2023 Q1 Form 10-K Financial Statement

#000149315223010283 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $2.205M $2.119M $4.468M
YoY Change 855.2% 245.58% 132.98%
Cost Of Revenue $1.718M $1.839M $3.505M
YoY Change 1802.88% 505.59% 222.85%
Gross Profit $486.7K $279.6K $963.5K
YoY Change 246.26% -9.63% 15.77%
Gross Profit Margin 22.07% 13.2% 21.56%
Selling, General & Admin $1.038M $1.222M $4.293M
YoY Change 30.99% -19.38% 20.67%
% of Gross Profit 213.21% 436.96% 445.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.030K $4.660K $17.80K
YoY Change 7.94% -318.78% 18.55%
% of Gross Profit 1.03% 1.67% 1.85%
Operating Expenses $1.038M $1.222M $4.293M
YoY Change 30.99% -19.38% 20.67%
Operating Profit -$551.0K -$942.2K -$3.329M
YoY Change -15.45% -21.88% 22.16%
Interest Expense $517.00 $12.74K $53.32K
YoY Change -104.23% -175.7% -119.51%
% of Operating Profit
Other Income/Expense, Net $19.40K -$17.50K -$13.00K
YoY Change 11310.59% -25100.0%
Pretax Income -$531.6K -$947.0K -$3.342M
YoY Change -19.9% -22.56% 11.46%
Income Tax $18.70K -$50.00 $2.947K
% Of Pretax Income
Net Earnings -$550.3K -$946.9K -$3.345M
YoY Change -17.48% -22.57% 11.56%
Net Earnings / Revenue -24.95% -44.69% -74.87%
Basic Earnings Per Share -$0.04 -$0.26
Diluted Earnings Per Share -$0.04 -$0.06 -$0.26
COMMON SHARES
Basic Shares Outstanding 16.01M shares 14.97M shares 12.85M shares
Diluted Shares Outstanding 15.29M shares 12.84M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.380M $7.312M $7.312M
YoY Change 1021.91% 427.84% 427.84%
Cash & Equivalents $8.380M $7.312M $7.312M
Short-Term Investments
Other Short-Term Assets $162.5K $372.0K $501.5K
YoY Change -49.93% 19.74% 10.63%
Inventory $388.2K $526.5K $526.5K
Prepaid Expenses
Receivables $505.6K $1.223M $1.223M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.566M $9.563M $9.563M
YoY Change 433.13% 257.35% 257.35%
LONG-TERM ASSETS
Property, Plant & Equipment $204.5K $32.91K $32.91K
YoY Change 442.34% -13.82% -13.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $288.6K $267.4K $267.4K
YoY Change 12.49% -2.21% -2.21%
Total Long-Term Assets $493.1K $300.3K $300.3K
YoY Change 67.58% -3.63% -3.63%
TOTAL ASSETS
Total Short-Term Assets $9.566M $9.563M $9.563M
Total Long-Term Assets $493.1K $300.3K $300.3K
Total Assets $10.06M $9.863M $9.863M
YoY Change 381.63% 230.13% 230.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $478.1K $360.4K $360.4K
YoY Change -84.02% 473.07% 473.06%
Accrued Expenses $789.2K $1.243M $1.243M
YoY Change -56.15% -56.15%
Deferred Revenue
YoY Change
Short-Term Debt $163.7K $398.4K $398.4K
YoY Change -27.11% 696.82% 696.82%
Long-Term Debt Due $65.50K $65.41K $65.41K
YoY Change -43.74% -45.62% -45.62%
Total Short-Term Liabilities $1.543M $2.103M $2.103M
YoY Change -57.54% -38.63% -38.63%
LONG-TERM LIABILITIES
Long-Term Debt $174.7K $190.8K $190.8K
YoY Change -41.55% -43.69% -43.69%
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $174.7K $190.8K $190.8K
YoY Change -41.55% -43.69% -43.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.543M $2.103M $2.103M
Total Long-Term Liabilities $174.7K $190.8K $190.8K
Total Liabilities $1.717M $2.293M $2.293M
YoY Change -56.32% -39.09% -39.09%
SHAREHOLDERS EQUITY
Retained Earnings -$45.26M -$44.71M
YoY Change 8.09%
Common Stock $159.00 $150.00
YoY Change 54.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.342M $7.570M $7.570M
YoY Change
Total Liabilities & Shareholders Equity $10.06M $9.863M $9.863M
YoY Change 381.63% 230.13% 230.13%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$550.3K -$946.9K -$3.345M
YoY Change -17.48% -22.57% 11.56%
Depreciation, Depletion And Amortization $5.030K $4.660K $17.80K
YoY Change 7.94% -318.78% 18.55%
Cash From Operating Activities $172.6K -$2.113M -$5.409M
YoY Change -122.4% 166.59% 174.26%
INVESTING ACTIVITIES
Capital Expenditures $176.2K $8.990K $14.17K
YoY Change -3848.0% -225.56% -157.79%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$176.2K -$8.990K -$14.17K
YoY Change 3648.0% 25.56% -42.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.51M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.072M -1.181M $11.41M
YoY Change 636.59% -222.45% 265.28%
NET CHANGE
Cash From Operating Activities $172.6K -2.113M -$5.409M
Cash From Investing Activities -$176.2K -8.990K -$14.17K
Cash From Financing Activities $1.072M -1.181M $11.41M
Net Change In Cash $1.068M -3.302M $5.927M
YoY Change -269.65% -2103.54% 426.36%
FREE CASH FLOW
Cash From Operating Activities $172.6K -$2.113M -$5.409M
Capital Expenditures $176.2K $8.990K $14.17K
Free Cash Flow -$3.593K -$2.122M -$5.423M
YoY Change -99.53% 170.17% 178.44%

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IssuanceOfStockAndWarrantsForServicesOrClaims
5555 usd
CY2021 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
148480 usd
CY2021 IVDA Common Stock Warrants Issued For Interest Value
CommonStockWarrantsIssuedForInterestValue
69729 usd
CY2022 IVDA Issuance Of Stock Issued For Services
IssuanceOfStockIssuedForServices
219900 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
785969 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
266138 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
214898 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
122786 usd
CY2022 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
168122 usd
CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
100228 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
19919 usd
CY2021 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
41795 usd
CY2022 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-1238379 usd
CY2021 us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
452636 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5408720 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1972093 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14165 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24513 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14165 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24513 usd
CY2022 IVDA Proceeds From Repayments Of Changes In Restricted Cash
ProceedsFromRepaymentsOfChangesInRestrictedCash
-214 usd
CY2021 IVDA Proceeds From Repayments Of Changes In Restricted Cash
ProceedsFromRepaymentsOfChangesInRestrictedCash
22457 usd
CY2022 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
358888 usd
CY2021 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-11238 usd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-300000 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-82711 usd
CY2022 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-164093 usd
CY2021 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
459087 usd
CY2021 IVDA Payments For Proceeds From Financing And Stock Issuance Costs
PaymentsForProceedsFromFinancingAndStockIssuanceCosts
