IDGLOBAL Completes and Posts Full Year Audited 2006 Financials
KELOWNA, British Columbia--(BUSINESS WIRE)--IDGLOBAL (Pink Sheets:IDGJ - News) has completed its 2006 Audit and has posted the information on Pinksheets.com. Final 2006 financial statements took longer than expected to ensure that the prior year's dealing with the shell company involved in IDGLOBAL's reverse merger, revenue recognition, and other matters associated with compliance with the Sarbanes - Oxley Act and being a reporting issuer were completed with 100% efficiency and accounting systems in place so that future quarterly financial filings can be reported in a timely manner.
For the full year 2006, the IDGLOBAL reported revenue of $389,605.24 USD ($412,669 Cdn). Net loss for full year 2006 was $445,876.00 USD ($506,061 CDN) A year over year comparison is not possible as fiscal year 2006 marks IDGLOBAL's first full year of operations.
IDGLOBAL Management is extremely pleased with its revenue results for full year 2006 so early into the company's existence. In the first six months of 2006, IDGLOBAL was engaged in activities designed to build a strong, dynamic and efficient corporate, sales and management infrastructure. In Q3 and Q4, 2006, IDGLOBAL Management was able to begin executing its business plan and penetrate key markets and develop corporate relationships that form the initial and long-term success for rapid sales growth and revenue growth.
IDGLOBAL is nearing completion of its financials for Q1 and Q2 2007 and is preparing its application for up-listing to the OTC:BB.
Fiscal year 2007 has seen IDGLOBAL grow significantly in revenue and client acquisition. On August 10, 2007, IDGLOBAL announced that its roster of clients for its Nano-Molecular-Markers? have grown significantly in fiscal year 2007 and continues to engage in multiple pilot projects with future growth prospects irrespective of the short term economic conditions. Since the August 10 news release, IDGLOBAL's new client additions, client inquiries and requests for demonstrations and pilot project testing for its Nano-Molecular Anti-Counterfeiting Solutions continue to increase and grow in size and scope at a pace that is unprecedented in its operating history.
About IDGLOBAL Corp. (www.idglobalcorp.com)
IDGLOBAL provides a range of leading technologies specifically designed to provide private enterprise and governments 100% solutions to their Counterfeiting infections and Loss Prevention / Anti-Theft security programs. IDGLOBAL's Nano-Molecular Markers / Tags? are specifically designed for global anti-counterfeiting applications and its IDFORENSIX? products provide Loss Prevention / Anti-Theft solutions for the annual $800 billion Anti-Counterfeiting and Loss Prevention markets. IDGLOBAL is a forward looking company with a robust R&D program and product development and integration program for the purpose of providing next generation Nano based and leading edge Anti-Counterfeiting products and Security solutions.
Nano-Molecular, Nano-Molecular Markers, Nano-Molecular Tags and IDFORENSIX are registered trademarks of IDGlobal Corp, All Rights Reserved.
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of IDGLOBAL Corp. to be materially different from the statements made herein.
Contact:
Daryl Regier, CEO, President
Philip Viggiani, VP, Sales Marketing
Marc Hamilton, Chief Operating Officer
Investor Relations Toll Free: 1-866-922-4345
Phone: 250-862-8933
Fax: 250-862-8322
www.idglobalcorp.com