G Medical Innovations Holdings Ltd - GMVD STOCK NEWS

G Medical Innovations Holdings Ltd. (Nasdaq: GMVD) announced it received a patent issue notification from the USPTO for its innovative vital signs monitoring system, expected to be issued on February 7, 2023. This patent enhances the versatility of monitoring systems for healthcare providers. Alongside two patents from December 2022, this development positions G Medical Innovations as a leader in the industry, potentially expanding its market share. The company's total patent portfolio now includes six granted patents and three pending with the USPTO, bolstering its competitive edge in healthcare technology.

G Medical Innovations Holdings Ltd. (NASDAQ: GMVD) announced the granting of two patents by the United States Patent and Trademark Office. These patents pertain to:

• Non-Invasive Monitoring Method: This patent enhances monitoring accuracy by integrating a sensing mechanism that reduces false positives.
• Medical Module Jacket: A design for a smartphone flip case that also serves as a medical monitoring device, allowing users to monitor vital signs conveniently.

These developments strengthen GMVD's competitive position and potential market share growth in health monitoring solutions.

G Medical Innovations Holdings Ltd. (Nasdaq: GMVD) has received a notice from Nasdaq indicating non-compliance with the minimum shareholders’ equity requirement of $2.5 million. The Company has until January 6, 2023, to submit a compliance plan. If accepted, Nasdaq may grant up to 180 additional days to demonstrate compliance. The notice does not immediately affect the Company’s listing or trading. G Medical specializes in mHealth solutions and remote monitoring, focusing on conditions like cardiovascular disease and diabetes.

G Medical Innovations Holdings Ltd. (Nasdaq: GMVD) reported its financial results for the six months ending June 30, 2022. The firm executed over 100,000 tests, anticipating $5 million in COVID-19 related invoices. Total revenues decreased to approximately $2.2 million from $2.9 million year-over-year. Cash reserves dropped to $1.5 million, down from $6 million. Research and development expenses increased to $1.2 million, while selling, general, and administrative expenses surged to $14.5 million, leading to a net loss of $13.3 million, compared to $4.8 million in the same period last year.

G Medical Innovations Holdings Ltd. (NASDAQ: GMVD) announced the launch of 31 at-home health test kits, available to consumers in Q4-2022. This includes 24 new kits alongside 7 previously introduced. Tests cover various health issues such as Monkeypox, metabolic and thyroid functions, allergies, and more. Kits will be sold online and in retail locations, priced between $50 and $260. Results are delivered within 24-48 hours after reaching certified labs. The company aims to simplify health monitoring, promoting home-based healthcare solutions.

G Medical Innovations Holdings Ltd. (NASDAQ: GMVD) announced the launch of seven at-home health testing kits covering food sensitivity, allergies, thyroid function, testosterone levels, HbA1C, and HPV. Set for release in Q3-2022, these kits will be available online and at major retailers, with prices ranging from $50 to $260 and results provided within days via CLIA-certified labs. The tests utilize FDA-registered components and allow consumers to conduct tests easily without painful blood draws. The company expects to expand its offerings and serve millions of Americans.

G Medical Innovations Holdings Ltd. (Nasdaq: GMVD) has received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement, which mandates a price of at least $1.00 per share. The company has a grace period of 180 days until December 13, 2022 to regain compliance. If the share price meets the requirement for ten consecutive business days, the issue will be resolved. Failure to comply may lead to delisting. The notice does not affect current trading on the Nasdaq Capital Market.

G Medical Innovations Holdings Ltd. (NASDAQ: GMVD) has announced a $1 million share repurchase program aimed at enhancing shareholder value. The Company plans to execute the buyback depending on market conditions and will comply with SEC regulations. As of May 17, 2022, GMVD held approximately $3 million in cash and $6 million in account receivables, with 24,386,680 ordinary shares outstanding. The program is flexible and may be suspended or terminated at management's discretion.

G Medical Innovations Holdings Ltd. (NASDAQ: GMVD) announced a definitive agreement with a healthcare-focused institutional investor for a private placement of 5 million ordinary shares at $1.50 each, generating gross proceeds of $7.5 million. The placement includes warrants for an additional 6.25 million shares. Proceeds will be utilized for debt repayment and working capital. The placement is expected to close by April 20, 2022, subject to conditions.

In addition, existing warrants issued in February 2022 will have their exercise price reduced to $1.50.