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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]
Future amortization of Intangible Assets is as follows:
 
Trademarks
 
 
 
 
2013
 
$
5,000
 
2014
 
 
20,000
 
2015
 
 
20,000
 
2016
 
 
20,000
 
Thereafter
 
 
86,666
 
Total
 
$
151,666
 
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The net revenues and net assets (liabilities) for other significant geographic regions outside the United States during the 9 months ended September 30, 2013 are as follows:
 
 
 
Net Revenues
 
Net Assets
 
 
 
 
 
 
 
 
 
United States
 
$
378,222
 
$
2,349,594
 
Asia
 
$
1,404,127
 
$
41,006
 
Mexico
 
$
195,957
 
 
-
 
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]
The Company operates as two reportable business segments in defined in ASC 280, "Segment Reporting." Each business segment has a chief operating decision maker and management personnel which review their business segment’s performance as it relates to revenue, operating profit and operating expenses.
 
 
 
Three Months
 
Three Months
 
Condensed
 
 
 
Ended September, 2013
 
Ended September 30, 2013
 
Consolidated
 
 
 
Iveda Solutions, Inc.
 
MegaSys
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
203,942
 
$
364,976
 
$
568,918
 
Cost of Revenue
 
 
209,195
 
 
262,797
 
 
464,603
 
Gross Profit
 
 
(5,253)
 
 
102,179
 
 
96,926
 
Depreciation and Amort.
 
 
53,181
 
 
2,634
 
 
55,815
 
General and Administrative
 
 
1,375,451
 
 
214,297
 
 
1,589,748
 
(Loss) from Operations
 
 
(1,433,885)
 
 
(114,752)
 
 
(1,548,637)
 
Foreign Currency Gain (Loss)
 
 
(8,611)
 
 
-
 
 
(8,611)
 
Loss from the conversion of debt
 
 
-
 
 
-
 
 
-
 
Interest Income
 
 
-
 
 
-
 
 
-
 
Interest Expense
 
 
11,676
 
 
4,545
 
 
16,221
 
(Loss) Before Income Taxes
 
 
(1,454,172)
 
 
(119,297)
 
 
(1,573,469)
 
(Provision) For Income Taxes
 
 
-
 
 
-
 
 
-
 
Net Loss
 
$
(1,454,172)
 
$
(119,297)
 
$
(1,573,469)
 
 
 
 
Nine Months
 
 
 
 
 
 
 
Ended September 30,
 
Nine Months
 
 
 
 
 
2013
 
Ended September 30,
 
Condensed
 
 
 
Iveda Solutions,
 
2013
 
Consolidated
 
 
 
Inc.
 
MegaSys
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
574,179
 
$
1,404,127
 
$
1,978,306
 
Cost of Revenue
 
 
565,258
 
 
1,102,407
 
 
1,667,665
 
Gross Profit
 
 
8,921
 
 
301,720
 
 
310,641
 
Depreciation and Amortization
 
 
161,157
 
 
8,007
 
 
169,164
 
General and Administrative
 
 
3,758,437
 
 
604,117
 
 
4,362,554
 
(Loss) from Operations
 
 
(3,910,673)
 
 
(310,404)
 
 
(4,221,077)
 
Foreign Currency Gain (Loss)
 
 
(9,718)
 
 
-
 
 
(9,718)
 
Loss from the conversion of debt
 
 
(44,000)
 
 
-
 
 
(44,000)
 
Interest Income
 
 
-
 
 
997
 
 
997
 
Interest Expense
 
 
51,670
 
 
13,941
 
 
65,611
 
(Loss) Before Income Taxes
 
 
(4,016,061)
 
 
(323,348)
 
 
(4,339,409)
 
(Provision) For Income Taxes
 
 
-
 
 
-
 
 
-
 
Net Loss
 
$
(4,016,061)
 
$
(323,348)
 
$
(4,339,409)
 
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]
Revenues as shown below represent sales to external customers for each segment. Additions to long-lived assets as presented in the following table represent capital expenditures. Inventories, property and equipment for operating segments are regularly reviewed by management and are therefore provided below.
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
2013
 
2012
 
2013
 
2012
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
203,943
 
$
148,226
 
$
574,179
 
$
601,230
 
Republic of China (Taiwan)
 
 
364,975
 
 
232,947
 
 
1,404,127
 
 
1,551,262
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
568,918
 
$
381,173
 
$
1,978,306
 
$
2,152,492
 
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
September 30,
 
September 30,
 
 
 
2013
 
2012
 
2013
 
2012
 
Operating earnings (loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
(1,433,885)
 
$
(713,160)
 
$
(3,910,673)
 
$
(2,216,260)
 
Republic of China (Taiwan)
 
 
(114,752)
 
 
(96,449)
 
 
(310,404)
 
 
(215,043)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
(1,548,637)
 
$
(809,609)
 
$
(4,221,077)
 
$
(2,431,303)
 
 
 
 
Nine Months Ended
 
 
 
September 30,
 
 
 
2013
 
2012
 
Property and equipment
 
 
 
 
 
 
 
United States
 
$
438,686
 
$
580,014
 
Republic of China (Taiwan)
 
 
12,525
 
 
31,095
 
 
 
 
 
 
 
 
 
 
 
$
451,211
 
$
611,109
 
 
 
 
Nine Months Ended
 
 
 
September 30,
 
 
 
2013
 
2012
 
Additions to long-lived assets
 
 
 
 
 
 
 
United States
 
$
86,868
 
 
223,705
 
Republic of China (Taiwan)
 
 
(1,660)
 
 
11,884
 
 
 
 
 
 
 
 
 
 
 
$
85,208
 
 
235,589
 
 
 
 
Nine Months Ended
 
 
 
September 30,
 
 
 
2013
 
2012
 
Inventory
 
 
 
 
 
 
 
United States
 
$
51,955
 
$
810
 
Republic of China (Taiwan)
 
 
156,178
 
 
106,766
 
 
 
 
 
 
 
 
 
 
 
$
208,133
 
$
107,576
 
 
 
 
Nine Months Ended
 
 
 
September 30,
 
 
 
2013
 
2012
 
Total Assets
 
 
 
 
 
 
 
United States
 
$
2,467,126
 
$
1,898,479
 
Republic of China (Taiwan)
 
 
2,154,036
 
 
1,924,128
 
 
 
 
 
 
 
 
 
 
 
$
4,621,162
 
$
3,822,607