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Medigus Ltd. Issues CEO Letter to its Shareholders

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OMER, Israel, June 14, 2021 (GLOBE NEWSWIRE) — Medigus Ltd. (Nasdaq: MDGS), a technology company engaged in advanced medical solutions and innovative internet technologies, today released a letter to its shareholders from its Chief Executive Officer, Mr. Liron Carmel.

Dear Shareholder,

Medigus’ mission has always been the advancement of innovative technologies, however beginning two years ago we initiated an in-depth review of the Company, and after a thorough review of our successes, failures, strengths and weakness, as well as a critical look at our product portfolio, we made some important discoveries.

We discovered that our abilities to navigate the path from proven concept to commercialization is where we may provide real value to our partners.

We also recognized that partnering with later stage companies is an inefficient use of our resources. Therefore, going forward, we will seek to grow opportunities with shorter timeline horizons, and once the defined objectives have been achieved, we will seek a strategic partner to help us take them to the next stage, or spin the business off as a separate entity.

Finally, while we remain technology oriented, we have broadened our market focus to include sectors that have shorter go-to-market pathways. We believe that our diversified activities have attracted a broader investor pool, and with greater access to capital, we are able to pursue additional opportunities, potentially accelerating our growth.
I believe this new model represents the sweet spot for our skill set and allows us to generate the greatest value for our stakeholders. It enables us to handle several projects at once rather than committing all our assets to single, larger scale projects. It also provides us with greater flexibility in allocating capital, and the ability to act quickly on time sensitive opportunities.

Since implementing these changes, we have pursued several opportunities that we believe will result in significant return to our shareholders. Consistent with our revised strategy, the work we have done with ScoutCam and Muse™ is as follows:

ScoutCam

Leveraging successful projects in the aerospace (NASA), nuclear (Westinghhouse) and automotive (Rolls Royce) sectors, Scoutcam is working to establish a dedicated industrial salesforce. To facilitate the shift to broad scale commercialization, we established ScoutCam Ltd., a private Israeli subsidiary, and executed a stock exchange and transferred the related technology and activity to ScoutCam Inc. (OTCQB: SCTC), an entity in which we own approximately 28.06% today. As of today, ScoutCam Inc. is traded at a market value of approximately $66 million.

The MUSE System

We continue to seek opportunities to sell or license the MUSE™ technology to parties with dedicated marketing capabilities, as we already accomplished with the 2019 licensing and sale agreement with Golden Grand in greater China in consideration for $3 million, subject to certain milestones.

Current Activities

We continued our interest in the medical segment under the new strategy as well as other tech-heavy sectors, including ecommerce, digital marketing, and e-transportation. Each of these segments have proven business models within preliminary markets, and we will continue to help management prepare for large scale commercialization. The following is an overview of our activities and our expectations going forward; for more detail on any of these projects, please visit our website where you can also view all press releases and our filings with the U.S. Securities and Exchange Commission.

Medical

Polyrizon Ltd. develops highly differentiated biological gels that protect patients against biological threats and external pathogens. We intend to pursue a pre-clinical trial to examine its bio-gel efficacy to protect against coronavirus infection. As of today, we hold approximately 33.24% of Polyrizon’s share capital.

E-Commerce

Gix Internet Ltd. (TASE: GIX), and its subsidiary, Linkury Ltd., develops proprietary software solutions that automate, optimize and monetize online campaigns for the internet. Linkury is expanding its focus to include products for mobile applications, advertising and digital media. We currently hold approximately 24.99% of Gix’s shares and 4.04% of its subsidiary, Linkury Ltd. As of today, Gix’s market capitalization is approximately $17 million. Recently Gix announced that its subsidiary, Linkury Ltd., entered into a Non-binding MOU related to the acquisition of a leading company in the field of online advertising, which owns a leading content brand in various fields that receives millions of daily exposures.

