SCHEDULE: Iroquois Capital Boosts SCWorx Stake to 9.99%

Iroquois Capital Management, Richard Abbe, and Kimberly Page have disclosed increased beneficial ownership in SCWorx Corp., reaching up to 9.99% of common stock, primarily through warrants and convertible notes.

Summary

• Iroquois Capital Management, LLC, Richard Abbe, and Kimberly Page have filed an Amendment No. 3 to Schedule 13G, disclosing their beneficial ownership in SCWorx Corp. Common Stock.
• As of September 30, 2025, Iroquois Capital Management, LLC and Kimberly Page each beneficially own 1,092,018 shares, representing 8.79% of the class.
• Richard Abbe beneficially owns 1,217,058 shares, representing 9.99% of the class.
• The reported beneficial ownership includes shares of Common Stock issuable upon the exercise of Warrants and/or conversion of Convertible Notes.
• These holdings are subject to 'Beneficial Ownership Blockers' which limit conversion or exercise if it would result in ownership exceeding 4.99% (for Convertible Notes and certain Warrants) or 9.99% (for certain Warrants) of the outstanding Common Stock.
• The reported percentages already give effect to these Beneficial Ownership Blockers, meaning the Reporting Persons were not able to exercise all Warrants or convert all Convertible Notes due to these limitations.
• The percentages are based on 11,653,705 shares of common stock outstanding as of September 30, 2025, as reported in SCWorx Corp.'s Form 10-Q filed on November 12, 2025.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive due to increased institutional ownership, which can be a sign of investor confidence. However, the beneficial ownership blockers introduce a limiting factor, preventing a higher score.

Positives

• Increased institutional ownership by Iroquois Capital Management, LLC and its principals, Richard Abbe and Kimberly Page, may signal confidence in SCWorx Corp.'s long-term prospects.

Negatives

• Beneficial Ownership Blockers limit the immediate ability of the Reporting Persons to fully convert their Convertible Notes and Warrants into common stock, potentially restricting their influence or liquidity.

Risks

• The Beneficial Ownership Blockers prevent the full exercise of Warrants (totaling over 28 million shares) and conversion of Convertible Notes (totaling over 428,000 shares) held by Iroquois Master Fund and ICIG, limiting the upside potential from these instruments for the Reporting Persons.
• The existence of a significant number of unexercised Warrants and unconverted Convertible Notes represents potential future dilution if these blockers are removed or adjusted, or if the company's outstanding share count increases significantly.

Future Outlook

This filing is an ownership disclosure and does not contain forward-looking statements or guidance from SCWorx Corp. or the Reporting Persons regarding the company's future performance.

Industry Context

This filing reflects a change in the ownership structure of SCWorx Corp. by a significant institutional investor group. It does not provide broader industry trends or competitive analysis.

Related Party Transactions

• Richard Abbe and Kimberly Page are directors of Iroquois Master Fund Ltd., and Mr. Abbe is the President of Iroquois Capital Management, LLC, which is the investment advisor for Iroquois Master Fund. Mr. Abbe also has sole authority for investments made on behalf of Iroquois Capital Investment Group LLC (ICIG). This establishes a clear relationship and shared control among the Reporting Persons over the disclosed holdings.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by Iroquois Capital Management and its principals could be viewed positively, potentially increasing investor confidence and market liquidity. However, the beneficial ownership blockers mean that the full conversion of warrants and notes is not immediately possible, which could impact future share dilution dynamics.

Key Dates

Keywords

SCWorx Corp, Iroquois Capital Management, Beneficial Ownership, Schedule 13G, Common Stock, Warrants, Convertible Notes, Institutional Investor, Equity Stake, SEC Filing