$IVDA
Iveda Solutions, Inc.

2022 Q4 Form 10-Q Financial Statement

#000149315222032055 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $2.119M $1.467M $411.5K
YoY Change 245.58% 256.59% 47.88%
Cost Of Revenue $1.839M $1.113M $136.9K
YoY Change 505.59% 712.89% -69.39%
Gross Profit $279.6K $354.4K $274.6K
YoY Change -9.63% 29.09% -262.45%
Gross Profit Margin 13.2% 24.16% 66.73%
Selling, General & Admin $1.222M $1.032M $698.7K
YoY Change -19.38% 47.66% 69.88%
% of Gross Profit 436.96% 291.09% 254.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.660K $4.180K $7.480K
YoY Change -318.78% -44.12% 6.86%
% of Gross Profit 1.67% 1.18% 2.72%
Operating Expenses $1.222M $1.032M $698.7K
YoY Change -19.38% 47.66% 69.89%
Operating Profit -$942.2K -$677.3K -$424.2K
YoY Change -21.88% 59.68% -26.91%
Interest Expense $12.74K $15.18K -$29.28K
YoY Change -175.7% -151.83% -8.67%
% of Operating Profit
Other Income/Expense, Net -$17.50K $10.59K $0.00
YoY Change -25100.0% -100.0%
Pretax Income -$947.0K -$666.7K -$453.4K
YoY Change -22.56% 47.03% -24.44%
Income Tax -$50.00 -$60.00
% Of Pretax Income
Net Earnings -$946.9K -$666.6K -$453.4K
YoY Change -22.57% 47.02% -24.44%
Net Earnings / Revenue -44.69% -45.44% -110.2%
Basic Earnings Per Share -$0.04 -$0.05
Diluted Earnings Per Share -$0.06 -$57.09K -$52.99K
COMMON SHARES
Basic Shares Outstanding 14.97M shares 11.68M shares 8.557M shares
Diluted Shares Outstanding 14.97M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.312M $10.56M $1.231M
YoY Change 427.84% 757.19%
Cash & Equivalents $7.312M $10.56M $1.231M
Short-Term Investments
Other Short-Term Assets $372.0K $107.7K $674.5K
YoY Change 19.74% -84.03%
Inventory $526.5K $718.5K $458.6K
Prepaid Expenses
Receivables $1.223M $636.4K $76.06K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.563M $12.14M $2.441M
YoY Change 257.35% 397.51%
LONG-TERM ASSETS
Property, Plant & Equipment $32.91K $28.70K $28.90K
YoY Change -13.82% -0.69%
Goodwill
YoY Change
Intangibles $0.00 $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $267.4K $235.9K $172.8K
YoY Change -2.21% 36.55%
Total Long-Term Assets $300.3K $264.6K $201.7K
YoY Change -3.63% 31.22%
TOTAL ASSETS
Total Short-Term Assets $9.563M $12.14M $2.441M
Total Long-Term Assets $300.3K $264.6K $201.7K
Total Assets $9.863M $12.41M $2.642M
YoY Change 230.13% 369.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $360.4K $790.2K $3.353M
YoY Change 473.07% -76.44%
Accrued Expenses $1.243M $1.323M
YoY Change -56.15%
Deferred Revenue
YoY Change
Short-Term Debt $398.4K $1.245M $567.5K
YoY Change 696.82% 119.36%
Long-Term Debt Due $65.41K $104.8K $47.94K
YoY Change -45.62% 118.63%
Total Short-Term Liabilities $2.103M $3.792M $4.269M
YoY Change -38.63% -11.15%
LONG-TERM LIABILITIES
Long-Term Debt $190.8K $216.6K $67.92K
YoY Change -43.69% 218.92%
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $190.8K $216.6K $67.92K
YoY Change -43.69% 218.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.103M $3.792M $4.269M
Total Long-Term Liabilities $190.8K $216.6K $67.92K
Total Liabilities $2.293M $4.009M $4.337M
YoY Change -39.09% -7.55%
SHAREHOLDERS EQUITY
Retained Earnings -$44.71M -$43.76M -$43.00M
YoY Change 8.09% 1.77%
Common Stock $150.00 $150.00
YoY Change 54.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.570M $8.398M -$1.694M
YoY Change
Total Liabilities & Shareholders Equity $9.863M $12.41M $2.642M
YoY Change 230.13% 369.56%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$946.9K -$666.6K -$453.4K
YoY Change -22.57% 47.02% -24.44%
Depreciation, Depletion And Amortization $4.660K $4.180K $7.480K
YoY Change -318.78% -44.12% 6.86%
Cash From Operating Activities -$2.113M -$1.113M -$408.1K
YoY Change 166.59% 172.78% 44.51%
INVESTING ACTIVITIES
Capital Expenditures $8.990K -$3.220K $28.61K
YoY Change -225.56% -111.25% -1200.38%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$8.990K -$3.220K $28.61K
YoY Change 25.56% -111.25% -1200.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.181M 5.535M 418.2K
YoY Change -222.45% 1223.6% 102.44%
NET CHANGE
Cash From Operating Activities -2.113M -1.113M -408.1K
Cash From Investing Activities -8.990K -3.220K 28.61K
Cash From Financing Activities -1.181M 5.535M 418.2K
Net Change In Cash -3.302M 4.419M 38.73K
YoY Change -2103.54% 11308.75% -149.41%
FREE CASH FLOW
Cash From Operating Activities -$2.113M -$1.113M -$408.1K
Capital Expenditures $8.990K -$3.220K $28.61K
Free Cash Flow -$2.122M -$1.110M -$436.7K
YoY Change 170.17% 154.17% 56.08%

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us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
23000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8011250 usd
