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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 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
 
$
10,000
 
2014
 
$
20,000
 
2015
 
$
20,000
 
2016
 
$
20,000
 
Thereafter
 
$
86,666
 
Total
 
$
156,666
 
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
 
 
 
 
 
 
 
 
 
United States
 
$
241,557
 
$
2,798,691
 
Asia
 
$
1,039,151
 
$
151,892
 
Mexico
 
$
128,680
 
 
-
 
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 June 30, 2013
Iveda Solutions, Inc.
 
Three Months
Ended June 30, 2013
MegaSys
 
Condensed
Consolidated
Total
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
222,988
 
$
571,178
 
$
794,166
 
Cost of Revenue
 
 
174,443
 
 
453,491
 
 
627,934
 
Gross Profit
 
 
48,545
 
 
117,687
 
 
166,232
 
Depreciation and Amort.
 
 
53,587
 
 
2,678
 
 
56,265
 
General and Administrative
 
 
1,329,674
 
 
229,133
 
 
1,558,807
 
(Loss) from Operations
 
 
(1,334,716)
 
 
(114,124)
 
 
(1,448,840)
 
Foreign Currency Gain (Loss)
 
 
(918)
 
 
-
 
 
(918)
 
Loss from the conversion of debt
 
 
(27,500)
 
 
 
 
 
(27,500)
 
Interest Income
 
 
-
 
 
997
 
 
997
 
Interest Expense
 
 
25,413
 
 
5,247
 
 
30,660
 
(Loss) Before Income Taxes
 
 
(1,388,547)
 
 
(118,374)
 
 
(1,506,921)
 
(Provision) For Income Taxes
 
 
-
 
 
-
 
 
-
 
Net Loss
 
$
(1,388,547)
 
$
(118,374)
 
$
(1,506,921)
 
  
 
 
Six Months
 
 
 
 
 
 
 
 
Ended June 30,
2013
 
Six Months
Ended June 30,
 
Condensed
 
 
 
Iveda Solutions,
 
2013
 
Consolidated
 
 
 
Inc.
 
MegaSys
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
370,237
 
$
1,039,151
 
$
1,409,388
 
Cost of Revenue
 
 
353,272
 
 
839,610
 
 
1,192,882
 
Gross Profit
 
 
16,965
 
 
199,541
 
 
216,506
 
Depreciation and Amortization
 
 
107,976
 
 
5,373
 
 
113,349
 
General and Administrative
 
 
2,381,986
 
 
390,820
 
 
2,772,806
 
(Loss) from Operations
 
 
(2,472,997)
 
 
(196,652)
 
 
(2,669,649)
 
Foreign Currency Gain (Loss)
 
 
(1,107)
 
 
-
 
 
(1,107)
 
Loss from the conversion of debt
 
 
(44,000)
 
 
-
 
 
(44,00)
 
Interest Income
 
 
-
 
 
997
 
 
997
 
Interest Expense
 
 
39,994
 
 
9,396
 
 
49,390
 
(Loss) Before Income Taxes
 
 
(2,558,098)
 
 
(205,051)
 
 
(2,763,149)
 
(Provision) For Income Taxes
 
 
-
 
 
-
 
 
-
 
Net Loss
 
$
(2,558,098)
 
$
(205,051)
 
$
(2,763,149)
 
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
 
Six Months Ended
 
 
 
June 30,
 
June 30,
 
Revenues
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
222,988
 
 
221,606
 
$
370,237
 
 
453,005
 
Republic of China (Taiwan)
 
 
571,178
 
 
838,890
 
 
1,039,151
 
 
1,318,315
 
 
 
$
794,166
 
 
1,060,496
 
$
1,409,388
 
 
1,771,320
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
Six Months Ended
 
 
 
June 30,
 
June 30,
 
Operating earnings (loss)
 
2013
 
2012
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
 
$
(1,334,716)
 
 
(771,266)
 
$
(2,472,997)
 
 
(1,503,100)
 
Republic of China (Taiwan)
 
 
(114,124)
 
 
(65,716)
 
 
(196,652)
 
 
(118,593)
 
 
 
$
(1,448,840)
 
 
(836,982)
 
$
(2,669,649)
 
 
(1,621,693)
 
   
 
 
Six Months Ended
June 30,
 
Property and equipment
 
2013
 
2012
 
United States
 
$
469,598
 
$
605,691
 
Republic of China (Taiwan)
 
 
11,832
 
 
17,750
 
 
 
 
 
 
 
 
 
 
 
$
481,430
 
$
623,261
 
  
 
 
Six Months Ended
June 30,
 
 
 
2013
 
2012
 
Additions to long-lived assets
 
 
 
 
 
 
 
United States
 
$
68,598
 
 
130,513
 
Republic of China (Taiwan)
 
 
(8,514)
 
 
(614)
 
 
 
 
 
 
 
 
 
 
 
$
60,084
 
 
129,899
 
 
 
 
Six Months Ended
June 30,
 
 
 
2013
 
2012
 
Inventory
 
 
 
 
 
 
 
United States
 
$
32,656
 
$
4,974
 
Republic of China (Taiwan)
 
 
124,916
 
 
134,719
 
 
 
 
 
 
 
 
 
 
 
$
157,572
 
$
139,693
 
   
 
 
Six Months Ended
June 30,
 
 
 
2013
 
2012
 
Total Assets
 
 
 
 
 
 
 
United States
 
$
2,825,183
 
$
1,825,035
 
Republic of China (Taiwan)
 
 
2,722,010
 
 
2,468,874
 
 
 
 
 
 
 
 
 
 
 
$
5,547,193
 
$
4,293,909