10-K Filing

IVEDA SOLUTIONS, INC. CIK: 1397183 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001493152-23-010283`
Period End Date	20221231
Filing Date	20230331
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	form10-k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 30 Cash Flow Statement 72 Stockholders Equity 34

Balance Sheet 59 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`	$1.39M	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.31M	USD	Point-in-time
Restricted Cash	`RestrictedCashCurrent`	$142.69K	USD	Point-in-time
Restricted Cash	`RestrictedCashCurrent`	$129.53K	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$1.22M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Accounts Receivable, Net	`AccountsReceivableNetCurrent`	$492.75K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory, Net	`InventoryNet`	$344.65K	USD	Point-in-time
Inventory, Net	`InventoryNet`	$526.47K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$310.66K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.67M	shares	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$371.99K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.67M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	15.07M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.68M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$9.56M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$38.19K	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$32.91K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$273.42K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$267.39K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$267.39K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrentOtherThanNoncurrentInvestmentsAndPropertyPlantAndEquipment`	$273.42K	USD	Point-in-time
Total Assets	`Assets`	$2.99M	USD	Point-in-time
Total Assets	`Assets`	$9.86M	USD	Point-in-time
Accounts and Other Payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$1.64M	USD	Point-in-time
Accounts and Other Payables	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$2.96M	USD	Point-in-time
Due to Related Parties	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Due to Related Parties	`DueToRelatedPartiesCurrent`	$300.00K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$50.00K	USD	Point-in-time
Short Term Debt	`ShortTermBorrowings`	$398.41K	USD	Point-in-time
Current Portion of Long-Term Debt	`LongTermDebtCurrent`	$65.41K	USD	Point-in-time
Current Portion of Long-Term Debt	`LongTermDebtCurrent`	$120.28K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.43M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.10M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebt`	$190.78K	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebt`	$338.80K	USD	Point-in-time
LONG-TERM DIVIDENDS PAYABLE	`LongTermDividendPayable`	-	USD	Point-in-time
LONG-TERM DIVIDENDS PAYABLE	`LongTermDividendPayable`	-	USD	Point-in-time
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 15,066,739 and 9,668,369 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$150.00	USD	Point-in-time
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 15,066,739 and 9,668,369 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$97.00	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$40.73M	USD	Point-in-time
Additional Paid-In Capital	`AdditionalPaidInCapital`	$52.50M	USD	Point-in-time
Accumulated Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-143.49K	USD	Point-in-time
Accumulated Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-220.64K	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-41.36M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-44.71M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$7.57M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-777.28K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-3.71M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$9.86M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$2.99M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
TOTAL REVENUE	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.92M	USD	Annual
TOTAL REVENUE	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.47M	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$1.09M	USD	Annual
COST OF REVENUE	`CostOfRevenue`	$3.50M	USD	Annual
GROSS PROFIT	`GrossProfit`	$963.50K	USD	Annual
GROSS PROFIT	`GrossProfit`	$832.25K	USD	Annual
General & Administrative	`SellingGeneralAndAdministrativeExpense`	$3.56M	USD	Annual
General & Administrative	`SellingGeneralAndAdministrativeExpense`	$4.29M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$4.29M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$3.56M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-3.33M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-2.73M	USD	Annual
Miscellaneous Income (Expense)	`MiscellaneousIncomeExpense`	-	USD	Annual
Miscellaneous Income (Expense)	`MiscellaneousIncomeExpense`	$-17.08K	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$354.00	USD	Annual
Interest Income	`InvestmentIncomeInterest`	$57.40K	USD	Annual
Interest Expense	`InterestExpense`	$53.32K	USD	Annual
Interest Expense	`InterestExpense`	$273.65K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-13.00K	USD	Annual
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-273.30K	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.00M	USD	Annual
LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-3.34M	USD	Annual
BENEFIT (PROVISION) FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$2.95K	USD	Annual
BENEFIT (PROVISION) FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	-	USD	Annual
NET LOSS	`NetIncomeLoss`	$-3.35M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-3.00M	USD	Annual
BASIC AND DILUTED LOSS PER SHARE	`EarningsPerShareBasic`	$-0.26	USD	Annual
BASIC AND DILUTED LOSS PER SHARE	`EarningsPerShareBasic`	$-0.34	USD	Annual
WEIGHTED AVERAGE SHARES	`WeightedAverageNumberOfSharesOutstandingBasic`	8.94M	shares	Annual
WEIGHTED AVERAGE SHARES	`WeightedAverageNumberOfSharesOutstandingBasic`	12.85M	shares	Annual