IVDA Adjustments To Additional Paid In Capital Warrants Sold In Over Allotment
AdjustmentsToAdditionalPaidInCapitalWarrantsSoldInOverAllotment
2797 usd
IVDA Common Stock And Prefunded Warrant Offering
CommonStockAndPrefundedWarrantOffering
4999782 usd
us-gaap Net Income Loss
NetIncomeLoss
-2398331 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-116866 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
8398238 usd
CY2022Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-8
us-gaap Net Income Loss
NetIncomeLoss
-2398331 usd
us-gaap Net Income Loss
NetIncomeLoss
-1775728 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13136 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
17148 usd
IVDA Interest Value Of Convertible Debt Issued
InterestValueOfConvertibleDebtIssued
69729 usd
us-gaap Share Based Compensation
ShareBasedCompensation
93900 usd
us-gaap Share Based Compensation
ShareBasedCompensation
88000 usd
IVDA Issuance Of Stock Issued For Services
IssuanceOfStockIssuedForServices
167900 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
5555 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
69729 usd
IVDA Common Stock Warrants Issued For Interest Value
CommonStockWarrantsIssuedForInterestValue
122966 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
143602 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-150551 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
373852 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
236768 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-114587 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
328086 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-37681 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-60476 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-813152 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
582310 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3296178 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1179673 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5184 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17352 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5184 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17352 usd
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
1179384 usd
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
71248 usd
us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-82711 usd
IVDA Proceeds From Restricted Cash
ProceedsFromRestrictedCash
-18345 usd
IVDA Proceeds From Restricted Cash
ProceedsFromRestrictedCash
59209 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-122191 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
115865 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11511687 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2113000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12587225 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2158193 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-115405 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20745 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9170458 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
981913 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1385275 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
249521 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
10555733 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1231434 usd
us-gaap Interest Paid Net
InterestPaidNet
56038 usd
us-gaap Interest Paid Net
InterestPaidNet
2096 usd
us-gaap Stock Issued1
StockIssued1
1932736 usd
IVDA Debenture Accrued Interest Converted To Common Stock
DebentureAccruedInterestConvertedToCommonStock
288787 usd
us-gaap Notes Issued1
NotesIssued1
499750 usd
IVDA Rent Accounts Payable To Related Party Converted To Common Stock
RentAccountsPayableToRelatedPartyConvertedToCommonStock
55789 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
44000 usd
IVDA Accrued Dividends Converted To Common Stock
AccruedDividendsConvertedToCommonStock
455926 usd
