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Falling Knife of the Week: Artivision Technologies

Artivision Technologies (SGX: 5NK) fell 16.9% for the week to close at $0.069 and clinch the Falling Knife of the Week accolade.

The company was founded in 2004 and it provides diverse computer-vision solutions and services for video security and online video monetization. It operates worldwide serving both the public and private sectors.

On 29 Jan 2014, Artivision announced that it had appointed, on the same day, Mr Leong Chuo Ming and Ms Yvette Lim Pei Yung as Joint Company Secretaries of the Company. They will replace Mr Nathaniel Chelvarajah Vanniasingham.

As for the company’s latest financials, it made just S$20,000 in revenue for the six months ended 30 Sep 2013. The loss for the same period was at S$2.9 million. In the previous year, it made S$78,000 in revenue and a loss of S$2.5 million.

As of 30 Sep 2013, it had S$1.9 million in cash and a loan of S$2.8 million from shareholders for the latest quarter. The loan is interest-free and unsecured. Furthermore, the settlement of the amount is not fixed and is not likely to occur anytime soon. It also did not generate any cash from operations for both years.

Artivision is down 70% as compared to the 7% dip in the Straits Times Index (SGX: ^STI) over the last 12 months. The price-to-book ratio of the company stands at a whooping 112, as of Thursday’s close.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.