Odysight.ai Inc. - SCTC STOCK NEWS

ScoutCam Inc. (OTCQB: SCTC) announced that CEO Yovav Sameah will be featured on The RedChip Money Report on Bloomberg TV, airing on May 21 at 7 p.m. ET. This program focuses on small-cap investing and includes interviews with executives, providing an opportunity for ScoutCam to showcase its unique solutions in the Predictive Maintenance and Condition Based Monitoring markets. The company's innovative visualization and AI platform offers significant advantages across diverse sectors, including aviation and energy.

ScoutCam (OTCQB: SCTC) announced its Q1 2022 financial results, reporting an operating loss of $2.7 million and $19.3 million in cash and deposits as of March 31, 2022. The company increased R&D expenses to $954,000 as it expands its Camera-as-a-Sensor™ portfolio for Condition Based Monitoring (CBM) and Predictive Maintenance (PdM) markets. A new licensing agreement with Sumita Optical Glass, Inc. will enable revenue from royalties. The company is optimistic about future growth and market share in various sectors including automotive and aviation.

ScoutCam launched its updated website, enhancing user experience and showcasing its innovative condition-based monitoring and predictive maintenance solutions. The revamped site aims to reflect ScoutCam's commitment to Industry 4.0, allowing users to visualize and analyze the company's proprietary technology in various markets, including aviation and energy. CEO Yovav Sameah emphasized the strategy's focus on early fault detection to reduce downtime and maintenance costs. The website features a new resource center for industry news and insights.

ScoutCam has entered a royalty licensing agreement with Sumita Optical Glass, enabling the integration of its patented micro-visualization technology into Sumita's medical devices. This partnership positions ScoutCam to receive royalties for its small diameter video camera technology, potentially generating millions in passive revenue. Sumita, a leader in optical glass manufacturing, aims to enhance its medical device offerings following its recent expansion. ScoutCam anticipates future licensing opportunities to further bolster its market presence.

ScoutCam (OTCQB:SCTC) has partnered with a leading global defense contractor to develop a visual monitoring solution for Unmanned Aerial Vehicles (UAVs). The collaboration will integrate ScoutCam's advanced technologies, including cameras and AI capabilities, into UAV systems, enhancing condition-based monitoring and predictive maintenance in extreme environments. CEO Yovav Sameah emphasized the importance of reliable technology in defense operations, where errors can impact national security.

ScoutCam (OTCQB:SCTC) announces key leadership appointments to enhance its Industry 4.0 expansion strategy. Arik Priel joins as Chief SW Architect, bringing over 20 years of experience in R&D and AI technologies. He aims to bolster ScoutCam’s software innovations. Roee Peled becomes VP of Business Development, focusing on customer acquisition and opening new markets. Both leaders will support transitioning the company to a recurring revenue model in sectors like Aviation, Energy, and Automotive.

ScoutCam has announced a 1-for-9 reverse stock split effective August 9, 2021. This action aims to reduce the number of outstanding shares and adjust stock options accordingly. After the split, shares will trade under the symbol SCTCD for 20 business days before reverting to SCTC. The authorized shares remain at 300 million, while the number of outstanding shares will decrease proportionately. Shareholders holding physical certificates will receive instructions for exchanging their shares. The company is focused on advanced visual solutions for various industries.

ScoutCam (OTCQB:SCTC) has appointed Zeev Vurembrand to its board of directors, enhancing its leadership team. Vurembrand brings over 25 years of experience in healthcare and finance, having previously served as CEO of major health organizations in Israel. His extensive background includes board positions at several publicly traded companies and experience in audit committees. This strategic appointment aims to strengthen the board and position ScoutCam for future growth, as stated by Executive Chairman Prof. Benad Goldwasser.

ScoutCam (OTCQB:SCTC) has appointed Ms. Inbal Kreiss to its board of directors, enhancing the board's independent oversight. Ms. Kreiss, currently Head of Innovation at the Israeli Aerospace Industries, brings a strong background in Aerospace and Defense. Her expertise aims to steer ScoutCam toward maintenance and predictive technologies, pivotal in Industry 4.0. This move is expected to unlock new business opportunities, particularly in lucrative fields where ScoutCam's advanced micro-video technologies can be deployed. The board anticipates her contributions will bolster strategic guidance.