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NOTE 1 NATURE OF OPERATIONS Nature of Operations Iveda has been offering real-time IP video surveillance technologies to our customers since 2005. While we still offer video surveillance technologies, our core product line has evolved to include AI intelligent video search technology that provides true intelligence to any video surveillance system and IoT (Internet of Things) devices and platforms. Iveda also offers smart utility, smart sensors, gateways and trackers. Our evolution is in response to digital transformation demands from many cities and organizations across the globe. Our IvedaAI® intelligent video search technology adds critical intelligence to normally passive video surveillance systems. IvedaAI provides AI functions to any IP camera and most popular network video recorders (NVR) and video management systems (VMS). IvedaAI comes with an appliance or server, preconfigured with multiple AI functions based on the end user requirements. AI Functions <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Object Search</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Face Search (No Database Required)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">● </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Face Recognition (from a Database)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">License Plate Recognition (100+ Countries), includes make and model</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Intrusion Detection</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Weapon Detection</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fire Detection</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">People Counting</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vehicle Counting</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Temperature Detection</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Public Health Analytics (Facemask Detection)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">QR and Barcode Detection</td></tr> </table> Key Features <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Live Camera View</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Live Tracking</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Abnormality Detection – Vehicle/Person wrong direction detection</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Vehicle/Person Loitering Detection </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Fall Detection</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Illegal Parking Detection </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Heatmap Generation</td></tr> </table> IvedaAI consists of deep-learning video analytics software running in a computer/server environment that can either be deployed at an edge level or data center for centralized cloud model. We combined hardware and artificial intelligence software for fast and efficient video search for objects stored in an external (NVR) or storage device and live streaming video data from any IP camera. IvedaAI works with any ONVIF-compliant IP cameras and most popular NVR/VMS (Video Management System) platforms, enabling accurate search across dozens to thousands of cameras in less than one second. IvedaAI products are designed to maximize efficiency, save time, and cut cost. Instead of watching hours of video recording after-the-fact, users can set up alerts. Iveda offers many IoT sensors and devices for various applications, such as energy management, smart home, smart building, smart community and patient/elder care. Our gateway and station serve as the main hub for sensors and devices in any given area. They are equipped with high-level communication protocols such as Zigbee, WiFi, Bluetooth, and USB. They connect to the Internet via Ethernet or cellular data network. We provide IoT platforms that enable centralized device management and push digital services on a massive scale. Our smart devices include water sensor, environment sensor, entry sensor, smart plug, siren, body temperature pad, a care wristwatch and tracking devices. We also offer smart power technology for office buildings, schools, shopping centers, hotels, hospitals, and smart city projects. Our smart power hardware is equipped with an RS485 communication interface allowing the meters to be connected to various third-party SCADA software for monitoring and control purposes. This line of products includes smart power, water meter, smart lighting controls systems, and smart payment system. Iveda’s Cerebro is a software technology platform that integrates a multitude of disparate systems for central access and management of applications, subsystems, and devices throughout an entire environment. It is system agnostic and will support cross-platform interoperability. Cerebro’s roadmap includes a dashboard for all of Iveda’s platforms for central management of all devices. It provides remote access to a Dashboard for a single user interface, providing convenient anywhere, anytime access and analysis of relevant information in a timely manner for managing an entire organization or city. Cerebro links city systems and subsystems inseparably to each other. This integration and unification of all subsystems enable acquisition and analysis of all information on one central entity allowing comprehensive, effective and overall management and protection of a city. IvedaSPS is our smart power solution, utilizing our Cerebro IoT platform. This completes our digital transformation solution crucial in smart city deployments as well as in large organizations. We offer smart power technology for office buildings, schools, shopping centers, hotels, hospitals, and smart city projects. This product includes smart power, water meter, smart lighting controls systems, and smart payment system. In the last few years, smart city has been a hot topic among cities across the globe. With little to no human interaction, technology increases efficiency, expedites decision making, and reduces response time. Dwindling public safety budgets and resources have necessitated this transformation. More and more municipalities are using next-generation technologies to improve the safety and security of its citizens. Our response is our complete suite of IoT technologies, including AI intelligent video search technology, smart sensors, tracking devices, video surveillance systems, and smart power. Utilus is our smart pole solution, utilizing our Cerebro IoT platform. This completes our digital transformation solution crucial in smart city deployments as well as in large organizations. Iveda leverages infrastructure already available in most modern cities – Light poles with power. We equip existing poles with Utilus. Utilus consists of power and internet, establishing a communication network for access and management of sensors and devices that the city requires to keep its citizens safe and secure and to effectively manage utility consumption. Our smart pole offering is also ideal for: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Government or large-scale city deployments</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Supporting and Improving City Services </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Reducing Emergency Response Times </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Crime & Hazard Protection </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Monitoring and Improving Air Quality </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Sound Detection </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Traffic Monitoring and Mobility as a Service </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Data Analytics and Monetization Opportunities</td></tr> </table> vumastAR is an AI vision software that uses video taken on IP cameras, AR glasses, Androids, and tablets to analyze and process data in real-time. vumastAR is fully customizable to the user’s needs, with one short video the AI can be trained in as little as two hours. Deployable in multiple industries for uses such as: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Quality and Maintenance Exams: vumastAR has the power to assist with critical measuring of carcinogenic chemical compound levels, electrical wiring, and welding inspections.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Factory and Line Work: Fast and accurate machine recognition enables itemized counting, inventory audits, and assembly kitting. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Pharma: Accurately identify and quantify medication, greatly reducing the manual labor of counting pills while eliminating human error. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Supply Chain: Detect defects and anomalies for improved accuracy, increasing the bottom line by actively reducing lost revenue incurred from manual mistakes. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Manufacturing: Digitalize meter and gauge reading and monitoring, as well as part number identification, with the ability to turn analog information into digital data. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Transportation: Enhance safety and security for operations including loading and unloading tanker trucks, protecting both personnel and products/equipment.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Retail: Ensure correct item identification and organization, providing increased accuracy for retail checkout and product categorization, ultimately impacting revenue streams.</td></tr> </table> vumastAR is sold as a license per device with a monthly subscription requirement for cloud access to trained AI models. IvedaXpress is a system that enables users to use pre-existing IP cameras and apply AI analytics without the need for large servers or a dedicated IT department. Designed to be plug-and-play IvedaXpress provides a hassle free set up process with no maintenance required for hardware. Each IP camera is hosted from a local computer or smartphone for live viewing and playback. Video may be stored on that local computer or stored remotely using free storage from Amazon or Dropbox. Iveda Smart UVC is a Commercial-grade, AI-driven Ultraviolet Germicidal Irradiation (UVGI). Iveda Smart UVC adds UV lights to standard HVAC vents for quick, easy, and inexpensive deployment to homes and commercial buildings. Leveraging the existing air circulation system, Iveda Smart UVC vents disinfect the air by irradiating UV light on the passing air. Eliminating the need to manually disinfect offices, meeting rooms, and other workspaces. Iveda Smart UVC can be Integrated with Iveda SPS (smart power management) and sensors to efficiently and effectively operate the light source upon detected movement. Iveda’s Smart Drones are flown to perform certain functions from an aerial view without the need for a pilot onboard. Smart Drones utilize AI-based software for autonomous operation and navigation from taking off, returning to base, carrying out mission-critical tasks or simply doing an aerial patrol, without the need of human intervention. Unlike typical drones, Iveda Smart Drones are cloud-based and can be part of a network of drones for central management. They are equipped with Iveda’s Sentir Video Surveillance System and IvedaAI Intelligent Video Search Technology. Iveda Smart Drone product offering is robust and expansive for a multitude of industrial, commercial, and military applications. Key Features of Iveda’s Smart Drone: Fully Autonomous Scheduled autonomous take-off, flight mission execution, monitoring, landing and recharging Easy operation and 24-7 flight mission Intelligent Computing Live video streaming - real-time object recognition and tracking Onboard (edged) AI and data analysis Safety Design Multiply redundant and fail-safe systems Weather resistant industrial grade systems (IP54) Designed and made in Taiwan (MIT) Skywatch Planning and editing real-time/timed missions User/Group permission control & flight data management Failsafe alarm and FPV gimbal control Insight Automated orthorectified service of imagery (2D/3D) AI technology for inspecting natural disasters, vehicle & pedestrian tracking, and energy facilities inspection. Visualizing geographic data and analysis report <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Propellers: 8 (multiply redundant)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Diagonal Footprint: 29.76” / 756 mm</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Weight: 14.1lbs / 6.4 Kg</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Hover time: 30 mins</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Wind tolerance: Beaufort scale – 6</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">IP rating: IP54</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Camera sensor: Dual RGB, IR/thermal</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Network: 5G/4G LTE and 2.4G Wi-Fi</td></tr> </table> The Smart Utility Cabinet gives end users a convenient tool to monitor their daily energy consumption, to pinpoint electrical leaks, and to prevent power line overload and potential fire. It utilizes IoT sensors to detect abnormalities in consumption, temperature and tampering. Iveda Smart Utility Cabinet has an internal environment control design, housed in a durable industrial-grade cabinet. It includes a smart edge computing gateway with multi-RF communication protocols such as 4G, Z-Wave and WiFi and tampering sensor for unauthorized access. Smart water meter and gas meter may be added to the Cabinet. Vemo Body Camera streams live video, using 4G, to headquarters and doubles as a walkie talkie with a push-to-talk feature. With its multi-mode audio, it can also be used for broadcasting and hands-free audio conferencing for group talk. Vemo has WiFi capability which is ideal for city-wide deployments. Vemo transmits live streaming video instantaneously to the cloud without additional software or hardware. Vemo’s cloud management platform can centrally manage an unlimited number of devices and video can be accessed on a PC, Android and iOS client. Moreover, Vemo can stream directly into the IvedaAI platform for real-time video analytics to search for faces, objects or license plates in real time. IvedaCare, launched in November 2022, is a simple, easy to use suite of wireless health and wellness devices intended to help you monitor the health and activities of your loved ones, even when you can’t be there yourself. Our mission is to help ensure your loved one’s safety and independence. Stay connected to your elderly loved ones with our advanced IoT devices for real-time monitoring, fall detection, medication reminders and more. With IvedaCare, you not only can monitor your home and loved ones from afar but can potentially make life-saving decisions using the app. Cloud-based, wireless sensors collect real-time data shared with the entire family circle within the app. Customers may add a subscription service for Pro Monitoring. If the Trusted Circle is unavailable, our emergency call center will dispatch emergency services quickly. Historically, we sold and installed video surveillance equipment, primarily for security purposes and secondarily for operational efficiencies and marketing. We also provided video hosting, in-vehicle streaming video, archiving, and real-time remote surveillance services to a variety of businesses and organizations. While we previously only used off-the shelf camera systems from well-known camera brands, we now source our own cameras using manufacturers in Taiwan in order for us to be more flexible in fulfilling our customer needs. We now have the capability to provide IP cameras and NVRs based on customer specifications. We still utilize ONVIF (Open Network Video Interface Forum) cameras, which are a global standard for the interface of IP-based physical security products. In 2014, we changed our revenue model from direct project-based sales to licensing our platform and selling IoT hardware to service providers such as telecommunications companies, integrators and other technology resellers already providing services to an existing customer base. Partnering with service providers that have an existing loyal subscriber base allows us to focus on servicing just a handful of our partners and concentrating on our technology offering. Service providers leverage their end-user infrastructure to sell, bill, and provide customer service for Iveda’s product offering. This business model provides dual revenue streams – one from hardware sales and the other from monthly licensing fees. Iveda Taiwan, our subsidiary in Taiwan, specializes in deploying new, and integrating existing, video surveillance systems for airports, commercial buildings, government customers, data centers, shopping centers, hotels, banks, and Safe City. Iveda Taiwan combines security surveillance products, software, and services to provide integrated security solutions to the end user. Through Iveda Taiwan, we have access not only to Asian markets but also to Asian manufacturers and engineering expertise. Iveda Taiwan is our research and development arm, working with a team of developers in Taiwan.

NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Consolidation Effective April 30, 2011, we completed our acquisition of Sole Vision Technologies (fka MEGAsys and dba Iveda Taiwan), a company based in Taiwan. We consolidate our financial statements with the financial statements of Iveda Taiwan. All intercompany balances and transactions have been eliminated in consolidation. We have non-controlling interests consolidated in the Company’s Unaudited Condensed Consolidated Financial Statements represent the interest in subsidiaries held by our venture partners. The venture partners hold a 60% noncontrolling interest in the Company’s consolidated subsidiary Iveda Phils, Inc. located in the Philippines. Since the Company consolidates the financial statements of all wholly-owned and controlled subsidiaries, the noncontrolling owners’ share of each subsidiaries’ results of operations are deducted from net income or loss in the Unaudited Condensed Consolidated Statements of Operations. Impairment of Long-Lived Assets We have a significant amount of property and equipment, and an intangible asset consisting of Cerebro, our software technology platform. We review the recoverability of the carrying value of long-lived assets using the methodology prescribed in ASC 360 “Property, Plant and Equipment.” We review our long-lived assets for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the undiscounted future net operating cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying value of the assets exceeds their fair value. We did not record any impairment losses for the three and nine months ended September 30, 2024 and 2023. Basis of Accounting Preparation Our consolidated financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America. Use of Estimates The preparation of Unaudited Condensed Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. Revenue and Expense Recognition The Company applies the provisions of Accounting Standards Codification (ASC) 606-10, Revenue from Contracts with Customers, and all related appropriate guidance. The Company recognizes revenue under the core principle to depict the transfer of control to its customers in an amount reflecting the consideration to which it expects to be entitled. In order to achieve that core principle, the Company applies the following five-step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. The Company considers customer purchase orders, which in some cases are governed by master sales agreements, to be the contracts with the customer. In situations where sales are to a distributor, the Company has concluded its contracts are with the distributor as the Company holds a contract bearing enforceable rights and obligations only with the distributor. As part of its consideration for the contract, the Company evaluates certain factors including the customers’ ability to pay (or credit risk). For each contract, the Company considers the promise to transfer products or completion of contracted scope of service, each of which is distinct, to be the identified performance obligations. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which it expects to be entitled. As the Company’s standard payment terms are less than one year, it has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on its relative standalone selling price. The product price as specified on the purchase order is considered the standalone selling price as it is an observable input which depicts the price as if sold to a similar customer in similar circumstances. Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligations are satisfied), which typically occurs at shipment. Further in determining whether control has been transferred, the Company considers if there is a present right to payment and legal title, along with risks and rewards of ownership having transferred to the customer. Customers do not have a right to return the product other than for warranty reasons for which they would only receive repair services or replacement product. The Company has also elected the practical expedient under ASC 340-40-25-4 to expense commissions for product sales when incurred as the amortization period of the commission asset the Company would have otherwise recognized is less than one year. The Company sells its products and services primarily to municipalities and commercial customers in the following manner: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The majority of Iveda Taiwan sales are project sales to Taiwan customers and are made direct to the end customer (typically a municipality or a commercial customer) through its sales force, which is composed of its employees. Revenue is recorded when the equipment is shipped to the end customer and charged for service when installation or maintenance work is performed.</td></tr> </table> Revenues from fixed-price equipment installation contracts (project sales) are recognized on the percentage-of-completion method. The percentage completed is measured by the percentage of costs incurred to date to estimated total costs for each contract. This method is used because management considers expended costs to be the best available measure of progress on these contracts. Because of inherent uncertainties in estimating costs and revenues, it is at least reasonably possible that the estimates used will change. Contract costs include all direct material, subcontractors, labor costs, and equipment costs related to contract performance. General and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Changes in estimated job profitability resulting from job performance, job conditions, contract penalty provisions, claims, change orders, and settlements are accounted for as changes in estimates in the current period. Profit incentives are included in revenues when their realization is reasonably assured. Claims are included in revenues when realization is probable and the amount can be reliably estimated. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Iveda US hardware sales are made through independent distributors or integrators who purchase products from the Company at a wholesale price and sell to the end user (typically municipalities or a commercial customer) at a retail price. The distributor retains the margin as its compensation for its role in the transaction. The distributor or integrator generally maintains product inventory or product is drop shipped from the manufacturer. Accordingly, upon application of steps one through five above, revenue is recorded when the product is shipped to the distributor or as directed by the distributor consistent with the terms of the distribution agreement.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Iveda US also sells software that includes licensing fees that are paid either monthly or yearly. The revenues are recorded monthly, if the license is paid yearly the revenue will be recorded as deferred revenue and amortized on a straight-line basis over the respective time period. </td></tr> </table> Comprehensive Loss Comprehensive loss is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, all items that are required to be recognized under current accounting standards as components of comprehensive income are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Our current component of other comprehensive income is the foreign currency translation adjustment. Concentrations Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash and cash equivalents and trade accounts receivable. Substantially all cash is deposited in three financial institutions, two in the United States and one in Taiwan. At times, amounts on deposit in the United States may be in excess of the FDIC insurance limit. Deposits in Taiwan financial institutions are insured by CDIC (Central Deposit Insurance Corporation) with maximum coverage of NTD 3 million. At times, amounts on deposit in Taiwan may be in excess of the CDIC Insurance limit. Accounts receivables are unsecured, and we are at risk to the extent such amount becomes uncollectible. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral. <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zBOD2W7kMkWf" title="Concentration risk, percentage">85% of the total accounts receivable at September 30, 2024 was from three customers out of a total of 25 customer accounts receivable accounts. The specific customers were Security Integration & Consultant Technology CO., LTD. (<span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ConsultantTechnologyCoLtdMember_zqKwMCXWAqP3" title="Concentration risk, percentage">38%), Chicony Power Technology Co., Ltd. (<span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_zSXDyECn2NF7" title="Concentration risk, percentage">34%) and Basecom Telecommunication Co., LTD (<span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--BasecomTelecommunicationCoLtdMember_zxmJJVxRmHO3" title="Concentration risk, percentage">13%). <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChunghwaTelecomMember_zasDTCG9FCs2" title="Concentration risk, percentage">50% of the total accounts receivable at December 31, 2023 was from one customer out of a total of 24 customer accounts receivable accounts. This specific customer was Chunghwa Telecom. Revenue from four customers out of 70 total customers represented approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zk7AsSCKYe1e" title="Concentration risk, percentage">88% of total revenue for the three months ended September 30, 2024. These specific customers were 1) Security Integration & Consultant Technology CO., LTD. (Taiwan company) with <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecurityIntegrationAndConsultantTechnologyCoLtdMember_zwHFyuWnOh64" title="Concentration risk, percentage">32%, 2) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_z5I8J4GioX74" title="Concentration risk, percentage">29%, 3) Basecom Telecommunication Co., LTD. with <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--BasecomTelecommunicationCoLtdMember_zoYqEvCRmYn5" title="Concentration risk, percentage">14% and 4) Claro Enterprise Solutions with <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ClaroEnterpriseSolutionsMember_zdoSEim0Fhk" title="Concentration risk, percentage">13% (US Company). Revenue from two customers out of 62 total customers represented approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_z2mVpIWtDFK5" title="Concentration risk, percentage">44% of total revenue for the three months ended September 30, 2023. The specific customers were 1) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_ze0Q7LqwccA3" title="Concentration risk, percentage">26% and 2) HWACOM Systems Inc. (Taiwan company) with <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--HWACOMSystemsIncMember_zGa4OV5yT58" title="Concentration risk, percentage">18%. Revenue from five customers out of 72 total customers represented approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveCustomersMember_zYXsZhyMm3T7" title="Concentration risk, percentage">76% of total revenue for the nine months ended September 30, 2024. These specific customers were 1) Security Integration & Consultant Technology CO., LTD. (Taiwan company) with <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecurityIntegrationAndConsultantTechnologyCoLtdMember_zr0d8CAp8dVj" title="Concentration risk, percentage">19%, 2) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_ziZMAYEN82Xh" title="Concentration risk, percentage">16%, 3) HWACOM Systems Inc. (Taiwan company) with <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--HWACOMSystemsIncMember_zFYgfFwS0KUa" title="Concentration risk, percentage">15%, 4) Claro Enterprise Solutions with <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ClaroEnterpriseSolutionsMember_zP8c3HNBMssa" title="Concentration risk, percentage">14% (US Company) and 5) Chunghwa Telecom (Taiwan company) with <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChunghwaTelecomMember_zZ67KvPLWZ01" title="Concentration risk, percentage">13%. Revenue from two customers out of 65 total customers represented approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_za43bKVEcvsg" title="Concentration risk, percentage">57% of total revenue for the nine months ended September 30, 2023. These specific customers were 1) YOU MING HUEI CO. LTD. (Taiwan company) with <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--YouMingHueiCoLtdMember_zCiYIipXcIu1" title="Concentration risk, percentage">30% and 2) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_zslukGsz7m2" title="Concentration risk, percentage">27% No other customers represented greater than <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_z9egkrhf1Acj" title="Concentration risk, percentage"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zf3O5ATrQyP9" title="Concentration risk, percentage"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zR29pTfvpZ37" title="Concentration risk, percentage"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zDzIAc7AGgk" title="Concentration risk, percentage">10% of total revenues in the three months and nine months ended September 30, 2024 and three months and nine months ended September 30, 2023. Cash and Cash Equivalents We consider all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. Accounts Receivable Accounts receivable is recorded at the invoiced amount, net of allowance for expected credit losses. The Company’s primary allowance for credit losses is the allowance for doubtful accounts. The allowance for doubtful accounts reduces the Account receivable balance to the estimated net realizable value. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors. In establishing any required allowance, management considers historical losses adjusted for current market conditions, the Company’s customers financial condition, the amount of any receivables in dispute, the current receivables aging, current payment terms and expectations of forward-looking loss estimates. All provisions for the allowance for doubtful accounts are included as a component of general and administrative expenses on the accompanying Unaudited Condensed consolidated statements of operations and comprehensive loss. Accounts receivable deemed uncollectable are charged against the allowance for credit losses when identified. Subsequent recoveries of amounts previously written off are credited to earnings in the period recovered. As of September 30, 2024 and December 31, 2023, respectively, an allowance for uncollectible accounts of $0 and $0 was deemed necessary for our consolidated Accounts Receivable. Deposits – Current Our current deposits represent tender deposits placed with local governments and major customers in Taiwan during the bidding process for new proposed projects. Other Current Assets SCHEDULE OF OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240930_z20PAig0XAMi" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_zBjicvOLVp31" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz6PY_zECVgeS0RF86" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid Expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">235,820</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">236,098</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AdvancesOnInventoryPurchases_iI_maPEAOAz6PY_zBfYCdOoRSA" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances to Suppliers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,827</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepositsAssetsCurrent_iI_maPEAOAz6PY_zLk56sSpitX2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: justify">Tender Deposits</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">196,665</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">83,656</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherAssetsCurrent_iTI_mtPEAOAz6PY_zoRucH8N1Zn2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other Current Assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">548,312</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">435,581</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> Inventories We do not manufacture product hence all of our inventory is finished goods to be sold or used in the installation process. We review our inventories for excess or obsolete products based on an analysis of historical usage and an evaluation of estimated future demand, market conditions, and alternative uses for possible excess or obsolete parts. The allowance for slow-moving and obsolete inventory is $0 and $0, as of September 30, 2024 and December 31, 2023, respectively. Property and Equipment Property and equipment are stated at cost. Depreciation is computed primarily using the straight-line method over estimated useful lives of three to seven years. Expenditures for routine maintenance and repairs are charged to expense as incurred. Depreciation expense for the three and nine months ended September 30, 2024 were $8,000 and $23,806, respectively. Depreciation expense for the three and nine months ended September 30, 2023 were $11,122 and $18,313, respectively. Intangible Asset Intangible Asset – Cerebro Software Platform is our software technology platform contract developed during 2023 and 2024 and is expected to be deployed at the beginning of 2025. Cerebro is a software technology platform that integrates a multitude of disparate systems for central access and management of applications, subsystems, and devices throughout an entire environment. It is system agnostic and will support cross-platform interoperability. Cerebro’s roadmap includes a dashboard for all of Iveda’s platforms for central management of all devices. It provides remote access to a Dashboard for a single user interface, providing convenient anywhere, anytime access and analysis of relevant information in a timely manner for managing an entire organization or city. Cerebro links city systems and subsystems inseparably to each other. This integration and unification of all subsystems enable acquisition and analysis of all information on one central entity allowing comprehensive, effective and overall management and protection of a city. Our intangible assets are stated at cost and will be amortized using a straight-line method over estimated useful lives to be determined once it is deployed and put into service. Other Assets Other assets consist of long-term deposits related to the leases of Iveda Taiwan’ office space, and tender deposits placed with local governments and major customers in Taiwan as part of the bidding process, which are anticipated to be held more than one year if the bid is accepted. Income Taxes Deferred income taxes are recognized in the consolidated financial statements for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates. Temporary differences arise from sales cut-off, depreciation, deferred rent expense, and net operating losses. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that represents our best estimate of such deferred tax assets that, more likely than not, will be realized. Income tax expense is the tax payable for the year and the change during the year in deferred tax assets and liabilities. During the nine months ended September 30, 2024 and nine months ended September 30, 2023, we reevaluated the valuation allowance for deferred tax assets and determined that no current benefits should be recognized for the nine months ended September 30, 2024 and for the nine months ended September 30, 2023. We are subject to U.S. federal income tax as well as state income tax. Our U.S. income tax returns are subject to review and examination by federal, state, and local authorities. Our U.S. tax returns for the years 2020 to 2023 are open to examination by federal, local, and state authorities. Our Taiwan tax returns are subject to review and examination by the Taiwan Ministry of Finance. Our Taiwan tax return for the years 2020 to 2023 are open to examination by the Taiwan Ministry of Finance. Restricted Cash Restricted cash represents time deposits on account to secure short-term bank loans in our Taiwan-based segment. Accounts and Other Payables SCHEDULE OF ACCOUNTS AND OTHER PAYABLES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240930_zkHHmRFNbakh" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20231231_zQayfnzlaW3b" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsPayableCurrent_iI_maCzllP_zxOc2mP2Fp89" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts Payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,985,221</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">179,949</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccruedLiabilitiesCurrent_iI_maCzllP_z8GVNVcMCDn5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">666,049</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">900,928</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredRevenueCurrent_iI_maCzllP_zUBFOzVEuRFj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred Revenue, Customer Deposits, & Taxes Payable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,157</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29,210</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_mtCzllP_zEOuEqClr3ok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accounts and Other Payables Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,701,427</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,110,087</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> Deferred Revenue Advance payments received from customers on future installation projects are recorded as deferred revenue. Non-Controlling Interests Non-controlling interests in the Company’s Unaudited Condensed Consolidated Financial Statements represent the interest in subsidiaries held by our venture partners. The venture partners hold a 60% noncontrolling interest in the Company’s consolidated subsidiary Iveda Phils, Inc. located in the Philippines. Since the Company consolidates the financial statements of all wholly-owned and controlled subsidiaries, the noncontrolling owners’ share of each subsidiaries’ results of operations are deducted from net income or loss in the Unaudited Condensed Consolidated Statements of Operations. Stock-Based Compensation We record stock-based compensation in accordance with the provisions of ASC 718. We recognize stock-based compensation expense on a straight-line basis over the requisite service period of the award. The fair value of stock-based compensation awards granted prior to, but not yet vested as of September 30, 2024 and 2023, were estimated using the “minimum value method” as prescribed by original provisions of ASC 718, “Accounting for Stock-Based Compensation.” We recognized $0 and $25,600 stock-based compensation expense for the three and nine months ended September 30, 2024 and no stock- based compensation expense for three and nine months ended September 30, 2023. Cost of Financing Cost of Financing consists of legal and accounting charges related to finance offerings as an offset to additional paid in capital. Fair Value of Financial Instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to us as of September 30, 2024 and December 31, 2023. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accounts receivable, accounts payable, accrued expenses, and bank loans. Fair values were assumed to approximate carrying values for these financial instruments because they are short-term in nature or because they are receivable or payable on demand. Segment Information We conduct operations in various geographic regions. The operations conducted and the customer bases located in the foreign countries are similar to the business conducted and the customer bases located in the United States. The net revenues for other significant geographic regions are as follows: SCHEDULE OF NET REVENUE AND NET ASSETS (LIABILITIES) FOR OTHER SIGNIFICANT GEOGRAPHIC REGIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Net Revenue for the nine months ended September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Net Revenue for the nine months ended September 30, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pp0p0_c20240101__20240930__srt--StatementGeographicalAxis__country--US_zlf4q1zwohT3" style="width: 16%; text-align: right" title="Net Revenue">629,028</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--Revenues_pp0p0_c20230101__20230930__srt--StatementGeographicalAxis__country--US_zhiHP135kcXh" style="width: 16%; text-align: right" title="Net Revenue">799,356</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Republic of China (Taiwan)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20240930__srt--StatementGeographicalAxis__custom--RepublicOfChinaTaiwanMember_zo6X036CCRR6" style="text-align: right" title="Net Revenue">3,649,955</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20230101__20230930__srt--StatementGeographicalAxis__custom--RepublicOfChinaTaiwanMember_zaWGVB26NSZ6" style="text-align: right" title="Net Revenue">4,670,337</td><td style="text-align: left"> </td></tr> </table> Furthermore, due to operations in various geographic locations, we are susceptible to changes in national, regional, and local economic conditions, demographic trends, consumer confidence in the economy, and discretionary spending priorities that may have a material adverse effect on our future operations and results. We are required to collect certain taxes and fees from customers on behalf of government agencies and remit them back to the applicable governmental agencies on a periodic basis. The taxes and fees are legal assessments to the customer, for which we have a legal obligation to act as a collection agent. Because we do not retain the taxes and fees, we do not include such amounts in revenue. We record a liability when the amounts are collected and relieve the liability when payments are made to the applicable governmental agencies. Reclassification Certain amounts in 2023 have been reclassified to conform to the 2024 presentation. New Accounting Standards Financial Instruments - Credit Losses The Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit losses on financial instruments later codified as Accounting Standard codification (“ASC 326”), effective January 1, 2023, using a modified retrospective approach. The guidance introduces a revised approach to the recognition and measurement of credit losses, emphasizing an updated model based on expected losses rather than incurred losses. There was no significant impact on the date of adoption of ASC 326. Under ASC 326, Accounts receivable is recorded at the invoiced amount, net of allowance for expected credit losses. The Company’s primary allowance for credit losses is the allowance for doubtful accounts. The allowance for doubtful accounts reduces the Account receivable balance to the estimated net realizable value. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors. In establishing any required allowance, management considers historical losses adjusted for current market conditions, the Company’s customers financial condition, the amount of any receivables in dispute, the current receivables aging, current payment terms and expectations of forward-looking loss estimates. All provisions for the allowance for doubtful accounts are included as a component of general and administrative expenses on the accompanying Unaudited Condensed consolidated statements of operations and comprehensive loss. Accounts receivable deemed uncollectable are charged against the allowance for credit losses when identified. Subsequent recoveries of amounts previously written off are credited to earnings in the period recovered.

