HINSDALE, Ill., Jan. 8, 2014 (GLOBE NEWSWIRE) -- ID Global Corp. (OTC:IDGC) is pleased to provide a corporate update to its shareholders.
The following is a summary of our recent developments:
- The company signed an exclusive USA distribution agreement with www.pepperes.com and IDGC receives 50% of the profits.
- The company also exercised its option on Jack Rockwell, Inc. IDGC will retain 5% ownership with a preliminary valuation coming in at $2.5 million US. Extensive due diligence on Jack Rockwell, Inc's two issued U.S. Patents has begun as well as negotiations regarding further research and development, various production designs and potential opportunities defining industry and market segments, manufacturing and distribution.
- The company has settled and written off more than US $200,000 in convertible indebtedness and continues to negotiate and is closing to finalizing more.
- In the second half of 2013 announced a profit participation agreement with Atlantic-Pacific, LLC, an Indiana company, in which the company receives 20% of the profits.
- The company, through consulting work, received both unrestricted and restricted stock in ticker symbols PHYH and PYHH, valued in excess of $50,000 to bolster the balance sheet and diversify holdings.
- The company intends to make a distribution of some of its interest in its portfolio companies as dividends to shareholders in 2014.
Sebastien DuFort, president and CEO said: "I would like to thank our investors and shareholders for their patience as we build a foundation that will help to ensure our long term and sustained success."
About ID Global Corporation
ID Global Corporation (IDGC) is a diversified holdings company with a focus on emerging and middle market investment opportunities in North America. IDGC seeks, through debt and equity investments, controlling interests in established companies as well as special situation start-ups.
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of ID Global Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
CONTACT: Sebastien DuFort, CEO ID Global Corporation Tel: 630.532.3625 Website: www.idglobal-corp.comSource:ID Global Corporation