IDGlobal Corp. Announces Subsidiary Noveda Technologies Has 405 Percent Increase in Year Over Year Billings and Submits OTCIQ Order Form

Rhea-AI Summary

IDGlobal Corp (OTC PINK:IDGC) reports a significant 405% increase in year-over-year billings for its subsidiary, Noveda Technologies. This growth is attributed to Noveda's patented monitoring solutions that enhance energy and water efficiency across various sectors. CFO Sebastien C. DuFort expressed enthusiasm over operational upgrades made in Q1 2021 and the company's transition to a Software as a Service (SaaS) model. Additionally, IDGC has submitted its OTC Markets Application.

Positive

• 405% year-over-year increase in billings for Noveda Technologies.
• Transitioning to a Software as a Service (SaaS) model enhances growth potential.
• Operational upgrades from Q1 2021 driving positive results.

Negative

• None.

WHEATON, IL / ACCESSWIRE / June 18, 2021 / IDGlobal Corp. (OTC PINK:IDGC) is pleased to announce its subsidiary Noveda Technologies has a 405% increase in year over year billings. Noveda's patented monitoring solution integrates consumption and generation data to provide actionable real-time intelligence for owners, operators, and users as well as utilities. Noveda's patented technology helps reduce energy and water usage, optimize performance of renewable energy systems, and reduce the carbon footprint for customers world-wide, across commercial/retail, industrial, government, education, and utility sectors.

The Company CFO, Sebastien C. DuFort stated "We are extremely excited about the turnaround and the upgrades we made to the operating system in Q1 2021, which are already starting to pay-off, along with our new-found focus to be a pure play Software as a Service (SaaS) provider. We are also happy to announce the submission of our OTC Markets Application as well (OTCIQ ORDER FORM)."

The company completed a strategic investment in Noveda Technologies in July 2019 and acquired a majority stake in Noveda Technologies as part of this strategic investment.

ABOUT NOVEDA
Noveda Technologies is an innovative leader in real-time, web-based energy and water monitoring. The company's patented software solutions help reduce energy and water usage, optimize performance of renewable energy systems, and reduce the carbon footprint for customers across commercial, retail, government, education, and utility sectors. Currently, headquartered in White Plains, New York.

IDGC's Plan of Operations.
IDGC is an emerging growth company under the JOBS Act of 2012 and, as a diversified holding company, will focus on emerging and middle-market international investment opportunities through its subsidiaries. IDGlobal Corp. is an organization engaged in the business of fostering early-stage companies through the different developmental phases until the companies have sufficient financial, human, and physical resources to function on their own.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Please read the full disclaimer at www.idglobalcorp.io.

CONTACT:
idglobalinfo@gmail.com
Sebastien C. DuFort
630-532-3625

SOURCE: ID Global Corporation

View source version on accesswire.com:
https://www.accesswire.com/652247/IDGlobal-Corp-Announces-Subsidiary-Noveda-Technologies-Has-405-Percent-Increase-in-Year-Over-Year-Billings-and-Submits-OTCIQ-Order-Form

FAQ

What is the recent financial performance of IDGlobal Corp's subsidiary Noveda Technologies?

Noveda Technologies reported a 405% increase in year-over-year billings.

What business model is IDGlobal Corp shifting towards?

IDGlobal Corp is transitioning to a Software as a Service (SaaS) model.

When did IDGlobal Corp submit its OTC Markets Application?

IDGlobal Corp submitted its OTC Markets Application recently, as mentioned in the June 18, 2021 press release.