$IVDA
Iveda Solutions, Inc.

2023 Q3 Form 10-Q Financial Statement

#000149315223028473 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $872.8K $2.392M $651.4K
YoY Change -40.52% 267.17% 16.18%
Cost Of Revenue $731.1K $2.111M $462.5K
YoY Change -34.3% 356.33% 8.2%
Gross Profit $141.7K $281.1K $188.9K
YoY Change -60.02% 48.84% 41.78%
Gross Profit Margin 16.24% 11.75% 29.0%
Selling, General & Admin $1.049M $1.101M $1.247M
YoY Change 1.63% -11.68% 60.78%
% of Gross Profit 739.98% 391.75% 660.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00K $2.160K $4.300K
YoY Change 139.23% -49.77% -55.53%
% of Gross Profit 7.06% 0.77% 2.28%
Operating Expenses $1.049M $1.101M $1.247M
YoY Change 1.63% -11.68% 60.78%
Operating Profit -$906.8K -$820.3K -$1.058M
YoY Change 33.89% -22.49% 64.72%
Interest Expense $2.376K $3.028K $13.48K
YoY Change -84.34% -77.54% -70.17%
% of Operating Profit
Other Income/Expense, Net $54.23K $2.798K -$6.790K
YoY Change 411.97% -141.21% -84.96%
Pretax Income -$829.0K -$757.5K -$1.065M
YoY Change 24.35% -28.87% 54.89%
Income Tax -$206.00 -$113.00 -$78.00
% Of Pretax Income
Net Earnings -$828.8K -$757.4K -$1.065M
YoY Change 24.33% -28.88% 54.88%
Net Earnings / Revenue -94.96% -31.67% -163.48%
Basic Earnings Per Share -$0.05 -$0.05 -$0.09
Diluted Earnings Per Share -$0.05 -$0.05 -$91.19K
COMMON SHARES
Basic Shares Outstanding 16.01M shares 16.01M shares 11.68M shares
Diluted Shares Outstanding 15.99M shares 15.94M shares 11.68M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.570M $8.601M $6.197M
YoY Change -47.23% 38.79% 421.29%
Cash & Equivalents $5.565M $8.601M $6.197M
Short-Term Investments
Other Short-Term Assets $324.3K $232.0K $244.5K
YoY Change 200.99% -5.14% -66.42%
Inventory $487.7K $305.2K $630.4K
Prepaid Expenses
Receivables $439.4K $236.9K $122.6K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.939M $9.503M $7.328M
YoY Change -42.85% 29.67% 205.19%
LONG-TERM ASSETS
Property, Plant & Equipment $651.9K $465.2K $31.19K
YoY Change 2171.38% 1391.25% -52.0%
Goodwill
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $427.0K $270.7K $232.3K
YoY Change 81.0% 16.53% 34.96%
Total Long-Term Assets $1.079M $735.9K $263.5K
YoY Change 307.72% 179.27% 11.13%
TOTAL ASSETS
Total Short-Term Assets $6.939M $9.503M $7.328M
Total Long-Term Assets $1.079M $735.9K $263.5K
Total Assets $8.018M $10.24M $7.592M
YoY Change -35.37% 34.87% 187.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $466.1K $1.462M $375.8K
YoY Change -41.01% 289.15% -89.17%
Accrued Expenses $666.3K $844.6K $1.596M
YoY Change -49.66% -47.07%
Deferred Revenue
YoY Change
Short-Term Debt $176.9K $289.1K $218.3K
YoY Change -85.79% 32.45% -78.96%
Long-Term Debt Due $112.2K
YoY Change
Total Short-Term Liabilities $1.338M $2.698M $2.761M
YoY Change -64.71% -2.28% -42.56%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $259.9K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $259.9K
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.338M $2.698M $2.761M
Total Long-Term Liabilities $0.00 $0.00 $259.9K
Total Liabilities $1.250M $2.638M $3.021M
YoY Change -68.82% -12.68% -37.15%
SHAREHOLDERS EQUITY
Retained Earnings -$46.84M -$46.01M -$43.09M
YoY Change 7.05% 6.78% 0.22%
Common Stock $161.00 $160.00 $117.00
YoY Change 7.33% 36.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.680M $7.541M $4.571M
YoY Change
Total Liabilities & Shareholders Equity $8.018M $10.24M $7.592M
YoY Change -35.37% 34.87% 187.74%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$828.8K -$757.4K -$1.065M
YoY Change 24.33% -28.88% 54.88%
Depreciation, Depletion And Amortization $10.00K $2.160K $4.300K
YoY Change 139.23% -49.77% -55.53%
Cash From Operating Activities -$2.720M $678.6K -$1.413M
YoY Change 144.37% -148.03% 83.11%
INVESTING ACTIVITIES
Capital Expenditures $200.0K $263.5K $2.740K
YoY Change -6311.18% 9518.61% -105.96%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$200.0K -$263.5K $2.740K
YoY Change 6111.18% -9718.61% -105.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K -131.9K 6.907M
YoY Change -101.81% -101.91% 296.94%
NET CHANGE
Cash From Operating Activities -2.720M 678.6K -1.413M
Cash From Investing Activities -200.0K -263.5K 2.740K
Cash From Financing Activities -100.0K -131.9K 6.907M
Net Change In Cash -3.020M 283.2K 5.497M
YoY Change -168.35% -94.85% 495.88%
FREE CASH FLOW
Cash From Operating Activities -$2.720M $678.6K -$1.413M
Capital Expenditures $200.0K $263.5K $2.740K
Free Cash Flow -$2.920M $415.0K -$1.416M
YoY Change 163.1% -129.32% 95.08%

