Medigus Ltd. American Depositary Share - MDGS STOCK NEWS

Medigus Ltd. (Nasdaq: MDGS) announced a Joint Development Agreement (JDA) through its 27%-owned subsidiary, ScoutCam Inc. (OTCQB: SCTC), with a prominent defense and aviation company. The agreement focuses on utilizing ScoutCam's visualization technology for in-flight monitoring and optimizing visual inspections of aerial vehicles. This multi-year partnership ensures a future supply of ScoutCam’s solutions, integrating advanced AI and visualization for Condition Based Monitoring and Predictive Maintenance in aviation.

Medigus Ltd. (Nasdaq: MDGS) has received a notification from Nasdaq's Listing Qualifications Department indicating that its American Depositary Shares (ADSs) have closed below the minimum bid price of $1.00 for the past 30 consecutive business days. The company has 180 calendar days, until December 13, 2022, to regain compliance with this rule. Options for compliance include a potential reverse stock split. Medigus will monitor the ADS price and consider options to ensure continued listing.

Medigus Ltd. (Nasdaq: MDGS) announced that its 27.02%-owned subsidiary, ScoutCam Inc. (OTCQB: SCTC), has successfully completed the verification and validation (V&V) stage of its miniature camera solution for a Fortune 500 company. This milestone marks the readiness for mass production and potential sales revenue reaching tens of millions of dollars through ongoing supply agreements. Medigus focuses on innovative medical solutions, digital commerce, and electric vehicle technologies, prepared for growth in these sectors.

Medigus Ltd. (Nasdaq: MDGS) reported a record revenue of $10.1 million for fiscal year 2021, marking an increase of 1,805% from $0.5 million in 2020. The company achieved a net income of $4 million, a significant turnaround from a $6.9 million net loss in the prior year. Cash and cash equivalents rose to $24 million at year-end 2021. Shareholders' equity surged 114% to $49 million. Medigus plans to consolidate financial results from Gix Internet, which reported $45 million in revenue for 2021, further enhancing growth potential.

Medigus Ltd. (Nasdaq: MDGS) announced a partnership between its 40% owned ParaZero Ltd. and a global automotive manufacturer to develop a custom safety solution for drones. This agreement involves integrating ParaZero’s SafeAir™ safety system into the manufacturer’s drone program from the design phase. ParaZero has successfully provided safety solutions across various drone platforms and holds ASTM F3322-18 compliant parachute recovery systems, ensuring compliance and reliability for advanced drone operations.

Medigus Ltd. (MDGS) announced a strategic investment of $300,000 in ABI Energy Ltd., representing approximately 19.17% ownership. This investment is part of a $1.4 million funding round aimed at enhancing fluid transportation technology to optimize the global water, oil, and gas infrastructure. ABI, set to be rebranded as Laminera, utilizes innovative technology to reduce pump energy consumption by up to 25% while improving flow capacity. Medigus will also issue $400,000 worth of its American Depositary Shares to ABI, further solidifying its position in this emerging market.

Medigus Ltd. (Nasdaq: MDGS) announces Polyrizon Ltd.'s pre-clinical data indicating its PL-15 product candidate effectively reduces infection rates of the Omicron variant BA.1 in cell culture assays. PL-15 demonstrated substantial protective effects against SARS-CoV-2, validated by viral load quantification and cell mortality methods. These findings support the potential of Polyrizon's C&C™ technology as a preventative solution for various respiratory viruses, building on previous successes with Influenza H1N1 and Human coronavirus 229E.

Medigus Ltd. (Nasdaq: MDGS) announces a significant advancement in drone technology through its 40% ownership in ParaZero Ltd. The FAA has published final airworthiness criteria, allowing leading drone manufacturer Airobotics to progress toward type certification of its automated drone system. This certification marks a major milestone as it establishes the first regulatory pathway for commercial drones in the USA. ParaZero's patented safety system, including a smart parachute that activates autonomously in emergencies, enhances safety and reliability for urban drone operations.

Medigus Ltd. (Nasdaq: MDGS) plans to consolidate the financial results of its affiliate Gix Internet for 2022. Gix reported a 19% revenue increase in 2021, reaching $45.2 million, attributed to its acquisition of Cortex Media. However, Gix faced an operating loss of $0.8 million and a net loss of $1.5 million for the year. Despite this, cash and cash equivalents rose by 38% to $5.4 million, with shareholders' equity increasing over 21%. Medigus expects Gix's performance to positively impact its revenues and balance sheet.