Eventer Technologies Ltd. created and operates an online event management plugin and ticketing platform for the creation, management, promotion, ticketing and billing of live and online events. Eventer’s systems offer and enable advanced, user-friendly solutions for online events such as online concerts, enterprise events and online conferences, in addition to management and ticket sales for events carried out in offline venues. In addition, Eventer’s platform provides individuals with the ability to create and sell tickets to custom small-scale private or public events. In February 2021, Eventer signed a commercial licensing agreement with the virtual entertainment and event technology company, Screenz Cross Media Ltd. Eventer is primarily working with customers in Israel, and we aim to expand Eventer’s presence in the U.S. as well. Recently, Eventer filed its first public prospectus draft for the initial public offering (IPO) of its shares on the Tel Aviv Stock Exchange (TASE). We currently own approximately 47.69% of Eventer shares and, based on Eventer’s valuation at its prior private placement closed in April 2021, our shares were valued at approximately $6 million.

Jeff’s Brands Ltd., and its subsidiaries Smart Repair Pro, Purex and Top Rank, leverage proprietary artificial intelligence (AI) and machine learning to analyze sales data and patterns within the multi-billion dollar Amazon marketplace to identify stores, niches and products with demonstrated growth potential to maximize sales within their Fulfillment By Amazon (FBA) shops. Smart Repair was recently approved for operation in Germany and expects approval in the UK, France, Spain, Italy and Australia in short order. To date, we invested approximately $5.4 million in Jeff’s Brands and hold 50.1% of its shares. During the first quarter of 2021, Jeff’s Brands have purchased the assets of a leading fitness toys brand in its category on the Amazon Marketplace and two additional brands operating on Amazon Marketplace, in a total amount of $4.7 million.

E-Vehicles

Charging Robotics Ltd. is a wholly-owned subsidiary of Medigus, incorporated to develop and commercialize on-demand autonomous charging system to be used anywhere, anytime. The wireless charging system being developed is intended to have self-aligning capabilities to electric vehicle battery chargers. The autonomous Wireless Power Transfer (WPT) technology, once developed, is intended to seamlessly and efficiently charge the vehicle upon demand, it will carry the Wireless Power Transfer from a charging station or charging truck, to a customer’s vehicle that needs electric charging. Charging Robotics owns IP and know-how including a provisional patent for a robotic charging pad for wireless charging of electric vehicles.

In March 2021, Charging Robotics signed a non-binding MOU with Global Automax Ltd., an Israeli vehicle importer for an exclusive distribution in Israel and Greece. Global Automax will market the wireless robotic charging pad for electric vehicles, once developed by Charging Robotics as an exclusive distributor in Israel and Greece. In addition, Charging Robotics completed a first technological milestone in the proof of concept of its autonomous robotic charging pad for wireless charging of electric vehicles.

Revoltz, a joint venture incorporated by Charging Robotics and other partners, was created to develop and commercialize three micro mobility electric vehicles for urban individual use and “last mile” cargo delivery.

Looking Ahead

We believe that our approach will change the measure of our success in the near term, from the traditional fundamental review to the intrinsic value of our activities. We believe our actions will improve the value of our existing activities, and I am confident that this trend will continue as we continue to build and grow our Company.

I hope that I have conveyed what I believe is the Company’s considerable potential. I believe that Medigus is well positioned to generate real growth for you, our shareholders, as well as our business partners. We have a highly experienced management team and activity in over 9 businesses of which 3 are currently public companies traded on the TASE and the OTC Market. We also have over 18 patents registered in our portfolio around the world, approximately $27 million in cash on our balance sheet as of today, and no debt other than commitments of the ordinary course of business.

We appreciate your continued support through this journey and look forward to sharing more good news with you in the future.

Sincerely yours,

Liron Carmel

Cautionary Note Regarding Forward Looking Statements

This letter may contain statements that are “Forward-Looking Statements,” which are based upon the current estimates, assumptions and expectations of Medigus’ management and its knowledge of the relevant market. The company has tried, where possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words. For example, Medigus is using forward looking statements when it discusses its future growth strategy and the expected benefits of such strategy for the Company and its stakeholders, the future planned activities of our subsidiaries, the belief that its actions will improve the value of our existing activities and the belief that it has considerable potential and that it is positioned to generate real growth. These forward-looking statements represent Medigus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results to differ significantly from the content and implications of such statements. Other risk factors affecting Medigus are discussed in detail in Medigus’ filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and Medigus undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither Medigus nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of Medigus’ securities. Nothing in this letter should be deemed to be medical or other advice of any kind.

