SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
              ____________________________________________________
                                   FORM 10-KSB
(Mark One)

[X]     ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
        ACT OF 1934 FOR THE FISCAL YEAR ENDED AUGUST 31, 2006

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______ TO ________

                         COMMISSION FILE NO.  001-15665

                              GLOBAL WATAIRE, INC.
               (Exact name of issuer as specified in its charter)

              NEVADA                                         36-4567500
  (State or other jurisdiction of                       (I.R.S.  Employer
   incorporation or organization)                       Identification No.)

   534 DELAWARE AVENUE, SUITE 412
        BUFFALO, NEW YORK                                      14202
(Address of principal executive offices)                     (Zip Code)

       Registrant's telephone number, including area code: (716) 332-7150

Securities registered under Section 12(b)
  of the Exchange Act:                       NONE.

Securities registered under Section 12(g)
  of the Exchange Act:                       COMMON STOCK, PAR VALUE $0.001
                                                        PER SHARE.
                                                     (Title of class)

     Indicate  by  check  mark  whether the registrant (1) has filed all reports
required  to  be  filed by Section 13 or 15(d) of the Securities Exchange Act of
1934  during  the  preceding  twelve  months  (or  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  [X]  No  [ ]

     Indicate  by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-B is not contained herein, and will not be contained, to the
best  of  registrant's  knowledge, in definitive proxy or information statements
incorporated  by  reference  in Part III of this Form 10-KSB or any amendment to
this  Form  10-KSB.  [ ]

     Indicate  by  check  mark  whether  the  registrant  is a shell company (as
defined  in  Rule  12b-2  of  the  Exchange  Act).  Yes  [ ]  No  [X]

     State issuer's revenues for its most recent fiscal year:  $ -0-.

     State the aggregate market value of the voting and non-voting common equity
held  by  non-affiliates  computed by reference to the price at which the common
equity  was last sold, or the average bid and asked price of such common equity,
as  of  October  31,  2006:  $58,008.

     Indicate  the  number  of  shares  outstanding  of each of the registrant's
classes of common stock as of October 31, 2006:  483,404 and -0-.

     Documents incorporated by reference:  None.

     Transitional Small Business Disclosure Format (Check One):  Yes [ ] No [X]


<PAGE>
<TABLE>
<CAPTION>
                                          TABLE OF CONTENTS
<S>                                                                                                <C>
Item 1.     Description of Business.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Item 2.     Description of Property.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Item 3.     Legal Proceedings.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Item 4.     Submission of Matters to a Vote of Security Holders.. . . . . . . . . . . . . . . . . .19
Item 5.     Market for Common Equity and Related Stockholder Matters. . . . . . . . . . . . . . . .19
Item 6.     Management's Discussion and Analysis or Plan of Operation.. . . . . . . . . . . . . . .21
Item 7.     Financial Statements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Item 8.     Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. .24
Item 8A.    Controls and Procedures.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24
Item 9.     Directors and Executive Officers of the Registrant. . . . . . . . . . . . . . . . . . .26
Item 10.    Executive Compensation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30
Item 11.    Security Ownership of Certain Beneficial Owners and Management
            and Related Stockholder Matters.. . . . . . . . . . . . . . . . . . . . . . . . . . . .32
Item 12.    Certain Relationships and Related Transactions. . . . . . . . . . . . . . . . . . . . .33
Item 13.    Exhibits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
Item 14.    Principal Accountant and Fees and Services. . . . . . . . . . . . . . . . . . . . . . .33
</TABLE>


<PAGE>
                                     PART I

ITEM  1.     DESCRIPTION  OF  BUSINESS.

COMPANY OVERVIEW

     We provide both advisory and transactional services to help business owners
develop and implement the business strategies necessary to achieve their
financial objectives. Our participation is relationship driven and seeks
exclusive engagements that will enable both the client and Global Wataire to
achieve superior results, positive cash flow and better than market returns from
their businesses. We bring together the expertise of an experienced team of
professionals dedicated to developing the right strategies for our clients to
get the funding they need to succeed. Our team of professional and associates
are committed to being strategic partners of our clients both now and in the
future as they grow and prosper.

     We will help our client companies and their owners identify and prioritize
those business strategies most critical to sustained success. Our goal is to
support the needs of emerging high potential growth private companies to help
them become successful, working together as a team. Our goal is not to deal with
a large volume of start up enterprises. We will focus only on what we feel are
viable, sustainable companies that have a high potential to succeed well into
the future and benefit by having an equity interest in that success. Towards
this goal, we provide our clients with access to centralized services, including
assistance in the areas of strategy, planning, finance, systems, accounting, and
human resources. This means we will selectively target only quality ventures
that we feel, with our assistance, can obtain the capital they need to succeed.

     We will seek out, investigate and, if warranted, acquire an interest in
business opportunities presented to us by companies that seek strategic
assistance and the advantages of a corporation that is a registered publicly
traded company with access to the public capital markets.

     We will not restrict our search to any specific business, industry or
geographical location and we may participate in a business venture of virtually
any kind or nature. We will seek business opportunities with entities which are
in the development stage, have recently commenced operations or with established
companies that wish to take advantage of the capital markets to raise additional
funding to expand into new products or markets or for other corporate
development purposes. We may establish subsidiaries to acquire businesses or
acquire existing companies as subsidiaries. In short, we plan to identify
emerging companies with exceptional promise and, with the our help, incubate
them into in successful stand alone enterprises

     As part of our investigation of potential business opportunities our
management will meet, interview and scrutinize the management and key personnel,
visit and inspect facilities; verify and analyze information obtained, seek the
advice of industry experts and use our financial resources and management
expertise to perform rigorous due diligence to critically evaluate the strengths
and weaknesses of the candidate business with the goal of eliminating candidates
that do not have the likelihood of success we seek. The manner in which we
participate in an opportunity will depend on the nature of the opportunity, the
respective needs of the parties and what it will take to make the venture a
success.

     We intend to concentrate on candidate opportunities brought to us by our
officers, directors, by our shareholders their respective contact networks. In
analyzing prospective business opportunities, we will scrutinize all relevant
factors, such as the market, future prospects, the quality and depth of
management, technical resources; working capital and other financial needs;
history of operations, if any; nature of present and expected competition, etc.
We will not acquire or merge with any company for which audited financial
statements cannot be obtained within 71 days after closing of the proposed
transaction, as required by the Securities Exchange Act of 1934, as amended.

     We were formerly known as International Development Corp., a Nevada
corporation. Moreover, International Development Corp. was formerly known as
Ozolutions, Inc., a Delaware corporation. We changed our name from Ozolutions,
Inc. to International Development Corp. and our state of domicile on December 9,
2004. See "Description of Business - Change of Domicile." On April 14, 2006, we
changed our name to Global Wataire, Inc.


                                        1
<PAGE>
     Our previous business, conducted through our wholly owned subsidiary,
Freshwater Technologies, Inc., now known as DigiTar, Inc., had been that of
international marketing and distribution of water purification systems using
ultraviolet, ozone and water activator technology. The markets we primarily
targeted were located in the United States, Canada, Mexico, Costa Rica, Peru,
and Panama.

PREVIOUS BUSINESS

     Ozone Technology. On June 21, 2000, we purchased the exclusive marketing
rights to distribute the products of Hankin Ozone Systems, Ltd. in Canada, the
Caribbean, and Mexico from 1421209 Ontario Limited. The purchase price was
$1,017,217 and the issuance of 8,000,000 shares of our common stock. We had an
agreement to repurchase 6,000,000 of the 8,000,000 shares for $81,699, which we
decided to cancel in August 2004. In April 2002, the agreement with 1421209
Ontario Limited was cancelled and the obligation to pay $1,017,217 was likewise
cancelled. We wrote-off the net marketing rights of $762,743 and the outstanding
obligation of $1,017,217, and recorded an extraordinary gain from the
cancellation of the agreement of $237,257. We paid $50,000 directly to Hankin
for the same marketing rights which we recorded as an expense during the year
ended August 31, 2002. In September 2004, Hankin was placed into bankruptcy, and
the deposit of $22,292 for certain units was written off as of August 31, 2004.

     Water-Activated Technology. In August 2001, we acquired non-exclusive
distribution rights to an activated water system from ELCE International Inc.
for Mexico and the Caribbean markets including Panama, Costa Rica, Ecuador and
Peru. No fees were paid for these rights. In September 2003, we approved the
issuance of 250,000 shares of our common stock to the president of ELCE and the
cancellation of an option to purchase 500,000 shares of our common stock at
$0.50 per share in order to maintain the existing relationship in Canada. The
issuance of the common stock resulted in a charge against earnings of $15,000 in
2004.

     Ultraviolet Products. In order to provide viable technology and pricing
options to residential and commercial customers for drinking water solutions, we
entered into an agreement with R-Can Environmental in June 2005 with the
intention of distributing ultraviolet water treatment systems and water filters
in selected markets in Latin America and the United States. We terminated a
prior agreement with another supplier.

     On January 21, 2005, we formed a wholly owned subsidiary, Freshwater
Technologies, Inc., and transferred our water activation and
purification-related assets and business to it. On January 11, 2006, we executed
and closed an Asset Sale Agreement with Max Weissengruber, our then president
and chief operations officer and a director, and D. Brian Robertson, our then
chief financial officer, with respect to the purchase of certain assets of
Freshwater Technologies. Although the agreement was executed and closed on
January 11, 2006, it was effective as of October 1, 2005. Included in the assets
was the name "Freshwater Technologies." The purchase price for the assets was
$60,210.33 paid in the form of the forgiveness of debt for salary owed by
International Development Corp. and Freshwater Technologies, Inc. in the amount
of $32,482.51 to Mr. Weissengruber, and $27,727.82 to Mr. Robertson.

     As additional consideration, Messrs. Weissengruber and Robertson agreed to
the termination of their employment agreements with International Development
Corp and a general release of any and all claims they may have had against
either International Development Corp. or Freshwater Technologies, Inc.
Moreover, certain other liabilities of Freshwater Technologies, Inc. were either
assumed or forgiven by Messrs. Weissengruber and Robertson and Bob Glassen in
the amount of $10,918.54. The net effect of the transaction was that
International Development and Freshwater were relieved of liabilities, which
exceeded assets in the amount of $134,532.17, and that Freshwater Technologies,
Inc. is now debt free. We changed the name of Freshwater Technologies, Inc. to
Atlantic Seaboard Company, Inc. on May 31, 2006.

CHANGE IN CONTROL

     On September 23, 2004, Betty-Ann Harland for $25,000 acquired 15,000,000
shares of our common stock, which represented 30.51 percent of our issued and
outstanding common stock. In addition, Ms. Harland had proxies to vote 6,000,000
shares of our common stock, granted by 1421209 Ontario Limited. The proxies
expired on February 1, 2005. In January 2005, the 15,000,000 common shares held
by Ms. Harland were exchanged for 1,000,000 shares of our Series A preferred
stock. In July 2005, our board of directors approved the surrendering and


                                        2
<PAGE>
cancellation of 900,000 shares of the Series A preferred stock held by Ms.
Harland.  In July 2005, our board authorized the issuance of 1,000,000 shares of
Series B preferred stock to Ms. Harland in consideration of $1,000 and the
surrender of 900,000 shares of our Series A preferred stock.

     Each share of the Series A preferred stock is convertible into 200 fully
paid and nonassessable shares of our common stock, and has the voting power
equal to 200 shares of our common stock. The shares of the Series B preferred
stock is not convertible into shares of our common stock, preferred stock, or
any of our other securities. However, on all matters submitted to a vote of the
holders of our common stock, including, without limitation, the election of
directors, a holder of shares of the Series B preferred stock shall be entitled
to the number of votes on such matters equal to the number of shares of the
Series B preferred stock held by such holder multiplied by 500.

     Following the acquisition of our shares by Ms. Harland, on September 23,
2004, she was elected our chairman and chief executive officer. In addition, Max
Weissengruber, Douglas Robertson, Robert W. Gingell, and Arthur N. Kelly were
elected as our officers and directors. At the same time, D. Brian Robertson was
elected our chief financial officer. On March 30, 2004, Robert W. Gingell
resigned as a director and Richard Proulx was elected a director.

     On 24 May, 2006, Max Weissengruber resigned as secretary and as a director,
effective immediately. There was no disagreement between Mr. Weissengruber and
Global Wataire. Likewise, on 27 June 2006, our board of directors, pursuant to
our Bylaws Company, elected Robert Glassen to serve as a director and elected
Edmund Gorman to serve as a director and corporate secretary of Global Wataire.

     Because of the change in ownership of voting stock and the composition of
the board after the closing of the agreement with Ms. Harland, there was a
change in control.

CHANGE OF DOMICILE

     On December 9, 2004, a majority of our stockholders voted to approve a
change in our state of incorporation from Delaware to Nevada by means of a
merger permitted under the corporate statutes of both states.

     The merger was between Ozolutions, Inc., a Delaware corporation, and
International Development Corp., a Nevada corporation, organized by us for the
specific purpose of the change of domicile. The merger was consummated pursuant
to a Plan of Merger, which provided that Ozolutions, Inc. merge with and into
International Development Corp. Following the merger, International Development
Corp. was the surviving entity.

     International Development Corp. was a newly formed corporation with one
share of common stock issued and outstanding held by Ms. Harland, with only
minimal capital and no other assets or liabilities. The terms of the merger
provided that the existing stockholders of Ozolutions, Inc. would be entitled to
receive one share of the common stock of International Development Corp. for
every one share of the common stock of Ozolutions, Inc. held by the common
stockholders of Ozolutions, Inc. In addition, the then currently issued one
share of the common stock of International Development Corp. held by Ms. Harland
was cancelled. As a result, following the merger, the former stockholders of
Ozolutions, Inc. became the only stockholders of the newly merged corporation.

     The change of domicile did not interrupt the existence of Ozolutions, Inc.
Each share of our common stock remained issued and outstanding as one share of
the common stock of International Development Corp. after the change of domicile
from Delaware to Nevada.

     Officers and Directors. Before the change of domicile, our board of
directors consisted of five members, Betty-Ann Harland, Max Weissengruber,
Douglas Robertson, Robert W. Gingell, and Arthur N. Kelly. Upon the change of
domicile, our board of directors consisted of the same individuals who were also
the directors of International Development Corp. At a later date Robert W.
Gingell resigned and Richard Proulx was elected a director.