Consolidation Effective April 30, 2011, we completed our acquisition of Sole Vision Technologies (fka MEGAsys and dba Iveda Taiwan), a company based in Taiwan. We consolidate our financial statements with the financial statements of Iveda Taiwan. All intercompany balances and transactions have been eliminated in consolidation. We have non-controlling interests consolidated in the Company’s Unaudited Condensed Consolidated Financial Statements represent the interest in subsidiaries held by our venture partners. The venture partners hold a 60% noncontrolling interest in the Company’s consolidated subsidiary Iveda Phils, Inc. located in the Philippines. Since the Company consolidates the financial statements of all wholly-owned and controlled subsidiaries, the noncontrolling owners’ share of each subsidiaries’ results of operations are deducted from net income or loss in the Unaudited Condensed Consolidated Statements of Operations.

0.60

Impairment of Long-Lived Assets We have a significant amount of property and equipment, and an intangible asset consisting of Cerebro, our software technology platform. We review the recoverability of the carrying value of long-lived assets using the methodology prescribed in ASC 360 “Property, Plant and Equipment.” We review our long-lived assets for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the undiscounted future net operating cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying value of the assets exceeds their fair value. We did not record any impairment losses for the three and nine months ended September 30, 2024 and 2023.

Basis of Accounting Preparation Our consolidated financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.

Use of Estimates The preparation of Unaudited Condensed Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates.

Revenue and Expense Recognition The Company applies the provisions of Accounting Standards Codification (ASC) 606-10, Revenue from Contracts with Customers, and all related appropriate guidance. The Company recognizes revenue under the core principle to depict the transfer of control to its customers in an amount reflecting the consideration to which it expects to be entitled. In order to achieve that core principle, the Company applies the following five-step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. The Company considers customer purchase orders, which in some cases are governed by master sales agreements, to be the contracts with the customer. In situations where sales are to a distributor, the Company has concluded its contracts are with the distributor as the Company holds a contract bearing enforceable rights and obligations only with the distributor. As part of its consideration for the contract, the Company evaluates certain factors including the customers’ ability to pay (or credit risk). For each contract, the Company considers the promise to transfer products or completion of contracted scope of service, each of which is distinct, to be the identified performance obligations. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which it expects to be entitled. As the Company’s standard payment terms are less than one year, it has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on its relative standalone selling price. The product price as specified on the purchase order is considered the standalone selling price as it is an observable input which depicts the price as if sold to a similar customer in similar circumstances. Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligations are satisfied), which typically occurs at shipment. Further in determining whether control has been transferred, the Company considers if there is a present right to payment and legal title, along with risks and rewards of ownership having transferred to the customer. Customers do not have a right to return the product other than for warranty reasons for which they would only receive repair services or replacement product. The Company has also elected the practical expedient under ASC 340-40-25-4 to expense commissions for product sales when incurred as the amortization period of the commission asset the Company would have otherwise recognized is less than one year. The Company sells its products and services primarily to municipalities and commercial customers in the following manner: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The majority of Iveda Taiwan sales are project sales to Taiwan customers and are made direct to the end customer (typically a municipality or a commercial customer) through its sales force, which is composed of its employees. Revenue is recorded when the equipment is shipped to the end customer and charged for service when installation or maintenance work is performed.</td></tr> </table> Revenues from fixed-price equipment installation contracts (project sales) are recognized on the percentage-of-completion method. The percentage completed is measured by the percentage of costs incurred to date to estimated total costs for each contract. This method is used because management considers expended costs to be the best available measure of progress on these contracts. Because of inherent uncertainties in estimating costs and revenues, it is at least reasonably possible that the estimates used will change. Contract costs include all direct material, subcontractors, labor costs, and equipment costs related to contract performance. General and administrative costs are charged to expense as incurred. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability may result in revisions to costs and income and are recognized in the period in which the revisions are determined. Changes in estimated job profitability resulting from job performance, job conditions, contract penalty provisions, claims, change orders, and settlements are accounted for as changes in estimates in the current period. Profit incentives are included in revenues when their realization is reasonably assured. Claims are included in revenues when realization is probable and the amount can be reliably estimated. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.75in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Iveda US hardware sales are made through independent distributors or integrators who purchase products from the Company at a wholesale price and sell to the end user (typically municipalities or a commercial customer) at a retail price. The distributor retains the margin as its compensation for its role in the transaction. The distributor or integrator generally maintains product inventory or product is drop shipped from the manufacturer. Accordingly, upon application of steps one through five above, revenue is recorded when the product is shipped to the distributor or as directed by the distributor consistent with the terms of the distribution agreement.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Iveda US also sells software that includes licensing fees that are paid either monthly or yearly. The revenues are recorded monthly, if the license is paid yearly the revenue will be recorded as deferred revenue and amortized on a straight-line basis over the respective time period. </td></tr> </table>