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-3.35M	USD	Annual
Net Loss	`NetIncomeLoss`	$-3.00M	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$15.02K	USD	Annual
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$17.80K	USD	Annual
Interest Value of Convertible Debt Issued	`InterestValueOfConvertibleDebtIssued`	$69.73K	USD	Annual
Interest Value of Convertible Debt Issued	`InterestValueOfConvertibleDebtIssued`	-	USD	Annual
Stock Option Compensation	`StockOptionPlanExpense`	$801.91K	USD	Annual
Stock Option Compensation	`StockOptionPlanExpense`	$120.58K	USD	Annual
Common Stock Warrants Issued for Services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$5.55K	USD	Annual
Common Stock Warrants Issued for Services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$148.48K	USD	Annual
Common Stock Warrants Issued for Interest	`CommonStockWarrantsIssuedForInterestValue`	$69.73K	USD	Annual
Common Stock Warrants Issued for Interest	`CommonStockWarrantsIssuedForInterestValue`	-	USD	Annual
Common Stock issued for Services	`IssuanceOfStockIssuedForServices`	$219.90K	USD	Annual
Common Stock issued for Services	`IssuanceOfStockIssuedForServices`	-	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$785.97K	USD	Annual
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$266.14K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$122.79K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$214.90K	USD	Annual
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$168.12K	USD	Annual
Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$100.23K	USD	Annual
Other Assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$19.92K	USD	Annual
Other Assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$41.80K	USD	Annual
Increase (Decrease) in Accounts and Other Payables	`IncreaseDecreaseInOtherAccountsPayable`	$452.64K	USD	Annual
Increase (Decrease) in Accounts and Other Payables	`IncreaseDecreaseInOtherAccountsPayable`	$-1.24M	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.41M	USD	Annual
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.97M	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.51K	USD	Annual
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.16K	USD	Annual
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.51K	USD	Annual
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.16K	USD	Annual
Changes in Restricted Cash	`ProceedsFromRepaymentsOfChangesInRestrictedCash`	$22.46K	USD	Annual
Changes in Restricted Cash	`ProceedsFromRepaymentsOfChangesInRestrictedCash`	$-214.00	USD	Annual
Proceeds from (Payments on) Short-Term Notes Payable/Debt	`ProceedsFromRepaymentsOfShortTermDebt`	$-11.24K	USD	Annual
Proceeds from (Payments on) Short-Term Notes Payable/Debt	`ProceedsFromRepaymentsOfShortTermDebt`	$358.89K	USD	Annual
Proceeds from (Payments to) Due to Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-82.71K	USD	Annual
Proceeds from (Payments to) Due to Related Parties	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-300.00K	USD	Annual
Proceeds from (Payments to) Long-Term Debt	`ProceedsFromRepaymentsOfNotesPayable`	$459.09K	USD	Annual
Proceeds from (Payments to) Long-Term Debt	`ProceedsFromRepaymentsOfNotesPayable`	$-164.09K	USD	Annual
Payments for Deferred Finance Costs	`PaymentsForProceedsFromFinancingAndStockIssuanceCosts`	-	USD	Annual
Payments for Deferred Finance Costs	`PaymentsForProceedsFromFinancingAndStockIssuanceCosts`	$88.33K	USD	Annual
Common Stock Issued, Net of (Cost of Capital)	`ProceedsFromIssuanceOfCommonStock`	$11.51M	USD	Annual
Common Stock Issued, Net of (Cost of Capital)	`ProceedsFromIssuanceOfCommonStock`	$2.82M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$11.41M	USD	Annual
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$3.12M	USD	Annual
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-56.62K	USD	Annual
EFFECT OF EXCHANGE RATE CHANGES ON CASH	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.76K	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.14M	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.93M	USD	Annual
Cash and Cash Equivalents- Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.39M	USD	Point-in-time
Cash and Cash Equivalents- Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$249.52K	USD	Point-in-time
Cash and Cash Equivalents- Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.31M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.39M	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$249.52K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$7.31M	USD	Point-in-time
Interest Paid	`InterestPaidNet`	$337.57K	USD	Annual
Interest Paid	`InterestPaidNet`	$2.56K	USD	Annual
Income Tax Paid	`IncomeTaxesPaidNet`	-	USD	Annual
Income Tax Paid	`IncomeTaxesPaidNet`	-	USD	Annual
Debenture Principal converted to Common Stock	`NotesIssued1`	-	USD	Annual
Debenture Principal converted to Common Stock	`NotesIssued1`	$934.75K	USD	Annual
Debenture Accrued Interest converted to Common Stock	`DebentureAccruedInterestConvertedToCommonStock`	$359.83K	USD	Annual
Debenture Accrued Interest converted to Common Stock	`DebentureAccruedInterestConvertedToCommonStock`	-	USD	Annual
Rent Accounts Payable to related Party converted to Common Stock	`RentAccountsPayableToRelatedPartyConvertedToCommonStock`	-	USD	Annual
Rent Accounts Payable to related Party converted to Common Stock	`RentAccountsPayableToRelatedPartyConvertedToCommonStock`	$55.79K	USD	Annual
Accounts Payable converted to Common Stock	`ConversionOfStockAmountConverted1`	$44.00K	USD	Annual
Accounts Payable converted to Common Stock	`ConversionOfStockAmountConverted1`	-	USD	Annual
Common Stock issued for Consulting Agreements related to Cost of Capital	`StockIssued1`	-	USD	Annual
Common Stock issued for Consulting Agreements related to Cost of Capital	`StockIssued1`	$1.93M	USD	Annual
Dividends Paid with Series B Preferred Stock	`DividendsPaidWithSeriesBPreferredStock`	-	USD	Annual
Dividends Paid with Series B Preferred Stock	`DividendsPaidWithSeriesBPreferredStock`	-	USD	Annual
Accrued Dividends converted to Common Stock	`AccruedDividendsConvertedToCommonStock`	$455.93K	USD	Annual
Accrued Dividends converted to Common Stock	`AccruedDividendsConvertedToCommonStock`	-	USD	Annual

