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Thursday, 03/24/2022 9:02:43 AM

Thursday, March 24, 2022 9:02:43 AM

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Press Release
Diamond Equity Research Releases Update Report on Medigus Ltd. (NASDAQ: MDGS)

Diamond Equity Research LLC
Thu, March 24, 2022, 7:00 AM
In this article:


NEW YORK, March 24, 2022 (GLOBE NEWSWIRE) -- Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has released an update report on Medigus Ltd. (NASDAQ: MDGS). The update report includes detailed information on the Medigus’s business model, services, industry, valuation, management, and risks.

The full update report is available here. Highlights from the report include:

Strong Momentum in EV & Micro-Mobility Segment Targeting Growing Markets

Reverse Merger on OTC Markets - Medigus recently announced details of its planned spin-off and subsequent merger of its EV wireless charging business, Charging Robotics, Inc. The company signed a non-binding letter of intent for a planned securities exchange agreement with Fuel Doctor, Inc. (OTC: FDOC), a Delaware-based corporation. The transaction will result in Charging Robotics becoming a wholly owned subsidiary of Fuel Doctor, and in exchange, Medigus will receive 80% of the issued and outstanding share capital of Fuel Doctor. Through more available access to capital via the public equity markets, Charging Robotics is likely to enjoy greater flexibility in terms of financing alternatives, and greater liquidity. We view the transaction as a positive development and in line with the articulated business strategy of Medigus.

Meaningful Progress in EV & Micro-mobility Business - Medigus has displayed strong momentum in its EV & micro-mobility segment. In less than a year, Revoltz, an EV and wireless charging joint venture designed, manufactured, presented, and received its first order for its first model "Porto," for the last mile delivery market. This order is a part of a pilot project that is to be carried out at a new fully autonomous supermarket in Israel. While additionally, the recently acquired ParaZero Ltd. ("ParaZero"), a privately held company engaged in drone technology with an innovative patented safety system for drones, received a purchase order for its ParaZero SafeAirTM system from a leading global drone manufacturer.

Valuation - We have updated our financial model adjusting for the recent reverse merger and a minority stake in ParaZero Ltd. Our valuation approach yields a per-share value of $3.79 or $90.38 million contingent on successful execution by the company. The EV and micro-mobility business accounts for a majority, 52% of the company’s total value derived, while the online technologies and healthcare segment are at 28% and 20% respectively. Given the unique high-risk-reward opportunity, we view Medigus as a suitable investment for institutional and high-risk-tolerant retail investors.
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