WHOLLY OWNED FOREIGN SUBSIDIARIES

12 Months Ended

Dec. 31, 2013

Wholly Owned Foreign Subsidiaries [Abstract]

Wholly Owned Foreign Subsidiaries [Text Block]

NOTE 18 - WHOLLY OWNED FOREIGN SUBSIDIARIES

The financial statements of the Company’s wholly owned German subsidiary, I.D. Systems GmbH, and United Kingdom subsidiary, I.D. Systems (UK) Ltd (“Didbox”), are consolidated with the financial statements of I.D. Systems, Inc.

The net revenue and net loss for the GmbH included in the Consolidated Statement of Operations are as follows:

	Year Ended December 31,
	2011		2012		2013
Net revenue	$	1,576,000	$	1,198,000	$	1,128,000
Net loss		(109,000)		(420,000)		(395,000)

Total assets of the GmbH were $1,739,000 and $1,701,000 as of December 31, 2012 and 2013, respectively. The GmbH operates in a local currency environment using the Euro as its functional currency.

The net revenue and net loss for Didbox included in the consolidated statement of operations are as follows:

	Year Ended December 31,
	2011		2012		2013
Net revenue	$	763,000	$	1,133,000	$	1,643,000
Net loss		(123,000)		(98,000)		(27,000)

Didbox’s total assets were $1,291,000 and $2,200,000 as of December 31, 2012 and 2013, respectively. Didbox operates in a local currency environment using the British Pound as its functional currency.

Gains and losses resulting from foreign currency transactions are included in determining net income or loss. Foreign currency transaction (losses) gains for the years ended December 31, 2011, 2012 and 2013 of $(30,000), $(15,000) and $37,000, respectively, are included in selling, general and administrative expenses in the Consolidated Statement of Operations.