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

Medigus Ltd. (Nasdaq: MDGS) announced that its subsidiary, Charging Robotics Ltd., has filed a patent application for a new wireless charging method for electric vehicles in automatic car parks. This innovative solution addresses the inability to charge electric vehicles parked in structures where traditional plug connections are impractical. The system will enable high-efficiency charging by aligning transmitting and receiving components. CEO Liron Carmel highlighted the growing demand for accessible charging as electric vehicle use rises, indicating potential benefits for parking owners and users.

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Jeffs' Brands, has launched 16 new products for pets and home décor on Amazon ahead of the holiday season. This expansion aims to enhance their product offerings and capitalize on the busy shopping months of November and December. The products were selected through meticulous market research and technology, focusing on revenue and ROI potential. CEO Viki Hakmon emphasized the importance of responding to customer trends and expanding the brand's portfolio.

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Jeffs' Brands Ltd., which it owns 35.27%, is taking significant steps for growth. Jeffs' Brands has secured an agreement with a U.S.-based storage and logistics center near Newark and JFK Airport to enhance direct sales capabilities and launch new E-commerce platforms. This facility, with 100,000 square feet and 20 loading docks, will allow for improved inventory management and shipping. The shift towards Fulfillment by Merchant (FBM) services responds to Amazon's restrictions on Fulfillment by Amazon (FBA) and aims to empower sellers with greater control over shipping.

Medigus Ltd. (Nasdaq: MDGS) announced a 1:15 ratio change for its American Depositary Receipt (ADR) program, effective November 14, 2022. This change means each ADR will represent fifteen ordinary shares instead of one. The company aims for this adjustment to help meet Nasdaq's minimum bid price requirements after previously failing to comply. The Bank of New York Mellon will manage the exchange of old ADSs for new ones, and no fractional ADSs will be issued. This move is part of Medigus' strategy to enhance its stock performance.

Medigus Ltd. (Nasdaq: MDGS) announced a non-binding letter of intent for Jeffs' Brands Ltd. to acquire an Amazon Marketplace brand for $2.5 million. The brand specializes in nutritional supplements with an estimated $2.7 million in annual revenues in 2022 and over 22,000 positive reviews. The acquisition is pending due diligence and contract finalization. CEO Viki Hakmon emphasized the strategic importance of this acquisition for growth, highlighting plans to leverage technology and expertise to enhance brand performance.

Medigus Ltd. (Nasdaq: MDGS) announced the appointment of Yehu Ofer as CEO of ScoutCam Inc. (OTCQB: SCTC), a company in which Medigus holds a 27.02% ownership. Ofer, a former Israeli Air Force officer, brings extensive experience in aviation and aerospace industries. His leadership is expected to support ScoutCam's growth in providing AI-based visualization solutions for Predictive Maintenance and Condition Based Monitoring across various markets. The appointment signifies a strategic move to enhance ScoutCam's capabilities in Industry 4.0 sectors.

Medigus Ltd. (Nasdaq: MDGS) reported record revenues of $34.95 million for the first half of 2022, a staggering increase of over 1,300% year-over-year compared to $2.39 million in 2021. Gross profit also surged to $6.19 million, up from $0.6 million in the same period. As of June 30, 2022, cash and cash equivalents stood at $22.1 million, with shareholders’ equity rising to $53.19 million. The CEO highlighted the company's diverse business model and upcoming catalysts aimed at enhancing shareholder value.

Medigus Ltd. (Nasdaq: MDGS) announced that its affiliate, Polyrizon Ltd., in which it owns 37.03%, has submitted a PCT patent application for its innovative Capture and Contain (C&C™) platform. This platform creates a polymeric barrier that protects the body from airborne threats like allergens and viruses. Polyrizon focuses on developing intranasal products aimed at improving health safety. The announcement reflects Medigus' commitment to advancing medical solutions through innovative technology and strategic partnerships.

Medigus Ltd. (Nasdaq: MDGS) has filed a motion in the Tel Aviv District Court for approval to distribute up to $1.6 million in dividends to holders of its American Depositary Shares. This request comes after previous court restrictions hindered the company's ability to buy back shares. If approved, the dividend will be distributed proportionally to shareholders, with further announcements expected upon board approval.