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-43000000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2834726 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_847_eus-gaap--UseOfEstimates_zI7Tgdgo68qg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_848_eus-gaap--ConcentrationRiskCreditRisk_zMtSA2jwBK2j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Concentrations</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash and cash equivalents and trade accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Substantially all cash is deposited in two financial institutions, one in the United States and one in Taiwan. At times, amounts on deposit in the United States may be in excess of the FDIC insurance limit. Deposits in Taiwan financial institutions are insured by CDIC (Central Deposit Insurance Corporation) with maximum coverage of NTD <span id="xdx_90D_eus-gaap--CashFDICInsuredAmount_iI_pn6n6_uNTD_c20220930_zDtFIzOeV688" title="FDIC insurance limit">3</span> million. At times, amounts on deposit in Taiwan may be in excess of the CDIC Insurance limit.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivables are unsecured, and we are at risk to the extent such amount becomes uncollectible. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral. One customer (Chunghwa Telecom) represented approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zSqQQSXFRIH1" title="Percentage of concentration risk">95</span>% of total accounts receivable of $<span id="xdx_906_eus-gaap--AccountsReceivableNet_iI_pp0p0_c20211231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zCh0mvUlGRU2" title="Account receivable">492,752</span> as of December 31, 2021. This customer is a longtime customer, and we do not expect any problem with the collectability of these accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We had revenue from two customers with greater than <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember__srt--RangeAxis__srt--MinimumMember_zm14iMOJgRz9">10</span>% of total revenues during the nine months ended September 30, 2022 and two customers for the year ended December 31, 2021 that represented approximately <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zHKHnXRqE371" title="Concentration risk, percentage">55</span>% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerTwoMember_zUDUwgWGVlx" title="Concentration risk, percentage">55</span>% of total revenues, respectively. We had $<span id="xdx_90A_eus-gaap--Revenues_pn5n6_c20220101__20220930__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zWzz7z2nlOkc" title="Revenues">0.8</span> million revenues (<span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_znI9R7eBaKP1" title="Concentration risk, percentage">34</span>%) from Chunghwa Telecom and $<span id="xdx_903_eus-gaap--Revenues_pn5n6_c20220101__20220930__dei--LegalEntityAxis__custom--ChiconyPowerTechnologyCoLtdMember_zbUrM12BMLD8" title="Revenues">0.5</span> million from Chicony Power Technology Co. Ltd of total revenues of $<span id="xdx_902_eus-gaap--Revenues_pn5n6_c20220101__20220930_zTwsu9qIS8mh" title="Revenues">2.3</span> million for the nine months ended September 30, 2022. We had $<span id="xdx_90C_eus-gaap--Revenues_pn5n6_c20210101__20211231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zDAms2y1Kk7i" title="Revenues">0.8</span> million revenues (<span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zwfWEWGv0qGf" title="Concentration risk, percentage">41</span>%) from Chunghwa Telecom and $<span id="xdx_900_eus-gaap--Revenues_pn5n6_c20210101__20211231__dei--LegalEntityAxis__custom--TaiwanStockExchangeCorporationMember_zvAfP0b89yAi" title="Revenues">0.3</span> million revenues (<span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--TaiwanStockExchangeCorporationMember_zQD63q0tJUPe" title="Concentration risk, percentage">14</span>%) from Taiwan Stock Exchange Corporation of total revenues of $<span id="xdx_90D_eus-gaap--Revenues_pn6n6_c20210101__20211231_z2u83wVNkM1g" title="Revenues">2.0</span> million for the year ended December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No other customers represented greater than <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zlv7SNn42uCi" title="Percentage of concentration risk"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zMnUJlWbPoE9" title="Percentage of concentration risk">10</span></span>% of total revenues in the nine months ended September 30, 2022 and year ended December 31, 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
3000000
us-gaap Revenues
Revenues
2300000 usd
CY2021 us-gaap Revenues
Revenues
2000000.0 usd
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
us-gaap Depreciation
Depreciation
13136 usd
CY2021 us-gaap Depreciation
Depreciation
15016 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1323461 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
790160 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
62889 usd
CY2022Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
29176 usd
CY2021Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
58211 usd
CY2022Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2142796 usd
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2955826 usd