Comprehensive Loss Comprehensive loss is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, all items that are required to be recognized under current accounting standards as components of comprehensive income are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Our current component of other comprehensive income is the foreign currency translation adjustment.

Concentrations Financial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash and cash equivalents and trade accounts receivable. Substantially all cash is deposited in three financial institutions, two in the United States and one in Taiwan. At times, amounts on deposit in the United States may be in excess of the FDIC insurance limit. Deposits in Taiwan financial institutions are insured by CDIC (Central Deposit Insurance Corporation) with maximum coverage of NTD 3 million. At times, amounts on deposit in Taiwan may be in excess of the CDIC Insurance limit. Accounts receivables are unsecured, and we are at risk to the extent such amount becomes uncollectible. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral. <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ThreeCustomersMember_zBOD2W7kMkWf" title="Concentration risk, percentage">85% of the total accounts receivable at September 30, 2024 was from three customers out of a total of 25 customer accounts receivable accounts. The specific customers were Security Integration & Consultant Technology CO., LTD. (<span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ConsultantTechnologyCoLtdMember_zqKwMCXWAqP3" title="Concentration risk, percentage">38%), Chicony Power Technology Co., Ltd. (<span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_zSXDyECn2NF7" title="Concentration risk, percentage">34%) and Basecom Telecommunication Co., LTD (<span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--BasecomTelecommunicationCoLtdMember_zxmJJVxRmHO3" title="Concentration risk, percentage">13%). <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChunghwaTelecomMember_zasDTCG9FCs2" title="Concentration risk, percentage">50% of the total accounts receivable at December 31, 2023 was from one customer out of a total of 24 customer accounts receivable accounts. This specific customer was Chunghwa Telecom. Revenue from four customers out of 70 total customers represented approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FourCustomersMember_zk7AsSCKYe1e" title="Concentration risk, percentage">88% of total revenue for the three months ended September 30, 2024. These specific customers were 1) Security Integration & Consultant Technology CO., LTD. (Taiwan company) with <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecurityIntegrationAndConsultantTechnologyCoLtdMember_zwHFyuWnOh64" title="Concentration risk, percentage">32%, 2) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_z5I8J4GioX74" title="Concentration risk, percentage">29%, 3) Basecom Telecommunication Co., LTD. with <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--BasecomTelecommunicationCoLtdMember_zoYqEvCRmYn5" title="Concentration risk, percentage">14% and 4) Claro Enterprise Solutions with <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ClaroEnterpriseSolutionsMember_zdoSEim0Fhk" title="Concentration risk, percentage">13% (US Company). Revenue from two customers out of 62 total customers represented approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_z2mVpIWtDFK5" title="Concentration risk, percentage">44% of total revenue for the three months ended September 30, 2023. The specific customers were 1) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_ze0Q7LqwccA3" title="Concentration risk, percentage">26% and 2) HWACOM Systems Inc. (Taiwan company) with <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--HWACOMSystemsIncMember_zGa4OV5yT58" title="Concentration risk, percentage">18%. Revenue from five customers out of 72 total customers represented approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--FiveCustomersMember_zYXsZhyMm3T7" title="Concentration risk, percentage">76% of total revenue for the nine months ended September 30, 2024. These specific customers were 1) Security Integration & Consultant Technology CO., LTD. (Taiwan company) with <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SecurityIntegrationAndConsultantTechnologyCoLtdMember_zr0d8CAp8dVj" title="Concentration risk, percentage">19%, 2) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_ziZMAYEN82Xh" title="Concentration risk, percentage">16%, 3) HWACOM Systems Inc. (Taiwan company) with <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--HWACOMSystemsIncMember_zFYgfFwS0KUa" title="Concentration risk, percentage">15%, 4) Claro Enterprise Solutions with <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ClaroEnterpriseSolutionsMember_zP8c3HNBMssa" title="Concentration risk, percentage">14% (US Company) and 5) Chunghwa Telecom (Taiwan company) with <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChunghwaTelecomMember_zZ67KvPLWZ01" title="Concentration risk, percentage">13%. Revenue from two customers out of 65 total customers represented approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_za43bKVEcvsg" title="Concentration risk, percentage">57% of total revenue for the nine months ended September 30, 2023. These specific customers were 1) YOU MING HUEI CO. LTD. (Taiwan company) with <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__dei--LegalEntityAxis__custom--YouMingHueiCoLtdMember_zCiYIipXcIu1" title="Concentration risk, percentage">30% and 2) Chicony Power Technology Co., Ltd. (Taiwan company) with <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--ChiconyPowerTechnologyCoLtdMember_zslukGsz7m2" title="Concentration risk, percentage">27% No other customers represented greater than <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240701__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_z9egkrhf1Acj" title="Concentration risk, percentage"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20240101__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zf3O5ATrQyP9" title="Concentration risk, percentage"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zR29pTfvpZ37" title="Concentration risk, percentage"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OtherCustomersMember__srt--RangeAxis__srt--MinimumMember_zDzIAc7AGgk" title="Concentration risk, percentage">10% of total revenues in the three months and nine months ended September 30, 2024 and three months and nine months ended September 30, 2023.

3000000

0.85

0.38

0.34

0.13

0.50

0.88

0.32

0.29

0.14

0.13

0.44

0.26

0.18

0.76

0.19

0.16

0.15

0.14

0.13

0.57

0.30

0.27

0.10

Cash and Cash Equivalents We consider all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents.

Accounts Receivable Accounts receivable is recorded at the invoiced amount, net of allowance for expected credit losses. The Company’s primary allowance for credit losses is the allowance for doubtful accounts. The allowance for doubtful accounts reduces the Account receivable balance to the estimated net realizable value. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors. In establishing any required allowance, management considers historical losses adjusted for current market conditions, the Company’s customers financial condition, the amount of any receivables in dispute, the current receivables aging, current payment terms and expectations of forward-looking loss estimates. All provisions for the allowance for doubtful accounts are included as a component of general and administrative expenses on the accompanying Unaudited Condensed consolidated statements of operations and comprehensive loss. Accounts receivable deemed uncollectable are charged against the allowance for credit losses when identified. Subsequent recoveries of amounts previously written off are credited to earnings in the period recovered. As of September 30, 2024 and December 31, 2023, respectively, an allowance for uncollectible accounts of $0 and $0 was deemed necessary for our consolidated Accounts Receivable.

Deposits – Current Our current deposits represent tender deposits placed with local governments and major customers in Taiwan during the bidding process for new proposed projects.

Other Current Assets SCHEDULE OF OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240930_z20PAig0XAMi" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_zBjicvOLVp31" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz6PY_zECVgeS0RF86" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid Expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">235,820</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">236,098</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AdvancesOnInventoryPurchases_iI_maPEAOAz6PY_zBfYCdOoRSA" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances to Suppliers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,827</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepositsAssetsCurrent_iI_maPEAOAz6PY_zLk56sSpitX2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: justify">Tender Deposits</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">196,665</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">83,656</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherAssetsCurrent_iTI_mtPEAOAz6PY_zoRucH8N1Zn2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other Current Assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">548,312</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">435,581</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

SCHEDULE OF OTHER CURRENT ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240930_z20PAig0XAMi" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231231_zBjicvOLVp31" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz6PY_zECVgeS0RF86" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid Expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">235,820</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">236,098</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AdvancesOnInventoryPurchases_iI_maPEAOAz6PY_zBfYCdOoRSA" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advances to Suppliers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115,827</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepositsAssetsCurrent_iI_maPEAOAz6PY_zLk56sSpitX2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: justify">Tender Deposits</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">196,665</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">83,656</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--OtherAssetsCurrent_iTI_mtPEAOAz6PY_zoRucH8N1Zn2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Other Current Assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">548,312</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">435,581</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

235820

236098

115827

196665

83656

548312

435581

Inventories We do not manufacture product hence all of our inventory is finished goods to be sold or used in the installation process. We review our inventories for excess or obsolete products based on an analysis of historical usage and an evaluation of estimated future demand, market conditions, and alternative uses for possible excess or obsolete parts. The allowance for slow-moving and obsolete inventory is $0 and $0, as of September 30, 2024 and December 31, 2023, respectively.

Property and Equipment Property and equipment are stated at cost. Depreciation is computed primarily using the straight-line method over estimated useful lives of three to seven years. Expenditures for routine maintenance and repairs are charged to expense as incurred. Depreciation expense for the three and nine months ended September 30, 2024 were $8,000 and $23,806, respectively. Depreciation expense for the three and nine months ended September 30, 2023 were $11,122 and $18,313, respectively.

P7Y

8000

23806

11122

18313

Intangible Asset Intangible Asset – Cerebro Software Platform is our software technology platform contract developed during 2023 and 2024 and is expected to be deployed at the beginning of 2025. Cerebro is a software technology platform that integrates a multitude of disparate systems for central access and management of applications, subsystems, and devices throughout an entire environment. It is system agnostic and will support cross-platform interoperability. Cerebro’s roadmap includes a dashboard for all of Iveda’s platforms for central management of all devices. It provides remote access to a Dashboard for a single user interface, providing convenient anywhere, anytime access and analysis of relevant information in a timely manner for managing an entire organization or city. Cerebro links city systems and subsystems inseparably to each other. This integration and unification of all subsystems enable acquisition and analysis of all information on one central entity allowing comprehensive, effective and overall management and protection of a city. Our intangible assets are stated at cost and will be amortized using a straight-line method over estimated useful lives to be determined once it is deployed and put into service.

Other Assets Other assets consist of long-term deposits related to the leases of Iveda Taiwan’ office space, and tender deposits placed with local governments and major customers in Taiwan as part of the bidding process, which are anticipated to be held more than one year if the bid is accepted.