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us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
167900 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-982419 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-371050 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-217085 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
285762 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-136909 usd
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-22220 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
8219 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-41295 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
823367 usd
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-825640 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
851117 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2183116 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
439708 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1964 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-439708 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1964 usd
IVDA Proceeds From Repayments Of Changes In Restricted Cash
ProceedsFromRepaymentsOfChangesInRestrictedCash
-71 usd
IVDA Proceeds From Repayments Of Changes In Restricted Cash
ProceedsFromRepaymentsOfChangesInRestrictedCash
9596 usd
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-104046 usd
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
160186 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-256126 usd
us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-78900 usd
IVDA Payments For Joint Venture Noncontrolled Portion
PaymentsForJointVentureNoncontrolledPortion
59967 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1360385 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6961457 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
940175 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7052339 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-62372 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-55079 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1289212 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
4812180 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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
8601307 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6197455 usd
us-gaap Interest Paid Net
InterestPaidNet
3545 usd
us-gaap Interest Paid Net
InterestPaidNet
1013 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
18590 usd
us-gaap Stock Issued1
StockIssued1
167900 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
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_841_eus-gaap--UseOfEstimates_znodk3qs0QS" 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"><span id="xdx_86E_z1pxpwNX7fI6">Use of Estimates</span></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_844_eus-gaap--ConcentrationRiskCreditRisk_zW0nPU36M3vj" 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"><span id="xdx_86E_z7XvIA6Qw607">Concentrations</span></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 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>Deposit Insurance Corporation) with maximum coverage of NTD 3 million. At times, amounts on deposit in Taiwan may be in excess of the CDIC Insurance limit.</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">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_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChunghwaTelecomMember_z781mYRBnyGa" 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_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zCIE0eV3Cmv1" title="Percentage of concentration risk">95</span>% of total accounts receivable of $<span id="xdx_90A_eus-gaap--AccountsReceivableNet_iI_c20221231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zf8GZiWzjJ8k" title="Account receivable">492,752</span> as of December 31, 2022. 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 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">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_zj09LR6Jkpx3" title="Concentration risk, percentage">52</span>% of total revenue for the year ended December 31, 2022. These specific customers were 1) We had $<span id="xdx_90E_eus-gaap--Revenues_pdp0_c20220101__20221231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_zzMEFgr4ro12" title="Revenues">948,592</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_zy8RpXHhFKg4" 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_z0kMubzf99M6" 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_z3ABZgOa0OJh" 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_zMy0GDzftWza" title="Revenues">4,468,279</span>.</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_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_zgpUJrpATnGk">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_z8Da3CGMiOoj" title="Concentration risk, percentage">55</span>% of total revenues. We had $<span id="xdx_90D_eus-gaap--Revenues_c20210101__20211231__dei--LegalEntityAxis__custom--ChunghwaTelecomMember_z5vmxNO07mUf" 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_zFoBoB4tgju9" title="Concentration risk, percentage">41</span>%) from Chunghwa Telecom and $<span id="xdx_902_eus-gaap--Revenues_c20210101__20211231__dei--LegalEntityAxis__custom--TaiwanStockExchangeCorporationMember_zhs17seeLHBj" 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_znIsBQKBqNB6" title="Concentration risk, percentage">14</span>%) from Taiwan Stock Exchange Corporation of total revenues of $<span id="xdx_90F_eus-gaap--Revenues_c20210101__20211231_zBjakrfAtag6" title="Revenues">1,917,848</span>.</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 10% of total revenues in years ended December 31, 2022 and 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>
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
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
CY2022 us-gaap Depreciation
Depreciation
17801 usd
CY2021 us-gaap Depreciation
Depreciation
15016 usd
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
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1462316 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
360395 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
844648 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1243027 usd
CY2023Q2 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
101706 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
35305 usd
CY2023Q2 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
2408670 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1638727 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
120581 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
801908 usd
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
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p id="xdx_842_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zwpm0CquWFYb" 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"><span id="xdx_865_zmXFF564KzYg">Reclassification</span></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 2022 have been reclassified to conform to the 2023 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>
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
289119 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
398409 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
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
65408 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
190776 usd
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
93887 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
10800000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
9800000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10800000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
9800000 usd
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
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
us-gaap Net Income Loss
NetIncomeLoss
-1307635 usd
us-gaap Net Income Loss
NetIncomeLoss
-1731698 usd
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15926952 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10676956 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16

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