.
Attached
as Exhibit 99.1 and 99.2 to this Report on Form 6-K are copies of the press release of Advanced Health Intelligence Ltd, dated May 10,
2024: “AHI Shareholder Equity Compliance Update,” and dated May 10, 2024: “Kalibra Intentional Health Application Launches
with AHI Integrated Biometric Screening.”
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
| |
ADVANCED HEALTH INTELLIGENCE LTD |
| |
|
|
| Date: May 10, 2024 |
By: |
/s/
Scott Montgomery |
| |
|
Name: |
Scott Montgomery |
| |
|
Title: |
Chief Executive Officer |
Exhibit 99.1
| Market Update |
 |
| May 10, 2024 |
AHI Shareholder Equity Compliance Update
Advanced Health Intelligence Ltd (ASX: AHI)
(NASDAQ:AHI) (“AHI” or the “Company”) would like to inform the market that the Company has received
a delisting notification from The Nasdaq Stock Market LLC (“Nasdaq”) regarding the Nasdaq shareholders’ equity
deficiency re-compliance.
As previously notified to the ASX on November
8, 2023, the Company received a deficiency notification letter from the Listing Qualifications Staff at Nasdaq, indicating that the Company
was not in compliance with Nasdaq Listing Rule 5550(b) (the “Rule”) requiring it to maintain a minimum of US$2,500,000
in net shareholders’ equity, $35,000,000 market value of listed securities, or $500,000 net income from continuing operations.
In its Form 20-F filing with the SEC in the US
for the year ended June 30, 2023, the Company reported net shareholders’ equity of AUD$2,027,882 (approximately USD$1,344,485 using
the exchange rate reported by the Reserve Bank of Australia as of June 30, 2023), leaving the company with a deficiency of USD$1,155,515.
AHI has a right to appeal the delisting notification.
It will look to provide Nasdaq with the plan it has already initiated to comply and request a further extension to execute the plan.
As previously announced, AHI has secured funding
initiatives to address the deficiency. We have engaged with Oakley Capital for a AUD$1.957 million placement. Additionally, we are seeking
shareholder approval for a US shelf offering to complement further the already announced funding arrangement AHI is undertaking. We believe
that these initiatives will provide sufficient shareholder equity to meet the Nasdaq Listing Rule 5550(b) requirement. Furthermore, we
have prepared the necessary F-3 registration statement to seek SEC approval for the sale of securities in the US, which we will lodge
with the SEC once ASX trading is reinstated.
Nasdaq’s written notice does not affect
the listing or trading of the Company’s ADSs on Nasdaq at this time, and the Company will continue evaluating its alternatives to
resolve this listing deficiency.
The Chairman and Chief Executive Officer of Advanced
Health Intelligence Ltd have approved this announcement.
For more information, contact:
|
Scott Montgomery
Chief Executive Officer
Advanced Health Intelligence Ltd
E: admin@ahi.tech |
Vlado Bosanac
Founder/Head of Strategy
Advanced Health Intelligence Ltd
E: admin@ahi.tech |
Advanced Health Intelligence Ltd.
ACN 602 111 115
Postal Address: PO Box 190, South Perth WA 6951
Email: investors@ahi.tech
Exhibit 99.2
| Market Update |
 |
| May 10, 2024 |
Kalibra
Intentional Health Application Launches with AHI Integrated Biometric Screening.
Highlights
| ● | Kalibra launches with AHI’s biometrics,
enabling precision health monitoring and personalised journeys. |
| ● | Partnership transforms health management with
AI-driven biometrics, diagnostics, analytics, and machine learning. |
| ● | Kalibra platform tracks multiple data sources
for holistic well-being and personalised actions. |
| ● | Collaboration empowers health professionals
with real-time monitoring and data analytics for proactive care. |
Advanced Health Intelligence Ltd (ASX/NASDAQ:AHI)
(‘AHI’ or ‘the Company’) is pleased to update shareholders that Singapore-based Kalibra Pte Ltd (“Kalibra”)
have launched the latest iteration of its suite of health applications, leveraging AHI’s advanced diagnostics capabilities.
Kalibra has successfully
integrated AHI’s biometric scanning technology into the Kalibra platform, further extending its capability for precision health
monitoring and enabling purpose-driven health. This partnership is set to transform proactive health and longevity management by melding
AHI’s innovative diagnostic and risk assessment technologies with Kalibra’s analytical capabilities and employing machine
learning and inferential statistics to quantify health and turn data into action. This alliance heralds a future where personalised healthcare
is a concept and a reality, enabling individuals to navigate their health journeys with precision and insight.
