UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 10-Q/A #1

(Mark One)

     þ

Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2016 .


     o

Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from                   to                  .


Commission file number: 000-52936


INFRASTRUCTURE DEVELOPMENTS CORP.

 (Exact name of registrant as specified in its charter)


Nevada

(State or other jurisdiction of

incorporation or organization)

27-1034540

 (I.R.S. Employer

Identification No.)


299 S. Main Street, 13 th Floor, Salt Lake City, Utah  84111

 (Address of principal executive offices)    (Zip Code)


(801) 488-2006

 (Registrant ’ s telephone number, including area code)


n/a

(Former name, former address and former fiscal year, if changes since last report)


Indicate by check mark whether the registrant: (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes þ   No o .


Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ   No o


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company as defined by Rule 12b-2 of the Exchange Act:

Large accelerated filer o   Accelerated filer o   Non-accelerated filer o  Smaller reporting company þ


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes o   No þ         


Indicate the number of shares outstanding of each of the issuer ’ s classes of common stock, as of the latest practicable date. As of August 27, 2016, the number of shares outstanding of the issuer ’ s common stock, $0.001 par value, was 1,186,194,524.


EXPLANATORY NOTE: Amended to fix heading on page 7 (notes) to indicate correct Company name and period.




1



INFRASTRUCTURE DEVELOPMENTS CORP.

Condensed Notes to the Financial Statements (Unaudited)

June 30, 2016


NOTE 1 - ORGANIZATION AND HISTORY


Infrastructure Developments Corp. (the “ Company ” ), formerly 1 st  Home Buy and Sell Ltd., was incorporated under the laws of the state of Nevada on August 10, 2006.  The Company changed its name to “ Infrastructure Developments Corp. ” on March 1, 2010.

 

On April 14, 2010, the Company and Interspec International, Inc. ( “ Interspec ” , formerly Intelspec International, Inc.), a Nevada corporation, engaged in engineering, construction, and project management executed a stock exchange agreement, whereby the Company agreed to acquire 100% of the issued and outstanding shares of Interspec in exchange for 14,000,000 shares of the Company ’ s common stock. Because the owners of Interspec became the principal shareholders of the Company through the transaction, Interspec was considered the acquirer for accounting purposes and this transaction is accounted for as a reverse acquisition or recapitalization of Interspec. Interspec was dissolved subsequent to the period ended June 30, 2014.


Effective June 25, 2014, the Company acquired the assets, business, and operations of Orbis Real Estate ("Orbis"), a real estate brokerage firm based in Dubai, United Arab Emirates. The transaction involved issuance of the Company's common shares in return for full control of Orbis ’ business. The owners of Orbis became affiliate shareholders of the Company. Accordingly Orbis is accounted for as the predecessor to the Company and the historical financial statements are presented as those of the Company through June 25, 2015 after which the financial statements are consolidated with those of Infrastructure Developments Corp.


On July 1, 2015 the Company agreed to divest Orbis back to its original owners.  Consideration to the Company included the return of the 160,000,000 shares issued to the owners of Orbis, and the assumption of all Orbis liabilities as of June 30, 2015.  The Company has returned the 160,000,000 shares back to its treasury, and no longer consolidates the Orbis financial statements.


In the three month period ending June 30, 2016 the Company sold its owned inventory of one Wing House, repaid a note payable of $65,379, converted a total of $189,403 in notes payable to common stock at par value $0.001 per share, and added an additional member to its board of directors.  In June 2016 the company also signed an agreement to acquire Bidlive Management FZE, a U.A.E. based entity that provides a software platform for webcasting live auctions to bidders.  The acquisition closed on August 23, 2016.


The Company is planning on developing the Bidlive business plan in several international markets.  Its ’ project management business still provides services through a network of consultants and subsidiaries located in markets where the Company either is investigating project opportunities or opportunities to market its Wing House mobile shelters.  The Company is also marketing alternative energy products such as solar panel, battery back-up systems, and magnetic transducer generators.



7