The Board of Directors of Artivision Technologies Ltd (“Artivision”) is pleased to announce that its wholly-owned subsidiary, ArtiMedia Pte Ltd (“Artimedia”), has entered into an exclusive non-binding Memorandum of Understanding (“MOU”) with Intel Corporation Inc. (“Intel”), the world’s largest microchip manufacturer, on 1 February 2012 (“MOU Date”).
Under the MOU, Artimedia will incorporate its front-end in-video advertising platform and back-end advertisement serving technology into Intel’s Software Development Kit or SDK that has Intel’s “Wi-Fi Direct” technology. “Wi-Fi Direct” technology enables mobile and other devices to connect directly with each other and to transfer and share content, including images, pictures and videos. The MOU will automatically expire upon the lapse of four (4) months from the MOU Date, unless extended mutually in writing.
Surrender! This stock got Big Supporter called Ching Chiat Kwong -- chairman of Oxley. He had 25m shares of Arti, then the other day added 1.5 m to become Substantial Shareholder. Crossed 5% liao.
Artivision 3Q result is just out : Revenue S$49,000. 9M revenue was $197K, which gives it the dubious distinction of achieving probably the lowest corporate revenue in the history of Singapore Exchange.
Yet the market has given it a stock value of S$142 million. What will the future bring that can justify its S$142 million market cap?
Artivision FY2012 results do not show any significant increase in its business fundamentals. Still loss making. Balance sheet looking a lot prettier because of support from Mr Ching of Oxley, who took up convertible bonds for $5 million.
There seems to be a good supply of funds to keep Artivision going:
1. Additional shareholder’s loan from the substantial shareholder, Algotech Holding Ltd, of S$0.75 million,
2. Exercise of share options of S$1.84 million and
4. Net proceeds from share placement of S$2.48 million.