Income Taxes Deferred income taxes are recognized in the consolidated financial statements for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates. Temporary differences arise from sales cut-off, depreciation, deferred rent expense, and net operating losses. Valuation allowances are established when necessary to reduce deferred tax assets to the amount that represents our best estimate of such deferred tax assets that, more likely than not, will be realized. Income tax expense is the tax payable for the year and the change during the year in deferred tax assets and liabilities. During the nine months ended September 30, 2024 and nine months ended September 30, 2023, we reevaluated the valuation allowance for deferred tax assets and determined that no current benefits should be recognized for the nine months ended September 30, 2024 and for the nine months ended September 30, 2023. We are subject to U.S. federal income tax as well as state income tax. Our U.S. income tax returns are subject to review and examination by federal, state, and local authorities. Our U.S. tax returns for the years 2020 to 2023 are open to examination by federal, local, and state authorities. Our Taiwan tax returns are subject to review and examination by the Taiwan Ministry of Finance. Our Taiwan tax return for the years 2020 to 2023 are open to examination by the Taiwan Ministry of Finance.

Restricted Cash Restricted cash represents time deposits on account to secure short-term bank loans in our Taiwan-based segment.

Accounts and Other Payables SCHEDULE OF ACCOUNTS AND OTHER PAYABLES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240930_zkHHmRFNbakh" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20231231_zQayfnzlaW3b" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsPayableCurrent_iI_maCzllP_zxOc2mP2Fp89" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts Payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,985,221</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">179,949</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccruedLiabilitiesCurrent_iI_maCzllP_z8GVNVcMCDn5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">666,049</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">900,928</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredRevenueCurrent_iI_maCzllP_zUBFOzVEuRFj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred Revenue, Customer Deposits, & Taxes Payable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,157</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29,210</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_mtCzllP_zEOuEqClr3ok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accounts and Other Payables Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,701,427</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,110,087</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

SCHEDULE OF ACCOUNTS AND OTHER PAYABLES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 75%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240930_zkHHmRFNbakh" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20231231_zQayfnzlaW3b" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsPayableCurrent_iI_maCzllP_zxOc2mP2Fp89" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accounts Payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,985,221</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">179,949</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccruedLiabilitiesCurrent_iI_maCzllP_z8GVNVcMCDn5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">666,049</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">900,928</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredRevenueCurrent_iI_maCzllP_zUBFOzVEuRFj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Deferred Revenue, Customer Deposits, & Taxes Payable</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">50,157</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29,210</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iTI_mtCzllP_zEOuEqClr3ok" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Accounts and Other Payables Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,701,427</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,110,087</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

1985221

179949

666049

900928

50157

29210

2701427

1110087

Deferred Revenue Advance payments received from customers on future installation projects are recorded as deferred revenue.

Non-Controlling Interests Non-controlling interests in the Company’s Unaudited Condensed Consolidated Financial Statements represent the interest in subsidiaries held by our venture partners. The venture partners hold a 60% noncontrolling interest in the Company’s consolidated subsidiary Iveda Phils, Inc. located in the Philippines. Since the Company consolidates the financial statements of all wholly-owned and controlled subsidiaries, the noncontrolling owners’ share of each subsidiaries’ results of operations are deducted from net income or loss in the Unaudited Condensed Consolidated Statements of Operations.

Stock-Based Compensation We record stock-based compensation in accordance with the provisions of ASC 718. We recognize stock-based compensation expense on a straight-line basis over the requisite service period of the award. The fair value of stock-based compensation awards granted prior to, but not yet vested as of September 30, 2024 and 2023, were estimated using the “minimum value method” as prescribed by original provisions of ASC 718, “Accounting for Stock-Based Compensation.” We recognized $0 and $25,600 stock-based compensation expense for the three and nine months ended September 30, 2024 and no stock- based compensation expense for three and nine months ended September 30, 2023.

25600

Cost of Financing Cost of Financing consists of legal and accounting charges related to finance offerings as an offset to additional paid in capital.

Fair Value of Financial Instruments Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to us as of September 30, 2024 and December 31, 2023. The respective carrying values of certain on-balance-sheet financial instruments approximate their fair values. These financial instruments include cash, accounts receivable, accounts payable, accrued expenses, and bank loans. Fair values were assumed to approximate carrying values for these financial instruments because they are short-term in nature or because they are receivable or payable on demand.

Segment Information We conduct operations in various geographic regions. The operations conducted and the customer bases located in the foreign countries are similar to the business conducted and the customer bases located in the United States. The net revenues for other significant geographic regions are as follows: SCHEDULE OF NET REVENUE AND NET ASSETS (LIABILITIES) FOR OTHER SIGNIFICANT GEOGRAPHIC REGIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Net Revenue for the nine months ended September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Net Revenue for the nine months ended September 30, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pp0p0_c20240101__20240930__srt--StatementGeographicalAxis__country--US_zlf4q1zwohT3" style="width: 16%; text-align: right" title="Net Revenue">629,028</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--Revenues_pp0p0_c20230101__20230930__srt--StatementGeographicalAxis__country--US_zhiHP135kcXh" style="width: 16%; text-align: right" title="Net Revenue">799,356</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Republic of China (Taiwan)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20240930__srt--StatementGeographicalAxis__custom--RepublicOfChinaTaiwanMember_zo6X036CCRR6" style="text-align: right" title="Net Revenue">3,649,955</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20230101__20230930__srt--StatementGeographicalAxis__custom--RepublicOfChinaTaiwanMember_zaWGVB26NSZ6" style="text-align: right" title="Net Revenue">4,670,337</td><td style="text-align: left"> </td></tr> </table> Furthermore, due to operations in various geographic locations, we are susceptible to changes in national, regional, and local economic conditions, demographic trends, consumer confidence in the economy, and discretionary spending priorities that may have a material adverse effect on our future operations and results. We are required to collect certain taxes and fees from customers on behalf of government agencies and remit them back to the applicable governmental agencies on a periodic basis. The taxes and fees are legal assessments to the customer, for which we have a legal obligation to act as a collection agent. Because we do not retain the taxes and fees, we do not include such amounts in revenue. We record a liability when the amounts are collected and relieve the liability when payments are made to the applicable governmental agencies.

SCHEDULE OF NET REVENUE AND NET ASSETS (LIABILITIES) FOR OTHER SIGNIFICANT GEOGRAPHIC REGIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Net Revenue for the nine months ended September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Net Revenue for the nine months ended September 30, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--Revenues_pp0p0_c20240101__20240930__srt--StatementGeographicalAxis__country--US_zlf4q1zwohT3" style="width: 16%; text-align: right" title="Net Revenue">629,028</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--Revenues_pp0p0_c20230101__20230930__srt--StatementGeographicalAxis__country--US_zhiHP135kcXh" style="width: 16%; text-align: right" title="Net Revenue">799,356</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Republic of China (Taiwan)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--Revenues_pp0p0_c20240101__20240930__srt--StatementGeographicalAxis__custom--RepublicOfChinaTaiwanMember_zo6X036CCRR6" style="text-align: right" title="Net Revenue">3,649,955</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--Revenues_pp0p0_c20230101__20230930__srt--StatementGeographicalAxis__custom--RepublicOfChinaTaiwanMember_zaWGVB26NSZ6" style="text-align: right" title="Net Revenue">4,670,337</td><td style="text-align: left"> </td></tr> </table>

629028

799356

3649955

4670337

Reclassification Certain amounts in 2023 have been reclassified to conform to the 2024 presentation.

New Accounting Standards Financial Instruments - Credit Losses The Company adopted Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit losses on financial instruments later codified as Accounting Standard codification (“ASC 326”), effective January 1, 2023, using a modified retrospective approach. The guidance introduces a revised approach to the recognition and measurement of credit losses, emphasizing an updated model based on expected losses rather than incurred losses. There was no significant impact on the date of adoption of ASC 326. Under ASC 326, Accounts receivable is recorded at the invoiced amount, net of allowance for expected credit losses. The Company’s primary allowance for credit losses is the allowance for doubtful accounts. The allowance for doubtful accounts reduces the Account receivable balance to the estimated net realizable value. The Company regularly reviews the adequacy of the allowance for credit losses based on a combination of factors. In establishing any required allowance, management considers historical losses adjusted for current market conditions, the Company’s customers financial condition, the amount of any receivables in dispute, the current receivables aging, current payment terms and expectations of forward-looking loss estimates. All provisions for the allowance for doubtful accounts are included as a component of general and administrative expenses on the accompanying Unaudited Condensed consolidated statements of operations and comprehensive loss. Accounts receivable deemed uncollectable are charged against the allowance for credit losses when identified. Subsequent recoveries of amounts previously written off are credited to earnings in the period recovered.

NOTE 3 SHORT-TERM AND LONG-TERM DEBT The short-term debt balances were as follows: SCHEDULE OF SHORT-TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loan from Shanghai Bank at 1%-3.2% interest rate per annum. Due in January 2024 and January 2025.</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zMfKhKrZh5i9" style="text-align: right" title="Short term debt">31,497</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zxBhT77Ao4r5" style="text-align: right" title="Short term debt">88,032</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Loan from Shanghai Bank at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MinimumMember_zEaoPaRs6xWl" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MinimumMember_zxmH0PJ8kuL1" title="Interest rate">1%-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MaximumMember_zt5tlREiJS7b" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MaximumMember_zN2fp8FvQBil" title="Interest rate">3.2% interest rate per annum. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zHcCWkqWvHwg" title="Debt instrument, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_z4zzH4MwGQD6" title="Debt instrument, maturity date">Due in January 2024 and January 2025.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zO8sHc6awM3c" style="width: 16%; text-align: right" title="Short term debt">31,497</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zbUhN2kdHyyj" style="width: 16%; text-align: right" title="Short term debt">88,032</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loan from HuaNam Bank at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_zoIMVgelNxhd" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_ziHX6gIlZVpb" title="Interest rate">3.4% interest rate per annum. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_zm6CuekA4Y0l" title="Debt instrument, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--DebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_znCVZIse0Wb8" title="Debt instrument, maturity date">Due in May 2024 and December 2024.</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_zAIW3wuz4LD5" style="text-align: right" title="Short term debt">94,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_z5r8lHQ30c2e" style="text-align: right" title="Short term debt">97,777</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loan from ChangHwa Bank at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zsUeL8Cp8Fqa" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zuL4VHh6tgvh" title="Interest rate">3.3% interest rate per annum. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_z9gO06P1R0Ti" title="Debt instrument, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--DebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zq2VfcnRpEhf" title="Debt instrument, maturity date">Due in November 2024.</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zSnu6ReT16Ei" style="border-bottom: Black 1pt solid; text-align: right" title="Short term debt">157,485</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zqGWZmVHe9sb" style="border-bottom: Black 1pt solid; text-align: right" title="Short term debt">162,962</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ShortTermBorrowings_iI_c20240930_zUNLOkyyPzKb" style="border-bottom: Black 2.5pt double; text-align: right" title="Short term debt">283,473</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShortTermBorrowings_iI_c20231231_zze0ISHjsPud" style="border-bottom: Black 2.5pt double; text-align: right" title="Short term debt">348,771</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Long-term debt balances were as follows: SCHEDULE OF LONG-TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans from Shanghai Bank with interest rates 2.09% per annum due January 2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LoansPayableCurrent_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zm9g8Q3iuVW7" style="text-align: right" title="Loans">545,948</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LoansPayableCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zG9OCBgIJQ5b" style="text-align: right" title="Loans">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Loans from Shanghai Bank with interest rates <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zLlNRF3vh69l" title="Debt interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zsKbJukfnGU5" title="Debt interest rate">2.09% per annum due <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_902_ecustom--LongTermDebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zXPZEQh2ph4c" title="Maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_902_ecustom--LongTermDebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zhKInlgSPM" title="Maturity date">January 2029</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayableCurrent_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zmJbmM9wq3x3" style="width: 16%; text-align: right" title="Loans">545,948</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayableCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zSs5R3wkJqYa" style="width: 16%; text-align: right" title="Loans">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Current Maturities of Long-term debt (classified under Current Liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtCurrent_iNI_di_c20240930_zlvTv5WxZYc1" style="border-bottom: Black 1pt solid; text-align: right" title="Current portion of long term debt">(125,988</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtCurrent_iNI_di_c20231231_zsJE01e3yQyk" style="border-bottom: Black 1pt solid; text-align: right" title="Current portion of long term debt">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermDebtNoncurrent_iI_c20240930_zGE9ppDsEop3" style="border-bottom: Black 2.5pt double; text-align: right" title="Long term debt">419,960</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtNoncurrent_iI_c20231231_zmWkXFsxYiH6" style="border-bottom: Black 2.5pt double; text-align: right" title="Long term debt">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SCHEDULE OF LONG TERM DEBT MATURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">Annual maturities of long-term debt during the next five years are as follows:</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240930_zZjdzaOAIDR1" style="border-bottom: Black 1pt solid; text-align: center">Amount Maturity</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzTtk_zkR4TSTiv2v2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">October 1, 2024 – December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">34,607</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzTtk_zUQwMcvzW7Ic" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzTtk_zP4iEylGOfP6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzTtk_zqDXT7d2QHgf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzTtk_zWwKYz3uE4aa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_maLTDzTtk_zHxwf88gNA1f" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: justify">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,433</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebt_iTI_mtLTDzTtk_zAHMVxtWudc7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">545,948</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

