Unassociated Document
United
States Securities And Exchange Commission
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date
of Report (Date of Earliest Event Reported): January 27,
2010
(January
21, 2010)
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IVEDA CORPORATION
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(Exact
name of registrant as specified in its charter)
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Nevada
(State
or other jurisdiction
of
incorporation)
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000-53285
(Commission
File
Number)
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98-0611159
(IRS
Employer
Identification
No.)
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1201 South Alma School Road,
Suite 4450, Mesa, Arizona 85210
(Address
of principal executive offices) (Zip Code)
(480)
307-8700
(Registrant's
telephone number)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
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Item
3.02.
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Unregistered
Sales of Equity Securities
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On
January 21, 2010, Iveda Corporation (the "Company") sold 1,400,000 shares of its
common stock, $0.00001 par value per share, for cash consideration of
$1,400,000. The 1.4 million shares were sold pursuant to the
exemption from registration provided by Section 4(2) of the Securities Act of
1933, as amended, and Rule 506 and Regulation D promulgated thereunder, as a
sale to a single, private, accredited investor. The shares were
acquired for investment and are restricted. No cash fees or
commissions were paid by the Company in connection with this sale, although the
Company issued warrants to purchase shares of its common stock to 2 entities
which acted as finders in connection with the sale of the 1.4 million
shares. The warrants are exercisable at $1 per share and have a 2
year term for the warrants to purchase 250,000 shares of common stock issued to
one of the finders and are exercisable at $1.10 per share and have a 5 year term
for the warrants to purchase 35,000 shares of common stock issued to the other
finder. The warrants were also issued pursuant to the exemption from
registration provided by Section 4(2) of the Securities Act of 1933, as amended,
and Rule 506 and Regulation D promulgated thereunder, as issuances to a limited
number of individuals qualifying as “accredited investors”. Shares to
be issued upon exercise of the warrants will be restricted.
SIGNATURES
In
accordance with the requirements of the Exchange Act, the Registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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Iveda Corporation, a
Nevada corporation |
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| Dated: January 26, 2010 |
By:
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/s/ David
Ly |
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David
Ly, CEO
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