The Kalibra platform
has been purpose-built to power a new era of health and augmented-intelligence-assisted decision support personalisation and augmented-intelligence-assisted
decision support. The connected consumer demands an integrated, holistic health picture that takes all the data available about them in
a single, coherent image. Kalibra leverages the latest AI technology to seamlessly incorporate nutrition, exercise, sleep, mindfulness,
relationships, and personal growth into a journey toward improved healthspan.
Kalibra’s core
purpose is to leverage time as the most valuable asset by offering a personalised health journey crafted by a team of scientists, practitioners,
AI experts, and optimists. Kalibra utilises real-time, composable data to provide targeted advice for behavioural change, recognising
the individuality of health needs. The platform’s innovation lies in its real-time tracking and AI-driven analysis of data from
various sources, including wearables and AHI’s proprietary scans, to identify the most impactful actions for an individual’s
health. By understanding and correcting imbalances across the six pillars, Kalibra aims to deliver a comprehensive approach to achieving
and maintaining optimal well-being in all life’s dimensions.
Kalibra’s platform
is globally accessible to health practitioners and their clientele through Business-to-Business (B2B) and Business-to-Consumer (B2C) onboarding
strategies. In key markets such as the United States, United Kingdom, Canada, and Australia, Kalibra provides a tailored white-label solution,
allowing large organisations to integrate the Kalibra-AHI platform seamlessly.
This strategic offering
positions these entities to deliver a comprehensive digital health and longevity experience tailored to the needs of their own brand.
Advanced Health Intelligence Ltd.
ACN 602 111 115
Postal Address: PO Box 190, South Perth WA 6951
Email: investors@ahi.tech
| Market Update |
|
| May 10, 2024 |
As a trainer or coach
partnering with Kalibra, you are empowered to provide continuous, 360-degree care to your clients. The platform offers real-time client
health monitoring, integrating physical, mental, social, and emotional health metrics and advanced telemetry and genetic data. The AI-driven
platform identifies the clients’ highest-value actions and adapts to your client’s lifestyle, offering 24/7 monitoring for
preventative care. Customisable assessments allow personalised wellness plans, fostering long-term habit formation and scaling practice
with powerful data analytics. Kalibra engages and motivates clients with intuitive visual scorecards and personalised insights and celebrates
their progress.
Ivan Vatchkov - CEO of Kalibra, said:
“This collaboration
heralds the dawn of Healthcare 3.0, marrying AHI’s sophisticated technology with Kalibra’s dynamic scientific approach to
forge a new era in healthcare. We’re pioneering a path where preventive health and longevity services are accessible in every home.
Our combined efforts will empower health systems and professionals with a real-time health application, transforming care delivery. By
personalising care and harnessing the power of digital assessments and predictive analytics, we’re not just innovative; we’re
revolutionising the patient-care paradigm, enabling health professionals to focus more on healing and less on administrative tasks.”
About Kalibra: Your Partner in Personalized
Health and Longevity
Kalibra is more than just a platform; it’s
your partner in the quest for a richer, fuller life. Our essence is to provide you with more than mere moments; we aim to expand your
time itself. The ethos of Kalibra is crafted by an eclectic team of experts who believe that a well-lived life is the ultimate achievement.
From scientists to technologists, storytellers to strategists, each brings a unique perspective to your health journey, offering a symphony
of skills that fine-tune your path to wellness.
Our mission is to arm you with an integrated health
portrait painted with the broad strokes of AI-driven insights and the fine lines of personalised data. This portrait is not static; it
evolves with real-time precision, enabling you to manage, prevent, and pivot as your health journey unfolds. Kalibra is dedicated to unlocking
your healthspan, with a conviction that health exists on a spectrum that demands a customised approach.
Kalibra’s approach to longevity is built
on the understanding that mental, physical, and social facets of health are inextricably linked, influencing and enhancing one another.
We’re not just about extending years; we’re about enriching them, drawing on the full range of human health and potential.
We transform data into actionable steps, turning the complex science of longevity into an accessible, intuitive, and actionable plan.
