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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2014
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
 
 
 
 
 
 
 
 
 
2014
 
$
15,000
 
2015
 
 
20,000
 
2016
 
 
20,000
 
2017
 
 
20,000
 
Thereafter
 
 
66,666
 
Total
 
$
141,666
 
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 are as follows:
 
 
 
Net Revenues
 
Net Assets
(Liabilities)
 
 
 
 
 
 
 
 
 
United States
 
$
142,510
 
$
(1,265,181)
 
Asia
 
$
171,554
 
$
481,258
 
Mexico
 
$
60,800
 
 
-
 
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
Ended March 31, 2014
Iveda Solutions, Inc.
 
Three Months
Ended March 31, 2014
MegaSys
 
Condensed
Consolidated
Total
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
203,309
 
$
171,554
 
$
374,863
 
Cost of Revenue
 
 
175,481
 
 
35,053
 
 
210,534
 
Gross Profit
 
 
27,828
 
 
136,501
 
 
164,329
 
Depreciation and Amortization.
 
 
51,319
 
 
3,005
 
 
54,324
 
General and Administrative
 
 
1,287,847
 
 
185,559
 
 
1,473,406
 
Loss from Operations
 
 
(1,311,338)
 
 
(52,063)
 
 
(1,363,401)
 
Foreign Currency Gain (Loss)
 
 
(200)
 
 
2,434
 
 
2,234
 
Gain on derivatives
 
 
11,600
 
 
-
 
 
11,600
 
Interest Income
 
 
-
 
 
3
 
 
3
 
Interest Expense
 
 
(52,941)
 
 
(3,063)
 
 
(56,004)
 
Loss Before Income Taxes
 
 
(1,352,879)
 
 
(52,689)
 
 
(1,405,568)
 
Provision For Income Taxes
 
 
-
 
 
-
 
 
-
 
Net Loss
 
$
(1,352,879)
 
$
(52,689)
 
$
(1,405,568)
 
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
 
 
 
March 31,
 
 
 
2014
 
2013
 
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
203,309
 
$
147,249
 
Republic of China (Taiwan)
 
 
171,554
 
 
467,973
 
 
 
$
374,863
 
$
615,222
 
 
 
 
Three Months Ended
 
 
 
March 31,
 
 
 
2014
 
2013
 
Operating earnings (loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
(1,311,338)
 
$
(1,138,281)
 
Republic of China (Taiwan)
 
 
(52,063)
 
 
(82,528)
 
 
 
$
(1,363,401)
 
$
(1,220,809)
 
 
 
 
Three Months Ended
March 31,
 
 
 
2014
 
2013
 
Property and equipment
 
 
 
 
 
 
 
United States
 
$
520,178
 
$
455,416
 
Republic of China (Taiwan)
 
 
38,153
 
 
25,557
 
 
 
 
 
 
 
 
 
 
 
$
558,331
 
$
480,973
 
 
 
 
Three Months Ended
March 31,
 
 
 
2014
2013
 
Additions to long-lived assets
 
 
 
 
 
 
 
United States
 
$
129,087
 
$
16,656
 
Republic of China (Taiwan)
 
 
8,042
 
 
-
 
 
 
 
 
 
 
 
 
 
 
$
137,129
 
$
16,656
 
 
 
 
Three Months Ended
March 31,
 
 
 
2014
 
2013
 
Inventory
 
 
 
 
 
 
 
United States
 
$
166,679
 
$
32,294
 
Republic of China (Taiwan)
 
 
227,748
 
 
129,017
 
 
 
 
 
 
 
 
 
 
 
$
394,427
 
$
161,311
 
 
 
 
Three Months Ended
March 31,
 
 
 
2014
 
2013
 
Total Assets
 
 
 
 
 
 
 
United States
 
$
1,728,682
 
$
3,111,469
 
Republic of China (Taiwan)
 
 
2,552,631
 
 
2,546,165
 
 
 
 
 
 
 
 
 
 
 
$
4,281,313
 
$
5,657,634