Today techs Medigus Declares File 2022 First Half Monetary Outcomes

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TEL AVIV, Israel, Sept. 23, 2022 (GLOBE NEWSWIRE) — Medigus Ltd. (Nasdaq: MDGS) (“Medigus”), a know-how firm engaged in superior medical options, modern web applied sciences and electrical automobile and charging options, in the present day reported monetary outcomes for the six months ended June 30, 2022.

Key Highlights

  • Generated document revenues of $34.95 million within the first half of 2022, in comparison with $2.39 million revenues within the first half of 2021
  • Gross revenue reached a document $6.19 million within the first half of 2022, up from a gross revenue of $0.6 million within the first half of 2021
  • Money and money equivalents as of June 30, 2022 had been $22.1 million
  • Shareholders’ fairness improved to $53.19 million as of June 30, 2022, up from $51.43 million at December 31, 2021

“Our document first half of 2022 monetary outcomes are a direct results of our work over the previous two years and clearly reveal the worth in our strategy to interact in modern know-how firms with excessive upside potential,” mentioned Liron Carmel, CEO of Medigus. “As we proceed to execute on our diversified enterprise mannequin and add worth to our working segments, we imagine Medigus is in an amazing place to additional develop shareholder worth with a number of near-term catalysts.”

Latest Highlights:

  • Medigus information a movement to approve an as much as $1.6 million dividend distribution
  • Jeffs’ Manufacturers (35.27%) Ltd. introduced the closing of its $15.5 million preliminary public providing
  • Gix Web (42.25%) reported revenues improve of 166% year-over-year to roughly $43.4 million within the first half of 2022

H1 2022 Highlights:

  • Eventer, wherein Medigus has a 46.21% possession stake, achieved document revenues, which elevated by 221% year-over-year to roughly $1.4 million within the first half of 2022. Eventer targets the excessive potential sports activities occasions market, and because the starting of 2022 has entered into agreements with two groups from the Israeli Basketball Premier League and the Israeli Nationwide Basketball League and the Israel Gymnastics Federation and the Desk Tennis Associations of Israel.
  • ParaZero, wherein Medigus has a 40.35% possession stake, signed a non-binding MOU to supply Autonomous Security Methods for Bon V Heavy Carry Cargo Drones. As well as, a number one international drone producer ordered custom-made SafeAirTM system from ParaZero and signed an settlement to develop customized security answer for a number one international automotive producer’s drone program.
  • ScoutCam, wherein Medigus has a 27.02% possession stake, accomplished verification & validation for miniature digicam answer with a Fortune 500 buyer. ScoutCam additionally signed a joint improvement settlement to equip aerial platforms of a high international protection and aviation producer with in-flight monitoring options.
  • Polyrizon’s PL-15 discovered efficient in opposition to extremely transmissible SARS-CoV-2 Omicron variant in cell tradition assays. Medigus has a 37.03% possession stake in Polyrizon.
  • Medigus introduced particulars of deliberate spin-off and subsequent merger of its electrical automobiles wi-fi charging enterprise, Charging Robotics. Initially of 2022, Charging Robotics, owned by Medigus, and Ben-Gurion College entered the event of the subsequent era of wi-fi charging system for electrical automobiles
  • Medigus’ three way partnership, Revoltz (19.9% owned by Medigus by way of its wholly owned subsidiary, Charging Robotics Ltd.), obtained first order for micro mobility automobiles from a worldwide distributor. Revoltz additionally launched a pilot program at a brand new autonomous grocery store.

About Medigus

Based mostly in Israel, Medigus Ltd. (Nasdaq: MDGS) is a applied sciences firm that’s targeted on modern progress partnerships, primarily in superior medical options, digital commerce, and electrical automobile markets. Medigus’ affiliations within the medical options area embrace the possession in Polyrizon Ltd. The Firm’s associates in digital commerce embrace Gix Web Ltd. (TASE: GIX), Jeffs’ Manufacturers and Eventer Applied sciences Ltd. Within the electrical automobile market, Charging Robotics, Ltd. and Revoltz are additionally a part of the Firm’s portfolio of know-how answer suppliers. Different affiliations of the Firm embrace ScoutCam Inc. (OTCQB: SCTC). Parazero TechnologiesLtd. , Laminera Stream Optimization Ltd. Medigus is traded on the Nasdaq Capital Market. To be taught extra about Medigus’ superior applied sciences, please go to http://www.medigus.com/investor-relations.

