What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2025-03-31 compared with 2024-09-24 · 18 added, 53 removed, 271 unchanged (21% of the section changed)

13 unchanged sentences

on August 17, 2018, SCW Acquisition changed its name to SCWorx Corp.

On November 30, 2018, the Company and certain of its stockholders

agreed to cancel 6,510 shares of common stock.

In June 2018, the Company began to collect subscriptions for common stock.

November 2018, the Company collected $1,250,000 in subscriptions and issued 3,125 shares of common stock to new third-party investors.

In addition, on February 1, 2019, (i) SCWorx Corp.

In June 2018, the Company began to collect subscriptions for common

From June to November 2018, the Company collected $1,250,000 in subscriptions and issued 3,125 shares of common stock to new third-party

On November 30, 2018, the Company and certain of its stockholders agreed to cancel 6,510 shares of common stock.

on February 1, 2019, (i) SCWorx Corp.

(f/k/a SCWorx Acquisition Corp.) changed its name to SCW FL Corp.

(to allow Alliance

to change its name to SCWorx Corp.) and (ii) Alliance acquired SCWorx Corp.

(n/k/a SCW FL Corp.) in a stock-for-stock exchange transaction

and changed Alliance’s name to SCWorx Corp., which is the Company’s current name, with SCW FL Corp.

becoming the Company’s

On March 16, 2020, in response to the COVID-19 pandemic, SCWorx established a wholly-owned subsidiary, Direct-Worx, LLC to

endeavor to source and provide critical, difficult-to-find items for the healthcare industry which it has since ceased.

On October 6, 2023, following

stockholder approval at the Company’s annual meeting, the Company amended its certificate of incorporation to implement a 1 for

15 reverse split of its common stock.

The effect of the reverse stock split was to combine every 15 shares of outstanding common stock

into one share of common stock.

The reverse stock split was effective at the opening of the trading day on October 11, 2023.

The effects of the reverse

stock split have been reflected in this Annual Report on Form 10-K for all periods presented.

Our principal executive offices

are located at 100 S Ashley Dr, Suite 100 Tampa, FL 33602.

Our telephone number is (844) 472-9679.

(to allow Alliance to change its

name to SCWorx Corp.) and (ii) Alliance acquired SCWorx Corp.

(n/k/a SCW FL Corp.) in a stock-for-stock exchange transaction and changed

Alliance’s name to SCWorx Corp., which is the Company’s current name, with SCW FL Corp.

becoming the Company’s subsidiary.

We are a Delaware corporation.

Our principal executive offices are located at 100 S Ashley Dr, Suite 100 Tampa, FL 33602.

Our phone number is (844) 472-9679 and our

website can be found at www.scworx.com.

In this Annual Report, the

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The data warehouse is updated as frequently as every five minutes without intervention.

ScanWorx — Our mobile perioperative closed loop scanning solution is driven by the SCWorx foundational data structure, and utilizes interoperable data exchanges to push and secure the customer’s enriched item master, all built around the customer’s internal business rules and chart of account requirements offering the following:

Cloud hosted mobile scanning solution, which automates the consumption of known and unknown implant device utilization during surgical procedures via intuitive Scanning or smart searching features.

All scanned device utilization will capture all available attributes, such as Global Trade Item Number, Lot, Serial numbers, expiration dates.

ScanWorx will establish the following connections with existing Enterprise Resource Planning (“ERP”) and Electronic Medical Record (“EMR”) enterprise systems for the following:

EMR — Daily scheduling feeds with case information

ERP — Bill-Only electronic purchase orders

EMR — Case closure with device utilization integration

ScanWorx has the ability to consume additional product utilization per case when provided by the EMR for surgical preference cards, central sterile processing products, and anesthesia gas.

ScanWorx will identify and automate the Item-Add process for unknown items introduced during surgical procedures based on customer’s existing business rules.

SCWorx continues to provide

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partnerships.

Impact of the COVID-19 Pandemic

The Company’s operations

and business have experienced disruption due to the unprecedented conditions surrounding the COVID-19 pandemic which spread throughout

the United States and the world.

The outbreak adversely impacted new customer acquisition.

The Company has followed the recommendations

of local health authorities to minimize exposure risk for its team members since the outbreak.

In addition, the Company’s

customers (hospitals) also experienced extraordinary disruptions to their businesses and supply chains, while experiencing unprecedented

demand for health care services related to COVID-19.

As a result of these extraordinary disruptions to the Company’s customers’

business, the Company’s customers were focused on meeting the nation’s health care needs in response to the COVID-19 pandemic.

Thus, the Company believes that its customers were not able to focus resources on expanding the utilization of the Company’s services,

which has adversely impacted the Company’s growth prospects, at least until the adverse effects of the pandemic subside.

the financial impact of COVID-19 on the Company’s hospital customers could cause the hospitals to delay payments due to the Company

for services, which could negatively impact the Company’s cash flows.

Clients and Strategic Partners

4 unchanged sentences

SCWorx provides these solutions through a combination of direct sales and relationships with strategic partners.

SCWorx competes against a

variety of vendors and smaller companies which provide solutions in the specific markets we address.

SCWorx competes against a variety

of vendors and smaller companies which provide solutions in the specific markets we address.

Our principal competitors include:

34 unchanged sentences

fees, with an initial term of typically three to five years.

The license, maintenance and support fee is charged annually in advance,

The license, maintenance and support fees are charged annually in advance,

commencing either upon contract execution or deployment of the solution in live production.

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recovery, backup, etc.

Circumstances outside our

control could pose a threat to our intellectual property rights.

Circumstances outside our control

could pose a threat to our intellectual property rights.

For example, effective intellectual property protection may not be available

31 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business