     Resales of Our Common Stock. Pursuant to Rule 145 under the Securities Act,
due to the merger of Ozolutions, Inc. with International Development Corp., the
exchange of our shares of common stock in the


                                        3
<PAGE>
Delaware corporation for shares of the common stock of the Nevada corporation
was exempt from registration under the Securities Act, since the sole purpose of
the transaction was a change of our domicile within the United States.  The
effect of the exemption is that the shares of our common stock issuable in the
change of domicile may be resold by the former stockholders without restriction
to the same extent that such shares may have been sold before the change of
domicile.

     Accounting for the Transaction. Upon consummation of the change of
domicile, the historical financial statements of the Delaware corporation became
the historical financial statements of the Nevada corporation. Total
stockholders' equity was unchanged as a result of the change of domicile.

CHANGING THE SCOPE OF OUR BUSINESS

     Historically, our business was limited to the development of water
activation and purification businesses. With the recent change in control,
changes in our board of directors and management, we have decided to change our
business to the advisory and transactional services business to help high
potential emerging companies develop and implement the strategies they need to
obtain the capital required to be successful and to continue into the future as
equity partners and strategic advisors with those companies. We would expect to
derive revenue from consulting and transactional fees charged our clients and
outside investors. However, our principal source of revenue is expected from
returns on the equity we retain in our client companies once they obtain
adequate funding, either in the form of share appreciation or profit sharing
agreements or both, as the case may be.

     In keeping with our strategy of expanding our scope of business, on July
27, 2006, our subsidiary, Atlantic Seaboard, Inc., acquired the all the assets
of DigiTar, Inc a next generation technology cyber security and eMessage
processing, archiving and management service provider that delivers proprietary
solutions to the eMessaging and e-Communications industry. Consequently, going
forward, our main focus will be to concentrate on marketing their proprietary
technology, that integrates advanced high speed, fail safe ("highly redundant"),
parallel processing broad based cyber threat protection and eMessaging
management solutions, to commercial and enterprise clients at a low cost.

     DigiTar has transferred of all of the business, assets and property, except
Intellectual Property, it now uses to conduct under, its name, that certain
cyber security and electronic message management service enterprise (the
"Business") to Atlantic and to exclusively license all the Intellectual Property
owned by DigiTar and used in the Business, (the "IP") to Atlantic. In addition,
to ensure that the Business will have the necessary management, technical and
human resources needed to prosper as an enterprise within Atlantic, each
individual principal of DigiTar has agreed to enter into an employment agreement
with Atlantic.

     In exchange for the transfer of the Business, licensing the IP and the
entering into of employment agreements by each DigiTar principal, Atlantic
issued 49 percent of its outstanding common stock to DigiTar and 10 million
shares of its Class A convertible preferred stock. Each share of Class A
preferred stock is entitled to two votes in any matter that requires the
shareholder vote of the Atlantic common shareholders. In addition, the Class A
preferred stock is entitled to be converted into 21 percent of the common stock
ownership of Atlantic at any time up to the time Atlantic makes a filing with
the U.S. Securities and Exchange Commission to file an SB-2 or equivalent filing
to offer its shares to the public. As a result of the exchange, Atlantic changed
its corporate name to DigiTar Inc.

     It was agreed by the parties to the Exchange that the immediate goal of the
Exchange was to allow Atlantic and Global Wataire to raise capital to facilitate
the growth and success of the business and, thereby, reward DigiTar as a
co-shareholder in Atlantic.  It was also agreed that the longer-term goal of the
Exchange was to allow Atlantic to achieve a successful initial public offering
in the U. S. securities market with the same effect.

     As additional consideration for the transfer of the business to Atlantic,
we granted to DigiTar 20 million shares of our common stock which will be held
in escrow for the benefit of DigiTar for a period of one year from the date of
the agreement at which time the shares would pass free of escrow to DigiTar.
However, if, before the end of that one year period, Atlantic completes an
effective filing of an SB-2, or the equivalent with the U.S. Securities and


                                        4
<PAGE>
Exchange Commission, our shares held in escrow for the benefit of DigiTar will
revert to us with no further consideration by any party.

ABOUT DIGITAR

OVERVIEW

     DigiTar, since 2005, has been providing outsourced comprehensive cyber
security and eMessage management solution based on its proprietary technology at
very low cost to its client base of small/medium size businesses ISP's, IT
subcontractors, and corporate enterprise networks, which includes small and
medium-sized enterprises, legal, medical and professional businesses
(collectively called "SMB's"). DigiTar's services replace the need for internal
network cyber security for all cyber threats, e.g., spam, viruses, hackers,
etc., and turn the client's cyber traffic into an accessible data base. Services
of equivalent quality and scope are not available in the retail market and
cannot be obtained cost effectively in the commercial cyber security service
market.

BUSINESS CONCEPT

     The business paradigm driving DigiTar is that cyber security and message
management is not unlike the medical, legal or other knowledge based business
services; i.e., they are inherently not do-it-yourself in-house activities.

     There was a time, not long ago, when cutting-edge enterprise security meant
a firewall on your network perimeter and anti-virus software on the desktops.
This is no longer the case. With the advent of polymorphic Internet worms,
application-layer cyber attacks, Trojan horses, intrusion-identity theft,
adware, spyware, and wireless hacks, the network security picture has become
incredibly complex. Consequently, the cost of cyber security and eMessage
management has cone up exponentially; well beyond the resources of small and
medium sized organizations. Even the most well funded and computer literate
firms will have to outsource their cyber security to service providers just as
they do other professional services.

     In response to this market shift from self supported hardware and software
based security solutions to Security as a Service ("SaaS") providers, DigiTar
has developed and offers to SMB's what we believe is the most comprehensive
security and message management services available to today at unmatched low
cost. As cyber security threats and e-traffic management become increasingly
complex, DigiTar offers users cost effective one-stop shopping for continuous
(24x7) advanced surveillance protection and e-traffic management. To expand its
menu of services, DigiTar is leveraging its' unique proprietary cyber security
technologies into untapped parallel markets including, message journaling and
archiving, mobile communications/handhelds and voice over Internet protocol
(VoIP).

OVERVIEW AND MARKET OPPORTUNITY

     The SMB IT Market according to the Gartner Group is currently over $21
billion and growing at more than a 30 percent compounded annual rate. This
situation has created some interesting dynamics:

-    Today Email  accounts  for  over 70 percent of all business communications;

-    SPAM accounts for over 60 percent of all e-mail and chokes SMB networks and
     wastes  huge  amounts  of  user/employee  time;

-    The increased  sophistication  of  illegal  intrusions,  with the advent of
     polymorphic  Internet  worms,  application-layer,  cyber  attacks,  Trojan
     horses, Intrusion-Identity Theft, Adware, Spyware, wireless hackers, denial
     of  service  by  message  overloading  attack  schemes,  etc.,  mandates
     continuously  increasing  security;  and

-    Ever increasing  government  regulatory  record  and reporting requirements
     (SOX, HIPAA, HCFA, EPA, OSHA, IRS, etc.) are fueling the rate of growth.


                                        5
<PAGE>
     Most individuals and SMB's cannot afford the needed level of security and
are largely unprotected from illegal intrusions, nor can they the adequately
respond to the burgeoning regulatory reporting requirements.

DIGITAR'S SOLUTION

     DigiTar offers what we consider the "next generation" of cyber security,
i.e., complete secure, offsite, highly accurate, crash proof ('highly
redundant') cyber messaging solutions, including advanced proprietary programs
and advanced proprietary security system design features that are transparent to
the user, i.e., the user has to do nothing but sign up for the service and it
starts working.

     DigiTar's cyber services, known as SENTENEL Messaging(TM) System ("SMS")
and SENTENEL Complete(TM) Enterprises Security ("CES"), are easy to utilize
within the users existing network without the need for additional staff or
capacity. The client does not have to add any hardware or software to its
existing system. Consequently, there are no conflicts with existing systems that
can decrease speed or cause "Lock-Up", which is commonplace with previous
generation e-security technology.

     DigiTar SENTENEL services:

-    Scans all incoming and outgoing mail for viruses and spam before it reaches
     the  client's  domain  or  network  and  captures  unwanted traffic with 99
     percent  +  accuracy.  If  a  client's  network comes under attack, DigiTar
     technology  blocks the attacking traffic, notifies the client, and performs
     automatic  disinfection  of  the  traffic.  All  outgoing mail is similarly
     scanned  and  scrubbed.

-    Develops a personalized e-mail profile content "filter" for each individual
     user  to  distinguish  wanted  from  unwanted  e-mail according to the user
     designed  and  then  automatically  updated  filter  using  it  proprietary
     servo-mechanism  like  technology.

-    Minimize  unauthorized  network  access, typically employee surfing, during
     business  hours. SENTENEL limits every user/employee to "approved web site"
     only  access  and maintains a time/date journal and copy of every eMessage.

     DigiTar's proprietary security technology, utilizing a unique cyber portal
design and eMessage profiling (called-eMessage DNA processing explained below)
and proprietary message management software, protects our clients from outside
and inside cyber threats and, at the same time, journals and archives all their
cyber traffic.

     Unique to DigiTar is a proprietary "Auto-Provisioning" technology whereby
customers are relieved of detailed bookkeeping and directory integration tasks
that competitive offerings require. DigiTar automatically keeps track of
"active" users in the client's domain and charges only for users that utilize
its services during the calendar month. This eliminates painstaking periodic
manual user "culling" by the client administrator (if there is one) to close
insecure links to internal client directories, i.e., close the door on intruders
from without and within. This also keep SaaS costs in line with actual client
usage rather having the client pay for unused/unneeded capability while
maintaining maximum client security and data integrity. Additional benefits of
"Auto-Provisioning" are the elimination of numerous client man-hours needed to
maintain network security and, at the same time, maintain leading-edge security
integrity levels. Thus, for a medium sized client, saving hundreds of expensive
IT administrative man hours per month.

     A key feature of DigiTar's SENTINEL technology is that it is built on
accelerated chip technology implementations and proprietary message processing
algorithms that simply stop spam and other cyber threats from entering the SMB
Networks. DigiTar's SENTINEL technology processes messages 400 to 700 times
faster than the competition. Speed translates to user volume without the need
for increased cost or computing capacity. This allows DigiTar to service more
clients on a DigiTar data center resource at an internal cost that is a small
fraction of conventional technology. This gives DigiTar the advantage of
providing its services at lower cost and still enjoy high margins.


                                        6
<PAGE>
     DigiTar's technology also incorporates "designed-in ability to scale"
feature. This feature allows our clients to increase or decrease the number of
users without the need to increase or decrease their internal computing
resources. The benefit of this design is that it allows our clients to redeploy
their valuable IT resources wasted in tracking cyber security and eMessage
management to producing in their core business activities.

     Another unique service DigiTar's technology affords is that it correlates
and stores all the messages it processes. As a consequence, it can retrieve
needed eTraffic information, no matter when it was sent, who sent it to or who
received it, instantaneously.

MARKETING STRATEGY

     DigiTar's principle target market is the SMB IT market. The total SMB IT
market by 2010, at its present rate of growth according to the Gartner Group,
will be over $70 billion. By that time the market niche for DigiTar is estimated
at $1 billion.

     To  capture  this  market  share,  DigiTar  is  making  a  two  pronged
     marketing  approach:

-    Build a  world wide marketing network of Value Added Resellers ("VARS") and
     Internet  Service  Providers ("ISP's") that currently serve millions of SMB
     clients/users.  This  allows  DigiTar  immediate access to the world market
     without  the  burden  of developing a direct distribution marketing arm. No
     cyber  security  service  provider  has the breadth of services at as low a
     cost  as  DigiTar. The VARS/ISP's can market DigiTar's security and message
     management  products  plus  a  mark  up  and still be priced well below the
     market.

-    Market directly to larger companies and institution by developing strategic
     alliances/partnerships with large IT companies already serving Fortune 50 -
     500  markets.

     For example, DigiTar has established a strategic relationship with Sun
Microsystems, an innovative IT Industry leader for more than 24 years, whereby
the two companies have agreed to an Advantage Partnership Agreement that
provides for joint marketing promotions, sales development and early joint
participation on advanced technologies that will synergistically enhance both
organization's product and service offerings.

     DigiTar  is  actively  targeting  the following Internet communications and
messaging  markets:

-    Electronic  mail  (eMail).  This  has  become  the  backbone  of  business
     communications  throughout  the  world  today  and  requires  non-stop 24x7
     on-line  security  technology  surveillance  to  assure  integrity  and
     confidentiality  of  electronic  business  transactions.  DigiTar's  SaaS
     SENTINEL  technology  delivers  that  at  a  99.9  percent  eMail  threat
     classification  and  quarantine  accuracy.

-    Instant  messaging (IM). A next generation web based communications process
     that  lacks  adequate  security  solutions  to assure protection from cyber
     threats.  DigiTar's SaaS message alignment capability provides security and
     allows  of  open  communications  between  systems  using  different  and
     incompatible  standards,  i.e.  services  like  AIM,  MSN  and  Yahoo!

-    Voice-over-Internet  Protocol  (VoIP).  VoIP  is  just  another message for
     DigiTar's SaaS technology. It protects clients from voice spam, and, at the
     same  time  satisfies  the VoIP companies regulatory reporting requirements
     imposed  on  the  electronic  messaging  industry.

-    Regulatory  compliance (SOX, HIPAA, etc.). DigiTar's SaaS on-demand Message
     processing,  indexing,  archiving  and  retrieval  services  satisfying the
     regulatory  requirements  imposed  on  our  SMB  and  larger organization's
     message  traffic  without  the  need  for additional hardware or personnel.


                                        7
<PAGE>
HOW DIGITAR'S TECHNOLOGY WORKS

     DigiTar has developed a "Complete Content Inspection" scanning process that
utilizes proprietary cyber message DNA profiling technology. Just as there is a
unique DNA strand sequence for each human cell, so is there a unique strand of
characteristics in each electronic communication. DigiTar's unique proprietary
technology first recognizes the character sequence in each message and then by
that sequence classifies each message and any attachment as either benign email
or an intruder, i.e., spam, virus, worm, phishing, identity theft, mole, etc,
without ever reading or even being able to read the content of the message. This
message DNA profiling delivers eMessage security threat classification
accuracies at greater than 99 percent + levels.

