What changed in this filing

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Item 1. Business

2023-03-31 compared with 2022-03-31 · 78 added, 53 removed, 186 unchanged (41% of the section changed)

Solutions, Inc.

f/k/a Iveda Corporation (“Iveda”, or the “Company”) was incorporated in Nevada as Charmed Homes,

(“Iveda”, or the “Company”) was incorporated in Nevada as Charmed Homes, Inc.

in June 2006.

On October 15, 2009, IntelaSight, d/b/a Iveda, a Washington corporation, became a wholly owned subsidiary of the Company.

In December 2010, IntelaSight merged with and into the Company and the Company became the surviving company.

Iveda offered the first

cloud hosting of streaming and recorded video from security cameras for its customers and real-time remote surveillance service utilizing

intervention specialists to watch our customers’ cameras in real time, 24/7.

This unique service offering garnered Iveda a SAFETY

Act Designation from the Department of Homeland Security (DHS) in 2009, and a Certification in 2016, as a qualified anti-terrorism technology.

A technology may not receive Certification without having first received Designation., The Certification allows for the technology to

be listed on the DHS website as an approved technology.

Our application to renew our Certification was filed in August 2019 prior to

its expiration in October 2019.

The renewal process is taking longer due to COVID-19 but is in its final stages of review at the DHS

as of the date hereof.

April 2011, Iveda completed the acquisition of the Taiwan-based company Sole-Vision Technologies (doing business as MEGAsys®).

October 15, 2009, IntelaSight, d/b/a Iveda, a Washington corporation, became a wholly owned subsidiary of the Company.

In December 2010,

IntelaSight merged with and into the Company and the Company became the surviving company.

Iveda offered the first cloud hosting of streaming

and recorded video from security cameras for its customers and real-time remote surveillance service utilizing intervention specialists

to watch our customers’ cameras in real time, 24/7.

April 2011, Iveda completed the acquisition of the Taiwan-based company Sole-Vision Technologies (doing business as Iveda Taiwan).

Historically,

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other from monthly licensing fees.

our subsidiary in Taiwan, specializes in deploying new, and integrating existing, video surveillance systems for airports, commercial

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.

MEGAsys combines security surveillance

Iveda Taiwan combines security surveillance

products, software, and services to provide integrated security solutions to the end user.

Through MEGAsys, we have access not only to

Asian markets but also to Asian manufacturers and engineering expertise.

MEGAsys is our research and development arm, working with a

team of developers in Taiwan.

The company depends on MEGAsys as the majority of the company’s revenues have come from MEGAsys since

we acquired them in April 2011.

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.

The company depends on Iveda Taiwan as the majority of the company’s revenues have come from

Iveda Taiwan since we acquired them in April 2011.

specializes in AI and digital transformation technologies with real-world applications that improve quality of life and safety worldwide.

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productivity and employees and students for initial COVID-19 screening and contact tracing.

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, care watch and tracking devices.

Video is Iveda’s video surveillance solution for all kinds of applications.

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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.

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.

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.

is our smart power solution, utilizing our Cerebro IoT platform.

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them through one comprehensive user interface.

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.

Real-time monitoring, fall detection, medication reminders and more.

With IvedaCare,

you not only can monitor your home and loved ones from afar, but potentially life-saving decisions can be made using the app.

wireless sensors collect real-time data that is 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.

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

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.

smart pole offering is also ideal for government or large-scale city deployments.

and Improving City Services

Emergency Response Times

& Hazard Protection

and Improving Air Quality

Monitoring and Mobility as a Service

Analytics and Monetization Opportunities

business model in the US is to license our software to organizations already providing services to an existing customer base and facilitating

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and analytics hardware sales to the service providers and the other from software licensing fees.

continues to service its enterprise and government clients on a per-project basis.

Some of its customers include Chunghwa Telecom, the

Taiwan Stock Exchange, New Taipei City Police Department, and Taiwan Energy Systems.

Taiwan continues to service its enterprise and government clients on a per-project basis.

Some of its customers include Chunghwa Telecom,

the Taiwan Stock Exchange, New Taipei City Police Department, Chicony Power Technology Co, Ltd.

and Taiwan Energy Systems.

is a sample list of our present customers and partners

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and Development

new CTO is spearheading the continued development of Cerebro, our proprietary IoT platform, utilizing internal resources and outsourced

software engineers.

CTO is spearheading the continued development of Cerebro, our proprietary IoT platform, utilizing internal resources and outsourced software

regard certain aspects of our internal operations, products, and documentation as proprietary and rely on a combination of copyright

and trademark laws, trade secrets, software security measures, license agreements, and nondisclosure agreements to protect our proprietary

We do not currently hold any patents, but we have certain exclusive rights to relevant patents.

We own registered trademarks

for Iveda Solutions and its logo and Iveda and its logo from the U.S.

Patent and Trademark Office.

and trademark (federal and common) laws, trade secrets, software security measures, license agreements, and nondisclosure agreements

to protect our proprietary information.

We do not own any patents, but in November 2012 we licensed, through our subsidiary, Sole-Vision

Technologies, Inc., the right to use U.S.

8,719,442 (as well as its Taiwanese and Chinese counterparts) ITRI with respect

to the development of cloud-video technologies.

We also recognize common law trademarks for “Iveda Solutions” and “Iveda”

and its logo.

We have pending trademarks applications before the U.S.

Patent and Trademark Office for these marks.

cannot guarantee that our protections will be adequate or that our competitors will not independently develop technologies that are substantially

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and proprietary code for all our source coding.

November 2012, we signed a cooperation agreement with Industrial Technology Research Institute (ITRI), a research and development organization

based in Taiwan.

Together with ITRI, we have developed cloud-video technologies.

Pursuant to the cooperation agreement, we received the

right to license some of ITRI’s patents that were used in the development.

We also have exclusive rights to license the products

and services we develop in cooperation with ITRI.

do not believe that our proprietary rights infringe the intellectual property rights of third parties.

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Our employees are not represented by any collective bargaining unit.

maintain insurance, including comprehensive general liability coverage in amounts and type of coverage that we believe are customary

maintain insurance, including comprehensive general liability coverage, in amounts and types of coverage that we believe are customary

in our industry.

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On April 30, 2011,

we completed our acquisition of MEGAsys, which was incorporated in the Republic of China (Taiwan) on July 5, 1999.

common stock is traded on the OTCQB under the symbol “IVDA.”

we completed our acquisition of Iveda Taiwan, which was incorporated in the Republic of China (Taiwan) on July 5, 1999.

common stock is listed on NASDAQ under the symbol “IVDA.”

principal executive offices are located at 1744 Val Vista, Suite 213, Mesa, Arizona 85204 and our telephone number is (480) 307-8700.

MEGAsys’s headquarters is located at 2F,-15, No.

Iveda Taiwan’s headquarters is located at 2F,-15, No.

14, Lane 609, Sec.

5, Chongxin Rd., Sanchong City, Taipei County 241, Taiwan (R.O.C.).

5, Chongxin Rd., Sanchong City, Taipei County 241, Taiwan

We have two website addresses:

www.iveda.com and www.mega-sys.com .

Information contained on our websites does not constitute

a part of this Annual Report on Form 10-K.

The information contained on our websites does

not constitute a part of this Annual Report on Form 10-K.

electronically file our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all amendments

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business