UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 8 – Other Events
Item 8.01 Other Events.
On March 6, 2023, the Company issued a press release announcing that it had obtained AS9100D certification for the aviation, space, and defence industries. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Current Report on Form 8-K (including Exhibits 99.1 attached hereto) is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act, except as expressly set forth by specific reference in such filing.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K:
Exhibit No. | Description of Exhibits | |
99.1 | Press release dated March 6, 2023 | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SCOUTCAM INC. | ||
Date: March 6, 2023 | By: | /s/ Tanya Yosef |
Name: | Tanya Yosef | |
Title: | Chief Financial Officer |
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Exhibit 99.1
ScoutCam Obtains AS9100D Certification
for the Aviation, Space and Defense Industries
OMER, Israel, March 6, 2023 – ScoutCam Inc. (OTCQB: SCTC), a leading provider of predictive maintenance (PdM) and condition-based monitoring (CBM) solutions, is pleased to announce the successful accomplishment of AS9100D certification following months of preliminary work and activities. The AS9100D standard is the latest version of an internationally recognized quality management system specifically developed for the aerospace and defense sectors and is based on the ISO 9001:2015 standard. This standard is recognized by the IAQG (International Aerospace Quality Group) which harmonizes across all three sectors (American, European and Asia-Pacific sectors) to set the standard for the industry.
Yehu Ofer, CEO of ScoutCam, comments: “Obtaining our AS9100D certification is a strategic achievement for us, demonstrating ScoutCam’s world-class quality management system and our ability to distinguish ourselves amongst the benchmark in the market. Achieving AS9100D enables ScoutCam to develop and produce with the highest standards in the aerospace and defense industries. Customers are expecting technology providers like ScoutCam to adhere to the latest quality standards. AS9100D certification should instill confidence that we can reliably deliver high quality technology to their satisfaction. I would like to express my appreciation to our professional and dedicated team at ScoutCam that worked so hard to contribute to this success.”
About ScoutCam
ScoutCam is pioneering the predictive maintenance (PdM) and condition-based monitoring (CBM) markets with its visualization and AI platform. Providing video sensor-based solutions for critical systems in the aviation, transportation, industry 4.0 safety critical markets and energy industries, ScoutCam leverages proven visual technologies and products from the medical industry. ScoutCam’s unique video-based sensors, embedded software, and AI algorithms are being deployed in hard-to-reach locations and harsh environments across a variety of PdM and CBM use cases. ScoutCam’s platform provides maintenance and operations teams visibility into areas which are inaccessible under normal operation, or where the operating ambience is not suitable for continuous real-time monitoring.
For additional information, please visit: https://scoutcam.com or follow us on Twitter, LinkedIn and YouTube
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, expectations about ScoutCam achieving AS9100D certification. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Those statements are based on information we have when those statements are made or our management’s current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to the following: (i) market acceptance of our existing and new products, including those that utilize our micro ScoutCam™ technology or offer Predictive Maintenance and Condition Based Monitoring applications, (ii) lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device and related industries from much larger, multinational companies, (v) product liability claims, product malfunctions and the functionality of ScoutCam’s solutions under all environmental conditions, (vi) our limited manufacturing capabilities and reliance on third-parties for assistance, (vii) an inability to establish sales, marketing and distribution capabilities to commercialize our products, (viii) an inability to attract and retain qualified personnel, (ix) our efforts obtain and maintain intellectual property protection covering our products, which may not be successful, (x) our reliance on single suppliers for certain product components, including for miniature video sensors which are suitable for our Complementary Metal Oxide Semiconductor technology products, (xi) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain, (xii) the impact of pandemics, such as COVID-19 (coronavirus) and (xiv) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical, global supply chain and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction. These and other important factors discussed in ScoutCam’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 30, 2022 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Except as required under applicable securities legislation, ScoutCam undertakes no obligation to publicly update or revise forward-looking information.
Company Contact:
Tanya Yosef, CFO
tanya.yosef@scoutcam.com
Tel: +972 73 370-4691
Investor Relations Contact:
Miri Segal
MS-IR LLC
msegal@ms-ir.com
Tel: +1-917-607-8654
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Cover |
Mar. 06, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Mar. 06, 2023 |
Entity File Number | 333-188920 |
Entity Registrant Name | SCOUTCAM INC. |
Entity Central Index Key | 0001577445 |
Entity Tax Identification Number | 47-4257143 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | Suite 7A |
Entity Address, Address Line Two | Industrial Park |
Entity Address, Address Line Three | P.O. Box 3030 |
Entity Address, City or Town | Omer |
Entity Address, Country | IL |
Entity Address, Postal Zip Code | 8496500 |
City Area Code | 972 |
Local Phone Number | 73 370-4691 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
Entity Information, Former Legal or Registered Name | Not Applicable |
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