     DigiTar's technology uses a highly redundant multiphase security message
processing and content cleansing network traffic architecture. Use of real-time
proprietary anti-spam and anti-virus engines coupled with 24x7 security updates
as to the latest anti-virus threat signatures captured by global cyber security
monitoring and cyber terrorism prevention organizations. DigiTar blocks
objectionable and/or unwanted messaging, removes cyber threats (viruses, spy
ware, phishing, and intrusion attack software - sites - and documents) and
secures and realigns all client message traffic. All threats and attacks are
culled from the message stream and trashed before they are able to enter a
client's internal network. Questionable materials (spam) are quarantined in a
protected personal-unique web site for review and disposition by each client's
employees or user. Each user is always in control of his email and may "release"
quarantined mail if so desired by the user. Once released, that particular email
is cleared for future passage to the user. SENTINEL will automatically "learn"
from these user actions and re-align the unique user's preferences according to
such actions. DigiTar automatically empties the quarantine list after periodic
reviews by the user; no further action by the use is required to eliminate the
spam from quarantine.

OUR STRATEGY GOING FORWARD

     DigiTar's future product and services development plans focus on:

-    Enhancement  of  SentinelMessaging(TM)  features  to  include:  Blocking by
     Denial-of-Service  (DDoS) cyber attacks, i.e., domain name traffic overload
     attacks;

-    Blocking  User  Identity  Theft  Intrusion  Attacks;

-    Enhancement  of  SentinelComplete(TM)  Professional  Edition  -  Secure Web
     Content  access  control and filtering - Improves employee productivity and
     eliminates  liability  risks  associated  with  employee  exposure  to
     questionable/distasteful  Web  content  sites;

-    Enhancement  of  SentinelComplete(TM) Enterprise Edition/VoIP - Secure VoIP
     (Voice over Internet Protocol) communications for corporate and residential
     markets;

-    Market  expansion  of  SentinelMessaging(TM)  Fee  Based  Advertising  and
     "Pay-per-Use"  Customer  messaging  services;

-    Instant  Messaging  Systems  cyber  security;

-    Market  expansion  of SentinelMessaging(TM) to 3G wireless phone eMessaging
     security  market;

-    Enhancement  of  SentinelComplete(TM)  Enterprise Edition Instant Messaging
     Systems  cyber  security;  and

-    Expansion  of  security  operations centers to support expanding geographic
     customer  base  and  associated  advertising  revenues.


                                        8
<PAGE>
CONTINUE TO REDUCE PROCESSING COST

     We are focused on continuing to reduce the cost of our processing
technologies. Our goal is to further reduce the cost of SENTINEL message
processing operations to the point that we can sell the Sentinel Messaging
Services profitably for less than 50 percent of our competitors. We believe we
can achieve this cost reduction by:

-    Expanding  the  processing  capacity  of our Data Centers and improving the
     systems  design  of  the  computational  subsystems  used in our processing
     centers;

-    By continuing  to refine the development and performance of our proprietary
     technology  in  association  with  SUN Microsystems and our other strategic
     partners;

-    Improving  the  efficiencies  of  our  existing  proprietary processes with
     additional  refinement;  and,

-    Expanding  our  proprietary  algorithms  and  architecture  enabling  us to
     increase  our  superior high performance through-put and connectivity, even
     in  the  event  one  or  more of regional data centers suffers an outage or
     interruption.

     We believe that continued progress in all of these areas will enable Global
Wataire to be a leader in the next generation cyber security products and
messaging markets.

     We intend to continue to enhance the functionality of our individual SaaS
services and, at the same time, continue to further broaden and integrate our
systems as a whole. We intend to offer an even more comprehensive suite of
messaging and content management products and services to help meet our
customers' needs, including enhanced compliance data capture and archival
systems, expanded secure internet voice communications, business continuation
and disaster recovery, professional services and support that complement our
products, we believe we are well-positioned to continue to develop and implement
technological advances that improve the overall reliability of customers'
messaging management and protection systems incorporating services and products.

     We are currently focused on improving the indexing and archiving efficiency
of SENTINEL security designs and increasing the processing power and sensitivity
of our data processing facilities. We intend to continue to develop new products
that deliver increasing levels of performance in meeting key customer needs. We
believe our continued participation in cyber security standard-setting bodies
and activities will continue to be important as the industry develops, and we
are participating in select areas that we believe will be relevant in our target
markets and where we can contribute to and shape advances in cyber security and
messaging technologies. Our research and development targets technology
breakthroughs that are important to evolving applications in the commercial,
governmental and military arenas, and we believe these research and development
efforts will also have far-reaching relevance in all cyber communication
markets.

EXPAND OUR ADDRESSABLE MARKET

     Our market is the Internet. Consequently, we have no geographic or industry
boundaries. Currently, DigiTar supports professional and corporate clients in
the United States, France, Canada, Brazil, and India and has successfully
established services contracts with a diverse client base including: banking
corporations, law firms, Internet services providers, municipal rapid transit
authorities, financial lender companies, commercial trucking firms, and a myriad
of specialty customers.

     A key element of our strategy going forward is to acquire compatible
technologies to enhance our menu of services. We will seek out technologies that
we can blend into our product line with a view to expanding our menu of services
and products. We will look to license these technologies or, if the target
technology happens to be held by a talented company with a compatible culture,
we will seek to acquire that company and fold it into DigiTar.

     In addition to the SMB markets we intend to expand our focus to address new
applications and markets with potentially large opportunities for DigiTar's
technology. We believe that the current needs in national security and defense
present such opportunities. We believe our technical expertise, knowledge of
applications and


                                        9
<PAGE>
comprehensive focus on all aspects of cyber security and cyber traffic
management technology positions Global Wataire to benefit from the expansion of:

-    U.S. Department  of  Homeland  Security  -  Disaster  Recovery markets; and

-    Integrated  Municipal  Secure  Emergency  Communications  markets;

     We  anticipate  that  these  new  applications  and  markets  may  include:

-    Enhancement  of  CES/VoIP  -  Secure  VoIP  (Voice over Internet Protocol);

-    Enhancement  of SMS feature sets, including: Expansion of 3G wireless phone
     eMessaging  markets;

-    Instant  Messaging  Systems  cyber  security;  and

-    Expansion  of  Security  Operations Centers to support expanding geographic
     customer  base.

     We realize that cyber security cannot be static. To be effective it must be
dynamic and proactive. As the cyber communications market evolves with ever
increasing usage and complexity, cyber security eTraffic will be a critical
component of every business function. We are dedicated to organizing our
client's eTraffic, whether it is eMessage, Instant Messaging, Voice over
Internet Protocol or future cyber messaging technology into a secure body of
usable information and provide its clients with seamless access to that valuable
body of information instantly.


                            INTENTIONALLY LEFT BLANK.


                                       10
<PAGE>
<TABLE>
<CAPTION>
COMPETITOR TECHNOLOGY ANALYSIS

                            DigiTar                McAfee              SpamCop            Symantec            Postini
                                                  Mirapoint                               Ironport
                                                  Baracuda                              MessageLabs
--------------------------------------------------------------------------------------------------------------------------
<S>                  <C>                     <C>                  <C>                <C>                 <C>
     Spam Engine            SENTINEL            Spam Assassin      Realtime Black      Brightmail(R)        Proprietary
                            iSTAT(C)                                    List
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
     Technology               DNA                   Rules            Black List           Bayesian          Proprietary
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
    Dynamic Spam              YES                    NO                  NO                  NO                 NO
Trend Alignment(TM)
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
  User Preferences   By Individual Profile    Global Rule Based   Global Rule Based  Global Rule Based   Global Rule Based
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
        User                  YES                    NO                  NO           MessageLabs-Yes           Yes
    Self Service         Complete User        Requires Admin @     Requires Admin
                            Control             Server Level       @ Server Level
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
  Automatic System            YES                    NO                  NO                  ?                   ?
     Learning         SENTINEL Auto Learns
                              from
                      User Preferences and
                            Actions
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
     Personal                 YES                    NO                   ?                 Yes                 Yes
    White List          Tailored to User     User Must Mark Each
                          Preferences            Message for
                                             White/Black Listing
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
     Automatic                YES                    NO                  NO                 Yes                 Yes
    Quarantine                                  Sys Re-labels
                                              Message "Subject
                                                 Line" Only
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
  Secure Personal             YES               NO Quarantine             ?             MessageLabs-            Yes
    Quarantine                                                                              Yes
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
   Spam Isolated              YES                    NO                  NO          Symantec/Ironport          Yes
                     Outside of the User's     Spam is handled                               NO
                            Network                 after                             MessageLabs-Yes
                                             penetrating User's
                                                   Network
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
 Complete Content             YES                    NO                  NO                  NO                 NO
    Anti-Virus         Nested Attachments       Simple Virus                            Simple Virus       Simple Virus
    Protection           Included @ No          Protection @                            Protection @       Protection @
                        Additional Cost        Additional Cost                        Additional Cost     Additional Cost
-------------------  ----------------------  -------------------  -----------------  ------------------  -----------------
  Spam Catch Rate         99 percent +       Typ 85 percent -90    Typ 65 percent      Typ 87 percent     Typ 85 percent
     Accuracy                                      percent               80                  95                 95
                                               Plateaus @ ~95          Percent            Percent             Percent
                                                   percent
                                               with Full Time
                                                   Network
                                               Spam Personnel
--------------------------------------------------------------------------------------------------------------------------
</TABLE>

RULE 144

     In general, Rule 144 promulgated by the United States Securities and
Exchange Commission pursuant to the Securities Act, governs the sale of shares
which have not been registered under the Securities Act. The shares of the
common stock offered hereby have not been registered under the Securities Act
and are, therefore, within the United States are subject to the restrictions on
resale contained in Rule 144.


                                       11
<PAGE>
     We will publish information necessary as required by the Exchange Act to
permit transfer of our common stock in accordance with Rule 144 of the
Securities Act. However, the investor is cautioned that on the effective date of
this report, there is only limited trading in the shares of our common stock.

EMPLOYEES

     Currently, we have three employees. As we grow, we will need to attract an
unknown number of additional qualified employees. Although we have experienced
no work stoppages and believe our relationships with our employees are good, we
could be unsuccessful in attracting and retaining the persons needed. None of
our employees are currently represented by a labor union.

TRANSFER AGENT

     On November 7, 2006, our board of directors approved the appointment of
Transfer Online, Inc. as our transfer agent.

                                  RISK FACTORS

     This investment has a high degree of risk. Before you invest you should
carefully consider the risks and uncertainties described below and the other
information in this report. If any of the following risks actually occur, our
business, operating results and financial condition could be harmed and the
value of our stock could go down. This means you could lose all or a part of
your investment.

RISKS RELATING TO OUR BUSINESS

UNDER OUR BUSINESS PLAN, WE HAVE A LIMITED OPERATING HISTORY AND ARE NOT LIKELY
TO SUCCEED UNLESS WE CAN OVERCOME THE MANY OBSTACLES WE FACE.

     As of the date of this report, we had no business operations or revenues,
and we are still in our formative stage. You should be aware of the
difficulties, delays and expenses normally encountered by an enterprise many of
which are beyond our control, including unanticipated expenses, employment
costs, and administrative expenses. It is possible that our proposed business
plan as described in this report will not materialize or prove to be successful
or operate profitably. If we cannot operate profitably, you could lose your
entire investment.

UNLESS WE GENERATE ADDITIONAL CAPITAL THROUGH REVENUES OR FINANCINGS, WE RISK
FAILURE.

     We expect to incur significant capital expenses in pursuing our plans to
increase sales volume, expanding our products and services and obtaining
additional financing through stock offerings, or other feasible financing
alternatives. We may also seek funding for the development and marketing of our
products and services through strategic partnerships and other arrangements with
investment partners. It is possible that such collaborative arrangements or
additional funds will not be available when needed, or on terms acceptable to
us, if at all. In order to continue our operations, we will require additional
funds over the next 12 months. As of the date of this report, we estimate our
need for additional funds will be $5,000,000. We hope to be able to generate the
funds necessary to maintain our operations through revenues and borrowings.
However, without additional funds there will be a limitation to the number of
new projects that we could take on, which may have an effect on our ability to
maintain our operations. Additional financing may not be available on terms
favorable to us, or at all. If additional funds are not available, we may not be
able to execute our business plan or take advantage of business opportunities.
Our ability to obtain such additional financing and to achieve our operational
goals is uncertain. In the event that we do not obtain additional capital or are
not able to increase cash flow through the increase in revenues, our business
may fail.


                                       12
<PAGE>
OUR INDEPENDENT AUDITORS HAVE INCLUDED A GOING CONCERN OPINION AND RELATED
DISCUSSION IN THE NOTES TO OUR FINANCIAL STATEMENTS.

     It should be noted that our independent auditors have included a going
concern opinion and related discussion in the notes to our financial statements.
The auditors have included the going concern provision because we have incurred
significant and recurring losses and have a large working capital deficit that
the auditors believe raises substantial doubt about our ability to continue as a
going concern. We have incurred net losses of ($385,440), ($1,131,102) and
($198,378) for the fiscal years ended August 31, 2004, August 31, 2005, and
August 31, 2006, respectively. Our working capital deficit as of August 31, 2006
is ($600,416). Until such time we receive additional debt or equity financing,
there is a risk that our auditors will continue to include a going concern
provision in the notes to our financial statements. We may continue to incur
losses as we spend additional capital to develop and market our products and
services and establish our infrastructure and organization to support
anticipated operations. We cannot be certain whether we will ever earn a
significant amount of revenues or profit, or, if we do, that we will be able to
continue earning such revenues or profit. Any of these factors could cause our
stock price to decline and result in your losing a portion or all of your
investment.

NEED FOR ADDITIONAL SPECIALIZED PERSONNEL.

     Although we are committed to the continued development and growth of our
business, the addition of specialized key personnel to assist Global Wataire in
the execution of our business model is necessary. It is possible that we will
not be able to locate and hire such specialized personnel on acceptable terms.
We will make every effort to recruit executives with proven experience and
expertise as needed to achieve our plan.

DEPENDENCE ON ABILITY TO MARKET PRODUCTS AND SERVICES.