The short-term debt balances were as follows: SCHEDULE OF SHORT-TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loan from Shanghai Bank at 1%-3.2% interest rate per annum. Due in January 2024 and January 2025.</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zMfKhKrZh5i9" style="text-align: right" title="Short term debt">31,497</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zxBhT77Ao4r5" style="text-align: right" title="Short term debt">88,032</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Loan from Shanghai Bank at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MinimumMember_zEaoPaRs6xWl" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MinimumMember_zxmH0PJ8kuL1" title="Interest rate">1%-<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_908_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MaximumMember_zt5tlREiJS7b" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember__srt--RangeAxis__srt--MaximumMember_zN2fp8FvQBil" title="Interest rate">3.2% interest rate per annum. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zHcCWkqWvHwg" title="Debt instrument, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_eus-gaap--DebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_z4zzH4MwGQD6" title="Debt instrument, maturity date">Due in January 2024 and January 2025.</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zO8sHc6awM3c" style="width: 16%; text-align: right" title="Short term debt">31,497</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zbUhN2kdHyyj" style="width: 16%; text-align: right" title="Short term debt">88,032</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loan from HuaNam Bank at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_907_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_zoIMVgelNxhd" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_ziHX6gIlZVpb" title="Interest rate">3.4% interest rate per annum. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_zm6CuekA4Y0l" title="Debt instrument, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90A_eus-gaap--DebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_znCVZIse0Wb8" title="Debt instrument, maturity date">Due in May 2024 and December 2024.</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_zAIW3wuz4LD5" style="text-align: right" title="Short term debt">94,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--HuaNamBankMember_z5r8lHQ30c2e" style="text-align: right" title="Short term debt">97,777</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Loan from ChangHwa Bank at <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_906_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zsUeL8Cp8Fqa" title="Interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--DebtInstrumentInterestRateDuringPeriod_pid_dp_uPure_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zuL4VHh6tgvh" title="Interest rate">3.3% interest rate per annum. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_z9gO06P1R0Ti" title="Debt instrument, maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFNIT1JULVRFUk0gREVCVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_900_eus-gaap--DebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zq2VfcnRpEhf" title="Debt instrument, maturity date">Due in November 2024.</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShortTermBorrowings_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zSnu6ReT16Ei" style="border-bottom: Black 1pt solid; text-align: right" title="Short term debt">157,485</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShortTermBorrowings_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChangHwaBankMember_zqGWZmVHe9sb" style="border-bottom: Black 1pt solid; text-align: right" title="Short term debt">162,962</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--ShortTermBorrowings_iI_c20240930_zUNLOkyyPzKb" style="border-bottom: Black 2.5pt double; text-align: right" title="Short term debt">283,473</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShortTermBorrowings_iI_c20231231_zze0ISHjsPud" style="border-bottom: Black 2.5pt double; text-align: right" title="Short term debt">348,771</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

31497

88032

0.01

0.032

Due in January 2024 and January 2025

31497

88032

0.034

Due in May 2024 and December 2024

94491

97777

0.033

Due in November 2024

157485

162962

283473

348771

Long-term debt balances were as follows: SCHEDULE OF LONG-TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">December 31, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Loans from Shanghai Bank with interest rates 2.09% per annum due January 2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LoansPayableCurrent_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zm9g8Q3iuVW7" style="text-align: right" title="Loans">545,948</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LoansPayableCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zG9OCBgIJQ5b" style="text-align: right" title="Loans">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Loans from Shanghai Bank with interest rates <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_905_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zLlNRF3vh69l" title="Debt interest rate"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_pid_dp_uPure_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zsKbJukfnGU5" title="Debt interest rate">2.09% per annum due <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_902_ecustom--LongTermDebtInstrumentMaturityDateDescription_c20240101__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zXPZEQh2ph4c" title="Maturity date"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIExPTkctVEVSTSBERUJUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_902_ecustom--LongTermDebtInstrumentMaturityDateDescription_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zhKInlgSPM" title="Maturity date">January 2029</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--LoansPayableCurrent_iI_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zmJbmM9wq3x3" style="width: 16%; text-align: right" title="Loans">545,948</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--LoansPayableCurrent_iI_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ShanghaiBankMember_zSs5R3wkJqYa" style="width: 16%; text-align: right" title="Loans">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Current Maturities of Long-term debt (classified under Current Liabilities)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--LongTermDebtCurrent_iNI_di_c20240930_zlvTv5WxZYc1" style="border-bottom: Black 1pt solid; text-align: right" title="Current portion of long term debt">(125,988</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--LongTermDebtCurrent_iNI_di_c20231231_zsJE01e3yQyk" style="border-bottom: Black 1pt solid; text-align: right" title="Current portion of long term debt">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance at end of period</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--LongTermDebtNoncurrent_iI_c20240930_zGE9ppDsEop3" style="border-bottom: Black 2.5pt double; text-align: right" title="Long term debt">419,960</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--LongTermDebtNoncurrent_iI_c20231231_zmWkXFsxYiH6" style="border-bottom: Black 2.5pt double; text-align: right" title="Long term debt">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

545948

0.0209

January 2029 January 2029

545948

125988

419960

SCHEDULE OF LONG TERM DEBT MATURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">Annual maturities of long-term debt during the next five years are as follows:</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240930_zZjdzaOAIDR1" style="border-bottom: Black 1pt solid; text-align: center">Amount Maturity</td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40D_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_maLTDzTtk_zkR4TSTiv2v2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">October 1, 2024 – December 31, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">34,607</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_maLTDzTtk_zUQwMcvzW7Ic" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_iI_maLTDzTtk_zP4iEylGOfP6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_iI_maLTDzTtk_zqDXT7d2QHgf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_iI_maLTDzTtk_zWwKYz3uE4aa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">125,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_iI_maLTDzTtk_zHxwf88gNA1f" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: justify">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10,433</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebt_iTI_mtLTDzTtk_zAHMVxtWudc7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">545,948</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

34607

125227

10433

545948

NOTE 4 RELATED PARTY TRANSACTIONS We expensed $5,000 and $30,000 consulting expense for the three and nine months ended September 30, 2024, respectively to one of our board members. As of September 30, 2024, we had advances from a shareholder of Iveda Phil, Inc. currently recorded in Accounts and Other Payables of $17,723.

5000

30000

17723

NOTE 5 PREFERRED STOCK We are currently authorized to issue up to 12,500,000 shares of preferred stock, par value $0.00001 per share, 1,250,000 shares of which are designated as Series A Preferred Stock and 500 shares of which are designated as Series B Preferred Stock. Our Articles of Incorporation authorize the issuance of shares of preferred stock with designations, rights, and preferences determined from time to time by our Board of Directors. Accordingly, our Board of Directors is empowered, without stockholder approval, to issue preferred stock with dividend, liquidation, conversion, voting, or other rights which could adversely affect the voting power or other rights of the stockholders of our common stock. In the event of issuance, the preferred stock could be utilized, under certain circumstances, as a method of discouraging, delaying, or preventing a change in control of our company.

12500000

0.00001

1250000

500

NOTE 6 COMMON STOCK Common Stock We are authorized to issue up to 4,687,500 shares of common stock, par value $0.00001 per share. We effectuated a reverse stock split on September 17, 2024 of 1 for 8 shares of common stock. All share values within this report have been retroactively adjusted to the post reverse split values. All outstanding shares of our common stock are of the same class and have equal rights and attributes. The holders of our common stock are entitled to one vote per share on all matters submitted to a vote of the stockholders of our company. Our common stock does not have cumulative voting rights. Persons who hold a majority of the outstanding shares of our common stock are entitled to vote on the election of directors can elect all of the directors who are eligible for election. Holders of our common stock are entitled to share equally in dividends, if any, as may be declared from time to time by our Board of Directors. In the event of liquidation, dissolution, or winding up of our company, subject to the preferential liquidation rights of any series of preferred stock that we may from time to time designate, the holders of our common stock are entitled to share ratably in all of our assets remaining after payment of all liabilities and preferential liquidation rights. Holders of our common stock have no conversion, exchange, sinking fund, redemption, or appraisal rights (other than such as may be determined by the Board of Directors in its sole discretion) and have no preemptive rights to subscribe for any of our securities.