Investor Contact:

Tali Dinar
Chief Financial Officer
+972-8-6466-880
[email protected]

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Artificial Intelligence

TASJEEL.AE UNVEILS INNOVATIVE AI-POWERED DOMAIN SEARCH IN PARTNERSHIP WITH TELECOMMUNICATIONS AND DIGITAL GOVERNMENT REGULATORY AUTHORITY

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DUBAI, UAE, April 16, 2024 /PRNewswire/ — Tasjeel.ae  announces the launch of its groundbreaking AI-powered domain search, a revolutionary tool designed to simplify and streamline the domain registration process for businesses looking to register .ae domains.

In collaboration with the Telecommunications and Digital Government Regulatory Authority (TDRA), Tasjeel.ae leverages AI technology to offer a unique solution for finding and securing domain names. The AI-powered tool is set to transform the way businesses discover and register their online identities.
Key features of Tasjeel.ae’s AI-Powered Domain Search include:
Description-Based Domain Results: This tool enables users to input a description of their business, the AI-powered domain search tools then rapidly sift through vast databases of available .ae domain names, saving time and effort.
Solution for Brand Naming Challenges: Facing difficulties in finding a unique brand name or discovering that your brand name is already taken on other domain extensions? Tasjeel.ae’s AI-powered domain search is the solution to your naming woes.
Direct .ae Version Registration: This feature is especially useful for instances when .com domain names are already taken. With Tasjeel.ae’s solution, users can secure the available .ae versions of their brand names directly, establishing a unique online presence.”
Wahid Abdulaziz, CEO of Tasjeel.ae, commented on the launch, stating, “We are delighted to introduce this innovative AI-powered domain search, which is a testament to our commitment to providing cutting-edge solutions for our clients. With the support of TDRA, we are confident that this tool will redefine the domain registration experience, offering convenience and efficiency”.
Abdul Rahman Al Marzouqi, Director, Policies and Programs Department, TDRA, expressed enthusiasm for the partnership, saying, “Collaborating with Tasjeel.ae on this project aligns with our mission to employ advanced technologies, particularly generative artificial intelligence, to enhance customers’ experiences. This partnership enables us to provide customers with quick and easy access to customized and accurate information.” Tasjeel.ae invites businesses and individuals to explore the future of domain registration with its AI-powered solution, positioning them for success in the digital landscape. The tool is available via www.tasjeel.ae/ai-domain-search
For media queries, please contact on:
[email protected].
About Tasjeel.ae
Established in 2009, Tasjeel.ae stands at the forefront as a premier provider of domain registration and digital services. Our mission revolves around delivering innovative solutions tailored for both businesses and individuals striving for a robust online presence. We prioritize user-friendly experiences and leverage cutting-edge technology to ensure a seamless journey in securing your online identity. As the largest privately owned .ae domain registrar in the industry, Tasjeel.ae is committed to delivering unparalleled customer satisfaction, making your experience smooth and hassle-free.
About TDRA:
The Telecommunications and Digital Government Regulatory Authority (TDRA) undertakes the task of supervising the telecommunications and digital government sectors in the UAE in accordance with the Telecommunications Law issued by Federal law by Decree No. (3) of 2003 and its amendments, and in accordance with Decree No. 23 issued on September 27, 2020, amending some provisions of Federal Law by Decree No. (3) of 2003 regarding the regulation of the telecommunication sector, and adding the “digital government” to the functions and name of the authority.
TDRA’s regulatory role is to ensure the provision of distinguished telecommunications services, develop the telecommunications sector, ensure the interests of the parties, apply the relevant policy and regulatory frameworks, develop human resources, and encourage research and development, to ensure the UAE’s leading regional and global position in the telecommunications sector.
In the field of enabling digital transformation, TDRA is responsible for supervising the federal digital government under Law No. 3 of 2011. Since then, TDRA has become responsible for digital transformation at the national level through two strategic goals: enhancing the smart lifestyle, and Leadership in smart technological infrastructure in the UAE.
 
