10-K Filing

IVEDA SOLUTIONS, INC. CIK: 1397183 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0001144204-12-018625`
Period End Date	20111231
Filing Date	20120330
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	ivda-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 32 Cash Flow Statement 64 Stockholders Equity 21

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$355.34K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.67K	USD	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred Stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$942.88K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$361.69K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Notes Receivable	`NotesReceivableNet`	$102.09K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	13.66M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	18.03M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$388.65K	USD	Point-in-time
Prepaid Expenses and Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.53K	USD	Point-in-time
Prepaid Expenses and Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$44.89K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	18.03M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	13.66M	shares	Point-in-time
Inventories	`InventoryNet`	$80.03K	USD	Point-in-time
Inventories	`InventoryNet`	$4.65K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$726.21K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.41M	USD	Point-in-time
Office Equipment	`PropertyPlantAndEquipmentOther`	$212.04K	USD	Point-in-time
Office Equipment	`PropertyPlantAndEquipmentOther`	$284.85K	USD	Point-in-time
Furniture and Fixtures	`FurnitureAndFixturesGross`	$67.48K	USD	Point-in-time
Furniture and Fixtures	`FurnitureAndFixturesGross`	$27.80K	USD	Point-in-time
Software	`CapitalizedComputerSoftwareGross`	$47.97K	USD	Point-in-time
Software	`CapitalizedComputerSoftwareGross`	$55.72K	USD	Point-in-time
Leased Equipment	`CapitalLeasedAssetsGross`	$247.79K	USD	Point-in-time
Leased Equipment	`CapitalLeasedAssetsGross`	$257.17K	USD	Point-in-time
Leasehold Improvements	`LeaseholdImprovementsGross`	$50.81K	USD	Point-in-time
Leasehold Improvements	`LeaseholdImprovementsGross`	$36.96K	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentGross`	$716.01K	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentGross`	$572.57K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$340.49K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$262.49K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$310.08K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$375.52K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$10.21K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$10.84K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$53.81K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$4.64K	USD	Point-in-time
Trademarks	`FiniteLivedTrademarksGross`	$200.00K	USD	Point-in-time
Other Intangible Assets	`OtherFiniteLivedIntangibleAssetsGross`	$130.00K	USD	Point-in-time
Less: Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$143.33K	USD	Point-in-time
Goodwill	`Goodwill`	$841.00K	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$10.21K	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$1.10M	USD	Point-in-time
Total Assets	`Assets`	$1.05M	USD	Point-in-time
Total Assets	`Assets`	$3.88M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$499.64K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$180.35K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$77.58K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$393.61K	USD	Point-in-time
Current Portion of Capital Lease Obligations	`CapitalLeaseObligationsCurrent`	$11.88K	USD	Point-in-time
Current Portion of Capital Lease Obligations	`CapitalLeaseObligationsCurrent`	$48.40K	USD	Point-in-time
Due to Related Parties, Net of Debt Discount	`DueToRelatedPartiesCurrent`	$197.00K	USD	Point-in-time
Due to Related Parties, Net of Debt Discount	`DueToRelatedPartiesCurrent`	$76.42K	USD	Point-in-time
Bank Loans - Short Term	`ShortTermBankLoansAndNotesPayable`	$212.48K	USD	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$103.20K	USD	Point-in-time
Notes Payable	`NotesPayableCurrent`	$35.84K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$98.81K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$11.62K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$514.94K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.43M	USD	Point-in-time
Capital Lease Obligations, Net of Current Portion	`CapitalLeaseObligationsNoncurrent`	$10.46K	USD	Point-in-time
Capital Lease Obligations, Net of Current Portion	`CapitalLeaseObligationsNoncurrent`	$13.61K	USD	Point-in-time
Total Liabilities	`Liabilities`	$528.55K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.44M	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares authorized; no shares outstanding as of December 31, 2011 or 2010	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares authorized; no shares outstanding as of December 31, 2011 or 2010	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.00001 par value; 200,000,000 shares authorized; 18,031,729 and 13,664,257 shares issued and outstanding, as of December 31, 2011 and 2010, respectively	`CommonStockValue`	$180.00	USD	Point-in-time
Common Stock, $0.00001 par value; 200,000,000 shares authorized; 18,031,729 and 13,664,257 shares issued and outstanding, as of December 31, 2011 and 2010, respectively	`CommonStockValue`	$137.00	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$13.64M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$7.21M	USD	Point-in-time
Accumulated Comprehensive Income (Loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-45.91K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-11.16M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-6.70M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$-533.35K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$517.95K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.44M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$1.05M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.88M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Equipment Sales	`SalesRevenueGoodsNet`	$470.89K	USD	Annual
Equipment Sales	`SalesRevenueGoodsNet`	$2.08M	USD	Annual
Service Revenue	`SalesRevenueServicesNet`	$726.63K	USD	Annual
Service Revenue	`SalesRevenueServicesNet`	$461.76K	USD	Annual
Other Revenue	`OtherSalesRevenueNet`	$7.36K	USD	Annual
Other Revenue	`OtherSalesRevenueNet`	$10.18K	USD	Annual
Total Revenue	`Revenues`	$940.01K	USD	Annual
Total Revenue	`Revenues`	$2.82M	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$587.75K	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$2.15M	USD	Annual
GROSS PROFIT	`GrossProfit`	$352.26K	USD	Annual
GROSS PROFIT	`GrossProfit`	$664.51K	USD	Annual
General & Administrative	`GeneralAndAdministrativeExpense`	$4.09M	USD	Annual
General & Administrative	`GeneralAndAdministrativeExpense`	$2.28M	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	$955.71K	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-4.39M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.93M	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$1.04K	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$996.00	USD	Annual
Interest Expense	`InterestExpense`	$31.56K	USD	Annual
Interest Expense	`InterestExpense`	$16.92K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-15.88K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-30.57K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.42M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.95M	USD	Annual
(PROVISION) FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$47.03K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-4.46M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-1.95M	USD	Annual
BASIC AND DILUTED LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	Annual
BASIC AND DILUTED LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$-0.14	USD	Annual
WEIGHTED AVERAGE SHARES	`WeightedAverageNumberBasicDilutedSharesOutstanding`	14.00M	shares	Annual
WEIGHTED AVERAGE SHARES	`WeightedAverageNumberBasicDilutedSharesOutstanding`	15.85M	shares	Annual

