Iveda Solutions restates 2023 & 2024 financials; net losses increase by $1.4M-$1.6M

Iveda Solutions, Inc.

Restatement due to multiple errors including improper capitalization of software dev costs, deferred tax asset write-off, and intercompany payable.
Net loss for nine months ended Sep 30, 2023 restated to $2.68M from $2.14M; loss per share changed from $0.13 to $0.27.
Net loss for nine months ended Sep 30, 2024 restated to $2.47M from $2.16M; loss per share went from $0.13 to $1.24.
Former auditor BF Borgers banned by SEC; company engaged Weinberg & Co to re-audit 2023 and 2024 financials.

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