88328 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11511741 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2823332 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11406322 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3122599 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-56617 usd
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9761 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5926820 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1135754 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
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7312095 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1385275 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
337573 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
2565 usd
CY2021 us-gaap Notes Issued1
NotesIssued1
934750 usd
CY2021 IVDA Debenture Accrued Interest Converted To Common Stock
DebentureAccruedInterestConvertedToCommonStock
359831 usd
CY2021 IVDA Rent Accounts Payable To Related Party Converted To Common Stock
RentAccountsPayableToRelatedPartyConvertedToCommonStock
55789 usd
CY2021 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
44000 usd
CY2021 us-gaap Stock Issued1
StockIssued1
1932736 usd
CY2021 IVDA Accrued Dividends Converted To Common Stock
AccruedDividendsConvertedToCommonStock
455926 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_849_eus-gaap--UseOfEstimates_z2qGlev7Kcdf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_865_zqTkEqMhi1Q3">Use of Estimates</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zDCbkMG9yXx3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_869_zB0qjlSW53ja">Concentrations</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Substantially all cash is deposited in three financial institutions, two 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</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposit Insurance Corporation) with maximum coverage of NTD <span id="xdx_90E_eus-gaap--CashFDICInsuredAmount_iI_pn6n6_uNTD_c20221231_zZFbXdrn1k93" 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; 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; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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. At December 31, 2022 one customer out of a total of 36 customer accounts receivable accounts was <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChunghwaTelecomMember_zEDd9JhVzJP" title="Concentration risk, percentage">52</span>% of the total accounts receivable. This specific customer was Chicony Power Technology Co Ltd. One customer (Chunghwa Telecom) represented approximately <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zdLdKM6ife3j" title="Percentage of concentration risk">95</span>% of total accounts receivable of $<span id="xdx_906_eus-gaap--AccountsReceivableNet_iI_c20211231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zkAYBhU0Qxm5" title="Account receivable">492,752</span> as of December 31, 2021. These customers are longtime customers, and we don’t expect any problem with collectability of these accounts receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from two customers out of 42 total customers represented approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_z7W2vNhRGcCk" title="Concentration risk, percentage">52</span>% of total revenue for the year ended December 31, 2022. These specific customers were 1) We had $9<span id="xdx_90E_eus-gaap--Revenues_pdp0_c20220101__20221231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zsCxbdCKMKE" title="Revenues">48,592</span> revenues (<span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_z5pDcQ24fmnb" title="Concentration risk, percentage">21</span>%) from Chunghwa Telecom, 2) We had $<span id="xdx_901_eus-gaap--Revenues_c20220101__20221231__dei--LegalEntityAxis__custom--ChiconyPowerTechnologyCoLtdMember_z2tGu8b6LLI4" title="Revenues">1,385,026</span> revenues (<span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ChiconyPowerTechnologyMember_zsxyGlUS9Qci" title="Concentration risk, percentage">31</span>%) from Chicony Power Technology Co Ltd, (both Taiwan companies) of total revenues of $<span id="xdx_904_eus-gaap--Revenues_c20220101__20221231_zmWZcCCwZsH5" title="Revenues">4,468,279</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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_901_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember__srt--RangeAxis__srt--MinimumMember_zqdd6gqryedc">10</span>% of total revenues for the year ended December 31, 2021 that represented approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--CustomerOneMember_zUYWYHAM96Fd" title="Concentration risk, percentage">55</span>% of total revenues. We had $<span id="xdx_90D_eus-gaap--Revenues_c20210101__20211231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zBLwJtuDWNG7" title="Revenues">786,686</span> 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_zMUsP9pDuaR1" title="Concentration risk, percentage">41</span>%) from Chunghwa Telecom and $<span id="xdx_902_eus-gaap--Revenues_c20210101__20211231__dei--LegalEntityAxis__custom--TaiwanStockExchangeCorporationMember_z2Nh5CU67yb4" title="Revenues">260,946</span> revenues (<span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20210101__20211231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--TaiwanStockExchangeCorporationMember_zs9EOdg2r3K7" title="Concentration risk, percentage">14</span>%) from Taiwan Stock Exchange Corporation of total revenues of $<span id="xdx_90F_eus-gaap--Revenues_c20210101__20211231_zQb8dg4u8oUh" title="Revenues">1,917,848</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No other customers represented greater than <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zXj9g8H4lW24" title="Percentage of concentration risk"><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--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zohGR441BL55" title="Percentage of concentration risk">10</span></span>% of total revenues in years ended December 31, 2022 and 2021.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
3000000
CY2022 us-gaap Revenues
Revenues
4468279 usd
CY2021 us-gaap Revenues
Revenues
1917848 usd
CY2022Q4 IVDA Uncollectible Accounts
UncollectibleAccounts
0 usd
CY2021Q4 IVDA Uncollectible Accounts
UncollectibleAccounts
0 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0 usd
CY2022 us-gaap Depreciation
Depreciation
17801 usd
CY2021 us-gaap Depreciation
Depreciation
15016 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
360395 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
62889 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1243027 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2834726 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
35305 usd
CY2021Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
58211 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1638727 usd
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2955826 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
