10-K Filing

IVEDA SOLUTIONS, INC. CIK: 1397183 FY 2013

Filing Information

Form Type	10-K
Accession Number	`0001144204-14-019230`
Period End Date	20131231
Filing Date	20140331
Fiscal Year	2013
Fiscal Period	FY
XBRL Instance	ivda-20131231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 70 Stockholders Equity 19 Comprehensive Income 6

Balance Sheet 68 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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$850.36K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.46K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$559.73K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$447.21K	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$372.59K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	20.46M	shares	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.96M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.72M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	20.46M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.72M	shares	Point-in-time
Inventory	`InventoryNet`	$331.44K	USD	Point-in-time
Inventory	`InventoryNet`	$123.02K	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$645.73K	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$295.20K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.72M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.29M	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$471.18K	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$516.98K	USD	Point-in-time
Intangible Assets, Net	`OtherIntangibleAssetsNet`	$166.67K	USD	Point-in-time
Intangible Assets, Net	`OtherIntangibleAssetsNet`	$146.67K	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$841.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$105.62K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$341.75K	USD	Point-in-time
Total Other Assets	`PrepaidExpenseAndOtherAssets`	$488.42K	USD	Point-in-time
Total Other Assets	`PrepaidExpenseAndOtherAssets`	$1.11M	USD	Point-in-time
Total Assets	`Assets`	$4.92M	USD	Point-in-time
Total Assets	`Assets`	$3.68M	USD	Point-in-time
Accounts and Other Payables	`AccountsPayableCurrent`	$2.36M	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`	$100.00K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$802.12K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$60.29K	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	$39.80K	USD	Point-in-time
Current Portion of Long-Term Debt	`OtherLongTermDebtCurrent`	$75.71K	USD	Point-in-time
Current Portion of Long-Term Debt	`OtherLongTermDebtCurrent`	$164.16K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.72M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.67M	USD	Point-in-time
LONG-TERM DEBT AND CONVERTIBLE DEBENTURES, Net of Discount	`LongTermDebtNoncurrent`	$67.69K	USD	Point-in-time
LONG-TERM DEBT AND CONVERTIBLE DEBENTURES, Net of Discount	`LongTermDebtNoncurrent`	$364.37K	USD	Point-in-time
DUE TO RELATED PARTY, Net of discount	`DueToRelatedPartiesNoncurrent`	$70.11K	USD	Point-in-time
DUE TO RELATED PARTY, Net of discount	`DueToRelatedPartiesNoncurrent`	-	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; 26,722,012 and 20,458,048 shares issued and outstanding as of December 31, 2013 and 2012, respectively	`CommonStockValue`	$267.00	USD	Point-in-time
Common Stock, $0.00001 par value; 200,000,000 shares Authorized; 26,722,012 and 20,458,048 shares issued and outstanding as of December 31, 2013 and 2012, respectively	`CommonStockValue`	$204.00	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapitalCommonStock`	$22.35M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapitalCommonStock`	$16.20M	USD	Point-in-time
Accumulated Comprehensive Income (Loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-23.63K	USD	Point-in-time
Accumulated Comprehensive Income (Loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.67K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-21.80M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-15.00M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$2.44M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.18M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$521.81K	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$3.68M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$4.92M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Equipment Sales	`EquipmentSales`	$2.69M	USD	Annual
Equipment Sales	`EquipmentSales`	$2.82M	USD	Annual
Service Revenue	`SalesRevenueServicesNet`	$731.91K	USD	Annual
Service Revenue	`SalesRevenueServicesNet`	$608.16K	USD	Annual
Other Revenue	`OtherSalesRevenueNet`	$45.14K	USD	Annual
Other Revenue	`OtherSalesRevenueNet`	$61.94K	USD	Annual
Total Revenue	`Revenues`	$3.35M	USD	Annual
Total Revenue	`Revenues`	$3.61M	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$2.73M	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$3.23M	USD	Annual
GROSS PROFIT	`GrossProfit`	$615.87K	USD	Annual
GROSS PROFIT	`GrossProfit`	$378.50K	USD	Annual
General & Administrative	`GeneralAndAdministrativeExpense`	$4.22M	USD	Annual
General & Administrative	`GeneralAndAdministrativeExpense`	$6.57M	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	$841.00K	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-3.84M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-6.80M	USD	Annual
Foreign Currency Gain (Loss)	`ForeignCurrencyTransactionGainLossRealized`	$10.50K	USD	Annual
Foreign Currency Gain (Loss)	`ForeignCurrencyTransactionGainLossRealized`	$-524.00	USD	Annual
Loss on derivatives	`DerivativeLossOnDerivative`	$241.00	USD	Annual
Loss on derivatives	`DerivativeLossOnDerivative`	-	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$806.00	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$2.13K	USD	Annual
Interest Expense	`InterestExpense`	$83.62K	USD	Annual
Interest Expense	`InterestExpense`	$79.76K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-71.23K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-79.48K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.92M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-6.87M	USD	Annual
BENEFIT (PROVISION) FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$-69.34K	USD	Annual
BENEFIT (PROVISION) FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$-82.50K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-6.80M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-3.84M	USD	Annual
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.27	USD	Annual
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.20	USD	Annual
WEIGHTED AVERAGE SHARES (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	24.74M	shares	Annual
WEIGHTED AVERAGE SHARES (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	19.08M	shares	Annual

