Iveda Goes Public but Suffering from Heavy Losses

By: John Honovich, Published on Nov 13, 2009

More interesting than the rarity of a video surveillance company going public is the revelation that Iveda is suffering heavy operational losses. 

Iveda Solutions is a specialist in remote monitoring / management of video surveillance. On November 12, 2009, they announced that, through a reverse merger with a penny stock company, they had gone public [link no longer available].

Their financial disclosures as part of going public reveal a company that is in poor operational condition.

  • Annual revenue peaked at $544,259 in 2007. That's not a typo - just a half million US dollars for the year.
  • In 2009, revenue is down almost 25% with Q2 2009 revenue only slightly above $100,000 USD.
  • Operating losses have been severe - over $1.5 Million USD in 2008 and almost half a million in 2007.
  • Losses from operations were $855,502 for the six months ended June 30, 2009
  • "IntelaSight implemented 10% to 41% salary cuts across the board in April 2009."

While going public is often thought as a validation of success, Iveda's poor financial position is a clear concern. Many remote monitoring vendors have faced similar challenges over the last decade.

Update: In a November 19, 2009 interview with Security Systems News, Iveda's CEO contends that the event means "renewed confidence and credibility." However, sophisticated observers can now see our extremely poor their operational and financial performance has been.

1 report cite this report:

Iveda's Annual Results and Doubtful Future on May 12, 2010
Last year, hosted / monitoring video provider Iveda Solutions [link no longer available] went public. Examining their recently released 10k /...
Comments : PRO Members only. Login. or Join.

Most Recent Industry Reports

ADT Stock Surges - "Leading The Commercial Space" on Nov 15, 2019
Don't call it comeback... but maybe call it a commercial provider. ADT, whose stock dropped by as much as 2/3rds since IPOing in 2018, has now...
Gatekeeper Security Company Profile - Detecting Faces Inside Vehicles on Nov 14, 2019
Border security is a common discussion in mainstream US news and politics, as is the use of banned Chinese equipment by US Government agencies....
Hikvision CEO And Vice-Chair Under PRC Government Investigation on Nov 14, 2019
In a surprising and globally covered move, Hikvision CEO Hu Yangzhong and Vice-Chairman Gong Hongjia are being investigated by China's securities...
Camera Field of View (FoV) Guide on Nov 13, 2019
Field of View (FoV) and Angle of View (AoV), are deceptively complex. At their most basic, they simply describe what the camera can "see" and seem...
UK Big Brother Watch: Hikvision Is 'Morally Bankrupt' on Nov 13, 2019
UK civil liberties advocate Big Brother Watch has condemned Hikvision as being 'morally bankrupt' following IPVM exposing Hikvision marketing...
Color Low Light Mega Camera Shootout - Avigilon, Axis, Bosch, Dahua, Hanwha, Hikvision, Panasonic, Speco, Sony, Vivotek on Nov 12, 2019
This is the biggest color low light shootout ever, testing 20+ super low light models from 10 manufacturers: Increasingly, each manufacturer...
Wireless / WiFi Access Lock Guide on Nov 12, 2019
For some access openings, running wires can add thousands in cost, and wireless alternatives that avoid it becomes appealing. But using wireless...
Hikvision Global News Reports Directory on Nov 11, 2019
Hikvision has received the most global news reporting of any video surveillance company, ever, ranging from the WSJ, the Financial Times, Reuters,...
Hikvision Markets Uyghur Ethnicity Analytics, Now Covers Up on Nov 11, 2019
Hikvision has marketed an AI camera that automatically identifies Uyghurs, on its China website, only covering it up days ago after IPVM questioned...
Open vs End-to-End Systems: Integrator Statistics 2019 on Nov 11, 2019
Preference for open systems is on the decline, according to new IPVM statistics. We asked integrators: For video surveillance systems, do you...