IDGC ID Global Corp New (CE)

ID Global Corporation and Subsidiary Consolidated Financial Statements

Chicago, IL -- July 13, 2015 -- InvestorsHub NewsWire -- 

As of December 31, 2014

Contents Page

Officer Certification1

Consolidated Balance Sheets2

Consolidated Statements of Operations3

Consolidated Statement of Changes in Stockholders Equity/(Deficit)4

Consolidated Statements of Cash Flows5

Notes to Financial Statements6-11

ID Global Corporation and Subsidiary 230 W. Monroe, Ste.310 Chicago, IL 60606 

I hereby certify that the accompanying unaudited financial statements and related footnotes and supplementary information hereto are based on the best information currently available to the Company. To the best of my knowledge, this information presents fairly, in all material respects, the financial position and stockholders equity of ID Global Corporation and Subsidiary as of December 31, 2014 and 2013 and the results of its operations and cash flows for the year ended December31,2014 and 2013, in conformity with accounting principles generally accepted in the United States of America.

 /s/ Sebastien Dufort Sebastien Dufort, President

Consolidated Balance Sheets As of December 31, 2014 and2013

(Unaudited)

ASSETS

Current assets

12/31/201412/31/2013

Total current assets      1072   284,076

Less accumulated depreciation     (386)           - Net Fixed Assets 5,110 -

Other Assets

Total assets$    328,576     $605,980  

LIABILITIES & STOCKHOLDERS' DEFICIT

Current liabilities

Total current liabilities   3,196,223     1,965,097    

Stockholders' deficit Common stock

(par 0.0001) 7,500,000,000

authorized, and 4,076,915,257

issued and outstanding)88,11296,587

Preferred stock (par 0.0001) 100,000,000

Additional paid in capital9,728,0764,901,034

Consolidated Statements of Operations

For the Year Ended December 31,2014 and 2013 (Unaudited)

Revenue

Consulting income

YearYear

EndedEnded

12/31/201412/31/2013

$        0$   59,656

Operating expenses

Other income /(expenses)

ID Global Corporation and Subsidiary

Consolidated Statement of Changes in Stockholders 'Equity/(Deficit)

From December 31, 2012 to December 31, 2014 (Unaudited)

Shares/ $ amount

Preferred Stock

Shares/ $ amount

AdditionalAccumulated Stockholders

Paid-In Capital DeficitDeficit

Balance, December 31,2012411,555,097 $411,555--$ 3,325,366$(9,027,013) $( 5,290,092)

payments on convertible notes597,000,00059,700404,000463,700

Net Income ( Loss) for the year ended December 31, 20132,669,2752,669,275

Issuance of common stock for

Balance, December 31, 20144,076,915,257    $ 88,112      50,000,000     $ 500    $9,728,076

See accompanying notes to financial statements.

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$ (6,949,041) $ (2,867,647)

Consolidated Statements of Cash Flows

For the Year Ended December 31, 2014 and 2013(Unaudited)

Cash flows from operating activities

YearYear

EndedEnded 12/31/2014.    12/31/2013.   

Net income /(loss)$(591,303)$2,669,275

Adjustment to reconcile net income/(loss)to net cash used in operating activities

Net cash provided by financing activities        66,802161,364

Net cash increase (decrease)

for the period(17,000)18,072

Cash at the beginning of period18,072           0

Cash at the end of period$      1,072 $      18,072

See accompanying notes to financial statements 5

Notes to Financial Statements

December 31, 2014

1.       DESCRIPTION OFBUSINESS

The consolidated financial statements include the accounts of ID Global Corporation (the Company), which was incorporated in Nevada on March 1, 2006, and its wholly owned subsidiary Fluid Solutions Group, Inc.("Fluid"),which was in corporate in Nevada on July 26, 2013.