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-6.80M	USD	Annual
Net Loss	`NetIncomeLoss`	$-3.84M	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$221.90K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$218.23K	USD	Annual
Amortization of Debt Discount	`AmortizationOfFinancingCostsAndDiscounts`	-	USD	Annual
Amortization of Debt Discount	`AmortizationOfFinancingCostsAndDiscounts`	$9.10K	USD	Annual
Stock Compensation	`ShareBasedCompensation`	$248.07K	USD	Annual
Stock Compensation	`ShareBasedCompensation`	$336.40K	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	$349.20K	USD	Annual
Bad Debt Expense	`ProvisionForDoubtfulAccounts`	$38.17K	USD	Annual
Common stock issued for services	`CommonSharesIssuedForServices`	$123.94K	USD	Annual
Common stock issued for services	`CommonSharesIssuedForServices`	$222.21K	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	$841.00K	USD	Annual
Impairment of Goodwill	`GoodwillImpairmentLoss`	-	USD	Annual
Provision for obsolete inventory	`InventoryWriteDown`	-	USD	Annual
Provision for obsolete inventory	`InventoryWriteDown`	$28.48K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.18M	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$1.01M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$212.92K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$68.38K	USD	Annual
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$126.55K	USD	Annual
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$516.90K	USD	Annual
Accounts and Other Payables	`IncreaseDecreaseInAccountsPayable`	$366.51K	USD	Annual
Accounts and Other Payables	`IncreaseDecreaseInAccountsPayable`	$1.45M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.33M	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.61M	USD	Annual
Cash Acquired in Acquisition	`CashAcquiredFromAcquisition`	-	USD	Annual
Cash Acquired in Acquisition	`CashAcquiredFromAcquisition`	-	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$157.23K	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$338.82K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-338.82K	USD	Annual
Net cash (used in) investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-157.23K	USD	Annual
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$736.97K	USD	Annual
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$385.11K	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`	$-57.51K	USD	Annual
Proceeds from (Payments to) Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$456.99K	USD	Annual
Proceeds from (Payments to) Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-245.00K	USD	Annual
Proceeds from (Payments on) Long-term Debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-35.00K	USD	Annual
Proceeds from (Payments on) Long-term Debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$52.68K	USD	Annual
Deferred Finance Costs, Net	`PaymentsOfFinancingCosts`	$161.66K	USD	Annual
Deferred Finance Costs, Net	`PaymentsOfFinancingCosts`	-	USD	Annual
Proceeds from Exercise of Stock Options	`ProceedsFromStockOptionsExercised`	$245.34K	USD	Annual
Proceeds from Exercise of Stock Options	`ProceedsFromStockOptionsExercised`	-	USD	Annual
Common Stock Issued, net of Costs of Capital	`ProceedsFromIssuanceOfCommonStock`	$5.21M	USD	Annual
Common Stock Issued, net of Costs of Capital	`ProceedsFromIssuanceOfCommonStock`	$2.19M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.92M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$4.22M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$12.02K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.77K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$445.27K	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`	$114.46K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$559.73K	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`	$114.46K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF YEAR	`CashAndCashEquivalentsAtCarryingValue`	$559.73K	USD	Point-in-time
Common Stock issued for convertible debt and interest	`DebtConversionConvertedInstrumentAmount1`	-	USD	Annual
Common Stock issued for convertible debt and interest	`DebtConversionConvertedInstrumentAmount1`	$147.50K	USD	Annual
Interest Paid	`InterestPaid`	$79.76K	USD	Annual
Interest Paid	`InterestPaid`	$80.86K	USD	Annual
Establishment of derivative liability	`CapitalLeaseObligationsIncurred`	-	USD	Annual
Establishment of derivative liability	`CapitalLeaseObligationsIncurred`	$39.80K	USD	Annual
Discount on convertible debt	`DiscountOnConvertibleDebt`	-	USD	Annual
Discount on convertible debt	`DiscountOnConvertibleDebt`	$27.61K	USD	Annual
Issuance of common stock as consideration for payment of Loan payable	`IssuanceOfCommonStockAsConsiderationForPaymentOfLoanPayable`	-	USD	Annual
Issuance of common stock as consideration for payment of Loan payable	`IssuanceOfCommonStockAsConsiderationForPaymentOfLoanPayable`	$30.00K	USD	Annual
Common Stock warrants issued as deferred finance costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$11.96K	USD	Annual
Common Stock warrants issued as deferred finance costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	Annual

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$2.44M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.18M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$521.81K	USD	Point-in-time
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$606.32K	USD	Annual
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$317.46K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$336.40K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$248.07K	USD	Annual
Conversion of Debt to Stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$175.70K	USD	Annual
Debt Discount	`AdjustmentsToAdditionalPaidInCapitalOriginalIssueDiscount`	$40.20K	USD	Annual
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$245.34K	USD	Annual
Exercise of options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	252,190.00	shares	Annual
Exercise of options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	0.00	shares	Annual
Net Loss	`NetIncomeLoss`	$-6.80M	USD	Annual
Net Loss	`NetIncomeLoss`	$-3.84M	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$22.28K	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-7.04K	USD	Annual
Ending Balance	`StockholdersEquity`	$2.44M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.18M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$521.81K	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.80M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.84M	USD	Annual
Change in equity adjustment from foreign currency translation, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$22.98K	USD	Annual
Change in equity adjustment from foreign currency translation, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-7.04K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.81M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.82M	USD	Annual

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