$IVDA
Iveda Solutions, Inc.

2014 Q4 Form 10-Q Financial Statement

#000114420414068393 Filed on November 14, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $970.0K $489.0K $1.370M
YoY Change -29.2% -14.05% -6.16%
Cost Of Revenue $690.0K $397.2K $1.060M
YoY Change -34.91% -15.85% -29.33%
Gross Profit $280.0K $91.84K $310.0K
YoY Change -9.68% -5.25% -875.0%
Gross Profit Margin 28.87% 18.78% 22.63%
Selling, General & Admin $1.250M $6.570M
YoY Change -80.97% 379.56%
% of Gross Profit 446.43% 2119.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K $50.00K
YoY Change 20.0% 0.0% 25.0%
% of Gross Profit 21.43% 65.33% 16.13%
Operating Expenses $1.260M $1.220M $2.050M
YoY Change -38.54% -25.85% 49.64%
Operating Profit -$980.0K -$1.128M -$1.740M
YoY Change -43.68% -27.14% 23.4%
Interest Expense -$150.0K $140.1K $50.00K
YoY Change -400.0% 763.54% -266.67%
% of Operating Profit
Other Income/Expense, Net -$73.04K $0.00
YoY Change 194.14%
Pretax Income -$1.460M -$1.201M -$2.530M
YoY Change -42.29% -23.65% 74.48%
Income Tax $0.00 $38.00 -$70.00K
% Of Pretax Income
Net Earnings -$1.460M -$1.201M -$2.460M
YoY Change -40.65% -23.65% 80.88%
Net Earnings / Revenue -150.52% -245.68% -179.56%
Basic Earnings Per Share
Diluted Earnings Per Share -$53.46K -$43.94K -$93.18K
COMMON SHARES
Basic Shares Outstanding 27.31M shares 27.31M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $250.0K $280.0K $560.0K
YoY Change -55.36% -74.07% 5.66%
Cash & Equivalents $87.90K $280.0K $559.7K
Short-Term Investments $160.0K
Other Short-Term Assets $647.7K $1.690M $161.3K
YoY Change 301.61% 332.22% -75.03%
Inventory $387.9K $440.0K $331.4K
Prepaid Expenses
Receivables $358.8K $330.0K $372.6K
Other Receivables $110.0K $0.00 $0.00
Total Short-Term Assets $2.461M $2.730M $2.586M
YoY Change -4.81% -11.17% -21.39%
LONG-TERM ASSETS
Property, Plant & Equipment $532.5K $560.0K $471.2K
YoY Change 13.02% 24.11% -8.86%
Goodwill $0.00
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments $50.00K
YoY Change
Other Assets $364.3K $400.0K $475.7K
YoY Change -23.41% 300.0% 350.38%
Total Long-Term Assets $1.023M $1.090M $1.094M
YoY Change -6.4% -29.58% -32.92%
TOTAL ASSETS
Total Short-Term Assets $2.461M $2.730M $2.586M
Total Long-Term Assets $1.023M $1.090M $1.094M
Total Assets $3.485M $3.820M $3.679M
YoY Change -5.28% -17.34% -25.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.166M $2.170M $2.359M
YoY Change -8.16% 20.98% -3.99%
Accrued Expenses $970.0K $1.651M
YoY Change -41.26% -1.36%
Deferred Revenue
YoY Change
Short-Term Debt $1.081M $970.0K $60.29K
YoY Change 1692.14% 1014.94% -92.48%
Long-Term Debt Due $34.61K $70.00K $164.2K
YoY Change -78.92% -63.16% -316.83%
Total Short-Term Liabilities $3.968M $3.710M $2.723M
YoY Change 45.74% 71.28% -25.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $3.400M $364.4K
YoY Change -100.0% 5566.67% 438.25%
Other Long-Term Liabilities $270.0K $160.0K $70.00K
YoY Change 285.71%
Total Long-Term Liabilities $0.00 $3.560M $364.4K
YoY Change -100.0% 5833.33% 438.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.968M $3.710M $2.723M
Total Long-Term Liabilities $0.00 $3.560M $364.4K
Total Liabilities $3.968M $7.270M $3.087M
YoY Change 28.54% 226.01% -17.43%
SHAREHOLDERS EQUITY
Retained Earnings -$27.49M -$21.80M
YoY Change 26.09% 45.34%
Common Stock $27.26M $22.35M
YoY Change 21.95% 37.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$756.4K -$3.450M $521.8K
YoY Change
Total Liabilities & Shareholders Equity $3.485M $3.820M $3.679M
YoY Change -5.28% -17.34% -25.21%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income -$1.460M -$1.201M -$2.460M
YoY Change -40.65% -23.65% 80.88%
Depreciation, Depletion And Amortization $60.00K $60.00K $50.00K
YoY Change 20.0% 0.0% 25.0%
Cash From Operating Activities -$800.0K -$1.000M -$770.0K
YoY Change 3.9% 7.53% -30.63%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$40.00K -$70.00K
YoY Change -71.43% 100.0% -240.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$30.00K -$30.00K -$70.00K
YoY Change -57.14% 50.0% -240.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 640.0K 630.0K 330.0K
YoY Change 93.94% 6.78% -23.26%
NET CHANGE
Cash From Operating Activities -800.0K -1.000M -770.0K
Cash From Investing Activities -30.00K -30.00K -70.00K
Cash From Financing Activities 640.0K 630.0K 330.0K
Net Change In Cash -190.0K -400.0K -510.0K
YoY Change -62.75% 11.11% -19.05%
FREE CASH FLOW
Cash From Operating Activities -$800.0K -$1.000M -$770.0K
Capital Expenditures -$20.00K -$40.00K -$70.00K
Free Cash Flow -$780.0K -$960.0K -$700.0K
YoY Change 11.43% 5.49% -39.66%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
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CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1201337 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15917 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
