Business Context and Reporting Period
This Form 8-K filing by Iveda Solutions, Inc. reports a corporate event that occurred on July 30, 2012, with the report filed on August 3, 2012. The company is incorporated in Nevada and maintains its principal executive offices in Mesa, Arizona.
Key Financial Metrics
The filing details a specific capital raise event rather than comprehensive financial performance metrics.
- Capital Raised: $1,000,000
- Shares Issued: 1,000,000 shares of common stock
- Price Per Share: $1.00
- Revenue, Profit, Cash Flow, Debt, and Liquidity: The filing text does not provide a clear value for these operational metrics.
Material Changes
The primary material change reported is the unregistered sale of equity securities. The company issued 1,000,000 shares of common stock to a single investor in a private placement. This transaction increased the company's equity capital by $1,000,000.
Guidance, Outlook, and Risks
The filing does not contain management commentary, future guidance, or specific risk factors beyond the standard disclosure of the transaction. The sale was conducted under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D. The company relied on the following facts for the exemption:
- No general solicitation or advertising was used.
- The investor represented that they met the criteria of an "accredited investor."
- The investor was informed that the securities received were "restricted securities."
Investor Verification Checklist
- Verify the total number of outstanding shares post-transaction to assess dilution impact.
- Confirm the identity of the "certain investor" and their relationship to the company.
- Review subsequent filings to determine how the $1,000,000 proceeds were utilized.
- Check for any other unregistered sales of equity that may have occurred around the same period.