     Due to our limited resources, the execution of our business model and sales
and marketing of our products and services has been limited to date. Our success
is dependent upon our ability to execute with such limited resources.

WE MAY NOT BE ABLE TO DEVELOP A MARKET FOR OUR PRODUCTS AND SERVICES, WHICH WILL
MOST  LIKELY  CAUSE  OUR  STOCK  PRICE  TO  DECLINE.

     The demand and price for our products and services will be based upon the
existence of markets for them. The extent to which we may gain a share of our
intended markets will depend, in part, upon the cost effectiveness and
performance of our products and services when compared to alternative products
and services, which may be conventional or heretofore unknown. If the products
and services of other companies provide more cost-effective alternatives or
otherwise outperform our products and services, the demand for our products and
services may be adversely affected. Our success will be dependent upon market
acceptance of our products and services. Failure of our products and services to
achieve and maintain meaningful levels of market acceptance would materially and
adversely affect our business, financial condition, results of operations and
market penetration. This would likely cause our stock price to decline.

WE  MAY  HAVE  DIFFICULTY  IN  ATTRACTING  AND  RETAINING MANAGEMENT AND OUTSIDE
INDEPENDENT  MEMBERS  TO  OUR  BOARD  OF DIRECTORS AS A RESULT OF THEIR CONCERNS
RELATING TO THEIR INCREASED PERSONAL EXPOSURE TO LAWSUITS AND STOCKHOLDER CLAIMS
BY  VIRTUE  OF  HOLDING  THESE  POSITIONS  IN  A  PUBLICLY  HELD  COMPANY.

     The directors and management of publicly traded corporations are
increasingly concerned with the extent of their personal exposure to lawsuits
and stockholder claims, as well as governmental and creditor claims which may be
made against them, particularly in view of recent changes in securities laws
imposing additional duties, obligations and liabilities on management and
directors. Due to these perceived risks, directors and management are also
becoming increasingly concerned with the availability of directors and officers
liability insurance to pay on a timely basis the costs incurred in defending
such claims. We currently do carry limited directors and officers liability
insurance. Directors and officers liability insurance has recently become much
more expensive and difficult to obtain. If we are unable to continue or provide
directors and officers liability insurance at affordable rates or at


                                       13
<PAGE>
all, it may become increasingly more difficult to attract and retain qualified
outside directors to serve on our board of directors.

     We may lose potential independent board members and management candidates
to other companies that have greater directors and officers liability insurance
to insure them from liability or to companies that have revenues or have
received greater funding to date which can offer greater compensation packages.
The fees of directors are also rising in response to their increased duties,
obligations and liabilities as well as increased exposure to such risks. As a
company with a limited operating history and limited resources, we will have a
more difficult time attracting and retaining management and outside independent
directors than a more established company due to these enhanced duties,
obligations and liabilities.

LEGISLATIVE  ACTIONS  AND  POTENTIAL NEW ACCOUNTING PRONOUNCEMENTS ARE LIKELY TO
IMPACT  OUR  FUTURE  FINANCIAL  POSITION  AND  RESULTS  OF  OPERATIONS.

     There have been regulatory changes, including the Sarbanes-Oxley Act of
2002, and there may potentially be new accounting pronouncements or additional
regulatory rulings, which will have an impact on our future financial position
and results of operations. The Sarbanes-Oxley Act of 2002 and other rule changes
as well as proposed legislative initiatives have increased our general and
administrative costs as we have incurred increased legal and accounting fees to
comply with such rule changes. Further, proposed initiatives are expected to
result in changes in certain accounting rules, including legislative and other
proposals to account for employee stock options as a compensation expense. These
and other potential changes could materially increase the expenses we report
under accounting principles generally accepted in the United States of America,
and adversely affect our operating results.

PROPRIETARY  RIGHTS.

     We intend to closely monitor competing product introductions for any
infringement of our proprietary rights. We believe that, as the demand for
products such as those developed by Global Wataire increase, infringement of
intellectual property rights may also increase. If certain industry competitors
infringe on our proprietary rights, they may have substantially greater
financial, technical, and legal resources than we, which could adversely affect
our ability to defend our rights. In addition, we could incur substantial costs
in defending our rights.

DEPENDENCE  ON  KEY  EMPLOYEES.

     Our business is dependent upon our senior executive officers, principally,
Sydney Harland, our president and chief executive officer, who is responsible
for our operations, including marketing and business development, and Edmund
Gorman, our chief financial officer, sectary and treasurer. Should Messrs.
Harland and/or Gorman leave our employ, our business may be adversely affected.
In the event of future growth in administration, marketing, manufacturing and
customer support functions, we may have to increase the depth and experience of
our management team by adding new members. Our success will depend to a large
degree upon the active participation of our key officers and employees. Loss of
services of any of the current officers and directors, especially Messrs.
Harland and Gorman, could have a significant adverse effect on our operations
and prospects. There can be no assurance that we will be able to employ
qualified persons on acceptable terms to replace officers who become
unavailable.

CERTAIN  NEVADA  CORPORATION  LAW PROVISIONS COULD PREVENT A POTENTIAL TAKEOVER,
WHICH  COULD  ADVERSELY  AFFECT  THE  MARKET  PRICE  OF  OUR  COMMON  STOCK.

     We are incorporated in the State of Nevada. Certain provisions of Nevada
corporate law could adversely affect the market price of our common stock.
Because Nevada corporate law, NRS Sections 78.378 to 78.3793, contain provisions
with respect to acquisition of a controlling interest in a corporation, it would
be more difficult for someone to acquire control of Global Wataire. Nevada
corporate law also discourages proxy contests making it more difficult for you
and other stockholders to elect directors other than the candidate or candidates
nominated by our board of directors.


                                       14
<PAGE>
TAXATION OF DIVIDENDS.

     In the absence of an applicable treaty between the United States and the
government of the country of which a stockholder is a citizen, if such
stockholder is not a United States citizen or a resident alien of the United
States, pursuant to United States income tax law, all dividends payable by
Global Wataire on our capital stock to any such stockholder are subject to a
withholding rate of 30 percent. As of the effective date of this report, there
is no way to determine which of our potential stockholders may be subject to the
30 percent withholding requirement.

FINANCIAL  PROJECTIONS;  DISTRIBUTIONS  OF  CASH.

     Any projections and related assumptions discussed in this report were based
on information about circumstances and conditions existing as of the date of
this report. The projections and estimated financial results are based on
estimates and assumptions that are inherently uncertain and, though considered
reasonable by us, are subject to significant business, economic, and competitive
uncertainties and contingencies, all of which are difficult to predict and many
of which are beyond our control. Accordingly, there can be no assurance that the
projected results will be realized or that actual results will not be
significantly lower than projected. We do not intend to update the projections.
The inherent uncertainties in results increase materially for years closer to
the end of the projected period. Neither we nor any other person or entity
assumes any responsibility for the accuracy or validity of the projections.

RISKS  RELATING  TO  OUR  STOCK

OUR  COMMON  STOCK IS THINLY TRADED, SO YOU MAY BE UNABLE TO SELL AT OR NEAR ASK
PRICES  OR  AT  ALL  IF YOU NEED TO SELL YOUR SHARES TO RAISE MONEY OR OTHERWISE
DESIRE  TO  LIQUIDATE  YOUR  SHARES.

     Our common stock has historically been sporadically or "thinly-traded" on
the Over the Counter Bulletin Board, meaning that the number of persons
interested in purchasing our common stock at or near ask prices at any given
time may be relatively small or non-existent. As of August 31, 2006, our average
trading volume per day for the past three months was approximately 875 shares a
day with a high of approximately 60,900 shares traded and a low of no shares
traded. This situation is attributable to a number of factors, including the
fact that we are a small company which is relatively unknown to stock analysts,
stock brokers, institutional investors and others in the investment community
that generate or influence sales volume, and that even if we came to the
attention of such persons, they tend to be risk-averse and would be reluctant to
follow an unproven company such as ours or purchase or recommend the purchase of
our shares until such time as we became more seasoned and viable.

     As a consequence, there may be periods of several days or more when trading
activity in our shares is minimal or non-existent, as compared to a mature
issuer which has a large and steady volume of trading activity that will
generally support continuous sales without an adverse effect on share price. It
is possible that a broader or more active public trading market for our common
stock will not develop or be sustained, or that current trading levels will
continue.

THE  MARKET PRICE FOR OUR COMMON STOCK IS PARTICULARLY VOLATILE GIVEN OUR STATUS
AS  A  RELATIVELY  UNKNOWN  COMPANY WITH A SMALL AND THINLY TRADED PUBLIC FLOAT,
LIMITED  OPERATING  HISTORY  AND  LACK  OF NET REVENUES WHICH COULD LEAD TO WIDE
FLUCTUATIONS  IN  OUR  SHARE  PRICE.  THE PRICE AT WHICH YOU PURCHASE OUR COMMON
STOCK  MAY  NOT  BE  INDICATIVE  OF  THE  PRICE THAT WILL PREVAIL IN THE TRADING
MARKET.

     The market for our common stock is characterized by significant price
volatility when compared to seasoned issuers, and we expect that our share price
will continue to be more volatile than a seasoned issuer for the indefinite
future. In fact, during the period from April 17, 2006 until August 31, 2006,
the high and low sale prices of a share of our common stock were $1.01 and
$0.30, respectively, after taking into account the one for 1,000 reverse split
of our common stock which occurred on April 17, 2006. The volatility in our
share price is attributable to a number of factors. First, as noted above, the
shares of our common stock are sporadically and/or thinly traded. As a
consequence of this lack of liquidity, the trading of relatively small
quantities of shares by our stockholders may disproportionately influence the
price of those shares in either direction. The price for our shares could, for
example, decline precipitously in the event that a large number of shares of our
common stock are sold on the


                                       15
<PAGE>
market without commensurate demand, as compared to a seasoned issuer which could
better absorb those sales without adverse impact on its share price.

     Secondly, we are a speculative or "risky" investment due to our limited
operating history and lack of profits to date, and uncertainty of future market
acceptance for our products and services. As a consequence of this enhanced
risk, more risk-adverse investors may, under the fear of losing all or most of
their investment in the event of negative news or lack of progress, be more
inclined to sell their shares on the market more quickly and at greater
discounts than would be the case with the stock of a seasoned issuer.

YOU  MAY  BE  UNABLE  TO SELL YOUR COMMON STOCK AT OR ABOVE YOUR PURCHASE PRICE,
WHICH  MAY  RESULT  IN  SUBSTANTIAL  LOSSES  TO  YOU.

     The following factors may add to the volatility in the price of our common
stock: actual or anticipated variations in our quarterly or annual operating
results; government regulations, announcements of significant acquisitions,
strategic partnerships or joint ventures; our capital commitments; and additions
or departures of our key personnel. Many of these factors are beyond our control
and may decrease the market price of our common stock, regardless of our
operating performance. We cannot make any predictions or projections as to what
the prevailing market price for our common stock will be at any time, including
as to whether our common stock will sustain its current market price, or as to
what effect that the sale of shares or the availability of common stock for sale
at any time will have on the prevailing market price.

VOLATILITY  IN  OUR  COMMON STOCK PRICE MAY SUBJECT GLOBAL WATAIRE TO SECURITIES
LITIGATION.

     The market for our common stock is characterized by significant price
volatility when compared to seasoned issuers, and we expect that our share price
will continue to be more volatile than a seasoned issuer for the indefinite
future. In the past, plaintiffs have often initiated securities class action
litigation against a company following periods of volatility in the market price
of its securities. We may in the future be the target of similar litigation.
Securities litigation could result in substantial costs and liabilities and
could divert management's attention and resources.

VOTING  CONTROL  OF  OUR  COMMON  STOCK  IS  POSSESSED  BY  BETTY-ANN  HARLAND.
ADDITIONALLY,  THIS  CONCENTRATION  OF  OWNERSHIP  COULD DISCOURAGE OR PREVENT A
POTENTIAL  TAKEOVER  OF  GLOBAL  WATAIRE  THAT  MIGHT  OTHERWISE  RESULT IN YOUR
RECEIVING  A  PREMIUM  OVER  THE  MARKET  PRICE  FOR  YOUR  COMMON  STOCK.

     The voting control of our common stock is in Betty-Ann Harland, our
chairman and wife of Sydney A. Harland, our president and chief executive
officer. Ms. Harland owns 65,000 shares of our Series A preferred stock and
1,000,000 shares of our Series B preferred stock. A holder of shares of our
Series A preferred stock is entitled to the number of votes equal to the number
of shares of the Series A preferred stock held by such holder multiplied by 200
on all matters submitted to a vote of our stockholders. A holder of shares of
the Series B preferred stock is entitled to the number of votes equal to the
number of shares of the Series B preferred stock held by such holder multiplied
by 500 on all matters submitted to a vote of our stockholders. Consequently, as
of the date of this report, Ms. Harland the right to vote 513,000,000 shares of
our common stock, a number in excess of our currently issued and outstanding
shares of common stock. The result of Ms. Harland's voting control is that she
has the ability to control all matters submitted to our stockholders for
approval and to control our management and affairs, including extraordinary
transactions such as mergers and other changes of corporate control, and going
private transactions. Additionally, this concentration of voting power could
discourage or prevent a potential takeover of Global Wataire that might
otherwise result in your receiving a premium over the market price for your
common stock.

WE  MAY  NEED  TO  RAISE ADDITIONAL CAPITAL. IF WE ARE UNABLE TO RAISE NECESSARY
ADDITIONAL CAPITAL, OUR BUSINESS MAY FAIL OR OUR OPERATING RESULTS AND OUR STOCK
PRICE  MAY  BE  MATERIALLY  ADVERSELY  AFFECTED.

     Because we are a newly operational company, we need to secure adequate
funding. If we are unable to obtain adequate funding, we may not be able to
successfully develop and market our products and services and our business will
most likely fail. We do not have commitments for additional financing. To secure
additional


                                       16
<PAGE>
financing, we may need to borrow money or sell more securities, which may reduce
the value of our outstanding securities.  We may be unable to secure additional
financing on favorable terms or at all.

     Selling additional stock, either privately or publicly, would dilute the
equity interests of our stockholders. If we borrow more money, we will have to
pay interest and may also have to agree to restrictions that limit our operating
flexibility. If we are unable to obtain adequate financing, we may have to
curtail business operations, which would have a material negative effect on
operating results and most likely result in a lower stock price.

