<SEC-DOCUMENT>0001144204-11-061194.txt : 20130313
<SEC-HEADER>0001144204-11-061194.hdr.sgml : 20130313
<ACCEPTANCE-DATETIME>20111103165623
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-11-061194
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20111103

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Iveda Solutions, Inc.
		CENTRAL INDEX KEY:			0001397183
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				980611159
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1201 SOUTH ALMA SCHOOL ROAD
		CITY:			MESA
		STATE:			AZ
		ZIP:			85210
		BUSINESS PHONE:		480-307-8700

	MAIL ADDRESS:	
		STREET 1:		1201 SOUTH ALMA SCHOOL ROAD
		CITY:			MESA
		STATE:			AZ
		ZIP:			85210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Iveda Corp
		DATE OF NAME CHANGE:	20090916

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Charmed Homes Inc.
		DATE OF NAME CHANGE:	20070420
</SEC-HEADER>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[Letterhead of Iveda Solutions, Inc.]</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">November&#160;&#160;03, 2011</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">United States Securities and Exchange Commission</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Terence O&#8217;Brien, Accounting Branch Chief</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington, D.C. 20549</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Re:&#160; File No. 0-53285</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;December 31, 2010 Form 10-K Filed March 30, 2011</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;April 30, 2011 Form 8-K/A Filed July 15, 2011</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;June 30, 2011 Form 10-Q Filed August 15, 2011</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dear Mr. O&#8217;Brien:</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Iveda Solutions, Inc. (&#8220;Iveda&#8221;) hereby provides this letter in response to your comment letter dated October 20, 2011.&#160;&#160;We have reviewed the specific items requested and enclosed within is our response. The responses below have been numbered to correspond to your comment letter.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We will amend the Form 8-K by changing the word &#8220;year&#8221; to &#8220;years&#8221; to properly reflect the audit report which covers two annual periods &#8211; 2009 and 2010.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In all future 10-Q filings, we will expand Note 7 to disclose the 2011 and 2012 revenue milestones attendant to the Earnout Shares and disclose the terms under which the Earnout Share payments will be adjusted if the milestones are not achieved as required by ASC 805-10-50.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We would like to request an additional month to respond to the inquiries set forth in this comment.&#160;&#160;It is a complex valuation and we require additional time to consult with our third party valuation company.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In all future 10-Q filings, we will provide the detailed disclosures concerning intangible asset classes and amortization periods as required by ASC 350-30-50.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In all future 10-Q filings, we will provide acquired revenue, earnings and supplemental pro forma disclosures required by ASC 805-10-50.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In all future 10-Q filings, we will provide reportable segment disclosures for Iveda and Megasys segments pursuant to ASC 280-10.&#160;&#160;We will also expand MD&amp;A to separately discuss the operating results of each segment pursuant to Section 501.06.a of the Financial Reporting Codification.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In all future 10-Q filings, we will expand MD&amp;A to quantify and explain any changes in our Days Sales Outstanding.&#160;&#160;We will analyze our receivables portfolio for any amounts over 120 days and we will disclose this fact.&#160;&#160;We will also explain our basis for asserting collectability.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We will disclose any legal or economic factors that may materially impact our ability to transfer funds between our domestic and foreign businesses.&#160;&#160;Furthermore, we will disaggregate our liquidity disclosure in MD&amp;A to separately analyze the liquidity of the domestic and foreign businesses.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In all future 10-Q filings, we will explain in MD&amp;A why our cash reserves are not used to pay down our bank loans.</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Iveda is responsible for the adequacy and accuracy of the disclosure in the filing;</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and</font></div>
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<div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Iveda may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.</font></div>
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