us-gaap Share Based Compensation
ShareBasedCompensation
93900 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
801908 usd
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_842_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zkfFd46c9JU8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Reclassification</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain amounts in 2021 have been reclassified to conform to the 2022 presentation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
300000 usd
CY2021Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
300000 usd
CY2022Q3 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
300000 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
300000 usd
CY2022Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
1244856 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
50000 usd
CY2022Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
104812 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
120284 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
216612 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
338803 usd
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
12500000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
37500000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holders of our common stock are entitled to one vote per share on all matters submitted to a vote of the stockholders of our company
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4500 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
10800000 usd
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
9800000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10800000 usd
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
9800000 usd
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1000000 usd
CY2021 IVDA Year Of Expiration
YearOfExpiration
2041
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
590000 usd
CY2020 IVDA Year Of Expiration
YearOfExpiration
2040
CY2019Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
260000 usd
CY2019 IVDA Year Of Expiration
YearOfExpiration
2039
CY2018Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
160000 usd
CY2018 IVDA Year Of Expiration
YearOfExpiration
2038
CY2017Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
140000 usd
CY2017 IVDA Year Of Expiration
YearOfExpiration
2037
CY2016Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1640000 usd
CY2016 IVDA Year Of Expiration
YearOfExpiration
2036
CY2015Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3400000 usd
CY2015 IVDA Year Of Expiration
YearOfExpiration
2035
CY2014Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5230000 usd
CY2014 IVDA Year Of Expiration
YearOfExpiration
2034
CY2013Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
5600000 usd
CY2013 IVDA Year Of Expiration
YearOfExpiration
2033
CY2012Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2850000 usd
CY2012 IVDA Year Of Expiration
YearOfExpiration
2032
CY2011Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2427000 usd
CY2011 IVDA Year Of Expiration
YearOfExpiration
2031
CY2010Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1799000 usd
CY2010 IVDA Year Of Expiration
YearOfExpiration
2030
CY2009Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1750000 usd
CY2009 IVDA Year Of Expiration
YearOfExpiration
2029
CY2008Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1308000 usd
CY2008 IVDA Year Of Expiration
YearOfExpiration
2028
CY2007Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
429000 usd
CY2007 IVDA Year Of Expiration
YearOfExpiration
2027
CY2006Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
476000 usd
CY2006 IVDA Year Of Expiration
YearOfExpiration
2026
CY2005Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
414000 usd
CY2005 IVDA Year Of Expiration
YearOfExpiration
2025
us-gaap Net Income Loss
NetIncomeLoss
-2398331 usd
us-gaap Net Income Loss
NetIncomeLoss
-1775728 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12106884 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8697700 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20

Files In Submission

Name View Source Status
0001493152-22-032055-index-headers.html Edgar Link pending
0001493152-22-032055-index.html Edgar Link pending
0001493152-22-032055.txt Edgar Link pending
0001493152-22-032055-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
ivda-20220930.xsd Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
ivda-20220930_cal.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
ivda-20220930_pre.xml Edgar Link unprocessable
ivda-20220930_lab.xml Edgar Link unprocessable
ivda-20220930_def.xml Edgar Link unprocessable