SCHEDULE: Iroquois Capital Boosts SCWorx Stake to 9.99%

Iroquois Capital Management and affiliates disclose increased beneficial ownership in SCWorx Corp., reaching up to 9.99% of common stock, subject to beneficial ownership blockers.

Summary

• Iroquois Capital Management, LLC, Richard Abbe, and Kimberly Page (the "Reporting Persons") have filed an Amendment No. 2 to Schedule 13G regarding their beneficial ownership in SCWorx Corp.
• As of June 30, 2025, Iroquois Capital Management, LLC and Kimberly Page each beneficially own 305,524 shares of SCWorx Common Stock, representing 7.75% of the class.
• Richard Abbe beneficially owns 403,850 shares of SCWorx Common Stock, representing 9.99% of the class.
• The beneficial ownership includes shares issuable upon the exercise of Warrants and conversion of Convertible Notes.
• Iroquois Master Fund Ltd. holds Warrants to purchase 12,139,030 shares and Convertible Notes to purchase 321,796 shares at a conversion price of $0.3496.
• Iroquois Capital Investment Group LLC (ICIG) holds Warrants to purchase 9,628,258 shares and Convertible Notes to purchase 796,828 shares at a conversion price of $0.3496.
• The Convertible Notes and certain Warrants are subject to a 4.99% Beneficial Ownership Blocker, while other Warrants are subject to a 9.99% Beneficial Ownership Blocker, limiting the ability to convert or exercise if it would exceed these thresholds.
• The reported percentages already account for these Beneficial Ownership Blockers, meaning the Reporting Persons cannot currently exercise all Warrants or convert all Convertible Notes due to these limitations.
• The percentages are based on 3,638,703 shares of common stock outstanding as of May 15, 2025, as reported in SCWorx Corp.'s Annual Report on Form 10-Q.

Sentiment

Score: 6

Explanation: The filing is primarily a factual disclosure of beneficial ownership. The continued significant stake by Iroquois Capital Management and affiliates, despite beneficial ownership blockers, suggests a sustained investment interest. The blockers themselves are a neutral-to-slightly-positive governance feature for the company, preventing rapid accumulation of control.

Positives

• The Reporting Persons maintain a significant beneficial ownership stake, indicating continued investment interest in SCWorx Corp.

Negatives

• Beneficial Ownership Blockers (4.99% and 9.99%) prevent the Reporting Persons from fully exercising all Warrants or converting all Convertible Notes, limiting their immediate ability to increase their stake beyond the disclosed percentages.

Risks

• The Beneficial Ownership Blockers may limit the Reporting Persons' ability to exert greater influence or control over SCWorx Corp. through full conversion or exercise of their holdings.
• The value of the Warrants and Convertible Notes is subject to the future performance of SCWorx Corp.'s common stock and the company's ability to overcome the beneficial ownership blockers.

Future Outlook

The filing does not provide forward-looking statements or guidance from SCWorx Corp. management; it solely details beneficial ownership by the Reporting Persons.

Industry Context

This filing is a standard disclosure of significant beneficial ownership by an investment firm in a publicly traded company. It does not provide specific insights into broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership and potential influence, albeit limited by beneficial ownership blockers.

Key Dates

Keywords

SCWorx Corp, Iroquois Capital Management, Beneficial Ownership, Schedule 13G, Common Stock, Warrants, Convertible Notes, SEC Filing, Investment Fund, Shareholder Disclosure