OUR ISSUANCE OF ADDITIONAL COMMON STOCK IN EXCHANGE FOR SERVICES OR TO REPAY
DEBT, WOULD DILUTE YOUR PROPORTIONATE OWNERSHIP AND VOTING RIGHTS AND COULD HAVE
A NEGATIVE IMPACT ON THE MARKET PRICE OF OUR COMMON STOCK.

     Our board may generally issue shares of common stock to pay for debt or
services, without further approval by our stockholders based upon such factors
as our board of directors may deem relevant at that time. For the past three
years and for the twelve month period ended August 31, 2006, we issued no common
stock for debt. For the past four years ended August 31, 2006, we issued a total
of 16,325 shares in payment for services. It is likely that we will issue
additional securities to pay for services and reduce debt in the future. It is
possible that we will issue additional shares of common stock under
circumstances we may deem appropriate at the time.

THE ELIMINATION OF MONETARY LIABILITY AGAINST OUR DIRECTORS, OFFICERS AND
EMPLOYEES UNDER OUR ARTICLES OF INCORPORATION AND THE EXISTENCE OF
INDEMNIFICATION RIGHTS TO OUR DIRECTORS, OFFICERS AND EMPLOYEES MAY RESULT IN
SUBSTANTIAL EXPENDITURES BY GLOBAL WATAIRE AND MAY DISCOURAGE LAWSUITS AGAINST
OUR DIRECTORS, OFFICERS AND EMPLOYEES.

     Our articles of incorporation contain provisions, which eliminate the
liability of our directors for monetary damages to Global Wataire and our
stockholders. Our bylaws also require Global Wataire to indemnify our officers
and directors. We may also have contractual indemnification obligations under
our agreements with our directors, officers and employees. The foregoing
indemnification obligations could result in Global Wataire incurring substantial
expenditures to cover the cost of settlement or damage awards against directors,
officers and employees, which we may be unable to recoup. These provisions and
resultant costs may also discourage Global Wataire from bringing a lawsuit
against directors, officers and employees for breaches of their fiduciary
duties, and may similarly discourage the filing of derivative litigation by our
stockholders against our directors, officers and employees even though such
actions, if successful, might otherwise benefit Global Wataire and our
stockholders.

OUR DIRECTORS HAVE THE RIGHT TO AUTHORIZE THE ISSUANCE OF ADDITIONAL SHARES OF
OUR PREFERRED STOCK AND ADDITIONAL SHARES OF OUR COMMON STOCK.

     Our directors, within the limitations and restrictions contained in our
articles of incorporation and without further action by our stockholders, have
the authority to issue shares of preferred stock from time to time in one or
more series and to fix the number of shares and the relative rights, conversion
rights, voting rights, and terms of redemption, liquidation preferences and any
other preferences, special rights and qualifications of any such series. We have
no intention of issuing additional shares of preferred stock at the present
time. Any issuance of additional shares of preferred stock could adversely
affect the rights of holders of our common stock.

     Should we issue additional shares of our common stock at a later time, each
investor's ownership interest in our stock would be proportionally reduced. No
investor will have any preemptive right to acquire additional shares of our
common stock, or any of our other securities.

IF WE FAIL TO REMAIN CURRENT ON OUR REPORTING REQUIREMENTS, WE COULD BE REMOVED
FROM THE OTC BULLETIN BOARD, WHICH WOULD LIMIT THE ABILITY OF BROKER-DEALERS TO
SELL OUR SECURITIES AND THE ABILITY OF STOCKHOLDERS TO SELL THEIR SECURITIES IN
THE SECONDARY MARKET.

     Companies trading on the OTC Bulletin Board, such as Global Wataire, must
be reporting issuers under Section 12 of the Exchange Act, and must be current
in their reports under Section 13 of the Exchange Act, in order to maintain
price quotation privileges on the OTC Bulletin Board. If we fail to remain
current on our reporting


                                       17
<PAGE>
requirements, we could be removed from the OTC Bulletin Board.  As a result, the
market liquidity for our securities could be adversely affected by limiting the
ability of broker-dealers to sell our securities and the ability of stockholders
to sell their securities in the secondary market.

     We have filed Form 12b-25, Notification of Late Filing (which requests an
extension to file) two times with respect to our Form 10-KSB for the fiscal
years ended August 31, 2003 and August 31, 2004 and four times with respect to
our Form 10-QSB for the fiscal quarters ended May 31, 2003, November 30, 2003,
May 31, 2004, and February 28, 2005.

OUR COMMON STOCK IS SUBJECT TO THE "PENNY STOCK" RULES OF THE SEC AND THE
TRADING MARKET IN OUR SECURITIES IS LIMITED, WHICH MAKES TRANSACTIONS IN OUR
STOCK CUMBERSOME AND MAY REDUCE THE VALUE OF AN INVESTMENT IN OUR STOCK.

     The Securities and Exchange Commission has adopted Rule 15g-9 which
establishes the definition of a "penny stock," for the purposes relevant to
Global Wataire, as any equity security that has a market price of less than
$5.00 per share or with an exercise price of less than $5.00 per share, subject
to certain exceptions. Inasmuch as the current bid and ask price of our common
stock is less than $5.00 per share, our shares are classified as "penny stock"
under the rules of the SEC. For any transaction involving a penny stock, unless
exempt, the rules require:

-    That a  broker  or  dealer  approve  a person's account for transactions in
     penny  stocks;  and

-    The broker  or dealer receives from the investor a written agreement to the
     transaction,  setting forth the identity and quantity of the penny stock to
     be  purchased.

     In  order  to  approve  a  person's  account  for  transactions  in  penny
     stocks,  the  broker  or  dealer  must:

-    Obtain  financial  information  and investment experience objectives of the
     person;  and

-    Make a  reasonable  determination that the transactions in penny stocks are
     suitable  for  that  person  and  the  person  has sufficient knowledge and
     experience  in  financial  matters to be capable of evaluating the risks of
     transactions  in  penny  stocks.

     The broker or dealer must also deliver, prior to any transaction in a penny
stock, a disclosure schedule prescribed by the SEC relating to the penny stock
market, which, in highlight form:

-    Sets forth  the  basis  on  which the broker or dealer made the suitability
     determination;  and

-    That the  broker  or  dealer  received a signed, written agreement from the
     investor  prior  to  the  transaction.

     Generally, brokers may be less willing to execute transactions in
securities subject to the "penny stock" rules. This may make it more difficult
for investors to dispose of our common stock and cause a decline in the market
value of our stock.

     Disclosure also has to be made about the risks of investing in penny stocks
in both public offerings and in secondary trading and about the commissions
payable to both the broker-dealer and the registered representative, current
quotations for the securities and the rights and remedies available to an
investor in cases of fraud in penny stock transactions. Finally, monthly
statements have to be sent disclosing recent price information for the penny
stock held in the account and information on the limited market in penny stocks.

THE MARKET FOR PENNY STOCKS HAS SUFFERED IN RECENT YEARS FROM PATTERNS OF FRAUD
AND ABUSE.

     Stockholders should be aware that, according to SEC Release No. 34-29093,
the market for penny stocks has suffered in recent years from patterns of fraud
and abuse. Such patterns include:


                                       18
<PAGE>
-    Control  of the market for the security by one or a few broker-dealers that
     are  often  related  to  the  promoter  or  issuer;

-    Manipulation  of prices through prearranged matching of purchases and sales
     and  false  and  misleading  press  releases;

-    Boiler room practices involving high-pressure sales tactics and unrealistic
     price  projections  by  inexperienced  sales  persons;

-    Excessive  and  undisclosed  bid-ask  differential  and  markups by selling
     broker-dealers;  and

-    The wholesale  dumping  of  the  same  securities  by  promoters  and
     broker-dealers after prices have been manipulated to a desired level, along
     with  the  resulting  inevitable  collapse  of  those  prices  and  with
     consequential  investor  losses.

     Our management is aware of the abuses that have occurred historically in
the penny stock market. Although we do not expect to be in a position to dictate
the behavior of the market or of broker-dealers who participate in the market,
management will strive within the confines of practical limitations to prevent
the described patterns from being established with respect to our securities.
The occurrence of these patterns or practices could increase the volatility of
our share price.

ITEM  2.     DESCRIPTION OF PROPERTY.

     Our corporate office is located at 534 Delaware Avenue, Suite 412, Buffalo,
New York 14202, which we rent at the rate of $250.00 per month.  In addition, we
use approximately 400 square feet of office space at 5050 DeSorel, Suite 110
Montreal, Quebec, Canada H4P 1G5 and DigiTar, Inc. occupies approximately 2,500
square feet at 10306 West Emerald Street, Boise, Idaho 83704.  We believe that
all of our facilities are adequate for at least the next 12 months.  We expect
that we could locate other suitable facilities at comparable rates, should we
need more space.

ITEM  3.     LEGAL  PROCEEDINGS.

     We are not engaged in any other litigation, and we are unaware of any
claims or complaints that could result in future litigation. We will seek to
minimize disputes with our customers but recognize the inevitability of legal
action in today's business environment as an unfortunate price of conducting
business.

ITEM  4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     None.

                                     PART II

ITEM  5.     MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

     Since April 17, 2006, following the change in our corporate name from
International Development Corp. to Global Wataire, Inc., our common stock has
been quoted on the OTC Bulletin Board under the symbol "GWTE.OB." Beginning in
July 2001, until December 9, 2004, our symbol was "OZLU.OB." When we changed our
corporate name from Ozolutions, Inc. to International Development Corp. on
December 9, 2004, our symbol changed to "IDVL.OB." The following table sets
forth, for the fiscal quarters indicated, the high and low bid prices. These
quotations reflect the closing inter-dealer prices, without mark-up, mark-down
or commission, and may not represent actual transactions. In reviewing the
quotations, you should take into account that our common stock was the subject
of a one for 1,000 reverse split on April 14, 2006. See "Description of
Business." The effect of the reverse split was that our shares following the
reverse split on April 14, 2006 are quoted at a price, which should be higher
than that which obtained before the reverse split.


                                       19
<PAGE>
<TABLE>
<CAPTION>
                                                 HIGH      LOW
<S>                                             <C>      <C>
                    FISCAL 2004
                    QUARTER ENDED:
                    November 30, 2003           $  0.16  $  0.05
                    February 29, 2004           $  0.09  $  0.03
                    May 31, 2004                $ 0.065  $  0.02
                    August 31, 2004             $ 0.045  $  0.01

                    FISCAL 2005
                    QUARTER ENDED:
                    November 30, 2004           $  0.01  $  0.01
                    February 28, 2005           $0.0024  $0.0022
                    May 31, 2005                $0.0007  $0.0006
                    August 31, 2005             $0.0007  $0.0006

                    FISCAL 2006
                    QUARTER ENDED:
                    November 30, 2005           $0.0015  $0.0006
                    February 28, 2006           $0.0008  $0.0003
                    May 31, 2006                $  1.01  $  0.18
                    August 31, 2006             $  0.51  $  0.12
</TABLE>

     We currently have 483,404 shares of our common stock outstanding. Our
shares of common stock are held by approximately 1,672 stockholders of record.
The number of record holders was determined from the records of our transfer
agent and does not include beneficial owners of our common stock whose shares
are held in the names of various securities brokers, dealers, and registered
clearing agencies. There is no trading market for the shares of our preferred
stock.

     We have never declared or paid any cash dividends on our common stock. We
do not anticipate paying any cash dividends to stockholders in the foreseeable
future. In addition, any future determination to pay cash dividends will be at
the discretion of our board of directors and will be dependent upon our
financial condition, results of operations, capital requirements, and such other
factors as the board deem relevant.

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

<TABLE>
<CAPTION>
          PLAN CATEGORY          NUMBER OF SECURITIES TO BE       WEIGHTED-AVERAGE EXERCISE     NUMBER OF SECURITIES REMAINING
                                  ISSUED UPON EXERCISE OF       PRICE OF OUTSTANDING OPTIONS,    AVAILABLE FOR FUTURE ISSUANCE
                               OUTSTANDING OPTIONS, WARRANTS         WARRANTS AND RIGHTS           UNDER EQUITY COMPENSATION
                                         AND RIGHTS                                               PLANS (EXCLUDING SECURITIES
                                                                                                   REFLECTED IN COLUMN (A))
                                            (A)                              (B)                              (C)
<S>                            <C>                             <C>                              <C>
    EQUITY COMPENSATION PLANS                0                               $0                                0
  APPROVED BY SECURITY HOLDERS

  EQUITY COMPENSATION PLANS NOT              0                               $0                                0
  APPROVED BY SECURITY HOLDERS

            TOTAL
                                             0                                -                                0
</TABLE>

     On May 4, 2006, a Post-Effective Amendment No. 1 to the Registration
Statement No. 333-121296 on Form S-8 filed on December 15, 2004 by International
Development Corp. (now Global Wataire, Inc.) was filed to deregister 107,500
shares of the common stock of the registrant. Consequently, no further shares
are registered under the Registration Statement.


                                       20
<PAGE>
RECENT SALES OF UNREGISTERED SECURITIES

     None.

PURCHASES OF EQUITY SECURITIES BY THE REGISTRANT AND AFFILIATED PURCHASERS

     There were no purchases of our equity securities by Global Wataire or any
affiliated purchasers during any month within the fourth quarter of the fiscal
year covered by this Annual Report.

ITEM  6.     MANAGEMENT'S  DISCUSSION  AND  ANALYSIS  OR  PLAN  OF  OPERATION.

               SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

     In this report, we make a number of statements, referred to as
"forward-looking statements" which are intended to convey our expectations or
predictions regarding the occurrence of possible future events or the existence
of trends and factors that may impact our future plans and operating results. We
note, however, that these forward-looking statements are derived, in part, from
various assumptions and analyses we have made in the context of our current
business plan and information currently available to Global Wataire and in light
of our experience and perceptions of historical trends, current conditions and
expected future developments and other factors we believe to be appropriate in
the circumstances.