4687500

0.00001

1 for 8

NOTE 7 STOCK OPTION PLAN AND WARRANTS Stock Options On January 18, 2010, we adopted the 2010 Stock Option Plan (the “2010 Option Plan”), which allows the Board to grant options to purchase up to <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20100118__us-gaap--PlanNameAxis__custom--TwoThousandTenStockOptionPlanMember_zualgJyKfsj1" title="Number of shares authorized under plan">15,625 shares of common stock to directors, officers, key employees, and service providers of our company. In 2011, the 2010 Option Plan was amended to increase the number of shares issuable under the 2010 Option Plan to <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20111231__us-gaap--PlanNameAxis__custom--TwoThousandTenStockOptionPlanMember_zp0M5sA0Ny0c" title="Number of shares authorized under plan">46,875 shares. In 2012, 2010 Option Plan was again amended to increase the number of shares issuable under the 2010 Option Plan to <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20121231__us-gaap--PlanNameAxis__custom--TwoThousandTenStockOptionPlanMember_zP0MkTVFaiAf" title="Number of shares authorized under plan">203,125 shares. The shares issuable pursuant to the 2010 Option Plan are registered with the SEC under Forms S-8 filed on February 4, 2010 (No. 333- 164691), June 24, 2011 (No. 333-175143), and December 4, 2013 (No. 333-192655). The 2010 Option Plan expired on January 18, 2020. As of December 31, 2023 there were <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_pid_c20231231__us-gaap--PlanNameAxis__custom--TwoThousandTenStockOptionPlanMember_z7ok3fKbwJe6" title="Options outstanding">44,891 options outstanding under the 2010 Option Plan. On December 15, 2020, we adopted the Iveda Solutions, Inc. 2020 Plan (the “2020 Plan”). The 2020 Plan has a maximum of <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_c20201215__us-gaap--PlanNameAxis__custom--TwoThousandTwentyPlanMember__srt--RangeAxis__srt--MaximumMember_z8LsZ9VtnjD3" title="Number of shares authorized under plan">156,250 shares authorized with similar terms and conditions to the 2010 Option Plan. As of December 31, 2023 there were <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20231231__us-gaap--PlanNameAxis__custom--TwoThousandTwentyPlanMember_zfNobj9MsJjl" title="Options outstanding">117,735 options outstanding under the 2020 Option Plan. The shares issuable pursuant to the 2020 Option Plan are registered with the SEC under Form S-8 filed on October 7, 2022 (No. 333- 267792). As of September 30, 2024 and December 31, 2023, there were <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20240930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_znPXUYfKOeqa" title="Options outstanding">146,202 and <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iI_c20231231__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zjQBTo3DxkC" title="Options outstanding">162,625 options outstanding, respectively, under all the option plans. For the three and nine months ended September 30, 2024 there were <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240701__20240930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zi8Nh8VN8F0e" title="Options granted">0 and <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20240930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_z69gOqi3zQZh" title="Options granted">1,500 options granted, respectively, and <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20240701__20240930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zMIfG88Y5jE9" title="Options cancelled">782 and <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20240101__20240930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zitlLkYBpLV" title="Options cancelled">17,967 options cancelled, respectively. For the three and nine months ended September 30, 2023 there were <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_do_c20230701__20230930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zJ8ytaGtiJ9e" title="Options granted"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_do_c20230101__20230930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zsfVJzh3inz3" title="Options granted">no options granted and <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20230701__20230930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zShfMAuYhg0i" title="Options cancelled">157 and <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20230101__20230930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zgO93ZQbQQv2" title="Options cancelled">1,172 options were cancelled, respectively. The weighted average fair value of options issued during 2024 was $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20240101__20240930__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zepRVmbdP0R3" title="Weighted average fair value">2.88 and for those issued during 2023 was $<span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20230101__20231231__us-gaap--PlanNameAxis__custom--StockOptionPlanMember_zKkbY4dgZ1Uj" title="Weighted average fair value">2.72. <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_zzjurpJuezzk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Information with respect to stock options outstanding and exercisable at September 30, 2024 is as follows: SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE EXERCISE PRICE RANGE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Range of Exercise Prices</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding at September 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Exercisable at September 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">2.56- $142.08</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20240930_z1HPHuD2mrL7" style="width: 13%; text-align: right" title="Number of Option Outstanding">146,202</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240930_zrTpnSrtC1M2" style="width: 13%; text-align: right" title="Weighted Average Remaining Contractual Life Outstanding">6.5</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iI_c20240930_zmXF9ivBkPyc" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Outstanding">30.61</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_iI_c20240930_zLT9LhOxGKbi" style="width: 13%; text-align: right" title="Number of Option Exercisable">145,401</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20240930_zGJNIT8p0y6" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Exercisable">31.96</td><td style="width: 1%; text-align: left"> </td></tr> </table> Information with respect to stock options outstanding and exercisable at December 31, 2023 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Range of Exercise Prices</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding at December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Exercisable at December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">2.56- $142.08</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20231231_zjVHVMm9WWG1" style="width: 13%; text-align: right" title="Number of Option Outstanding">162,625</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_z2dm9Pm6eSnh" style="width: 13%; text-align: right" title="Weighted Average Remaining Contractual Life Outstanding">6.5</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iI_c20231231_z8qVO2Q8gbt6" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Outstanding">36.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_iI_c20231231_zvGB3pErMv1k" style="width: 13%; text-align: right" title="Number of Option Exercisable">157,547</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20231231_z0gR02CidSN3" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Exercisable">36.96</td><td style="width: 1%; text-align: left"> </td></tr> </table> Stock options may be granted as either incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), or as options not qualified under Section 422 of the Code. All options are issued with an exercise price at or above the fair market value of the common stock on the date of the grant as determined by our Board of Directors. Incentive stock option plan awards of restricted stock are intended to qualify as deductible performance-based compensation under Section 162(m) of the Code. Incentive Stock Option awards of unrestricted stock are not designed to be deductible to us under Section 162(m). Under the plans, stock options will terminate on the tenth anniversary date of the grant or earlier if provided in the grant. We have also granted non-qualified stock options to employees and contractors. All non-qualified options are generally issued with an exercise price no less than the fair value of the common stock on the date of the grant as determined by our Board of Directors. Options may be exercised up to ten years following the date of the grant, with vesting schedules determined by us upon grant. Vesting schedules vary by grant, with some fully vesting immediately upon grant to others that ratably vest over a period of time up to four years. Standard vested options may be exercised up to three months following date of termination of the relationship unless alternate terms are specified at grant. The fair values of options are determined using the Black-Scholes option-pricing model. The estimated fair value of options is recognized as expense on the straight-line basis over the options’ vesting periods. As of September 30, 2024 and December 31, 2023, we had approximately $37,000 and $62,000, respectively, unrecognized stock-based compensation. Warrants As of September 30, 2024 and December 31, 2023, there were 1,882,076 and 631,737 warrants outstanding, respectively. For the three and nine months ended September 30, 2024 there were <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240701__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zx4Rrah6tARc" title="Warrants granted">1,296,875 and <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zH47ngIsbHfb" title="Warrants granted">1,296,875 warrants granted, respectively, and <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20240701__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zT07o6Qbkj4i" title="Warrants cancelled">10,469 and <span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zy16NzMJ8Nb" title="Warrants cancelled">46,536 warrants cancelled, respectively. For the three and nine months ended September 30, 2023 there were <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20230701__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zIPy1Nx9qVHe" title="Warrants granted">157 and <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20230101__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zgRuV1jIrJIg" title="Warrants granted">157 warrants granted, respectively, and <span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20230701__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvuL3hNU0Ode" title="Warrants cancelled">6,752 and <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures_c20230101__20230930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zWwdQlVfEP8b" title="Warrants cancelled">81,311 options were cancelled, respectively. The weighted average fair value of warrants issued during 2023 was $<span id="xdx_901_ecustom--ClassOfWarrantOrRightOutstandingWeightedAverageFairValue_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_za9KuwAVwot1" title="Weighted average fair value warrants">1.92. Warrant transactions during nine months ended September 30, 2024 were as follows: SCHEDULE OF WARRANTS TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: left">Outstanding at Beginning of Year</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeoz3YoxxJ74" style="width: 16%; font-size: 10pt; text-align: right" title="Shares, Outstanding at Beginning of Year">631,737</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageExercisePriceValue_iS_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zO3ZkwUM7bp1" style="width: 16%; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Outstanding at Beginning of Year">2.66</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Granted</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zi7jxMvnTNS1" style="font-size: 10pt; text-align: right" title="Shares, Granted">1,296,875</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zsH3IjAbedpa" style="font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Granted">3.47</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Exercised</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvhjrriqUjeb" style="font-size: 10pt; text-align: right" title="Shares, Exercised">-</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionExercisedInPeriodWeightedAverageGrantDateFairValue_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zC4UUHhZ0wy9" style="font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Exercised">-</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Forfeited or Cancelled</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zso5USoduJB" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right" title="Shares, Forfeited or Cancelled">(46,536</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_98B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionForfeitedWeightedAverageGrantDateFairValue_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z65JzulWz7F8" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Forfeited or Cancelled">24.23</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Outstanding at September 30, 2024</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvAAf3cqsqmg" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Shares, Outstanding at End of Year">1,882,076</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageExercisePriceValue_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zwoip3GfLoEj" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Outstanding at Outstanding at End of Year">9.42</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Warrant Exercisable at September 30, 2024</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZDEGEA7AoXl" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Shares, Warrant Exercisable">585,200</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsExercisableWeightedAverageExercisePriceValue_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAFLr7plEGth" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Outstanding at Outstanding at End of Year">22.59</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Weighted-Average Fair Value of Warrants Granted During the Year</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zv7qaJyhjbqh" title="Weighted-Average Fair Value of Warrants Granted During the Year">2.02</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Information with respect to warrants outstanding and exercisable at September 30, 2024 is as follows: SCHEDULE OF WARRANTS OUTSTANDING AND EXERCISABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="font-size: 12pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Range of Exercise Prices</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Outstanding at September 30, 2024</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Exercisable at September 30, 2024</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right"> 4.30 - $85.12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zHtgkftM3li1" style="width: 13%; text-align: right" title="Warrants Outstanding">1,882,076</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_907_ecustom--WarrantsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zDFZe7x3ryVj" title="Warrants Outstanding, Weighted-Average Remaining Contractual Life">2.4</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--WarrantsOutstandingWeightedAverageExercisePriceValue_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zuQwFGxyDvNc" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price">9.42</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_znQdjQVP9KWl" style="width: 13%; text-align: right" title="Warrants Exercisable">585,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--WarrantsExercisableWeightedAverageExercisePriceValue_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zyayAR7UCCqb" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price,Warrants Exercisable">22.59</td><td style="width: 1%; text-align: left"> </td></tr> </table> Information with respect to warrants outstanding and exercisable at December 31, 2023 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="font-size: 12pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Range of Exercise Prices</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Outstanding at December 31, 2023</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Exercisable at December 31, 2023</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right"> 5.44 - $105.60</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zgLJs6kHo3Jf" style="width: 13%; text-align: right" title="Warrants Outstanding">631,737</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_900_ecustom--WarrantsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zJxg7BtQocq2" title="Warrants Outstanding, Weighted-Average Remaining Contractual Life">3.4</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_ecustom--WarrantsOutstandingWeightedAverageExercisePriceValue_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zreUMPaxTO2" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price">22.72</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zMlRittlNDld" style="width: 13%; text-align: right" title="Warrants Exercisable">631,737</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--WarrantsExercisableWeightedAverageExercisePriceValue_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvH3STD8NuEc" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price,Warrants Exercisable">22.72</td><td style="width: 1%; text-align: left"> </td></tr> </table>

15625

46875

203125

44891

156250

117735

146202

162625

1500

782

17967

157

1172

2.88

2.72

<p id="xdx_89A_eus-gaap--ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_zzjurpJuezzk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Information with respect to stock options outstanding and exercisable at September 30, 2024 is as follows: SCHEDULE OF STOCK OPTIONS OUTSTANDING AND EXERCISABLE EXERCISE PRICE RANGE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Range of Exercise Prices</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding at September 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Exercisable at September 30, 2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">2.56- $142.08</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20240930_z1HPHuD2mrL7" style="width: 13%; text-align: right" title="Number of Option Outstanding">146,202</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240930_zrTpnSrtC1M2" style="width: 13%; text-align: right" title="Weighted Average Remaining Contractual Life Outstanding">6.5</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iI_c20240930_zmXF9ivBkPyc" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Outstanding">30.61</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_iI_c20240930_zLT9LhOxGKbi" style="width: 13%; text-align: right" title="Number of Option Exercisable">145,401</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20240930_zGJNIT8p0y6" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Exercisable">31.96</td><td style="width: 1%; text-align: left"> </td></tr> </table> Information with respect to stock options outstanding and exercisable at December 31, 2023 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Options Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Range of Exercise Prices</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Outstanding at December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number Exercisable at December 31, 2023</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right">2.56- $142.08</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_iI_c20231231_zjVHVMm9WWG1" style="width: 13%; text-align: right" title="Number of Option Outstanding">162,625</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_z2dm9Pm6eSnh" style="width: 13%; text-align: right" title="Weighted Average Remaining Contractual Life Outstanding">6.5</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iI_c20231231_z8qVO2Q8gbt6" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Outstanding">36.00</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_iI_c20231231_zvGB3pErMv1k" style="width: 13%; text-align: right" title="Number of Option Exercisable">157,547</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_iI_c20231231_z0gR02CidSN3" style="width: 13%; text-align: right" title="Weighted Average Exercise Price Exercisable">36.96</td><td style="width: 1%; text-align: left"> </td></tr> </table>

