10-Q Filing

IVEDA SOLUTIONS, INC. CIK: 1397183 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001144204-14-031833`
Period End Date	20140331
Filing Date	20140519
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	ivda-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 34 Cash Flow Statement 57 Comprehensive Income 6

Balance Sheet 70 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`	$559.73K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.46K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$914.83K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.71M	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.10M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$1.16M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts Receivable, net	`AccountsReceivableNetCurrent`	$354.93K	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`	$372.59K	USD	Point-in-time
Inventory	`InventoryNet`	$331.44K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.72M	shares	Point-in-time
Inventory	`InventoryNet`	$394.43K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	26.78M	shares	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$295.20K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.72M	shares	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$426.94K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.78M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.72M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.19M	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$480.97K	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$558.33K	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$471.18K	USD	Point-in-time
Intangible Assets, Net	`OtherIntangibleAssetsNet`	$141.67K	USD	Point-in-time
Intangible Assets, Net	`OtherIntangibleAssetsNet`	$146.67K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$341.75K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$388.45K	USD	Point-in-time
Total Other Assets	`PrepaidExpenseAndOtherAssets`	$530.12K	USD	Point-in-time
Total Other Assets	`PrepaidExpenseAndOtherAssets`	$488.42K	USD	Point-in-time
Total Assets	`Assets`	$3.68M	USD	Point-in-time
Total Assets	`Assets`	$4.28M	USD	Point-in-time
Total Assets	`Assets`	$5.66M	USD	Point-in-time
Accounts Payable and Other Current Liabilities	`AccountsPayableCurrent`	$2.36M	USD	Point-in-time
Accounts Payable and Other Current Liabilities	`AccountsPayableCurrent`	$2.25M	USD	Point-in-time
Due to Related Parties	`DueToRelatedPartiesCurrent`	$100.00K	USD	Point-in-time
Due to Related Parties	`DueToRelatedPartiesCurrent`	$100.00K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$60.29K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$522.52K	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	$39.80K	USD	Point-in-time
Derivative Liability	`DerivativeLiabilitiesCurrent`	$83.88K	USD	Point-in-time
Current Portion of Long-Term Debt	`OtherLongTermDebtCurrent`	$164.16K	USD	Point-in-time
Current Portion of Long-Term Debt	`OtherLongTermDebtCurrent`	$139.56K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.72M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.10M	USD	Point-in-time
LONG TERM DEBT AND CONVERTIBLE DEBENTURES, Net of Discount	`LongTermDebtNoncurrent`	$1.85M	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`	$118.17K	USD	Point-in-time
DUE TO RELATED PARTY, Net of Discount	`DueToRelatedPartiesNoncurrent`	$70.11K	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares authorized; no shares outstanding as of March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, $0.00001 par value; 100,000,000 shares authorized; no shares outstanding as of March 31, 2014 and December 31, 2013	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.00001 par value; 200,000,000 shares authorized; 26,778,357 and 26,722,012 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$267.00	USD	Point-in-time
Common Stock, $0.00001 par value; 200,000,000 shares authorized; 26,778,357 and 26,722,012 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively	`CommonStockValue`	$268.00	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapitalCommonStock`	$22.46M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapitalCommonStock`	$22.35M	USD	Point-in-time
Accumulated Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-30.67K	USD	Point-in-time
Accumulated Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-32.47K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-23.21M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-21.80M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-783.92K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$521.81K	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$4.28M	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$3.68M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Equipment Sales	`EquipmentSales`	$210.31K	USD	1 Quarter
Equipment Sales	`EquipmentSales`	$435.83K	USD	1 Quarter
Service Revenue	`SalesRevenueServicesNet`	$169.01K	USD	1 Quarter
Service Revenue	`SalesRevenueServicesNet`	$158.80K	USD	1 Quarter
Other Revenue	`OtherSalesRevenueNet`	$10.38K	USD	1 Quarter
Other Revenue	`OtherSalesRevenueNet`	$5.75K	USD	1 Quarter
TOTAL REVENUE	`Revenues`	$615.22K	USD	1 Quarter
TOTAL REVENUE	`Revenues`	$374.86K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$564.95K	USD	1 Quarter
COST OF REVENUE	`CostOfRevenue`	$210.53K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$164.33K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$50.27K	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$1.53M	USD	1 Quarter
OPERATING EXPENSES	`OperatingExpenses`	$1.27M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.36M	USD	1 Quarter
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.22M	USD	1 Quarter