     You can generally identify forward-looking statements through words and
phrases such as "seek," "anticipate," "believe," "estimate," "expect," "intend,"
"plan," "budget," "project," "may be," "may continue,"


                                       21
<PAGE>
"may likely result," and similar expressions.  When reading any forward-looking
statement you should remain mindful that all forward-looking statements are
inherently uncertain as they are based on current expectations and assumptions
concerning future events or future performance of Global Wataire, and that
actual results or developments may vary substantially from those expected as
expressed in or implied by that statement for a number of reasons or factors,
including those relating to:

-    Whether  or  not markets for our products and services develop and, if they
     do  develop,  the  pace  at  which  they  develop;

-    Our ability  to attract and retain the qualified personnel to implement our
     growth  strategies;

-    Our ability to fund our short-term and long-term financing needs;

-    Competitive factors;

-    General economic conditions;

-    Changes in our business plan and corporate strategies; and

-    Other risks  and  uncertainties discussed in greater detail in the sections
     of  this report, including those captioned "Risk Factors" and "Management's
     Discussion  and  Analysis or Plan of Operations." Readers are cautioned not
     to place undue reliance on the forward-looking statements contained herein,
     which  speak  only  as  of  the  date  hereof.  We  believe the information
     contained in this Form 10-QSB to be accurate as of the date hereof. Changes
     may  occur  after  that date. We will not update that information except as
     required  by  law  in the normal course of our public disclosure practices.

-    Additionally, the following discussion regarding our consolidated financial
     condition  and results of operations should be read in conjunction with the
     consolidated  financial statements and related notes contained in Item 1 of
     Part  I  of  this  Form  10-QSB,  as  well  as  the  consolidated financial
     statements  in  Item  7  of  Part II of our Form 10-KSB for the fiscal year
     ended  August  31,  2005.

     Each forward-looking statement should be read in context with, and with an
understanding of, the various other disclosures concerning Global Wataire and
our business made elsewhere in this report as well as other pubic reports filed
with the United States Securities and Exchange Commission. You should not place
undue reliance on any forward-looking statement as a prediction of actual
results or developments. We are not obligated to update or revise any
forward-looking statement contained in this report to reflect new events or
circumstances unless and to the extent required by applicable law.

OVERVIEW

     Plan of Operations. Our proposed plan of operations for the next 12 months
is to further develop our plans to make acquisitions, achieve profitability and
improve the availability of working capital. We have identified the following
steps in order to accomplish the plan:

-    First,  we must increase revenues at our subsidiary DigiTar, Inc., while at
     the  same  time  maintain  or  improve  gross  margins.

-    Second, we must control and in some cases reduce general and administrative
     expenses  while  growing  our  business.

-    Third,  we  must  find  additional sources of working capital, through both
     debt  and equity transactions, to fund our day to day operations as well as
     acquisitions.

     Profitability. Profitability is directly dependent upon our ability to
manage our business consistent with our business strategy, which is described in
"Description of Business" in this report.


                                       22
<PAGE>
RESULTS OF OPERATIONS

     Since we have made a significant change in our business and management, the
results of our previous operations may not be material to our future operations.
However, the previous results of operations may be relevant to an investor's
decision to purchase shares of our common stock offered hereby. Any potential
investor should be aware that we have ceased all previous business and will
focus on development and planned sale and distribution of our subsidiary DigiTar
Inc.

COMPARISON  OF CONSOLIDATED RESULTS OF OPERATIONS FOR THE YEARS ENDED AUGUST 31,
2006 AND AUGUST 31, 2005

     Due to the Sale of  Freshwater Technologies, revenues for both of the years
ended August 31, 2006 and 2005, were $0.  Cost of goods sold was $0 and $586 for
the years ending August 31, 2006 and 2005, respectively.  Gross profit was $0
and ($586) for fiscal 2006 and 2005, respectively.

     The net loss for the year ended August 31, 2006 was $198,378 compared to a
net loss of $1,131,000 for the year ended August 31, 2005.  Expenses for the
year ended August 31, 2006 decreased $528,854 over the year ended August 31,
2005.  Decreases in consulting expenses of $111,007, general and administrative
costs of $1,186, marketing expenses of $125,000 and restructuring expenses of
$305,000 can be directly attributable to the costs involved in the decision to
market water purification and activation products through our wholly-owned
subsidiary, Freshwater Technologies, Inc.  Interest expense for the year ended
August 31, 2006 increased $13,000 over fiscal 2005 as a result of the increase
in the outstanding balances owing to directors and a stockholder.

     For the years ended August 31, 2006 loss from discontinued operations was
$0 as compared to $143,000 for the year ended August 31, 2005.  As mentioned
above, this was a direct result of the sale of Freshwater Technologies which was
a gain to the company of $194,742 for the year ended August 31, 2006. A gain on
the sale of the company's subsidiary stock investment in Atlantic of $65,618,
also contributed to reducing the net loss for the year ended August 31, 2006.

LIQUIDITY AND CAPITAL RESOURCES

COMPARISON FOR THE FISCAL YEARS ENDED AUGUST 31, 2006 AND AUGUST 31, 2005

     Our operations used approximately $328,000 in cash during the year ended
August 31, 2006. Cash required during the year ended August 31, 2006 came
principally from the proceeds from director and stockholder advances of
$328,000.

     In pursuing our marketing and sale of our products under our new business
plan, we estimate our operational expenses during the next 12 months will be
approximately $2,500,000.

     As discussed by our accountants in the audited financial statements
included in this report, our revenues are currently insufficient to cover our
costs and expenses and our lack of sources of revenue raise substantial doubts
about our
ability  to  continue  as  a  going  concern.


     Pursuant to this report, we are attempting to raise additional capital. In
addition, certain of our directors and stockholders may continue to provide
Global Wataire with the funds needed to continue our development and


                                       23
<PAGE>
operations.  To the extent our revenue shortfall exceeds our capital raising
efforts and the willingness and ability of our directors and stockholders to
continue providing Global Wataire the funds needed, we anticipate raising any
necessary capital from other outside investors coupled with bank or mezzanine
lenders.  As of the date of this report, we have not entered into any
negotiations with any third parties to provide such capital.

     We anticipate that our current financing strategy of private debt and
equity offerings will meet our anticipated objectives and business operations
for the next 12 months. Subject to our ability to obtain adequate financing at
the applicable time, we may enter into definitive agreements on one or more of
those opportunities.

REGULATION S OFFERING IN EUROPE

     On October 23, 2006, we began an offering of 10,000,000 shares of our
common stock to European investors, pursuant to Regulation S promulgated under
the Securities Act. Each share was offered at $0.50 per share. If the maximum
number of shares is sold under the offering, we will raise $5,000,000. As of the
date of this report no shares have been sold. The shares are to be sold in
offshore transactions to non-U.S. persons who are qualified investors and who
are deemed acceptable by Global Wataire. The entire amount of the purchase price
for the common stock must be paid upon the execution and delivery to us of a
subscription agreement as more fully described herein.

     The shares will be sold on a "best efforts" basis on the Berlin Stock
Exchange in Berlin, Germany through various authorized selling agents. All cash
payments for the shares will be immediately available for use by Global Wataire
without the use of any escrow agent. We may sell less than the minimum amount to
an investor.

     The subscription period began on October 23, 2006 and will terminate, if
not sooner terminated, at 5:00 p.m., Berlin, Germany time, on June 30, 2007,
unless extended, with or without notice, until 5:00 p.m., Berlin, Germany time,
on August 31, 2007. However, at any time before the maximum number of shares of
the common stock has been sold, we may terminate the offering.

APPLICATION OF CRITICAL ACCOUNTING POLICIES

     Our financial statements and accompanying notes are prepared in accordance
with generally accepted accounting principles in the United States. Preparing
financial statements requires management to make estimates and assumptions that
impact the reported amounts of assets, liabilities, revenue, and expenses. These
estimates and assumptions are affected by management's application of accounting
policies. Critical accounting policies include revenue recognition and
impairment of long-lived assets.

     We recognize revenue in accordance with Staff Accounting Bulletin No.101,
"Revenue Recognition in Financial Statements." Sales are recorded when products
are shipped to customers. Provisions for discounts and rebates to customers,
estimated returns and allowances and other adjustments are provided for in the
same period the related sales are recorded.

     We evaluate our long-lived assets for financial impairment on a regular
basis in accordance with Statement of Financial Accounting Standards No. 144,
"Accounting for the Impairment or Disposal of Long-Lived Assets" which evaluates
the recoverability of long-lived assets not held for sale by measuring the
carrying amount of the assets against the estimated discounted future cash flows
associated with them. At the time such evaluations indicate that the future
discounted cash flows of certain long-lived assets are not sufficient to recover
the carrying value of such assets, the assets are adjusted to their fair values.

STOCK-BASED COMPENSATION

     In December 2002, the FASB issued SFAS No. 148 - "Accounting for
Stock-Based Compensation - Transition and Disclosure." This statement amends
SFAS No. 123 - "Accounting for Stock-Based Compensation," providing alternative
methods of voluntarily transitioning to the fair market value based method of
accounting for stock based employee compensation. FAS 148 also requires
disclosure of the method used to account for stock-based employee compensation
and the effect of the method in both the annual and interim financial
statements. The


                                       24
<PAGE>
provisions of this statement related to transition methods are effective for
fiscal years ending after December 15, 2002, while provisions related to
disclosure requirements are effective in financial reports for interim periods
beginning after December 31, 2002.

     We elected to continue to account for stock-based compensation plans using
the intrinsic value-based method of accounting prescribed by APB No. 25,
"Accounting for Stock Issued to Employees," and related interpretations. Under
the provisions of APB No. 25, compensation expense is measured at the grant date
for the difference between the fair value of the stock and the exercise price.

OFF-BALANCE SHEET ARRANGEMENTS

     We do not have any off-balance sheet arrangements.

ITEM  7.     FINANCIAL  STATEMENTS.

     The financial statements and related notes are included as part of this
Annual Report as indexed in the appendix on page F 1 through F 20.

ITEM  8.     CHANGES  IN  AND  DISAGREEMENTS  WITH ACCOUNTANTS ON ACCOUNTING AND
             FINANCIAL  DISCLOSURE.

     None.

ITEM  8A.     CONTROLS  AND  PROCEDURES.

     Disclosure controls and procedures are controls and other procedures that
are designed to ensure that information required to be disclosed by us in the
reports that we file or submit under the Exchange Act is recorded, processed,
summarized and reported, within the time periods specified in the Securities and
Exchange Commission's rules and forms. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that
information required to be disclosed by us in the reports that we file under the
Exchange Act is accumulated and communicated to our management, including our
principal executive and financial officers, as appropriate to allow timely
decisions regarding required disclosure.

     Evaluation of Disclosure and Controls and Procedures. As of the end of the
period covered by this Quarterly Report, we conducted an evaluation, under the
supervision and with the participation of our chief executive officer and
principal financial officer, of our disclosure controls and procedures (as
defined in Rules 13a-15(e) of the Exchange Act). Based on this evaluation, our
chief executive officer and principal financial officer concluded that our
disclosure controls and procedures are effective to ensure that information
required to be disclosed by us in reports that we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time
periods specified in Securities and Exchange Commission rules and forms.

     Changes in Internal Controls over Financial Reporting. There was no change
in our internal controls, which are included within disclosure controls and
procedures, during our most recently completed fiscal quarter that has
materially affected, or is reasonably likely to materially affect, our internal
controls.


                                       25
<PAGE>
                                    PART III

ITEM  9.     DIRECTORS  AND  EXECUTIVE  OFFICERS  OF  THE  REGISTRANT.

EXECUTIVE OFFICERS AND DIRECTORS

     The following table furnishes the information concerning our directors and
officers.

<TABLE>
<CAPTION>
                NAME         AGE              POSITION                DIRECTOR SINCE
          -----------------  ---  ----------------------------------  --------------
<S>                          <C>  <C>                                 <C>
          Betty-Ann Harland  54               Chairman                     2004
          Sydney A. Harland  55   President, Chief Executive Officer       2006
                                            and Director
           Edmund Gorman     60   Chief Financial Officer, Secretary       2006
                                            and Director
           Robert Glassen    59               Director                     2006
          Arthur N. Kelly    44               Director                     2004
           Richard Proulx    52               Director                     2005
          Mark Hollingworth  47            Vice President                  N/A
</TABLE>

     The members of our board of directors are subject to change from time to
time by the vote of the stockholders at special or annual meetings to elect
directors. The number of the directors may be fixed from time to time by
resolution duly passed by our board. Each director is elected for a period of
one year at the annual meeting of our stockholders, and will hold office for the
term for which elected and until his successor is elected and qualified or until
his earlier death, resignation or removal. Vacancies and newly created
directorships resulting from any increase in the number of authorized directors
may generally be filled by a majority of the directors then remaining in office.
The directors elect officers annually. Betty-Ann Harland and Sydney A. Harland
are married. Otherwise, there are no family relationships among our directors
and officers.

     We may employ additional management personnel, as our board of directors
deems necessary. We have not identified or reached an agreement or understanding
with any other individuals to serve in management positions, but do not
anticipate any problem in employing qualified staff.

     A description of the business experience during the past several years for
each of our directors and executive officers is set forth below.

     Betty-Ann Harland has 31 years of experience in a variety of senior
management positions. Prior to joining our board, she was vice-president of
Ameri-can Equipment Sales and Leasing. From 1988 to 1993, she worked in finance
and insurance and sales consulting for Decarie Motors, of Montreal, Quebec. From
1994 until 1995, she was a finance and insurance specialist for Addison Bay, of
Toronto, Ontario.

     Sydney A. Harland has over 20 years of business experience, primarily in
management of new innovative product solutions, in the railway,
telecommunications, electrical utilities and mining industries. Mr. Harland is
an entrepreneur who ran his own company, Ameri-Can Equipment Sales & Leasing
Inc. for almost 20 years - until 2005. Between 1995 and 2000, Mr. Harland also
worked on a consulting basis for Ontario Power Generation's technology lab where
he was mandated to develop marketing and commercialization plans for OPG's
specialized technology and customer service offerings. In 1998 he co-founded ARS
Networks and served as chairman, president and chief executive officer on a
consulting basis. ARS was a fully reporting publicly traded company that was
engaged in the design and development of advanced railway communications and
data management systems. He holds two patents and has been elected a member of
the Canadian Institute of Marketing and the American Railway Engineering and
Maintenance-of-Way Association.

