HINSDALE, Ill., Dec. 19, 2013 (GLOBE NEWSWIRE) -- ID Global Corp. (OTC:IDGC) is pleased to announce that it has successfully settled a portion of its aging debt with a noteholder. The settlement represents a reduction of $209,566.51, or over 30% of total convertible notes outstanding to date.
Sebastien DuFort, president and CEO stated, "As we continue to execute on our new strategy, it is important to re-negotiate this aging debt and start to focus on the year ahead. We have many plans for 2014 and want to have a strong balance sheet to accommodate those plans. We are working on the other debt and will provide updates accordingly."
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.
Forward-Looking Statements
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.