10-K Filing

IVEDA SOLUTIONS, INC. CIK: 1397183 FY 2012

Filing Information

Form Type	10-K
Accession Number	`0001144204-13-018976`
Period End Date	20121231
Filing Date	20130401
Fiscal Year	2012
Fiscal Period	FY
XBRL Instance	ivda-20121231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 36 Cash Flow Statement 56 Stockholders Equity 20

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$355.34K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.46K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$447.21K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$53.81K	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
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.96M	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$942.88K	USD	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	20.46M	shares	Point-in-time
Common stock, shares Issued	`CommonStockSharesIssued`	18.03M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.46M	shares	Point-in-time
Inventory	`InventoryNet`	$123.02K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.03M	shares	Point-in-time
Inventory	`InventoryNet`	$80.03K	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$645.73K	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$535.63K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.29M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.46M	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$516.98K	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$375.52K	USD	Point-in-time
Intangible Assets, Net	`OtherIntangibleAssetsNet`	$186.67K	USD	Point-in-time
Intangible Assets, Net	`OtherIntangibleAssetsNet`	$166.67K	USD	Point-in-time
Goodwill	`Goodwill`	$841.00K	USD	Point-in-time
Goodwill	`Goodwill`	$841.00K	USD	Point-in-time
Other Assets	`OtherAssets`	$105.62K	USD	Point-in-time
Other Assets	`OtherAssets`	$15.47K	USD	Point-in-time
Total Other Assets	`PrepaidExpenseAndOtherAssets`	$1.11M	USD	Point-in-time
Total Other Assets	`PrepaidExpenseAndOtherAssets`	$1.04M	USD	Point-in-time
Total Assets	`Assets`	$4.92M	USD	Point-in-time
Total Assets	`Assets`	$3.88M	USD	Point-in-time
Accounts and Other Payables	`AccountsPayableCurrent`	$1.10M	USD	Point-in-time
Accounts and Other Payables	`AccountsPayableCurrent`	$2.46M	USD	Point-in-time
Due to Related Parties, net of debt discount	`DueToRelatedPartiesCurrent`	$336.61K	USD	Point-in-time
Due to Related Parties, net of debt discount	`DueToRelatedPartiesCurrent`	$76.42K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$248.32K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$802.12K	USD	Point-in-time
Current Portion of Long-Term Debt	`OtherLongTermDebtCurrent`	$11.88K	USD	Point-in-time
Current Portion of Long-Term Debt	`OtherLongTermDebtCurrent`	$75.71K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.67M	USD	Point-in-time
LONG TERM DEBT	`LongTermDebt`	$10.46K	USD	Point-in-time
LONG TERM DEBT	`LongTermDebt`	$67.69K	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.00001 par value; 200,000,000 shares Authorized; 20,458,048 and 18,031,729 shares issued And outstanding as of December 31, 2012 and 2011, respectively	`CommonStockValue`	$180.00	USD	Point-in-time
Common Stock, $0.00001 par value; 200,000,000 shares Authorized; 20,458,048 and 18,031,729 shares issued And outstanding as of December 31, 2012 and 2011, respectively	`CommonStockValue`	$204.00	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapitalCommonStock`	$13.64M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapitalCommonStock`	$16.20M	USD	Point-in-time
Accumulated Comprehensive Income (Loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-45.91K	USD	Point-in-time
Accumulated Comprehensive Income (Loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.63K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-15.00M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-11.16M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$1.18M	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`	$3.88M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$4.92M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Equipment Sales	`EquipmentSales`	$2.82M	USD	Annual
Equipment Sales	`EquipmentSales`	$2.08M	USD	Annual
Service Revenue	`SalesRevenueServicesNet`	$726.63K	USD	Annual
Service Revenue	`SalesRevenueServicesNet`	$731.91K	USD	Annual
Other Revenue	`OtherSalesRevenueNet`	$10.18K	USD	Annual
Other Revenue	`OtherSalesRevenueNet`	$61.94K	USD	Annual
Total Revenue	`Revenues`	$2.82M	USD	Annual
Total Revenue	`Revenues`	$3.61M	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$2.15M	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$3.23M	USD	Annual
GROSS PROFIT	`GrossProfit`	$664.51K	USD	Annual
GROSS PROFIT	`GrossProfit`	$378.50K	USD	Annual
General & Administrative	`GeneralAndAdministrativeExpense`	$4.22M	USD	Annual
General & Administrative	`GeneralAndAdministrativeExpense`	$4.09M	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	$955.71K	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-4.39M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-3.84M	USD	Annual
Foreign Currency Gain (Loss)	`ForeignCurrencyTransactionGainLossRealized`	-	USD	Annual
Foreign Currency Gain (Loss)	`ForeignCurrencyTransactionGainLossRealized`	$-524.00	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$996.00	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$806.00	USD	Annual
Interest Expense	`InterestExpense`	$31.56K	USD	Annual
Interest Expense	`InterestExpense`	$79.76K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-79.48K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-30.57K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.42M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.92M	USD	Annual