     Mr. Gorman has 30 years of progressing experience in corporate finance,
organizational development and strategic planning. In 1973 he joined Delloite
Touche and in 1978 moved to Morrison Knudsen Corporation in Boise, Idaho, where
he worked for almost 20 years in various executive positions, starting with the
company as international legal and tax counsel he rose to become senior vice
president, chief financial officer and treasurer. In


                                       26
<PAGE>
1995, Mr. Gorman joined American Ecology Corporation of Houston, Texas, a NASDAQ
company specializing in nuclear, medical waste hazardous waste disposal, serving
first as a chief financial officer and then president and chief operating
officer.  In 1997, Mr. Gorman founded E.J Gorman & Associates, a financial and
legal consulting firm specializing in project financing, company start-ups and
organizational development.  He holds degrees of Bachelor of Science and Doctor
of Jurisprudence from the University of Oregon and a Post Doctorate (L.L.M.) in
Law from New York University.

     Mr. Glassen served as a member of the Florida House of Representatives
Staff, House Natural Resources Committee, Tallahassee, Florida. In 1978 he
joined Dames & Moore, Boca Raton, Florida, as a Senior Geologist. In 1985, he
joined O.H. Materials Corporation (OHM) as a Regional Manager. In 1990 he joined
Steffen, Robertson and Kirsten US, Inc. (a company specializing in environmental
and engineering consulting for the mining industry) as executive vice-president
and chief operating officer. In 1993 he was recruited by Ogden Environmental
where he was a vice president and general manager of their Oak Ridge, Tennessee
office. In 1997, he joined SCIENTECH, Inc. where he served as a general manager
of Grant Environmental, general manager of the Utility Security Services
Division, and vice president, sales and marketing on assignment with Ontario
Power Generation's Kinectrics subsidiary. From 2002 to present, he was president
of Timberline Ridge Consulting, where he was a consultant to Enertech (a
division of Curtiss Wright) identifying opportunities and executing nationwide
sales of engineering and technical service to U.S. nuclear power plants. He
holds degrees of Bachelor of Arts from Villanova University of Pennsylvania, a
Masters degree from the University of Virginia and has completed post graduate
studies in geology at Florida State University.

     Arthur N. Kelly has 18 years of marketing, sales and management experience
and is currently vice president of sales-North America for ELTEK Energy where he
is responsible for the development and growth of all ELTEK Energy sales in the
U.S and Canadian markets. He attended Concordia University in Montreal where he
earned his bachelor of business administration degree. Mr. Kelly held various
sales and management positions with Marconi Communications from 1988 to 2001
where he was responsible for sales of power generation and communication
supplies to major North American communications companies. Mr. Kelly was a sales
a manager for S.N.P Associates in France from 1986 to 1988 and also district
sales manager for Pylon Electronics in Montreal, Quebec from 1985 to 1986.

     Richard Proulx has a background in marketing and sales and presently is
director of sales of Cash Acme, Canada, a division of Reliance Manufacturing, a
world-wide Australian based specialty water valve manufacturer supplying its
products to the commercial and residential building industry. Prior to joining
Cash Acme, Canada, Mr. Proulx was North American sales manager for Reliance
Manufacturing's product launch and North American distribution network. From
1998 to 2002, he was general sales manager of IIG Specialties responsible for
introducing new industrial products to the North American market and managing
U.S and Canadian sales operations for existing product lines. From 1985 to 1997,
Mr. Proulx was president and founder of Terval Sales and Services, a plumbing
and heating manufacturer's sales agency in Toronto. He received his C.E.T. in
mechanical building sciences from St. Laurent College in 1974 and his diplomas
in business administration from Vanier College in 1976.

     Mark Hollingworth is the founder of 5i Strategic Affairs, a management
consulting firm specializing in leading and facilitating the strategic planning
and implementation process for blue chip and promising start up companies.
Recent clients have included the Government of Canada, Hydro-Quebec, Ivaco Inc,
Kruger Inc, McGill University, Option Consommateurs, Setym International, and
many other smaller companies and start-ups. Mr. Hollingsworth also lectures at
McGill University where he teaches Strategic Management/Leadership,
Technological Entrepreneurship and Technology Impact Assessment in several
different faculties. He is the author of the book "Growing People, Growing
Companies" and has also had articles published in the Globe & Mail and the Ivey
Business Journal.

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

     Under Section 16(a) of the Exchange Act, our directors and certain of our
officers, and persons holding more than 10 percent of our common stock are
required to file forms reporting their beneficial ownership of our common stock
and subsequent changes in that ownership with the United States Securities and
Exchange Commission. Such persons are also required to furnish Global Wataire
with copies of all forms so filed.


                                       27
<PAGE>
     Based solely upon a review of copies of such forms filed on Forms 3, 4, and
5, and amendments thereto furnished to us, we believe that as of the date of
this report, our executive officers, directors and greater than 10 percent
beneficial owners complied on a timely basis with all Section 16(a) filing
requirements.

COMMITTEES OF THE BOARD OF DIRECTORS

     Compensation Committee. Our board of directors has created a compensation
committee which makes recommendations to the board of directors concerning
salaries and compensation for our executive officers and employees. The members
of the committee are Arthur Kelly, as chairman, and Richard Proulx. We have
adopted a charter for the compensation committee.

     Audit Committee. Our board of directors has created an audit committee
which is directly responsible for the appointment, compensation, and oversight
of the work of any registered public accounting firm employed by Global Wataire
(including resolution of disagreements between our management and the auditor
regarding financial disclosure) for the purpose of preparing or issuing an audit
report or related work. The audit committee also reviews and evaluates our
internal control functions. The members of the committee are Arthur Kelly, as
chairman, and Richard Proulx. We have adopted a charter for the audit committee.

     Audit committee members shall meet the requirements of the National
Association of Securities Dealers and the criteria set forth below. The audit
committee shall be comprised of two or more directors as determined by the board
of directors, each of whom shall be independent non-executive directors, free
from any relationship that would interfere with the exercise of his independent
judgment. All members of the audit committee shall have a basic understanding of
finance and accounting and be able to read and understand fundamental financial
statements, and at least one member of the audit committee shall have accounting
or related financial management expertise.

Specifically, the audit committee:

-    Review  and  reassess the adequacy of its charter at least annually. Submit
     the  charter  to  the board of directors for approval and have the document
     published  at least every three years in accordance with the Securities and
     Exchange  Commission  regulations.

-    Review  our  annual  audited  financial  statements  prior  to  filing  or
     distribution.  Review  should  include  discussion  with  management  and
     independent auditors of significant issues regarding accounting principles,
     practices  and  judgments.

-    In consultation  with the management and the independent auditors, consider
     the  integrity  of  Global  Wataire's  financial  reporting  processes  and
     controls.  Discuss  significant  financial  risk  exposures  and  the steps
     management  has taken to monitor, control and report such exposures. Review
     significant  findings  prepared  by  the independent auditors together with
     management's  responses  including  the status of previous recommendations.

-    The independent  auditors are ultimately accountable to the audit committee
     and  the  board  of  directors.  The  audit  committee  shall  review  the
     independence  and performance of the auditors and annually recommend to the
     board  of  directors the appointment of the independent auditors or approve
     any  discharge  of  auditors  when  circumstances  warrant.

-    Approve  the  fees  and  other  significant  compensation to be paid to the
     independent  auditors.

-    On an annual  basis, the audit committee should review and discuss with the
     independent  auditors  all  significant relationships they have with Global
     Wataire  that  could  impair  the  auditors'  independence.

-    Review  the  independent auditors' audit plan, and discuss scope, staffing,
     locations,  reliance  upon  management and internal audit and general audit
     approach.


                                       28
<PAGE>

-    Prior to  releasing the year-end earnings, discuss the results of the audit
     with  the  independent  auditors.  Discuss  certain  matters required to be
     communicated  to audit committees in accordance with the American Institute
     of  Certified  Public  Accountants  Statement of Auditing Standards No. 61.

-    Consider  the  independent  auditors'  judgment  about  the  quality  and
     appropriateness  of  our  accounting principles as applied in its financial
     reporting.

     The members of the audit committee are independent as defined under Rule
4200(a)(15) of the NASD's listing standards.

     Our board of directors has determined that Mr. Kelly is a financial expert.
In addition, Mr. Kelly is independent, as that term is used in Item 7(d)(3)(iv)
of Schedule 14A under the Securities Exchange Act of 1934. In order to be
considered to be independent, a member of an audit committee of a listed issuer
that is not an investment company may not, other than in his or her capacity as
a member of the audit committee, the board of directors, or any other board
committee:

-    Accept  directly  or  indirectly  any  consulting,  advisory,  or  other
     compensatory  fee from the issuer or any subsidiary thereof, provided that,
     unless the rules of the national securities exchange or national securities
     association provide otherwise, compensatory fees do not include the receipt
     of  fixed  amounts  of  compensation  under  a  retirement  plan (including
     deferred  compensation)  for prior service with the listed issuer (provided
     that  such compensation is not contingent in any way on continued service);
     or

-    Be an affiliated  person  of  the  issuer  or  any  subsidiary  thereof.

     As defined by the Exchange Act, an audit committee financial expert means a
person who has the following attributes:

-    An understanding  of generally accepted accounting principles and financial
     statements;

-    The ability  to  assess  the  general  application  of  such  principles in
     connection  with  the  accounting  for  estimates,  accruals  and reserves;

-    Experience  in  preparing,  auditing,  analyzing  or  evaluating  financial
     statements  that  present  a  breadth and level of complexity of accounting
     issues  that  are  generally  comparable  to  the breadth and complexity of
     issues  that  can  reasonably  be  expected  to  be raised by our financial
     statements,  or experience actively supervising one or more persons engaged
     in  such  activities;

-    An understanding  of  internal  controls  and  procedures  for  financial
     reporting;  and

-    An understanding  of  audit  committee  functions.

     Mr. Kelly has acquired the status of financial expert through experience
actively supervising a principal financial officer, principal accounting
officer, controller, public accountant, auditor or person performing similar
functions, and overseeing or assessing the performance of companies or public
accountants with respect to the preparation, auditing or evaluation of financial
statements.

     Nominating Committee. Our board of directors has created a nominating
committee which exercises the power and authority to recommend the appropriate
size and composition of our board, nominees for election to our board, and
nominees for election to the committees. We have not yet formed the committee.
We have adopted a charter for the nominating committee.

     Executive Committee. Our board of directors has created an executive
committee which exercises all the powers and authority of our board between
regular or special meetings of the board in the management of our business and
affairs, except to the extent limited by Nevada law. We have not yet formed the
committee. We have adopted a charter for the executive committee.


                                       29
<PAGE>
CODE OF ETHICS

     We have adopted a code of ethics that applies to our principal executive
officer, principal financial officer, principal accounting officer or
controller, or persons performing similar functions. The code of ethics is
designed to deter wrongdoing and to promote:

-    Honest  and  ethical  conduct,  including the ethical handling of actual or
     apparent  conflicts  of  interest  between  personal  and  professional
     relationships;

-    Full, fair,  accurate, timely, and understandable disclosure in reports and
     documents  that  we  file  with,  or submit to, the SEC and in other public
     communications  made  by  Global  Wataire;

-    Compliance  with  applicable  governmental  laws,  rules  and  regulations;

-    The prompt  internal  reporting of violations of the code to an appropriate
     person  or  persons  identified  in  the  code;  and

-    Accountability  for  adherence  to  the  code.

     We will provide to any person without charge, upon request, a copy of our
code of ethics. Any such request should be directed to our corporate secretary
at 534 Delaware Avenue, Suite 412, Buffalo, New York 14202, telephone (716) 332
7150.

ITEM  10.     EXECUTIVE  COMPENSATION.

     The following table provides certain summary information concerning the
compensation earned by the named executive officers (determined as of the end of
the last fiscal year) for services rendered in all capacities to Global Wataire
and our subsidiaries for the fiscal years ended August 31, 2006, 2005 and 2004.


                                       30
<PAGE>
<TABLE>
<CAPTION>
                                   Summary Compensation Table
------------------------------------------------------------------------------------------------
                                 Annual Compensation                Long Term Compensation
                             ----------------------------  -------------------------------------
                                                                   Awards               Payouts
                                                           --------------------------  ---------
                                                           Restricted    Securities
                                                              Stock      Underlying      LTIP
Name and Principle                          Other Annual    Award(s)    Options/SARs    Payouts
     Position          Year  Salary  Bonus  Compensation      (US$)          (#)         (US$)
---------------------  ----  ------  -----  -------------  -----------  -------------  ---------
<S>                    <C>   <C>     <C>    <C>            <C>          <C>            <C>
Sydney Harland (2)     2006    0       0          0             0             0            0
Chief Executive        2005   N/A     N/A        N/A           N/A           N/A          N/A
Officer and Director   2004   N/A     N/A        N/A           N/A           N/A          N/A

Betty Harland (1)      2006    0       0      $232,000          0             0            0
and Director           2005    0       0      $251,667          0             0            0
                       2004    0       0         N/A            0             0            0

Max Weissengruber      2006    0       0          0            N/A            0            0
(3) President, COO &   2005    0       0       $94,974         N/A            0            0
Director               2004    0       0          0             0             0            0

Edmund Gorman (2)      2006   N/A     N/A        N/A           N/A           N/A          N/A
Chief Financial        2005   N/A     N/A        N/A           N/A           N/A          N/A
Officer                2004   N/A     N/A        N/A           N/A           N/A          N/A

D. Brian Robertson     2006   N/A     N/A        N/A           N/A           N/A          N/A
(3) Chief Financial    2005    0       0       $94,974         N/A            0            0
Officer                2004    0       0         N/A                          0            0
------------------------------------------------------------------------------------------------
</TABLE>

(1)  Ms. Harland's employment contract commenced on October 1, 2004.
(2)  Messrs. Harland and Gorman do not have employment contracts at the time of
     this report.
(3)  Mr. Robertson's and Mr. Weissengruber's contracts were terminated in 2006.

     We have no long-term incentive compensation plan for our executive officers
and employees. In addition, we do not award stock appreciation rights or long
term incentive plan pay-outs.

OPTIONS GRANTED TO EMPLOYEES IN FISCAL 2006

     No stock options were granted to executive employees during fiscal year
ended August 31, 2006.

COMPENSATION OF DIRECTORS

     In the fiscal year ended August 31, 2006, we paid no compensation to our
directors for their services as directors.

