$.0001-$.0011 News, DDs & Charts Only!!!

[mick]

$IDGC #10 / ID Global Corporation and Subsidiary
Consolidated Financial Statements
As of December 31, 2017 and 2016.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141671729

ID Global Corporation and Subsidiary


ID Global Corporation and Subsidiary
• Notes to Financial Statements
December 31, 2017
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 three months and year ended September, 2017 and
2016, 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.
• MARKETABLE SECURITIES
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.
• INVESTMENT HOLDINGS
The Company owns 1,000,000 shares of common stock in PYHH which on July 11, 2017
underwent a name change to Osceola Gold and a ticker symbol change to OSCI. This
constitutes a Level I asset because there are quoted prices for the stock in an active market,
and is therefore valued at $0.10 per share, the market price on the balance sheet date.
The company on February 13, 2017 retained the services of William Schifino Sr. with the law
firm of Burr and Forman out of Tampa, FL to review and begin the litigation process with a
course of action regarding the deposit and sale of the PYHH Shares. These shares were
acquired as compensation from a consulting agreement with PYHH in 5/2013, the company and
Transfer Agent has blocked the legend removal from the certificate and neither has given a valid
legal argument for their actions.
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 III asset because there are no current
quoted prices for the identical common stock in an active market, and is therefore valued at $0
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 3 asset because it is a startup private company in which there is no reliable way
to determine the fair market value. The Company invested $25,000 during the three months
ended December 31, 2016 and no fair value adjustments have been made.
8