BENEFIT (PROVISION) FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$-82.50K	USD	Annual
BENEFIT (PROVISION) FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$47.03K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-3.84M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-4.46M	USD	Annual
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.28	USD	Annual
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	Annual
WEIGHTED AVERAGE SHARES (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.85M	shares	Annual
WEIGHTED AVERAGE SHARES (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.08M	shares	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-3.84M	USD	Annual
Net Loss	`NetIncomeLoss`	$-4.46M	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$218.23K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$255.69K	USD	Annual
Stock Compensation	`ShareBasedCompensation`	$515.42K	USD	Annual
Stock Compensation	`ShareBasedCompensation`	$248.07K	USD	Annual
Common stock issued for services	`CommonSharesIssuedForServices`	$123.94K	USD	Annual
Common stock issued for services	`CommonSharesIssuedForServices`	$518.00K	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	$955.71K	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Provision for obsolete inventory	`InventoryWriteDown`	$20.58K	USD	Annual
Provision for obsolete inventory	`InventoryWriteDown`	$28.48K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$30.00K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$970.34K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$68.38K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-20.53K	USD	Annual
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$516.90K	USD	Annual
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$237.77K	USD	Annual
Accounts and Other Payables	`IncreaseDecreaseInAccountsPayable`	$335.98K	USD	Annual
Accounts and Other Payables	`IncreaseDecreaseInAccountsPayable`	$1.45M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.33M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.11M	USD	Annual
Cash Acquired in Acquisition	`CashAcquiredFromAcquisition`	-	USD	Annual
Cash Acquired in Acquisition	`CashAcquiredFromAcquisition`	$740.56K	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$153.57K	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$338.82K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-338.82K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$586.99K	USD	Annual
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$385.11K	USD	Annual
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$41.72K	USD	Annual
Proceeds from (Payments on) Short-term Notes Payable/Debt	`ProceedsFromNotesPayable`	$604.86K	USD	Annual
Proceeds from (Payments on) Short-term Notes Payable/Debt	`ProceedsFromNotesPayable`	$-45.20K	USD	Annual
Proceeds from (Payments to) Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$90.00K	USD	Annual
Proceeds from (Payments to) Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$456.99K	USD	Annual
Proceeds from (Payments on) Long-term Debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$52.68K	USD	Annual
Proceeds from (Payments on) Long-term Debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-39.66K	USD	Annual
Common Stock Issued, net of Costs of Capital	`ProceedsFromIssuanceOfCommonStock`	$2.08M	USD	Annual
Common Stock Issued, net of Costs of Capital	`ProceedsFromIssuanceOfCommonStock`	$2.19M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.04M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.92M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$12.02K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-22.98K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$495.02K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-735.90K	USD	Annual
Cash and Cash Equivalents - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$355.34K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$114.46K	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`	$355.34K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$114.46K	USD	Point-in-time
Debt Converted to Stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Debt Converted to Stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Interest Paid	`InterestPaid`	$79.76K	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`	-	USD	Annual

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.18M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$517.95K	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$2.44M	USD	Point-in-time
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$103.50K	USD	Annual
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$317.46K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$248.07K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$515.42K	USD	Annual
Stock Value of MEGAsys	`StockIssuedDuringPeriodValueAcquisitions`	$1.67M	USD	Annual
Contingent Consideration	`AdjustmentsToAdditionalPaidInCapitalOther`	$1.64M	USD	Annual
Debt Discount	`AdjustmentsToAdditionalPaidInCapitalOriginalIssueDiscount`	$18.10K	USD	Annual
Debt Discount	`AdjustmentsToAdditionalPaidInCapitalOriginalIssueDiscount`	$40.20K	USD	Annual
Net Loss	`NetIncomeLoss`	$-3.84M	USD	Annual
Net Loss	`NetIncomeLoss`	$-4.46M	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$22.28K	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-45.91K	USD	Annual
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-3.82M	USD	Annual
Total Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-4.51M	USD	Annual
Ending Balance	`StockholdersEquity`	$1.18M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$517.95K	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$2.44M	USD	Point-in-time

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