As we invite you to embark on this journey with
Kalibra, you’re not just adopting a health app; you’re engaging with a philosophy that appreciates the intricacies of modern
health. You’re connecting with a vision that sees beyond the horizon of traditional healthcare to a future where every individual
is empowered to navigate their wellness with clarity and confidence. Welcome to the new era of health optimisation. Welcome to Kalibra.
For more information on Kalibra, please visit
https://kalibra.ai/.
Advanced Health Intelligence Ltd.
ACN 602 111 115
Postal Address: PO Box 190, South Perth WA 6951
Email: investors@ahi.tech
| Market Update |
|
| May 10, 2024 |
Vlado Bosanac, Founder
and Head of Strategy at AHI, said:
“The collaboration
with Kalibra marks a transformative moment in health technology. This synergy between AHI’s health assessment technology and Kalibra’s
intentional health capabilities offers users unprecedented access to real-time, holistic health assessments. It’s a pivotal step
that amplifies Kalibra’s commitment to prolonging healthspan and showcases the precise reasoning behind AHI’s dedication to
elevating health intelligence on a global scale.
The integration sets
a new standard for personalised healthcare, empowering both consumers and health professionals with unparalleled insights into their health,
wellness and lives.”
The pricing for the AHI
technology integrated into the Kalibra application has been agreed as follows: USD$5.00 per user per month for FaceScan and BodyScan,
limited to 30 non-accumulative scans per month. Additionally, the Biometric Health Assessment (BHA) price is set at USD$10 per month per
assessment or a 50/50 revenue share when sold at a price greater than USD$20.00.
The Chairman and Chief Executive Officer of Advanced
Health Intelligence Ltd have approved this announcement.
For more information, contact:
|
Scott Montgomery
Chief Executive Officer
Advanced Health Intelligence Ltd
E: admin@ahi.tech
|
Vlado Bosanac
Founder/Head of Strategy
Advanced Health Intelligence Ltd
E: admin@ahi.tech |
About Advanced Health Intelligence Ltd
AHI offers a cutting-edge, mobile phone-based
health screening solution that enables individuals to undergo comprehensive health assessments and risk stratification. Utilising mobile
phone technology, individuals can easily conduct a single scan or a series of scans to identify established risk markers for various health
conditions. The resulting data is then shared with healthcare providers, insurers, employers, and government agencies, facilitating timely
triage and appropriate care pathway allocation.
Over the past decade, AHI has been at the forefront
of health-tech innovation, pioneering the use of smartphones in digital-first healthcare. Our journey began with the groundbreaking development
of the world’s first on-device body dimensioning capability. Since then, we have continued to evolve and adapt our solutions to
meet the dynamic needs of healthcare providers, who are dedicated to delivering high-quality patient care and early intervention for escalating
health conditions. AHI’s patented technology has enabled us to push the boundaries of early intervention through digital healthcare,
offering a suite of modular solutions that are transforming the industry.
Advanced Health Intelligence Ltd.
ACN 602 111 115
Postal Address: PO Box 190, South Perth WA 6951
Email: investors@ahi.tech
| Market Update |
|
| May 10, 2024 |
AHI has assembled a team of experts in machine
learning, artificial intelligence, computer vision, and medically trained data scientists to develop and deploy this cutting-edge risk
assessment tool. This comprehensive solution encompasses:
| ● | Anthropometric and body composition analysis
to identify obesity-related comorbidities, including diabetes risk stratification. |
| ● | Predictive modelling of blood biomarkers, including
HbA1C, HDL, LDL, and 10-year mortality risk estimation. |
| ● | Transdermal Optical Imaging technology is used
to assess vital signs non-invasively and provide risk stratification for cardiovascular disease. |
| ● | On-device dermatological image analysis for identifying
over 588 skin conditions across 133 categories, including melanoma detection. |
| ● | Personalised therapeutic and non-therapeutic
health coaching to promote healthy habits and enhance health literacy. |
AHI has developed a biometrically driven triage
solution using only a smartphone. This solution enables the identification of health risks across populations and directs individuals
to appropriate care pathways for proactive health management. The technology provides cost-effective health access to billions of smartphone
users worldwide, empowering these individuals to take charge of their health journey and improving health outcomes globally.
For more information,
please visit: www.ahi.tech
Advanced Health Intelligence Ltd.
ACN 602 111 115
Postal Address: PO Box 190, South Perth WA 6951
Email: investors@ahi.tech
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