10-Q Filing

IVEDA SOLUTIONS, INC. CIK: 1397183 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-028461`
Period End Date	20120331
Filing Date	20120514
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	ivda-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 104 Income Statement 30 Cash Flow Statement 50

Balance Sheet 104 line items

Line Item	Tag	Value	Unit	Period
Notes Payable, due to related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$47.00K	USD	Point-in-time
Notes Payable, due to related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$47.00K	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred Stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$250.46K	USD	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
Preferred Stock, shares authorized	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$581.08K	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`	$1.06M	USD	Point-in-time
Accounts Receivable, net	`AccountsReceivableNetCurrent`	$942.88K	USD	Point-in-time
Note Receivable	`NotesReceivableNet`	$102.09K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Note Receivable	`NotesReceivableNet`	$6.73K	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deposits	`DepositsAssetsCurrent`	$298.58K	USD	Point-in-time
Deposits	`DepositsAssetsCurrent`	$388.65K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, shares reserved for issuance	`CommonStockIssuableSharesIssuable`	14.00M	shares	Point-in-time
Common Stock, shares reserved for issuance	`CommonStockIssuableSharesIssuable`	14.00M	shares	Point-in-time
Inventory	`InventoryNet`	$110.81K	USD	Point-in-time
Inventory	`InventoryNet`	$80.03K	USD	Point-in-time
Prepaid Expenses and Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$44.89K	USD	Point-in-time
Prepaid Expenses and Other Current Assets	`PrepaidExpenseAndOtherAssetsCurrent`	$51.57K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	18.03M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	19.49M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	18.03M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.41M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.11M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	19.49M	shares	Point-in-time
Office Equipment	`PropertyPlantAndEquipmentOther`	$284.85K	USD	Point-in-time
Office Equipment	`PropertyPlantAndEquipmentOther`	$412.41K	USD	Point-in-time
Furniture and Fixtures	`FurnitureAndFixturesGross`	$67.48K	USD	Point-in-time
Furniture and Fixtures	`FurnitureAndFixturesGross`	$67.61K	USD	Point-in-time
Software	`CapitalizedComputerSoftwareGross`	$137.11K	USD	Point-in-time
Software	`CapitalizedComputerSoftwareGross`	$55.72K	USD	Point-in-time
Leased Equipment	`CapitalLeasedAssetsGross`	$257.17K	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`	$50.48K	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentGross`	$716.01K	USD	Point-in-time
Total Property and Equipment	`PropertyPlantAndEquipmentGross`	$924.78K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$340.49K	USD	Point-in-time
Less: Accumulated Depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$383.83K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$375.52K	USD	Point-in-time
Property and Equipment, Net	`PropertyPlantAndEquipmentNet`	$540.95K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$10.84K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$10.84K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$53.81K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$96.91K	USD	Point-in-time
Deferred Tax assets	`DeferredTaxAssetsNetNoncurrent`	$4.74K	USD	Point-in-time
Deferred Tax assets	`DeferredTaxAssetsNetNoncurrent`	$4.64K	USD	Point-in-time
Trademarks	`FiniteLivedTrademarksGross`	$200.00K	USD	Point-in-time
Trademarks	`FiniteLivedTrademarksGross`	$200.00K	USD	Point-in-time
Other Intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$130.00K	USD	Point-in-time
Other Intangible assets	`OtherFiniteLivedIntangibleAssetsGross`	$130.00K	USD	Point-in-time
Less: Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$143.33K	USD	Point-in-time
Less: Accumulated Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$148.33K	USD	Point-in-time
Goodwill	`Goodwill`	$841.00K	USD	Point-in-time
Goodwill	`Goodwill`	$841.00K	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$1.10M	USD	Point-in-time
Total Other Assets	`OtherAssetsNoncurrent`	$1.14M	USD	Point-in-time
Total Assets	`Assets`	$3.88M	USD	Point-in-time
Total Assets	`Assets`	$3.79M	USD	Point-in-time
Accounts and other Payables	`AccountsPayableCurrent`	$499.64K	USD	Point-in-time
Accounts and other Payables	`AccountsPayableCurrent`	$955.25K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$393.61K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$365.15K	USD	Point-in-time
Current Portion of Capital Lease Obligations	`CapitalLeaseObligationsCurrent`	$11.88K	USD	Point-in-time
Current Portion of Capital Lease Obligations	`CapitalLeaseObligationsCurrent`	$10.80K	USD	Point-in-time
Due to Related Parties, net of debt discount	`DueToRelatedPartiesCurrent`	$76.42K	USD	Point-in-time
Due to Related Parties, net of debt discount	`DueToRelatedPartiesCurrent`	$81.93K	USD	Point-in-time
Bank Loans -Short Term	`ShortTermBankLoansAndNotesPayable`	$212.48K	USD	Point-in-time
Bank Loans -Short Term	`ShortTermBankLoansAndNotesPayable`	$378.36K	USD	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$84.46K	USD	Point-in-time
Income Tax Payable	`AccruedIncomeTaxesCurrent`	$103.20K	USD	Point-in-time
Notes Payable, including $47,000 due to related parties	`NotesPayableCurrent`	$35.84K	USD	Point-in-time
Notes Payable, including $47,000 due to related parties	`NotesPayableCurrent`	$72.27K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$84.28K	USD	Point-in-time
Deferred Revenue	`DeferredRevenueCurrent`	$98.81K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.03M	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`	$8.14K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.44M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.04M	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares authorized; no shares outstanding as of March 31, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares authorized; no shares outstanding as of March 31, 2012 and December 31, 2011	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 19,491,729 (includes 1,4000,000 shares reserved for issuance) and 18,031,729 shares issued and outstanding, as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$181.00	USD	Point-in-time
