Iveda Solutions - IVDA STOCK NEWS

Iveda (NASDAQ: IVDA), a leader in cloud-based AI, announces that ColoBarn, a colocation services provider in Arizona and Florida, has chosen IvedaAI™ to enhance the physical security of its data centers. This integration aims to bolster ColoBarn's security standards by utilizing AI analytics for intrusion detection, facial recognition, and license plate recognition, among others. The deployment of IvedaAI™ provides real-time alerts, improving access control for both ColoBarn's staff and end-users. The global data center colocation market is expected to grow from $57.2 billion in 2022 to $131.80 billion by 2030, emphasizing the need for advanced security solutions. This collaboration sets a new benchmark for security in colocation services, aligning with ColoBarn's mission to offer unparalleled service and security to its customers.

Iveda (NASDAQ: IVDA) announces a proof-of-concept project using its AI vision software, vumastAR, to enhance assembly line efficiency for a major computer manufacturer in Asia. The project aims to improve speed and accuracy in inspecting critical hardware components throughout the assembly process. VumastAR utilizes AI-driven detection and real-time alerts to reduce human error and enhance quality control.

Richard Tsay, Iveda's Director of Product, highlights vumastAR's ability to train custom models for specific organizational needs, including using AI with microscopes for precise hardware inspection. CEO David Ly emphasizes the potential for AI-driven solutions to accelerate processes and improve ROI for clients in the computer hardware manufacturing industry.

Iveda (NASDAQ: IVDA), a leader in cloud-based AI, reports increasing demand for its AI-backed school safety solutions from U.S. educational institutions. IvedaAI offers real-time alerts for weapon detection, crowd detection, intruders, and objects left behind, enhancing campus security and operational efficiency. The company predicts the 2024-2025 school year will see the highest adoption of AI technologies in educational settings.

Key points:

• Education-related AI market expected to reach $6 billion by 2025
• IvedaAI integrates with existing security systems, reducing costs
• IvedaAI Sense provides non-video detection for vaping and bullying
• Growing interest from schools in leveraging AI for safety and efficiency

Iveda (NASDAQ: IVDA), a leader in cloud-based AI, is experiencing increased interest from major retail chains globally for its IvedaAI Cloud subscription services. This AI-driven solution integrates with existing security cameras, offering a cost-effective way to combat retail theft, which costs the industry nearly $112.1 billion annually. IvedaAI Cloud transforms standard IP cameras into AI-powered tools that can detect objects, faces, vehicles, and license plates in real-time, enabling enhanced security measures without significant hardware investments.

The service provides essential features like access control monitoring, intrusion detection, and instant alerts for suspicious activities. It also offers rapid video search capabilities, allowing users to search up to 14 days of metadata using simple queries. In response to industry trends, Iveda is developing AI-powered body cameras to complement its cloud service, set to launch later this year.

Iveda Solutions (NASDAQ: IVDA) has announced a 1-for-8 reverse stock split of its common stock, effective September 17, 2024. This move will reduce the company's outstanding and authorized shares, with each 8 shares being combined into 1. The publicly traded common stock purchase warrants (NASDAQ: IVDAW) will also be adjusted, with 8 warrants now required to acquire one share at a revised price of $34.00 per share. The company's authorized common stock will decrease from 37,500,000 to 4,687,500 shares.

CEO David Ly stated that the primary goal is to maintain IVDA's listing on the Nasdaq Capital Market. However, the company cannot guarantee that the post-split stock price will reflect the split ratio or remain above pre-split levels. Trading on a split-adjusted basis is expected to begin on September 17, 2024, with no fractional shares issued.

Iveda Solutions (NASDAQ: IVDA), a cloud-based AI leader, has announced a $2.15 million registered direct offering priced at-the-market under Nasdaq rules. The company will issue 5,000,000 shares of common stock (or pre-funded warrants) at $0.43 per share. Additionally, Iveda will issue unregistered Series A and B warrants for up to 5,000,000 shares each in a concurrent private placement. The offering is expected to close around September 6, 2024. H.C. Wainwright & Co. is the exclusive placement agent. Iveda plans to use the net proceeds for working capital and general corporate purposes. The offering includes a shelf registration statement and a private placement under Section 4(a)(2) of the Securities Act.

Iveda (NASDAQ: IVDA) announces the application of its AI vision software, vumastAR, to recognize and respond to oil spills. The company is developing this technology for proof-of-concept projects with major oil companies in Australia and the United States. VumastAR's AI-driven detection and automatic alerts aim to reduce manual checks, resulting in labor savings and faster detection times.

The global oil spill management market is projected to grow from $153.38 billion in 2023 to $175.79 billion by 2028. Iveda's custom AI model will provide immediate alerts for rapid response, minimizing environmental impacts and operational costs. The technology's versatility extends beyond oil spills, serving multiple industries and aligning with ESG principles.

Iveda (NASDAQ:IVDA) has filed a patent for LevelNOW, an innovative IoT sensor solution for remote monitoring and control of liquid storage. This technology addresses critical issues in industries like oil and gas, where billions are invested in liquid storage infrastructure. LevelNOW offers real-time monitoring, helping companies tackle problems such as leaks, evaporation, and theft during liquid transit and storage.

The patent covers a customizable IoT sensor that can measure liquid levels externally on various container sizes and shapes, eliminating the need for expensive internal replacement sensors. LevelNOW is already being used by a major oil company in Australia to optimize customer care and just-in-time refills. With the intermediate bulk container (IBC) and metal drum market projected to grow to $24.1B+ by 2030, LevelNOW is well-positioned to address industry growth opportunities.

Iveda (NASDAQ: IVDA) has expanded its AI-powered solutions at Waymark Gardens, a senior living facility in Glendale, AZ. The facility now integrates IvedaCare, a sensor-based HIPAA-compliant solution, with IvedaAI, a real-time AI video search platform. This combination enhances safety and operational efficiency in public spaces, allowing for swift detection of falls and critical incidents.

The integration serves as a blueprint for remote patient monitoring, supporting Iveda's subcontract with Movement Interactive under a $1.032 billion, eight-year Veterans Affairs contract. IvedaCare recently won the 2024 Excellence in AI Award for its application in senior care. The solution provides comprehensive monitoring in both private and public areas, ensuring resident safety while maintaining independence.