| SHORT-TERM AND LONG-TERM DEBT |
NOTE
3 SHORT-TERM AND LONG-TERM DEBT
The
short-term debt balances were as follows:
SCHEDULE OF SHORT-TERM DEBT
| | |
June 30, 2026 | | |
December 31, 2025 | |
| | |
| | |
| |
| Loan
from ChangHwa Bank at 3.3% interest rate per annum. Due in Aug 2026. | |
| 157,267 | | |
| | |
| Loan
from ChangHwa Bank at 3.3% interest rate per annum. Due in Aug 2026. | |
| 157,267 | | |
| - | |
| Revolving
Loans from Shanghai Bank at 3.2%
interest rate per annum. Due
in January, 2027. (1) | |
| 157,268 | | |
| - | |
| | |
| | | |
| | |
| Term
Loan from HuaNam Bank at 3.45%
interest rate per annum. Due
in July 2026. (2) | |
| - | | |
| 159,500 | |
| Balance at end of period | |
$ | 314,535 | | |
$ | 159,500 | |
The
Long-term debt balances were as follows:
SCHEDULE OF LONG-TERM DEBT
| Loans from Shanghai Commercial Bank with interest rates 2.1% per annum due January 2029 (1) | |
$ | 325,018 | | |
$ | 393,432 | |
| Loans from Shanghai Commercial Bank with interest rates 2.1%
per annum due
January 2029 (1) | |
$ | 325,018 | | |
$ | 393,432 | |
| Current Portion of Long-term debt | |
| (125,814 | ) | |
| (127,600 | ) |
| Balance at end of period | |
$ | 199,204 | | |
$ | 265,832 | |
| |
(1) |
On January 24, 2024, the Company received a facility notice
from Shanghai Commercial Bank, granting a revolving loan facility totaling up to TWD 10,000,000
(approximately $300,000
USD) and term loan facility amounting of TWD 20,000,000
(approximately ($600,000
USD). The term for the revolving loan is 1
year and for the term loan is 5
years. The 5
year term loan requires monthly payments including interest
and principal, and the revolving loan requires a full principal repayment at the maturity date. The guarantors of this loan are Mr. Siu
and Mr. Cheung, who are both part of Iveda Taiwan’s management team. |
| |
|
|
| |
|
As
of June 30, 2026, and December 31, 2025, there was $63,001 and $63,694, respectively, of restricted cash pledged as security for the
Shanghai Commercial Bank long term loan. |
| |
|
|
| |
(2) |
The Company repaid the outstanding loan balance during the period ended June 30, 2026, and there are no further obligations
due to this bank. |
|