 

View original content:https://www.prnewswire.co.uk/news-releases/tasjeelae-unveils-innovative-ai-powered-domain-search-in-partnership-with-telecommunications-and-digital-government-regulatory-authority-302116514.html

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IDTechEx Discusses Membrane Materials for PEM Fuel Cells in the Post-PFAS World

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BOSTON, April 16, 2024 /PRNewswire/ — Membrane materials are of fundamental importance for fuel cells, even giving their name to the specific type of fuel cell, as is the case for Proton Exchange Membrane (PEM) fuel cells. Typically, these membranes consist of ionomers containing perfluoroalkyl substances (PFAS), which in turn are subject to increasing concern and proposed regulations. In response to this, alternative materials for membranes are beginning to emerge.

 
The IDTechEx report on the topic, “Materials for PEM Fuel Cells 2024-2034: Technologies, Markets, Players”, gives a detailed technical overview of membranes and other key components for PEM fuel cells and predicts the beginning of a transition away from PFAS membranes to alternatives within the next three to five years. The report also assesses the major players and provides granular 10-year market forecasts for key fuel cell components and materials in terms of both units and volume.
PEMs carry out a key role in the fuel cell; transporting protons across the cell while keeping the two fuels (oxygen and hydrogen) separated. The IDTechEx report extensively benchmarks the market leader against competing ionomer materials for three of the most crucial parameters for PEMs: electrical resistance, ion exchange capacity (IEC), and membrane thickness.
Although the membrane must be ionically conductive with respect to transporting protons, it is of crucial importance that the material is electrically insulating to avoid short-circuiting the cell. Rapid proton transport across the cell is enabled by a combination of high IEC and a thin membrane structure. Promising alternatives to PFAS-containing membranes exist; however, these are at an early stage, with no clear forerunner in the race to replace PFAS.
Proposed PFAS regulations will necessitate the development of alternative membrane materials for PEM fuel cells. Some of the promising options include hydrocarbons and MOF membranes, but which material parameters are key for success? Source: IDTechEx
In terms of emerging alternative materials, the question of which material parameters are of key importance must be addressed. The membrane is subject to oxidizing and reducing environments on either side of the cell and so must be able to exist in harsh, opposing conditions. The mechanical strength of the membrane directly impacts the performance of the fuel cell. A material with a higher strength can be manufactured to be thinner, leading to a higher power density for the fuel cell stack. Reinforcement can be added to the membrane by manufacturing a composite material. It is imperative that the membrane is impermeable to all but the protons that are exchanged from one side of the fuel cell to the other. Gas crossover occurs if either gas passes through the membrane, while the fuel cell would be short-circuited if the membrane is electrically conductive and allows electrons to pass through. Finally, as for all material supply, it is important that the membrane material can be produced easily and at a low cost.
So, which materials are at the fore of replacing PFAS in PEM fuel cells? Prototype developmental projects are underway with various OEMs, and novel materials are gaining traction, predominantly at an academic level. IDTechEx provides an assessment of composite membranes containing metal-organic frameworks (MOFs), benchmarking various materials across a number of parameters. Historically, hydrocarbons have not seen success as membrane materials due to their tendency to disintegrate in the harsh chemical environments within the fuel cell. However, recent advances have seen the development of hydrocarbon ion-exchange membranes capable of fulfilling the requirements for PEM fuel cells. Ultimately, IDTechEx expects to see the beginning of a transition away from PFAS membranes to alternatives (led by hydrocarbons) within the next three to five years.
Beyond fuel cells, increased restrictions on PFAS driving development of alternative materials in various other emerging technologies. IDTechEx has released a new report, “Per- and Polyfluoroalkyl Substances (PFAS) 2024: Emerging Applications, Alternatives, Regulations”, providing an assessment of emerging PFAS alternatives in critical application areas such as the hydrogen economy, 5G, electric vehicles, and sustainable packaging. Also included is an extensive analysis of current and proposed regulations limiting the use of PFAS.
For more details on the materials demand, trends, and emerging novel alternatives to the incumbents for PEM fuel cells, see the IDTechEx market report “Materials for PEM Fuel Cells 2024-2034: Technologies, Markets, Players”.
For more information on this report, including downloadable sample pages, please visit www.IDTechEx.com/MPEMFC.
For the full portfolio of market research from IDTechEx, please visit www.IDTechEx.com.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com.  
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Media Contact:
Lucy RogersSales and Marketing [email protected] +44(0)1223 812300
Social Media Links:
Twitter: www.twitter.com/IDTechExLinkedIn: www.linkedin.com/company/IDTechEx
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View original content:https://www.prnewswire.co.uk/news-releases/idtechex-discusses-membrane-materials-for-pem-fuel-cells-in-the-post-pfas-world-302116790.html