Foreign Currency Gain (Loss)	`ForeignCurrencyTransactionGainLossRealized`	$-189.00	USD	1 Quarter
Foreign Currency Gain (Loss)	`ForeignCurrencyTransactionGainLossRealized`	$2.23K	USD	1 Quarter
Gain (Loss) on Derivatives and Conversion of Debt	`DerivativeGainLossOnDerivativeNet`	$11.60K	USD	1 Quarter
Gain (Loss) on Derivatives and Conversion of Debt	`DerivativeGainLossOnDerivativeNet`	$-16.50K	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	$3.00	USD	1 Quarter
Interest Income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	$18.73K	USD	1 Quarter
Interest Expense	`InterestExpense`	$56.00K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-42.17K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-35.42K	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.26M	USD	1 Quarter
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.41M	USD	1 Quarter
BENEFIT FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
BENEFIT FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.26M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
BASIC AND DILUTED LOSS PER SHARE (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.26M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$57.08K	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$54.32K	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$-880.00	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of Deferred Financing Costs	`AmortizationOfFinancingCosts`	$19.24K	USD	1 Quarter
(Gain) Loss on Derivatives and Conversion of Debt	`Lossfromconversionofdebt`	$16.50K	USD	1 Quarter
(Gain) Loss on Derivatives and Conversion of Debt	`Lossfromconversionofdebt`	$-11.60K	USD	1 Quarter
Stock Compensation	`ShareBasedCompensation`	$40.00K	USD	1 Quarter
Stock Compensation	`ShareBasedCompensation`	$96.00K	USD	1 Quarter
Common Stock Issued for Services	`CommonSharesIssuedForServices`	$13.38K	USD	1 Quarter
Common Stock Issued for Services	`CommonSharesIssuedForServices`	-	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.26M	USD	1 Quarter
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$38.28K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$66.05K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$38.20K	USD	1 Quarter
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$135.47K	USD	1 Quarter
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-165.02K	USD	1 Quarter
Accounts Payable and Other Current Liabilities	`IncreaseDecreaseInAccountsPayable`	$-423.57K	USD	1 Quarter
Accounts Payable and Other Current Liabilities	`IncreaseDecreaseInAccountsPayable`	$-23.64K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-1.51M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-167.94K	USD	1 Quarter
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$137.13K	USD	1 Quarter
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$16.66K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-137.13K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-16.66K	USD	1 Quarter
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$645.51K	USD	1 Quarter
Changes in Restricted Cash	`IncreaseDecreaseInRestrictedCash`	$-42.42K	USD	1 Quarter
Proceeds from (Payments on) Short-Term Notes Payable/Debt	`ProceedsFromNotesPayable`	$-313.50K	USD	1 Quarter
Proceeds from (Payments on) Short-Term Notes Payable/Debt	`ProceedsFromNotesPayable`	$2.12M	USD	1 Quarter
Proceeds from Exercise of Stock Options	`ProceedsFromStockOptionsExercised`	$42.00K	USD	1 Quarter
Proceeds from Exercise of Stock Options	`ProceedsFromStockOptionsExercised`	$5.63K	USD	1 Quarter
Proceeds from (Payments to) Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$4.60K	USD	1 Quarter
Proceeds from (Payments to) Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-70.11K	USD	1 Quarter
Proceeds from (Payments on) Long-Term Debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-22.61K	USD	1 Quarter
Proceeds from (Payments on) Long-Term Debt	`ProceedsFromRepaymentsOfOtherLongTermDebt`	$-20.06K	USD	1 Quarter
Deferred Finance Costs (Net)	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Deferred Finance Costs (Net)	`PaymentsOfFinancingCosts`	$64.07K	USD	1 Quarter
Common Stock Issued, net of Cost of Capital	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Common Stock Issued, net of Cost of Capital	`ProceedsFromIssuanceOfCommonStock`	$2.71M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$2.01M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.78M	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.74K	USD	1 Quarter
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-5.23K	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.59M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$355.11K	USD	1 Quarter
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$559.73K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$114.46K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$914.83K	USD	Point-in-time
Cash and Cash Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$1.71M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$559.73K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$114.46K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$914.83K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.71M	USD	Point-in-time
Interest Paid	`InterestPaid`	$32.10K	USD	1 Quarter
Interest Paid	`InterestPaid`	$18.73K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.26M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.41M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-1.80K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax`	$-1.50K	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-1.26M	USD	1 Quarter
Comprehensive Loss	`ComprehensiveIncomeNetOfTax`	$-1.41M	USD	1 Quarter

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