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-4.46M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.95M	USD	Annual
Depreciation and Amortization	`DepreciationAndAmortization`	$82.84K	USD	Annual
Depreciation and Amortization	`DepreciationAndAmortization`	$255.69K	USD	Annual
Stock Compensation	`ShareBasedCompensation`	$267.23K	USD	Annual
Stock Compensation	`ShareBasedCompensation`	$515.42K	USD	Annual
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$68.75K	USD	Annual
Common stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$518.00K	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	$955.71K	USD	Annual
Provision for obsolete inventory	`InventoryWriteDown`	$20.58K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$30.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$324.95K	USD	Annual
Notes Receivable	`IncreaseDecreaseInNotesReceivableCurrent`	$94.54K	USD	Annual
Other Receivables	`IncreaseDecreaseInOtherReceivables`	$-13.70K	USD	Annual
Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	$470.00	USD	Annual
Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	$-13.28K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$4.65K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-20.53K	USD	Annual
Deposits	`IncreaseDecreaseInDeposits`	$-165.44K	USD	Annual
Deposits	`IncreaseDecreaseInDeposits`	$4.02K	USD	Annual
Deferred tax assets	`IncreaseDecreaseInDeferredIncomeTaxes`	$4.78K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$184.02K	USD	Annual
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$-17.18K	USD	Annual
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$-238.29K	USD	Annual
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$270.88K	USD	Annual
Tax Payable	`IncreaseDecreaseInTaxesPayable`	$-121.73K	USD	Annual
Notes Payable	`IncreaseDecreaseInNotesPayableCurrent`	$-6.76K	USD	Annual
Other Payable	`IncreaseDecreaseInOtherAccountsPayable`	$-1.45K	USD	Annual
Deferred tax liabilities	`IncreaseDecreaseInIncomeTaxes`	$-49.41K	USD	Annual
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$60.42K	USD	Annual
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$-3.04K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.11M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.11M	USD	Annual
Cash Acquired in Acquisition	`CashAcquiredFromAcquisition`	$740.56K	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$135.07K	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$153.57K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-135.07K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$586.99K	USD	Annual
Proceeds from related parties	`ProceedsFromRelatedPartyDebt`	$90.00K	USD	Annual
Proceeds from related parties	`ProceedsFromRelatedPartyDebt`	$63.00K	USD	Annual
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$41.72K	USD	Annual
Payments on Short-term Notes Payable/Debt	`RepaymentsOfShortTermDebt`	$197.00K	USD	Annual
Bank Borrowings	`ProceedsFromBankDebt`	$151.80K	USD	Annual
Payments on Capital Lease Obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$39.66K	USD	Annual
Payments on Capital Lease Obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$89.25K	USD	Annual
Common Stock Issued, net of Costs of Capital	`ProceedsFromIssuanceOfCommonStock`	$2.61M	USD	Annual
Common Stock Issued, net of Costs of Capital	`ProceedsFromIssuanceOfCommonStock`	$2.08M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.59M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.04M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-22.98K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$337.67K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$495.02K	USD	Annual
Cash and Cash Equivalents - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$355.34K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$17.67K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$355.34K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$17.67K	USD	Point-in-time
Debt Converted to Stock	`DebtConversionConvertedInstrumentAmount1`	$50.49K	USD	Annual
Debt Converted to Stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Interest Paid	`InterestPaid`	$16.92K	USD	Annual
Interest Paid	`InterestPaid`	$31.56K	USD	Annual
Property and Equipment Purchased via Capital Lease	`CapitalLeaseObligationsIncurred`	$9.37K	USD	Annual
Property and Equipment Purchased via Capital Lease	`CapitalLeaseObligationsIncurred`	$21.30K	USD	Annual

