Iveda Solutions Q1 2024 10-Q Filed
Ticker: IVDAW · Form: 10-Q · Filed: May 20, 2024 · CIK: 1397183
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
IVDA Q1 2024 10-Q is in. Revenue and sales figures for Q1 2024 vs Q1 2023 are detailed.
AI Summary
Iveda Solutions, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details financial performance for the first quarter of 2024, comparing it to the same period in 2023. Key financial data points such as equipment sales and service revenue are provided for both periods.
Why It Matters
This filing provides investors with the latest financial performance data for Iveda Solutions, Inc., crucial for understanding the company's operational health and market position.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it represents a standard quarterly report, but the inherent risks of the technology sector and specific company performance can elevate the risk profile.
Key Numbers
- Q1 2024 — Reporting Period (Financials for the first quarter of 2024 are detailed.)
- Q1 2023 — Comparison Period (Financials for the first quarter of 2023 are provided for comparison.)
Key Players & Entities
- Iveda Solutions, Inc. (company) — Filer of the 10-Q
- 20240331 (date) — End of the reporting period
- 20240520 (date) — Filing date
- MESA, AZ (location) — Company's business and mailing address
FAQ
What were the equipment sales for Q1 2024?
The filing indicates data for IVDA:EquipmentSalesMember for the period 2024-01-01 to 2024-03-31, but specific dollar amounts are not provided in this header.
What were the service revenues for Q1 2024?
The filing indicates data for IVDA:ServiceRevenueMember for the period 2024-01-01 to 2024-03-31, but specific dollar amounts are not provided in this header.
When was the company incorporated?
The company was incorporated in Nevada (NV).
What is the company's SIC code?
The Standard Industrial Classification code is 7372 for SERVICES-PREPACKAGED SOFTWARE.
What is the par value per share of common stock?
The par value per share for common stock is $0.00001.
Filing Stats: 4,410 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-05-20 17:00:41
Key Financial Figures
- $0.00001 — (g) of the Act: Common Stock, par value $0.00001 per share Indicate by check mark whet
Filing Documents
- form10-q.htm (10-Q) — 600KB
- ex31-1.htm (EX-31.1) — 13KB
- ex31-2.htm (EX-31.2) — 13KB
- ex32-1.htm (EX-32.1) — 9KB
- ex32-2.htm (EX-32.2) — 9KB
- 0001493152-24-020743.txt ( ) — 3689KB
- ivda-20240331.xsd (EX-101.SCH) — 27KB
- ivda-20240331_cal.xml (EX-101.CAL) — 41KB
- ivda-20240331_def.xml (EX-101.DEF) — 133KB
- ivda-20240331_lab.xml (EX-101.LAB) — 262KB
- ivda-20240331_pre.xml (EX-101.PRE) — 210KB
- form10-q_htm.xml (XML) — 445KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION ITEM 1.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 3 ITEM 2.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 21 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 26 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 26
- OTHER INFORMATION
PART II - OTHER INFORMATION ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 27 ITEM 1A.
RISK FACTORS
RISK FACTORS 27 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 27 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 27 ITEM 4. MINE SAFETY DISCLOSURES 27 ITEM 5. OTHER INFORMATION 27 ITEM 6. EXHIBITS 27
SIGNATURES
SIGNATURES 28 2 PART 1 – FINANCIAL INFORMATION ITEM 1. FINANCIAL IVEDA SOLUTIONS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS MARCH 31, 2024 AND DECEMBER 31, 2023 March 31, 2024 December 31, 2023 (UNAUDITED) (UNAUDITED) ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 3,899,152 $ 4,754,597 Restricted Cash 126,966 129,778 Accounts Receivable, Net 203,919 281,049 Inventory, Net 490,388 324,515 Other Current Assets 558,395 435,580 Total Current Assets 5,278,820 5,925,520 Property and Equipment, Net 1,071,249 891,187 Other Assets 252,213 444,723 Total Assets $ 6,602,282 $ 7,261,430 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts and Other Payables $ 1,101,491 $ 1,110,087 Short Term Debt 250,454 348,771 Current Portion of Long-Term Debt 125,227 - Total Current Liabilities 1,477,172 1,458,858 Long-term Debt 480,036 - Total Liabilities 1,957,208 1,458,858 STOCKHOLDERS' EQUITY Preferred Stock, $ 0.00001 par value; 12,500,000 shares authorized, no preferred shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively - - Series B Preferred Stock, $ 0.00001 par value; 500 shares authorized, no shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively - - Preferred Stock, value - Common Stock, $ 0.00001 par value; 37,500,000 shares authorized; 16,169,891 and 16,169,891 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 162 162 Additional Paid-In Capital 54,061,943 54,065,633 Non-controlling Interest ( 109,860 ) ( 99,048 ) Accumulated Other Comprehensive Loss ( 257,178 ) ( 222,380 ) Accumulated Deficit ( 49,049,993 ) ( 47,941796 ) Total Stockholders' Equity (Deficit) 4,645,074 5,802,572 Total Liabilities and Stockholders' Equity $ 6,602,282 $ 7,261,430 See accompanying Notes to Condensed Consolidated Financial Statements. 3