Medigus Ltd. American Depositary Share Stock Price, News & Analysis

Medigus Ltd. (Nasdaq: MDGS) announced a collaboration with iFulfillYou LLC to establish logistics warehouses in the U.S. through a new company, with Jeff Brands Ltd. holding 79% ownership. Jeff Brands will invest up to $3.5 million in the venture, aiming to enhance e-commerce support for sellers using Fulfillment By Merchant (FBM) on platforms like Amazon. The partnership will also develop proprietary A.I. software for inventory and logistics management, streamlining operations for online businesses in North America.

Medigus Ltd. (Nasdaq: MDGS) announced impressive financial results for the first half of 2021, reporting revenues of $2,393,000, marking a staggering 3,178% increase from $73,000 last year. The company achieved its first net profit of $7,927,000, reversing a net loss of $3,599,000 in H1 2020. As of June 30, 2021, shareholders’ equity stood at $53,904,000, with cash and cash equivalents at $29,642,000. Furthermore, Medigus is actively pursuing strategic technology acquisitions and has initiated a $2 million share buyback program.

Medigus Ltd. (Nasdaq: MDGS) announced that its joint venture Revoltz has commenced prototype manufacturing of the Model One micro-mobility vehicle in China.

This three-wheeled vehicle is designed for last-mile and food delivery, featuring a wide platform and two loading surfaces to carry more cargo than traditional scooters. The production aims to facilitate efficient urban deliveries while keeping costs low. The prototypes will help Revoltz refine its design and seek commercial partnerships.

Medigus Ltd. (Nasdaq: MDGS) announced that its partially-owned subsidiary, Polyrizon Ltd., is set to evaluate the prophylactic effects of its innovative product against the Delta variant of coronavirus. This follows pre-clinical studies showing effectiveness against human coronavirus 229E and influenza. The new study will commence in Q4 2021, focusing on preventing infections in conjunction with existing public health measures. Additionally, Polyrizon submitted a patent application for a novel hydrogel technology aimed at capturing biological threats.

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Polyrizon Ltd., submitted a new patent application for a hydrogel technology aimed at capturing biological intrusions in the upper airways. This pre-clinical study indicates that Polyrizon's product could potentially prevent infections from coronavirus and Influenza Virus H1N1. The technology aims to protect the nasal cavity and respiratory tract, possibly decreasing viral load and enhancing immune response.

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Gix Internet, acquired a 70% stake in Cortex Group for approximately $11 million. Cortex, a media-tech company established in 2015, reported revenues of ~$12.3 million and an operating profit of $1.3 million for H1 2021. This acquisition aligns with Gix’s strategy to enhance its MarTech solutions. A credit line of up to $3.5 million and loans of ~$7 million are being secured to facilitate the purchase. This move positions Gix for potential market expansion and revenue growth.

Medigus Ltd. (Nasdaq: MDGS) announced that its 35.86% owned company, Polyrizon Ltd., presented promising pre-clinical data for its Capture and Contain (C&C™) technology. This innovative platform demonstrates the potential to significantly reduce the risk of Influenza H1N1 infections. Results indicate a dose-dependent efficacy in preventing the virus from affecting epithelial cells and protecting the nasal cavity. Polyrizon's product also showed a broad spectrum of activity against various respiratory viruses, including prior success against human coronavirus 229E.

Medigus Ltd. (Nasdaq: MDGS) announced that its 50.03% owned subsidiary, Jeffs’ Brands Ltd., has signed a non-binding Letter of Intent to acquire a private consumer products company for $6 million, with up to an additional $13.25 million based on future profitability. The target company, which sells products in major retailers like Walmart and Target, generated $8 million in revenue in 2020. This acquisition aims to expand Jeffs’ Brands' portfolio and enhance revenue growth.

Medigus Ltd. (Nasdaq: MDGS) has announced a successful proof of concept for its wireless charging robot developed by its subsidiary, Charging Robotics Ltd.. The demonstration showcased 93% charging efficiency at 1 kW, enabling the robot to autonomously align itself for optimal charging without physical contact. The company plans to advance to a commercial pilot project and enhance charging power from 1 kW to approximately 13 kW, the standard for domestic chargers. This innovation aims to provide seamless battery charging for both manned and unmanned electric vehicles.