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 19,491,729 (includes 1,4000,000 shares reserved for issuance) and 18,031,729 shares issued and outstanding, as of March 31, 2012 and December 31, 2011, respectively	`CommonStockValue`	$180.00	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$13.73M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$13.64M	USD	Point-in-time
Accumulated Comprehensive Income (Loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-29.61K	USD	Point-in-time
Accumulated Comprehensive Income (Loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-45.91K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-11.95M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-11.16M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$2.44M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.75M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.88M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.79M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Equipment Sales	`SalesRevenueGoodsNet`	$500.87K	USD	1 Quarter
Equipment Sales	`SalesRevenueGoodsNet`	$149.51K	USD	1 Quarter
Service Revenue	`SalesRevenueServicesNet`	$194.37K	USD	1 Quarter
Service Revenue	`SalesRevenueServicesNet`	$119.59K	USD	1 Quarter
Other Revenue	`OtherSalesRevenueNet`	$14.80K	USD	1 Quarter
Other Revenue	`OtherSalesRevenueNet`	$15.59K	USD	1 Quarter
TOTAL REVENUE	`Revenues`	$710.83K	USD	1 Quarter
TOTAL REVENUE	`Revenues`	$283.90K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$172.51K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$535.11K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$111.40K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$175.72K	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$960.43K	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$537.61K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-784.71K	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-426.21K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$261.00	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$60.00	USD	1 Quarter
Interest Expense	`InterestExpense`	$10.49K	USD	1 Quarter
Interest Expense	`InterestExpense`	$14.57K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-10.43K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-14.31K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-440.52K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-795.14K	USD	1 Quarter
BENEFIT FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
BENEFIT FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-440.52K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-795.14K	USD	1 Quarter
BASIC AND DILUTED LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
BASIC AND DILUTED LOSS PER SHARE	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-440.52K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-795.14K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$43.35K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$24.93K	USD	1 Quarter
Stock Compensation	`ShareBasedCompensation`	$55.74K	USD	1 Quarter
Stock Compensation	`ShareBasedCompensation`	$28.58K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-187.78K	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$106.48K	USD	1 Quarter
Notes Receivable	`IncreaseDecreaseInNotesReceivableCurrent`	$-97.29K	USD	1 Quarter
Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	$8.39K	USD	1 Quarter
Prepaid Expense	`IncreaseDecreaseInPrepaidExpense`	$-2.55K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$29.15K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.64K	USD	1 Quarter
Deposit	`IncreaseDecreaseInDeposits`	$1.20K	USD	1 Quarter
Deposit	`IncreaseDecreaseInDeposits`	$98.13K	USD	1 Quarter
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-2.18K	USD	1 Quarter
Accounts and other Payables	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$57.34K	USD	1 Quarter
Accounts and other Payables	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$446.44K	USD	1 Quarter
Notes Payable	`IncreaseDecreaseInNotesPayableCurrent`	$-11.31K	USD	1 Quarter
Tax Payable	`IncreaseDecreaseInTaxesPayable`	$-20.90K	USD	1 Quarter
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$-35.11K	USD	1 Quarter
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$-5.29K	USD	1 Quarter
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$-14.60K	USD	1 Quarter
Deferred Revenue	`IncreaseDecreaseInDeferredRevenue`	$-4.93K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-305.11K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-119.56K	USD	1 Quarter
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$203.37K	USD	1 Quarter
Net cash provided by (used) in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-203.37K	USD	1 Quarter
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$41.84K	USD	1 Quarter
Payments on Short-Term Notes Payable/Debt	`ProceedsFromRepaymentsOfShortTermDebt`	$166.41K	USD	1 Quarter
Proceeds from (Payments to) Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$47.00K	USD	1 Quarter
Payments on Capital Lease Obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$3.40K	USD	1 Quarter
Payments on Capital Lease Obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$15.32K	USD	1 Quarter
Common Stock Issued, net of Cost of Capital	`ProceedsFromIssuanceOfCommonStock`	$60.00K	USD	1 Quarter
Common Stock Issued, net of Cost of Capital	`ProceedsFromIssuanceOfCommonStock`	$30.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$14.68K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$228.17K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$11.03K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-104.89K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-269.28K	USD	1 Quarter
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$250.46K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$355.34K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$581.08K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$250.46K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$355.34K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$581.08K	USD	Point-in-time
Interest Paid	`InterestPaid`	$10.49K	USD	1 Quarter
Interest Paid	`InterestPaid`	$14.57K	USD	1 Quarter

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