Ahead-Wanting Statements

This press launch accommodates forward-looking statements throughout the which means of the “secure harbor” provisions of the Personal Securities Litigation Reform Act of 1995 and different Federal securities legal guidelines. Phrases reminiscent of “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and related expressions or variations of such phrases are meant to establish forward-looking statements. As a result of such statements cope with future occasions and are based mostly on Medigus’ present expectations, they’re topic to varied dangers and uncertainties, and precise outcomes, efficiency or achievements of Medigus may differ materially from these described in or implied by the statements on this press launch. For instance, Medigus makes use of ahead trying statements when describing its plans to extend its possession in Gix and consolidate its and when describing potential prompts and restructures in reference to different investments.

The forward-looking statements contained or implied on this press launch are topic to different dangers and uncertainties, together with these mentioned in any filings with the SEC. Besides as in any other case required by legislation, Medigus undertakes no obligation to publicly launch any revisions to those forward-looking statements to replicate occasions or circumstances after the date hereof or to replicate the prevalence of unanticipated occasions. References and hyperlinks to web sites have been offered as a comfort, and the data contained on such web sites will not be integrated by reference into this press launch. Medigus will not be liable for the contents of third-party web sites.

Investor Relations Contact:
Dave Gentry
RedChip Firms Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
MDGS@redchip.com

 
MEDIGUS LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
           
  June 30     December 31  
  2022     2021  
  Unaudited     Audited  
  USD in hundreds  
Property          
CURRENT ASSETS:          
Money and money equivalents   22,141       24,025  
Pledged deposit   219        
Commerce accounts receivable   16,562       408  
Different receivables and pay as you go bills   1,863       415  
Stock   1,831       1,227  
Mortgage to an affiliate         1,265  
Associated get together pay as you go bills   728       999  
Monetary property at truthful worth by way of revenue or loss   2,614       3,315  
    45,958       31,654  
               
NON-CURRENT ASSETS:              
Property and gear, web   407       77  
Proper-of-use property, web   667        
Investments accounted for utilizing the fairness technique   13,407       17,240  
Intangible property   29,376       8,321  
Deferred providing prices   863       836  
Deferred tax asset   119        
Monetary property at truthful worth by way of revenue or loss   3,517       1,602  
    48,356       28,076  
               
TOTAL ASSETS   94,314       59,730  
               
 
MEDIGUS LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
           
  June 30     December 31  
  2022     2021  
  Unaudited     Audited  
  USD in hundreds  
Liabilities and fairness          
CURRENT LIABILITIES:          
Commerce accounts payable   10,450       702  
Brief time period loans   9,248       816  
Brief time period associated get together mortgage   56       111  
Present portion of long-term associated get together payable   520       506  
Lease liabilities   158        
Warrants at truthful worth   854       692  
Contract legal responsibility   108       108  
Legal responsibility to occasion producers   2,385       1,556  
Associated events   474       616  
Accrued bills and different present liabilities   8,924       1,532  
    33,177       6,639  
NON-CURRENT LIABILITIES:              
Lease liabilities   536        
Lengthy-term loans   4,083        
Loans from associated events   479       689  
Lengthy-term associated get together payable   580       711  
Deferred tax legal responsibility   2,105       236  
Retirement profit obligation, web   165       22  
    7,948       1,658  
TOTAL LIABILITIES   41,125       8,297  
               
SHAREHOLDERS’ EQUITY:              
Share capital – bizarre shares with no par worth: licensed – June 30, 2022 and December 31, 2021 – 200,000,000 shares; issued and excellent – June 30, 2022 – 24,591,470 shares December 31, 2021 – 23,850,128 shares *          
Share premium   111,322       110,562  
Different capital reserves   11,401       12,619  
Warrants   197       197  
Accrued deficit   (77,778 )     (74,188 )
Fairness attributable to homeowners of Medigus Ltd.   45,142       49,190  
Non-controlling pursuits   8,047       2,243  
TOTAL SHAREHOLDERS’ EQUITY   53,189       51,433  
               
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   94,314       59,730  
*   Restated to replicate the reverse cut up at a ratio of 20:1 occurred on July 8, 2022 – see additionally be aware 8 to our Interim Condensed Consolidated Monetary Statements (unaudited) as of June 30, 2022.
     