2.56

142.08

146202

P6Y6M

30.61

145401

31.96

2.56

142.08

162625

P6Y6M

36.00

157547

36.96

37000

62000

1882076

631737

1296875

10469

46536

157

6752

81311

1.92

Warrant transactions during nine months ended September 30, 2024 were as follows: SCHEDULE OF WARRANTS TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; border-collapse: collapse; width: 85%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: center">Weighted- Average Exercise Price</td><td style="padding-bottom: 1pt; font-size: 10pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-size: 10pt; text-align: left">Outstanding at Beginning of Year</td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zeoz3YoxxJ74" style="width: 16%; font-size: 10pt; text-align: right" title="Shares, Outstanding at Beginning of Year">631,737</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 2%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left">$</td><td id="xdx_981_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageExercisePriceValue_iS_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zO3ZkwUM7bp1" style="width: 16%; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Outstanding at Beginning of Year">2.66</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Granted</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zi7jxMvnTNS1" style="font-size: 10pt; text-align: right" title="Shares, Granted">1,296,875</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_986_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zsH3IjAbedpa" style="font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Granted">3.47</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Exercised</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvhjrriqUjeb" style="font-size: 10pt; text-align: right" title="Shares, Exercised">-</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionExercisedInPeriodWeightedAverageGrantDateFairValue_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zC4UUHhZ0wy9" style="font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Exercised">-</td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Forfeited or Cancelled</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_iN_di_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zso5USoduJB" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right" title="Shares, Forfeited or Cancelled">(46,536</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_98B_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionForfeitedWeightedAverageGrantDateFairValue_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_z65JzulWz7F8" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Forfeited or Cancelled">24.23</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Outstanding at September 30, 2024</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvAAf3cqsqmg" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Shares, Outstanding at End of Year">1,882,076</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98A_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsWeightedAverageExercisePriceValue_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zwoip3GfLoEj" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Outstanding at Outstanding at End of Year">9.42</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 2.5pt">Warrant Exercisable at September 30, 2024</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZDEGEA7AoXl" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Shares, Warrant Exercisable">585,200</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"> </td><td id="xdx_98E_ecustom--SharebasedCompensationArrangementBySharebasedPaymentAwardNonOptionsExercisableWeightedAverageExercisePriceValue_iE_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zAFLr7plEGth" style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right" title="Weighted- Average Exercise Price, Outstanding at Outstanding at End of Year">22.59</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Weighted-Average Fair Value of Warrants Granted During the Year</td><td style="font-size: 10pt; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zv7qaJyhjbqh" title="Weighted-Average Fair Value of Warrants Granted During the Year">2.02</td><td style="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

631737

2.66

1296875

3.47

46536

24.23

1882076

9.42 585200 22.59

P2Y7D

Information with respect to warrants outstanding and exercisable at September 30, 2024 is as follows: SCHEDULE OF WARRANTS OUTSTANDING AND EXERCISABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="font-size: 12pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Range of Exercise Prices</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Outstanding at September 30, 2024</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Exercisable at September 30, 2024</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right"> 4.30 - $85.12</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zHtgkftM3li1" style="width: 13%; text-align: right" title="Warrants Outstanding">1,882,076</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_907_ecustom--WarrantsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20240101__20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zDFZe7x3ryVj" title="Warrants Outstanding, Weighted-Average Remaining Contractual Life">2.4</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_ecustom--WarrantsOutstandingWeightedAverageExercisePriceValue_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zuQwFGxyDvNc" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price">9.42</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_znQdjQVP9KWl" style="width: 13%; text-align: right" title="Warrants Exercisable">585,200</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--WarrantsExercisableWeightedAverageExercisePriceValue_iI_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zyayAR7UCCqb" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price,Warrants Exercisable">22.59</td><td style="width: 1%; text-align: left"> </td></tr> </table> Information with respect to warrants outstanding and exercisable at December 31, 2023 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="2" style="font-size: 12pt; text-align: center"> </td><td style="padding-bottom: 1pt; font-size: 12pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">Warrants Outstanding</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Warrants Exercisable</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Range of Exercise Prices</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Outstanding at December 31, 2023</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Remaining Contractual Life</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Number Exercisable at December 31, 2023</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td><td style="white-space: nowrap; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Weighted- Average Exercise Price</td><td style="white-space: nowrap; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">$</td><td style="width: 13%; text-align: right"> 5.44 - $105.60</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zgLJs6kHo3Jf" style="width: 13%; text-align: right" title="Warrants Outstanding">631,737</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 13%; text-align: right"><span id="xdx_900_ecustom--WarrantsOutstandingWeightedAverageRemainingContractualTerm_dtY_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zJxg7BtQocq2" title="Warrants Outstanding, Weighted-Average Remaining Contractual Life">3.4</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_ecustom--WarrantsOutstandingWeightedAverageExercisePriceValue_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zreUMPaxTO2" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price">22.72</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisableNumber_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zMlRittlNDld" style="width: 13%; text-align: right" title="Warrants Exercisable">631,737</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--WarrantsExercisableWeightedAverageExercisePriceValue_iI_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zvH3STD8NuEc" style="width: 13%; text-align: right" title="Weighted- Average Exercise Price,Warrants Exercisable">22.72</td><td style="width: 1%; text-align: left"> </td></tr> </table>

4.30

85.12

1882076

P2Y4M24D 9.42 585200 22.59

5.44

105.60

631737

P3Y4M24D 22.72 631737 22.72

NOTE 8 INCOME TAXES Taiwan (Republic of China) Corporate Tax Sole-Vision Technologies, Inc. (dba Iveda Taiwan) is a subsidiary of the Company which is operating in Taiwan as a profit-seeking enterprise. Its applicable corporate income tax rate is 17%. In addition, Taiwan’s corporate tax system allows the government to levy a 10% profit retention tax on undistributed earnings for the prior year. This tax will not be provided if the company distributed the earnings before the end of the fiscal year. According to the Taiwan corporate income tax (“TCIT”) reporting system, the TCIT sales cut-off base is concurrent with the business tax classified as value-added type (“VAT”) which will be reported to the Ministry of Finance (“MOF”) on a bi-monthly basis. Since the VAT and TCIT are accounted for on a VAT tax basis that recorded all sales on business tax on a VAT tax reporting system, the Company is bound to report the TCIT according to the MOF prescribed tax reporting rules. Under the VAT tax reporting system, sales cut-off did not take the accrual base but rather on a VAT taxable reporting basis. Therefore, when the company adopted US GAAP on accrual basis, the sales cut-off TCIT timing difference which derived from the VAT reporting system will create a temporary sales cut-off timing difference and this difference is reflected in the deferred tax assets or liabilities calculations.

Sole-Vision Technologies, Inc. (dba Iveda Taiwan) is a subsidiary of the Company which is operating in Taiwan as a profit-seeking enterprise. Its applicable corporate income tax rate is 17%. In addition, Taiwan’s corporate tax system allows the government to levy a 10% profit retention tax on undistributed earnings for the prior year. This tax will not be provided if the company distributed the earnings before the end of the fiscal year.

NOTE 9 EARNINGS (LOSS) PER SHARE The following table provides a reconciliation of the numerators and denominators reflected in the basic and diluted earnings per share computations, as required by ASC 260, “Earnings per Share.” Basic earnings per share (“EPS”) is computed by dividing reported earnings available to stockholders by the weighted average shares outstanding. We had net losses for the three and nine months ended September 30, 2024 and 2023 and the effect of including dilutive securities in the earnings per common share would have been anti-dilutive for the purpose of calculating EPS. Accordingly, all options, warrants, and shares potentially convertible into common shares were excluded from the calculation of diluted earnings per share for the three and nine months ended September 30, 2024 and 2023. SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240701__20240930_zLtbaYAulKH8" style="border-bottom: Black 1pt solid; text-align: center">Three months ended September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230701__20230930_zbMosU37HYZc" style="border-bottom: Black 1pt solid; text-align: center">Three months ended September 30, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and Diluted EPS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_z6u6xpwwk8Rf" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Net Loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(555,011</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(828,818</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Weighted Average Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,115,307</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,005,159</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and Diluted Loss Per Share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.26</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.41</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240101__20240930_zV9CnqEoMbv" style="border-bottom: Black 1pt solid; text-align: center">Nine months ended September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230101__20230930_zVhrix6v4DV" style="border-bottom: Black 1pt solid; text-align: center">Nine months ended September 30, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and Diluted EPS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_z9ORW5YZtMy3" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Net Loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,157,487</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,136,453</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Weighted Average Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,055,649</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,008,737</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and Diluted Loss Per Share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.05</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.07</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20240701__20240930_zLtbaYAulKH8" style="border-bottom: Black 1pt solid; text-align: center">Three months ended September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230701__20230930_zbMosU37HYZc" style="border-bottom: Black 1pt solid; text-align: center">Three months ended September 30, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and Diluted EPS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_z6u6xpwwk8Rf" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Net Loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(555,011</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(828,818</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Weighted Average Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,115,307</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,005,159</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and Diluted Loss Per Share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.26</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.41</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240101__20240930_zV9CnqEoMbv" style="border-bottom: Black 1pt solid; text-align: center">Nine months ended September 30, 2024 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20230101__20230930_zVhrix6v4DV" style="border-bottom: Black 1pt solid; text-align: center">Nine months ended September 30, 2023 (UNAUDITED)</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Basic and Diluted EPS</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLoss_z9ORW5YZtMy3" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Net Loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,157,487</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(2,136,453</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Weighted Average Shares</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,055,649</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,008,737</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Basic and Diluted Loss Per Share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.05</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.07</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-555011

-828818

2115307

2005159

-0.26

-0.41

-2157487

-2136453

2055649

2008737

-1.05

-1.07

NOTE 10 COMMITMENTS AND CONTINGENCIES Pursuant to certain contracts with Chicony Power Technology Co., Ltd., Siemens, Shihlin Electric & Engineering Corporation, and Chung-Hsin Electric and Machinery Manufacturing Corp., Iveda Taiwan is required to provide after-project services. If Iveda Taiwan fails to provide these after-project services in the future, other parties of the related contract would have recourse. The financial exposure to Iveda Taiwan in the event of failure to provide after- project services in the future as of September 30, 2024 is $<span id="xdx_909_eus-gaap--ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure_pp0p0_c20240101__20240930__dei--LegalEntityAxis__custom--MegasysMember_zaxpBk7ObSf7" title="Financial exposure contingent future payments">286,796. In the normal course of business, the Company is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, such as government investigations and tax matters. The Company recognizes a liability for such contingency if it determines it is probable that a loss will be incurred and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments including historical and the specific facts and circumstances of each matter. There are no such cases as of September 30, 2024.

286796

NOTE 11 SUBSEQUENT EVENTS The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the financial statements are available to be issued. Any material events that occur between the balance sheet date and the date that the financial statements were available for issuance are disclosed as subsequent events, while the financial statements are adjusted to reflect any conditions that existed at the balance sheet date. Based upon this review the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure.

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