Stockholders Equity 34 line items

Line Item	Tag	Value	Unit	Period
Balance, value	`StockholdersEquity`	$7.57M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-777.28K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-3.71M	USD	Point-in-time
Common Stock Offering for Cash	`StockIssuedDuringPeriodValueNewIssues`	$2.66M	USD	Annual
Common Stock Offering for Cash	`StockIssuedDuringPeriodValueNewIssues`	$8.01M	USD	Annual
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedOwnshareLendingArrangementIssuanceCosts`	$-1.16M	USD	Annual
Costs of Capital	`AdjustmentsToAdditionalPaidInCapitalStockIssuedOwnshareLendingArrangementIssuanceCosts`	$-2.09M	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$801.91K	USD	Annual
Stock Based Compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$120.58K	USD	Annual
Common Stock for Accounts Payable	`StockIssuedDuringPeriodValueOther`	$99.79K	USD	Annual
Common Stock for Costs of Financing	`StockIssuedDuringPeriodValueCommonStockForCostsOfFinancing`	$1.93M	USD	Annual
Warrants for Services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$5.55K	USD	Annual
Warrants for Services	`AdjustmentsToAdditionalPaidInCapitalWarrantIssued`	$148.48K	USD	Annual
Warrants for Interest Expense	`AdjustmentsToAdditionalPaidInCapitalWarrantsForInterestExpense`	$69.73K	USD	Annual
Convertible Debenture Value	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebentureValuation`	$69.73K	USD	Annual
Preferred Stock - Series B for Dividend	`DividendsPreferredStockStock`	$23.75K	USD	Annual
Preferred Stock - Series B Shares and Dividend Payable to Common Stock	`DividendsCommonStock`	$432.18K	USD	Annual
Dividends - P/S Series B	`AdditionalPaidInCapitalAccumulatedDeficitDividendsPreferredStockStock`	$-40.30K	USD	Annual
Conversion of Debt & Interest to Common Stock	`StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesInterestToCommonStock`	$1.29M	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$23.00K	USD	Annual
Exercise of options and warrants	`StockIssuedDuringPeriodValueStockOptionsExercised`	$514.70K	USD	Annual
Exercise of options and warrants, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	62,500.00	shares	Annual
Exercise of options and warrants, shares	`StockIssuedDuringPeriodSharesStockOptionsExercised`	-	shares	Annual
Net Loss	`NetIncomeLoss`	$-3.35M	USD	Annual
Net Loss	`NetIncomeLoss`	$-3.00M	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$-77.15K	USD	Annual
Comprehensive Loss	`OtherComprehensiveIncomeLossNetOfTax`	$9.76K	USD	Annual
Common Stock issued for conversion error	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	Annual
Common Stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$219.90K	USD	Annual
Common Stock and Pre-Funded Warrant Offering for Cash August 2022	`CommonStockAndPrefundedWarrantOffering`	$5.00M	USD	Annual
Warrants sold in Over allotment	`AdjustmentsToAdditionalPaidInCapitalWarrantsSoldInOverAllotment`	$2.80K	USD	Annual
Balance, value	`StockholdersEquity`	$7.57M	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-777.28K	USD	Point-in-time
Balance, value	`StockholdersEquity`	$-3.71M	USD	Point-in-time

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