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Sparrow Co., Ltd. to Showcase the Latest Supply Chain Security Solutions at Black Hat Asia 2024 and Japan IT Week Spring 2024.

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SINGAPORE, April 16, 2024 /PRNewswire/ — Sparrow Co., Ltd., a leading provider of application security services, will be showcasing its latest application security solutions at Black Hat Asia 2024, held at the Marina Bay Sands Hotel in Singapore on April 18th and 19th and Japan IT Week Spring 2024 in Tokyo Big Sight on April 24th to 26th. Sparrow has previously introduced its solutions at Black Hat USA and Japan IT Week, and this marks its first appearance at Black Hat Asia, reflecting the company’s commitment to expanding its reach and serving the growing demand for application security solutions in ASEAN regions.

At the event, Sparrow will unveil the latest updates to its flagship offerings:
Sparrow Cloud: A cloud-based application security solution (SaaS) for easy access and analysis anytime, anywhere.Sparrow On-Demand: An API-driven application security testing service for seamless integration into development workflows.The increasing focus on cybersecurity is driven by several factors:
Government Mandates: Recent cybersecurity executive orders from the US and other governments highlight the need for enhanced security at all levels.Rising Cyber Threats: The prevalence of application-level attacks and the growing risk of supply chain breaches necessitate robust security measures.DevOps Adoption: The adoption of DevOps and CI/CD practices has accelerated the need for automated security testing solutions.Sparrow’s comprehensive suite of automated solutions addresses these concerns by covering the entire software development lifecycle. It includes Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), and Software Composition Analysis (SCA). Sparrow differentiates itself from competitors by offering all these solutions as cloud-based SaaS services. Also, to introduce its updated cloud services, Sparrow is offering a free 1-month evaluation paid license to anyone who registers for Sparrow Cloud by the end of April. 
Sparrow’s solutions effectively address software supply chain security with its application security testing solutions by enabling the identification and elimination of security vulnerabilities and the generation of SBOM (Software Bill of Materials). An SBOM acts as a detailed inventory of all components within a software build, enabling organizations to identify and track open-source components and their license details and vulnerabilities. This transparency can help organizations respond swiftly to security threats, enforce compliance standards, and ensure software supply chain integrity.
Why Choose Sparrow?
Sparrow with its over 17 years of comprehensive analytics expertise, differentiates itself from its competitors by possessing and developing all its solutions in-house solutions and continuously innovating its solutions and technologies to ensure our analysis techniques remain at the forefront of the industry. Sparrow solutions are ideal for organizations and companies seeking:
Comprehensive security testing for application security.Innovative approaches to application security.Visit Sparrow’s booth #607 at Black Hat Asia 2024 or their website ([https://sparrowfasoo.com/]) to learn more.

View original content:https://www.prnewswire.co.uk/news-releases/sparrow-co-ltd-to-showcase-the-latest-supply-chain-security-solutions-at-black-hat-asia-2024-and-japan-it-week-spring-2024-302116810.html

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