120581 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
801908 usd
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_84E_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_z68tDUAp9rMl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><span id="xdx_860_z3EDJ4M4lzJg">Reclassification</span></span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; 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; 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; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
300000 usd
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
300000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
398409 usd
CY2021Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
50000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
65408 usd
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
120284 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
190776 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
338803 usd
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022 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
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
93887 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
893438 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.80
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
952025 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.76
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
233125 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.26
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
141875 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.76
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.72
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
62500 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.72
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
112125 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.44
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
137963 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
7.44
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1014438 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.80
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.80
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6.80
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0.32
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17.76
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1014038 shares
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P6Y4M24D
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5.61
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959750 shares
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5.61
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.90 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.90 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0100 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0100 pure
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
872259 shares
CY2021Q4 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
3.04
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543754 shares
CY2020Q4 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
3.04
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5616224 shares
CY2022 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Granted Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantedWeightedAverageExercisePrice
2.96
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
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509732 shares
CY2021 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Granted Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsGrantedWeightedAverageExercisePrice
2.96
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
8214 shares
CY2022 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Exercised Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisedWeightedAverageExercisePrice
2.80
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
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78102 shares
CY2021 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Exercised Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisedWeightedAverageExercisePrice
2.80
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
246609 shares
CY2022 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Forfeited Cancelled Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeitedCancelledWeightedAverageExercisePrice
2.80
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
103125 shares
CY2021 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Forfeited Cancelled Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeitedCancelledWeightedAverageExercisePrice
2.80
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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6233660 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
2.66
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
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872259 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAverageExercisePrice
3.04
CY2022Q4 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
6233660 shares
CY2022Q4 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisableWeightedAverageExercisePrice
2.66
CY2021Q4 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber
872259 shares
CY2021Q4 IVDA Share Based Compensation Arrangement By Share Based Payment Award Non Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsExercisableWeightedAverageExercisePrice
3.04
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
11800000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
10800000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
11800000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10800000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3000000 usd
CY2022 IVDA Year Of Expiration
YearOfExpiration
2042
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
CY2022 IVDA Taiwan Corporate Tax Rate
TaiwanCorporateTaxRate
Sole-Vision Technologies, Inc. is a subsidiary of the Company which is operating in Taiwan as a profit-seeking enterprise. Its applicable corporate income tax rate is 17%. In addition, Taiwan’s corporate tax system allows the government to levy a 10% profit retention tax on undistributed earnings for the prior year. This tax will not be provided if the company distributed the earnings before the ended of the fiscal year
CY2022 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
90000 usd
CY2021 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
1367862 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-3345270 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-2998644 usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12840598 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8940368 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.26
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34

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