secwatch.observer — SEC 8-K summary
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Issuer:     Iveda Solutions, Inc. (IVDA)
CIK:        0001397183
Form:       8-K
Filed at:   2025-04-15T23:59:59+00:00
Accession:  0001641172-25-004772
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1397183/000164117225004772/0001641172-25-004772-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1397183/000164117225004772/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-004772

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