The Company seeks to invest in emerging and established private companies that would benefit from the advantages of a public company. The Company would act as a catalyst between these companies to raise and infuse capital when required and to offer its expertise in management, finance, social media, and eco-friendly products so that the current management of these companies can independently manage and operate their respective businesses.

2.       SUMMARY OF SIGNIFICANT ACCOUNTING

Cash and Cash equivalents

For the purpose of the statements of cash flows, all highly liquid investments with an original maturity of three months or less are considered to be cash equivalents.

Use of estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include valuation of convertible notes payable and the valuation allowance of deferred tax assets.

Fair value of financial instruments and fair value measurements

The Company measures financial assets and liabilities in accordance with generally accepted accounting principles. For certain financial instruments the carrying amounts approximate fair value due to their short maturities.

THE FAIR MARKET OPTION FOR FINANCIAL ASSETS AND FINANCIAL LIABILITIES INCLUDING AN AMENDMENT OF FASB STATEMENT NO. 115 & 159.

Management has elected to state the unrealized value of Investments at the most conservative and Fair market valuation in keeping with FASB 115 and FASB 159 to evaluate each instrument individually at the current fair market value.

The Company adopted accounting guidance for financial assets and liabilities. The adoption did not have a material impact on the results of operations, financial position or liquidity. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices),the income approach (present value of future income or cash flow),and the cost approach (cost to replace the service capacity of an asset or replacement cost).The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:

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Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities inactive markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Level3: Unobservable in puts in which little market data exists, therefore developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use.

Revenue recognition

Revenue from sales of products and services is recognized when persuasive evidence of an arrangement exists, products have been shipped or services have been delivered to the customer, the price is fixed or determinable and collection is reasonably assured.

Stock-based compensation

Management has elected not to accept officers compensation until the companies business plan is fully executed and the company returns to profitability; furthermore in the current year 2014 the company has restated officers compensation previously accrued and prepaid as not accrued and not paid in keeping with GAAP Accounting rules. Management has not received compensation in 2014.

Fixed Assets

Fixed assets are recorded at cost, net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Repairs and maintenance are charged to expense as incurred. Expenditures for betterments and renewals are capitalized. The cost of fixed assets and the related accumulated depreciation are removed from the accounts upon retirement or disposal with any resulting gain or loss being recorded in operations.

Intangible Assets

Intangible assets with no determinable life are initially assessed for impairment upon purchase, with subsequent assessments required annually. When there is reason to suspect that their values have been diminished or impaired, a write-down is recognized as necessary. Intangible assets with rights that expire over time are amortized over the time period that the rights exist.

Income taxes

The Company accounts for income taxes pursuant to the provisions of ASC 740-10,Accounting for Income Taxes.Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change.

The Company adopted Accounting for Uncertainty in Income Taxes. These standards provide detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the financial statements. Tax positions must meet a more- likely-than-not recognition threshold. The Company had no unrecognized tax benefits. During the year ended December 31,2014 and 2013, no adjustments were recognized for uncertain tax benefits.

Net loss per share

The Company computes net earnings (loss) per share in accordance with ASC 260-10,Earnings per Share. ASC 260-10 requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period. Diluted EPS excludes all dilutive potential common shares if their effect is anti-dilutive.

3.  MARKETABLESECURITIES

Marketable Securities are adjusted to fair market value on the balance sheet date. The resulting difference between cost and market value is reflected as unrealized gain or (loss) on the Consolidated Statements of Operations.

4.  INVESTMENT HOLDINGS:

The Company owns 1,000,000 shares of common stock in PYHH. This constitutes a Level I asset because there are quoted prices for the stock in an active market, and is therefore valued at

$0.0355 per share, the market price on the balance sheet date.

The Company owns 198,385 shares of Series B Convertible Preferred Stock in PHYH. Each share can be converted into 40 shares of common stock ,a total of 7,935,400 common shares if they were all converted. This constitutes a Level I asset because there are quoted prices for the identical common stock in an active market, and is therefore valued at $0.0041 per common share equivalent, the market price of the common stock on the balance sheet date.