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MEDIGUS LTD.
INTERIM CONSOLIDATED STATEMENTS OF INCOME/LOSS AND OTHER COMPREHENSIVE INCOME/LOSS
           
  Six months ended     12 months ended  
  June 30,     December 31  
  2022     2021     2021  
today techs center ; vertical-align: middle; vertical-align: bottom ; “>  Unaudited     Audited  
  USD in hundreds  
Revenues:                
Merchandise   2,343       1,934       8,933  
Income from providers   32,616       459       1,185  
    34,959       2,393       10,118  
Price of revenues:                      
Merchandise   1,933       1,587       4,938  
Income from providers   26,834       202       379  
    28,767   today techs bottom ; “>    1,789       5,317  
                       
Gross Revenue   6,192       604       4,801  
Analysis and improvement bills   2,047       755       1,045  
Gross sales and advertising bills   2,112       624       1,988  
Normal and administrative bills   5,638       4,417       9,964  
Internet change in truthful worth of monetary property at truthful worth by way of revenue or loss   813       (583 )     (713 )
Share of web lack of associates accounted for utilizing the fairness technique   1,910       419       2,149  
Amortization of extra buy value of an affiliate               263  
Working loss   (6,328 )     (5,028 )     (9,895 )
                       
Achieve upon lack of management in a subsidiary         (11,502 )     today techs “>11,465 )
Achieve from preliminary recognition of property and liabilities upon management obtained in an affiliate   (2,300 )            
Achieve from sale of investments   (68 )     (2,025 )     2,025 )
Different revenue   (176 )     (299 )     494 )
Modifications in truthful worth of warrants issued to traders   99       474       (484 )
Modifications in truthful worth of dedication to subject shares   63             75  
Monetary loss, web   793       403       347  
Revenue (Loss) earlier than taxes on revenue   (4,739 )     7,921       4,151  
Tax profit (expense)   (9 )     6       (105 )
Internet revenue (loss) for the interval   (4,748 )     7,927       4,046  
Different complete revenue (loss)                      
Objects which may be reclassified to revenue or loss                      
Share of different complete revenue (loss) of associates accounted for utilizing the fairness technique   (125 )     (104 )     191  
Share of different complete lack of forex translation of subsidiaries   (836 )            
Objects that won’t be reclassified to revenue or loss                      
Share of different complete revenue (loss)  of associates accounted for utilizing the fairness technique         37       (29 )
Different complete revenue (loss) for the interval   (961 )     (67 )     162  
Complete complete revenue (loss) for the interval   (5,709 )     7,860       4,208  
                       
Internet revenue (loss) for the interval is attributable to:                      
Homeowners of Medigus   (3,590 )     9,785       6,794  
Non-controlling curiosity   (1,158 )     (1,858 )     (2,748 )
    (4,748 )     7,927       4,046  
                       
Complete complete revenue (loss) for the interval is attributable to:                      
Homeowners of Medigus   (4,275 )     9,746       6,881  
Non-controlling curiosity   (1,434 )     today techs ; vertical-align: middle; vertical-align: bottom ; “>(1,886 )     (2,673 )
    (5,709 )     7,860       4,208  
Incomes (Loss) per bizarre share attributed to Medigus ltd                      
Primary   (0.15 )     0.02       0.01  
Diluted   (0.15 )     0.04       0.01  
Weighted common bizarre shares excellent (In hundreds)                      
Primary   24,109       *22,212       *23,035  
Diluted   24,109     *22,212       *23,035  
*   Restated to replicate the reverse cut up at a ratio of 20:1 occurred effected on July 8, 2022 – see additionally be aware 8 to our Interim Condensed Consolidated Monetary Statements (unaudited) as of June 30, 2022.

 

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