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
BEGINNING BALANCE	`StockholdersEquity`	$-533.35K	USD	Point-in-time
BEGINNING BALANCE	`StockholdersEquity`	$517.95K	USD	Point-in-time
BEGINNING BALANCE	`StockholdersEquity`	$2.44M	USD	Point-in-time
ENDING BALANCE	`StockholdersEquity`	$-533.35K	USD	Point-in-time
ENDING BALANCE	`StockholdersEquity`	$517.95K	USD	Point-in-time
ENDING BALANCE	`StockholdersEquity`	$2.44M	USD	Point-in-time
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$103.50K	USD	Annual
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$282.00K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$267.23K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$515.42K	USD	Annual
Common Stock Retired From Merger	`StockRepurchasedAndRetiredDuringPeriodValue`	$25.00	USD	Annual
Stock Value of MEGAsys	`StockIssuedDuringPeriodValueAcquisitions`	$1.67M	USD	Annual
Contingent Consideration	`AdjustmentsToAdditionalPaidInCapitalOther`	$1.64M	USD	Annual
Debt Converted to Common Stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$50.49K	USD	Annual
Debt Discount	`AdjustmentsToAdditionalPaidInCapitalOriginalIssueDiscount`	$18.10K	USD	Annual
Warrants exercised	`StockIssuedDuringPeriodValueStockWarrantsExercised`	$20.00	USD	Annual
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$100.00	USD	Annual
Net Loss	`NetIncomeLoss`	$-4.46M	USD	Annual
Net Loss	`NetIncomeLoss`	$-1.95M	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease`	$-45.91K	USD	Annual
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-4.51M	USD	Annual

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.