<SEC-DOCUMENT>0001144204-12-001824.txt : 20120111
<SEC-HEADER>0001144204-12-001824.hdr.sgml : 20120111
<ACCEPTANCE-DATETIME>20120111143637
ACCESSION NUMBER:		0001144204-12-001824
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20120111
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120111
DATE AS OF CHANGE:		20120111

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-53285
		FILM NUMBER:		12521895

	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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<TYPE>8-K
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<DESCRIPTION>CURRENT REPORT
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 1.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Entry into a Material Definitive Agreement.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On January 11, 2012, Iveda Solutions, Inc. (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Iveda</font>&#8221;) announced that MEGAsys, Iveda&#8217;s subsidiary in Taiwan, was awarded a remote digital video recording systems engineering contract by the New Taipei City Police Department (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Project</font>&#8221;). The contract amount of the Project is NT$66,511,768 (approximately US$2.2 million) over the contract period. The Project commences on January 13, 2012 and is expected to be completed in June 2012.&#160;&#160;The contract also provides that the New Taipei City Police Department has the right to expand the Project to additional cities within the next two years at a cost of up to NT$76,806,591 (approximately US$2.5 million).</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Project includes new cameras and existing camera integration, fiber network, city-wide camera and network engineering and design, field construction, and utilization of an existing NVR system.&#160;&#160;The Project includes Wugu, Sanchong, Tamsui, Luzhou, Tucheng, Xindian, Xinzhuang, Ruifang, and Linkou districts, New Taipei City.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For Immediate Release</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">January 11, 2012</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Iveda Solutions Jumpstarts the New Year with US $2.2 M SafeCiti<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">TM</font> Contract</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Mesa, AZ (January 11, 2012) &#8211; Iveda Solutions, Inc. (OTCBB:IVDA) announced today that MEGAsys, its subsidiary in Taiwan, was awarded a remote digital video recording systems engineering contract by the New Taipei City Police Department. The award is worth NT$ 66,511,768 (approximately US$2.2 million) over the contract period. The New Taipei City</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Police Department project commences on January 13<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> and is expected to be completed in June 2012.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;This is a great way to start the New Year and I am proud of our team in Taiwan. We anticipate similar SafeCiti<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">TM</font> deployments in the U.S. and Latin America this year to leverage of our successes in Asia,&#8221; said David Ly, president and CEO of Iveda Solutions.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The project includes new cameras and existing camera integration, fiber network, city-wide camera and network engineering and design, field construction, and utilizing an existing NVR system.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;We have seen a high demand for salvaging existing infrastructure as cities around the world experience dwindling resources while the need for enhanced public safety and security is on the rise. Iveda Solutions&#8217; cloud centralization of traditional isolated and detached video systems has enhanced utilization and improved capabilities for police work,&#8221; said Ly.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The network engineering design includes cameras on street intersections and videos terminating in local police stations and utilizes the Internet and virtual public network (VPN) technology. The goal of the street intersection monitoring system is to record people and vehicles, including license plate numbers. The cameras are equipped to achieve all-weather operation. The video resolution will be set at 720x480 pixels and 15 frames per second. This allows police a clear identification of a vehicle&#8217;s license plate when subject vehicle is moving at a speed of 80 kilometers per hour.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;Winning this project affirms MEGAsys&#8217; ability to execute large and complex SafeCiti<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">TM</font> deployments. The New Taipei City Police Department entrusted this project to our company based on our performance with a similar, recently-completed project for the Department,&#8221; said Ching H. Fan, general manager of MEGAsys.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The project includes Wugu, Sanchong, Tamsui, Luzhou, Tucheng, Xindian, Xinzhuang, Ruifang, and Linkou district, New Taipei City.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The New Taipei City Police Department project is an example of how Iveda Solutions&#8217; cloud video surveillance solution is effectively integrating all kinds of video systems into one managed video platform. Iveda Solutions is able to engineer a solution that takes into consideration how video data is first obtained, processed, transported, secured, stored, distributed, and centrally managed.&#160;&#160;The solution provides functional tools for the New Taipei City Police Department to gain access to live and archived videos on demand throughout its jurisdiction.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The contract also provides that the New Taipei City Police Department&#160;has the right to expand the project to additional cities within the next two years at a cost of up to NT$76,806,591 (approximately US$2.5 million).</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Iveda Solutions, Inc. (OTCBB:IVDA) is a premier online surveillance technology innovator and Managed Video Services provider. Based in Mesa, AZ, with a subsidiary in Taiwan (MEGAsys), the company develops and markets enterprise-class video hosting and real-time remote surveillance services. Iveda Solutions has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology provider. For more information call 800-385-8618 or visit www.ivedasolutions.com.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors. Iveda Solutions&#8217; business is subject to significant risks and uncertainties discussed more thoroughly in Iveda Solutions&#8217; SEC filings, including but not limited to, its report on Form 10-K for the year ended December 31, 2010 and its subsequently filed quarterly reports on Form 10-Q. All forward-looking statements made herein are qualified by such risk factors and readers are advised to read such factors carefully. Iveda Solutions undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Luz A. Berg</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">480 307-8700</font></div>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