The Company owns 500,000 shares of common stock in Jack Rockwell, Inc. This constitutes a Level 3asset because it is a startup private company in which there is no reliable way to determine the fair market value. The Company invested $5,000 during the three months ended December 31, 2013 and no fair value adjustments have been made.

5.  GOING CONCERN

The accompanying financial statements have been prepared on a going concern basis, which implies the Company will continue to realize it assets and discharge its liabilities in the normal course of business. As of December 31, 2014, the Company had accumulated deficits of $6,949,041. The continuation of the Company as a going concern is dependent upon the continued financial support from its stockholders, the ability of the Company to obtain necessary debt or equity financing to continue operations, and the attainment of profitable operations. The financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

6.  INCOMETAXES

There was no income tax expense for the year ended December 31, 2014. or 2013 due to the Companys net losses.

7.  NOTES PAYABLE AND DERIVATIVE LIABILITY

There are currently three convertible note agreements. The $90,000 note was due on September 1,2009 and had a default interest rate of 36% per annum. On December 19,2013,there was a settlement agreement adjusting the past due interest on this note such that the principle plus accrued interest is $260,566. The Company recorded a gain on interest settlement of $170,750as a result of this settlement agreement. No further interest will accrue on this note. The$85,000 note was due on September 1, 2009 and has a default interest rate of 36% per annum. This note was renegotiated such that the default 36% interest rate stopped accruing on November 21,2012. No further interest will accrue and the due date was extended indefinitely. For the third note, the investor purchased $100,000 worth of interest from the $85,000 note and formed a new note with the same terms except that interest accrues at 10% per annum. This note is due on September1, 2014. For all three notes, the lenders have the option to convert all principle and interest into the Companys common stock at a conversion rate of $0.0001 per share. All three convertible notes were adjusted to fair market value on the balance sheet date based on the market price of the stock and conversion features. The change in value is reflected in the Consolidated Statements of Operations.

During the year ended December 31,2013, the Company executed and collected money on 13 notes payable, each with an interest rate of 10% per annum. The total amount collected from the noteswas$104,988.The total payments against the notes was $18,624.The notes have due dates ranging from April 26 to November 4, 2013 and are now in default.

During the three months ended December 31, 2013, the Company executed and collected $75,000 on an $82,500 note payable from an investor with an interest rate of 12% per annum. The Company recorded a $7,500 interest adjustment on the Consolidated Statement of Operations to reflect the difference in the stated principle amount and the amount collected.

8.  SIGNIFICANT EVENTS

Fluid Solutions Group, Inc., the Company's subsidiary signed a joint venture agreement on July 11, 2013 with Atlantic Pacific, LLC and Whydah Communications, Inc. whereby Fluid will participate in 20% of the profits of the venture. The joint venture will involve the sale of various reclaimed petroleum products. The company collected the first payment of $3,524 from this venture during the year ended December 31,2013. The company collected no payments. For the year ended December 31, 2014.

9.      STOCKHOLDERS EQUITY

The Company is authorized to issue 7,500,000,000 shares of common stock and 100,000,000 shares of preferred stock as of the balance sheet date 4,076,915,257

Common shares and 50,000,000 preferred shares are issued and outstanding as of the balance sheet date. The preferred shares that were issued during the years ended December 31,2014 and December 31, 2013 have been designated as Series A Convertible Preferred Stock. Each Series A share converts into 100 shares of common stock and has voting rights equal to 100 votes per share. They also have preferred liquidation rights equal to $0.001 per share before common shareholders. The Company also designated 10,000,000 preferred shares as Series B

Convertible Preferred Stock. Each Series B share can be converted into100shares of common stock, but has no voting rights. They also have preferred liquidation rights equal to $1.00 per share before common shareholders. No Series B shares have been issued as of the balance sheet date.