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$IDGC #13 / ID Global Corporation and Subsidiary
Consolidated Financial Statements
As of December 31, 2017 and 2016.

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ID Global Corporation and Subsidiary

ID Global Corporation and Subsidiary
• Notes to Financial Statements
December 31, 2017
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 $170,750 as 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 September 1, 2014 and has
subsequently been paid off. For all three notes, the lenders have the option to convert all
principle and interest into the Company’s 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. Two out of the three notes are now
paid in full.
The Company holds 11 notes payable, each with an interest rate of 10% per annum. The notes
have due dates ranging from April 26 to November 4, 2013 and are now in default.
In 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. The note was due on June 5, 2014 and is in default,
but as a promissory note.
On March 27, 2014, the Company executed a $25,000 note payable along with an agreement
to pay the investor an additional $75,000 worth of the Company stock, which was exchanged
for securities valued at $100,000 (Note4). The $25,000 note has an interest rate of 5% per
annum. The first monthly payment of $2,187.50 was due on May 27, 2014 and the final
payment is due on April 27, 2015. This whole transaction is currently being renegotiated in an
effort to pay down or write-off company debt. This note has been subsequently paid off.