38 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-7757 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-5457 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1022 USD
CY2014Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-5490 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4347166 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4201164 USD
CY2013Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1572447 USD
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1206865 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
169164 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
165248 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
24946 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
0 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
54830 USD
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
-44000 USD
us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
101444 USD
us-gaap Share Based Compensation
ShareBasedCompensation
126813 USD
us-gaap Share Based Compensation
ShareBasedCompensation
242000 USD
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
-222206 USD
us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
-1285 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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4699 USD
us-gaap Increase Decrease In Accounts Receivable
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-1410678 USD
us-gaap Increase Decrease In Accounts Receivable
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-35706 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-438889 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2835549 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4230581 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
89897 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
245437 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-89897 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-244145 USD
us-gaap Increase Decrease In Restricted Cash
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441724 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-5287 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
244574 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8636 USD
us-gaap Proceeds From Repayments Of Related Party Debt
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-236605 USD
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
88000 USD
us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
0 USD
us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
2960663 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6987 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2536 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
98978 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4913216 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-21084 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3885960 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4192615 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
7377 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-1918 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
967891 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-284029 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
114462 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1082353 USD
us-gaap Interest Paid
InterestPaid
49390 USD
us-gaap Interest Paid
InterestPaid
31456 USD
ivda Discount On Convertible Debt
DiscountOnConvertibleDebt
0 USD
ivda Discount On Convertible Debt
DiscountOnConvertibleDebt
113474 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
0 USD
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
126904 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
13430 USD
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
Iveda Solutions, Inc.
dei Entity Central Index Key
EntityCentralIndexKey
0001397183
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Trading Symbol
TradingSymbol
IVDA
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
27308357 shares
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
3600000 USD
us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
1 pure
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
1292 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-586514 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
922627 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
78860 USD
ivda Proceeds From Short Term Debt Related Party
ProceedsFromShortTermDebtRelatedParty
0 USD
ivda Proceeds From Short Term Debt Related Party
ProceedsFromShortTermDebtRelatedParty
330000 USD

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