EMPLOYMENT AGREEMENTS

     On October 1, 2004, we executed an agreement with Ms. Harland whereby she
would perform various consulting services to Global Wataire for a period of five
years commencing on October 1, 2004. We agreed to pay Ms. Harland the sum of
$220,000 annually, at the rate of $18,333.33 monthly. Our board of directors
will review this fee from time to time. In addition, Ms. Harland was granted a
$50,000 signing bonus and is entitled to a bonus of up to 50 percent of her
annual compensation if and when granted by our board of directors subject to the
achievement of annual performance criteria as approved by the board. Ms.
Harland's duties include (i) execution of our business plan and implementing
controls and procedures to ensure structured growth; (ii) identification and
performance of due diligence of potential merger and acquisitions targets for
our board of directors to review; (iii) developing customer relations and
awareness; (iv) developing and maintaining government public relations; and (v)
any other duties as determined by our board of directors.


                                       31
<PAGE>
ITEM  11.     SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
              RELATED  STOCKHOLDER  MATTERS.

     The following table presents information regarding the beneficial ownership
of all shares of our common stock by:

-    Each person who owns beneficially more than five percent of the outstanding
     shares  of  our  common  stock;

-    Each person  who  owns  beneficially  outstanding  shares  of our preferred
     stock;

-    Each director;

-    Each named  executive  officer;  and

-    All directors  and  officers  as  a  group.

<TABLE>
<CAPTION>
                                                 SHARES OF COMMON STOCK     SHARES OF PREFERRED STOCK
                                                 ----------------------     -------------------------
          NAME OF BENEFICIAL OWNER (1)            BENEFICIALLY OWNED (2)     BENEFICIALLY OWNED (2)
          ----------------------------            ----------------------     ----------------------
                                                  NUMBER        PERCENT        NUMBER       PERCENT
                                               ------------  -------------  ------------  ------------
<S>                                            <C>           <C>            <C>           <C>
Betty-Ann Harland (3) (5) (6)                      -0-            -0-        1,000,000        100
Betty-Ann Harland (4) (5) (6)                      -0-            -0-          65,000          65
Sydney A. Harland (5)                              -0-            -0-           -0-           -0-
Edmund Gorman                                      -0-            -0-           -0-           -0-
Robert Glassen                                     -0-            -0-           -0-           -0-
Arthur N. Kelly                                    -0-            -0-           -0-           -0-
Richard Proulx                                     -0-            -0-           -0-           -0-
Mark Hollingworth                                  -0-            -0-           -0-           -0-
                                               ------------  -------------  ------------
All officers and directors as a group (seven
persons)                                           -0-            -0-        1,065,000
                                               ============  =============  ============
</TABLE>

--------------
(1)  Unless  otherwise  indicated, the address for each of these stockholders is
     c/o  Global  Wataire,  534  Delaware  Avenue,  Suite 412, Buffalo, New York
     14202.  Also,  unless  otherwise  indicated, each person named in the table
     above  has  the sole voting and investment power with respect to our shares
     of  common  stock  which  he  beneficially  owns.
(2)  Beneficial  ownership  is  determined  in  accordance with the rules of the
     Securities  and  Exchange  Commission. As of the date of this report, there
     were  issued  and  outstanding  483,404 shares of our common stock, 100,000
     shares  of  our  Series A preferred stock, 1,000,000 shares of our Series B
     preferred  Stock  and  15,000,000  of  our  Series  C  preferred  stock.
(3)  Series  B  preferred  stock.
(4)  Series  A  preferred  stock.
(5)  Mr. Harland  and  Ms.  Harland  are  married.
(6)  Betty-Ann  Harland  is  chairman  of  our  board of directors. She holds no
     shares  of  our common stock, 65,000 shares of our Series A preferred stock
     and  1,000,000  shares  of  our  Series B preferred stock, the ownership of
     which  gives  her the power to vote 513,000,000 shares of our common stock,
     which  number  exceeds the majority of the issued and outstanding shares of
     the  common  stock  on  the  date  of  this  report.

     Other as stated above:

-    There are  no arrangements, known to us, including any pledge by any person
     of  our  securities, the operation of which may at a subsequent date result
     in  a  change  in  control  of  Global  Wataire;  and

-    There are  no  arrangements  or  understandings  among  members of both the
     former  and  the  new  control  groups and their associates with respect to
     election  of  directors  or  other  matters.

ITEM  12.     CERTAIN  RELATIONSHIPS  AND  RELATED  TRANSACTIONS.

     On September 23, 2004, Betty-Ann Harland acquired 15,000,000 shares of our
common stock, which represented 30.51 percent of our issued and outstanding
common stock. Ms. Harland paid the sum of $25,000 for the shares. In January
2005, the 15,000,000 common shares were exchanged for 1,000,000 shares of our
Series A preferred stock. In July 2005, our board of directors approved the
surrendering and cancellation of 900,000 shares


                                       32
<PAGE>
of Series A preferred stock held by Ms. Harland.  In July, 2005, our board
authorized the issuance of 1,000,000 shares of Series B preferred stock to Ms.
Harland in consideration of $1,000 and the surrender of 900,000 shares of our
Series A preferred stock.  See "Description of Business - Change in Control."

     On January 11, 2006, we executed and closed an Asset Sale Agreement with
Max Weissengruber, our president, chief operations officer and a director, and
D. Brian Robertson, our chief financial officer, with respect to the purchase of
certain assets of Freshwater Technologies, Inc., our wholly-owned subsidiary.
See "Description of Business - Previous Business." Our board of directors
approved of the sale to Messrs. Weissengruber and Robertson on September 29,
2005, and as modified, on January 6, 2006.

ITEM  13.     EXHIBITS.
<TABLE>
<CAPTION>
Exhibit No.                                           Identification of Exhibit
-----------  -----------------------------------------------------------------------------------------------------------
<S>          <C>

10.1*        Asset Purchase Agreement and Plan of Reorganization executed July 27, 2006 by and among Global
             Wataire, Inc., Atlantic Seaboard, Inc. and various other DigiTar parties, filed as exhibit 10.1 to Form 8-K
             on August 1, 2006, Commission File Number 000-31343.
23.1**       Consent of Independent Certified Public Accountants.
31.1**       Certification of Sydney A. Harland, Chief Executive Officer of Global Wataire, Inc., pursuant to 18
             U.S.C.  Sec.1350, as adopted pursuant to Sec.302 of the Sarbanes-Oxley Act of 2002.
31.2**       Certification of Edmund J. Gorman, Chief Financial Officer of Global Wataire, Inc., pursuant to 18
             U.S.C.  Sec.1350, as adopted pursuant to Sec.302 of the Sarbanes-Oxley Act of 2002.
32.1**       Certification of Sydney A. Harland, Chief Executive Officer of Global Wataire, Inc., pursuant to 18
             U.S.C.  Sec.1350, as adopted pursuant to Sec.906 of the Sarbanes-Oxley Act of 2002.
32.2**       Certification of Edmund J. Gorman, Chief Financial Officer of Global Wataire, Inc., pursuant to 18
             U.S.C.  Sec.1350, as adopted pursuant to Sec.906 of the Sarbanes-Oxley Act of 2002.
</TABLE>

--------------
*     Previously filed
**    Filed herewith

ITEM  14.     PRINCIPAL  ACCOUNTANT  FEES  AND  SERVICES.

Audit Fees

     The aggregate fees billed by Rotenberg & Company, LLP for professional
services rendered for the audit of our annual financial statements for fiscal
year ended August 31, 2005 were $25,000.

     The aggregate fees billed by Rotenberg & Company, LLP for professional
services rendered for the audit of our annual financial statements for fiscal
year ended August 31, 2006 were $25,478.

Audit Related Fees

     The aggregate audit-related fees billed by Rotenberg & Company, LLP for
professional services rendered for the audit of our annual financial statements
for fiscal year ended August 31, 2005 were $1,653 for review of SEC comment
letter response.

     The aggregate audit-related fees billed by Rotenberg & Company, LLP for
professional services rendered for the audit of our annual financial statements
for fiscal year ended August 31, 2006 were $2,454 for review of SEC comment
letter response.

Tax Fees

     The aggregate tax fees billed by Rotenberg & Company, LLP for professional
services rendered for tax services for fiscal year ended August 31, 2005 were
$5,545.

     The aggregate tax fees billed by Rotenberg & Company, LLP for professional
services rendered for tax services for fiscal year ended August 31, 2006 were
$2,500.


                                       33
<PAGE>
All Other Fees

     There were no other fees billed by Rotenberg & Company, LLP for
professional services rendered during the last two fiscal years, other than as
stated under the captions Audit Fees, Audit-Related Fees, and Tax Fees.

                                   SIGNATURES

     In accordance with Section 13 or 15(d) of the Securities Exchange Act of
1934, as amended, the registrant has duly caused this Annual Report to be signed
on its behalf by the undersigned, thereunto duly authorized.


Dated: December 14, 2006
                                   By  /s/ Sydney A. Harland
                                       -----------------------------------------
                                       Sydney A. Harland, Chief Executive
                                       Officer


                                   By  /s/ Edmund J. Gorman
                                       -----------------------------------------
                                       Edmund J. Gorman, Chief Financial Officer


                                       34
<PAGE>

     In accordance with the Exchange Act, this report has been signed below by
the following persons on behalf of the registrant and in the capacities and on
the dates indicated.

<TABLE>
<CAPTION>
      SIGNATURE                  TITLE                   DATE
---------------------  --------------------------  -----------------
<S>                    <C>                         <C>
/s/ Sydney A. Harland  President, Chief Executive  December 14, 2006
---------------------     Officer and Director
  Sydney A. Harland

/s/ Edmund J. Gorman    Chief Financial Officer,   December 14, 2006
---------------------    Secretary and Director
   Edmund J. Gorman

/s/ Betty-Ann Harland           Chairman           December 14, 2006
---------------------
  Betty-Ann Harland

  /s/ Robert Glassen            Director           December 14, 2006
---------------------
   Robert Glassen

 /s/ Arthur N. Kelly            Director           December 14, 2006
---------------------
   Arthur N. Kelly

 /s/ Richard Proulx             Director           December 14, 2006
---------------------
   Richard Proulx
</TABLE>


                                       35
<PAGE>
                               GLOBAL WATAIRE INC.
               (FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
                             (A NEVADA CORPORATION)
                                BUFFALO, NEW YORK

                              ---------------------
                                FINANCIAL REPORTS
                                       AT
                                 August 31, 2006
                              =====================


<PAGE>
<TABLE>
<CAPTION>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK

TABLE OF CONTENTS
-----------------------------------------------------------
<S>                                                      <C>
Balance Sheets at August 31, 2006 and 2005                1

Statements of Changes in Stockholders' Deficit for the
  Years Ended August 31, 2006 and 2005                    2

Statements of Operations for the Years Ended
  August 31, 2006 and 2005                                3

Statements of Cash Flows for the Years Ended
 August 31, 2006 and 2005                                 4

Notes to Financial Statements                             6
</TABLE>


<PAGE>
             REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To  the  Board  of  Directors  and  Stockholders
Global Wataire, Inc.
(formerly known as International Development Corp.)
(A Nevada Corporation)
Montreal,  Quebec,  Canada


     We  have  audited  the  accompanying balance sheets of Global Wataire, Inc.
(formerly  known  as  International Development Corp.) as of August 31, 2006 and
2005,  and  the  related  statements  of  operations,  changes  in stockholders'
deficit,  and  cash  flows for the years then ended.  These financial statements
are  the  responsibility  of the Company's management.  Our responsibility is to
express  an  opinion  on  these  financial  statements  based  on  our  audits.

     We  conducted  our  audits  in  accordance with the standards of the Public
Company  Accounting  Oversight  Board  (United States).  Those standards require
that we plan and perform the audits to obtain reasonable assurance about whether
the  financial  statements are free of material misstatement.  An audit includes
examining,  on  a test basis, evidence supporting the amounts and disclosures in
the  financial  statements.  An  audit  also  includes  assessing the accounting
principles  used  and  significant  estimates  made  by  management,  as well as
evaluating  the  overall  financial statement presentation.  We believe that our
audits  provide  a  reasonable  basis  for  our  opinion.

     In  our opinion, the financial statements referred to above present fairly,
in all material respects, the financial position of the Company as of August 31,
2006  and  2005,  and  the  results of its operations and its cash flows for the
years then ended, in conformity with accounting principles generally accepted in
the  United  States  of  America.

     The  accompanying  consolidated  financial  statements  have  been prepared
assuming  Global  Wataire,  Inc.  (formerly  known  as International Development
Corp.)  will  continue  as  a  going  concern.  As  discussed  in  Note E to the
financial  statements,  the Company has incurred losses that have resulted in an
accumulated  deficit.  This  condition  raises  substantial  doubt  about  the
Company's  ability to continue as a going concern.  Management's plans regarding
this  matter  are  described in Note E.  The financial statements do not include
any  adjustments  that  might  result  from  the  outcome  of  this uncertainty.

/s/ Rotenberg & Co., LLP

Rotenberg &  Co., LLP
Rochester, New York
December 6, 2006


<PAGE>
<TABLE>
<CAPTION>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


BALANCE SHEETS
=========================================================================================================

August 31,                                                                         2006          2005
---------------------------------------------------------------------------------------------------------
<S>                                                                            <C>           <C>
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents                                                      $         -   $       194
Accounts Receivable - Net of Allowance for Doubtful Accounts of
  $-0- and $180,995, respectively - Discontinued Operations                              -        15,678
Inventory - Discontinued Operations                                                      -       190,830
---------------------------------------------------------------------------------------------------------
TOTAL CURRENT ASSETS                                                                     -       206,702

OTHER ASSETS
Investment                                                                          65,618             -
---------------------------------------------------------------------------------------------------------
TOTAL ASSETS                                                                   $    65,618   $   206,702
=========================================================================================================
LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
Accounts Payable                                                               $   157,253   $    74,066
Accounts Payable - Discontinued Operations                                               -        15,458
Accrued Expenses                                                                    18,500            --
Deferred Revenue - Discontinued Operations                                               -         7,037
Due to Directors                                                                   490,281       194,363
Due to Directors - Discontinued Operations                                               -       173,333
Due to Stockholder                                                                       -        27,728
Due to Stockholder - Discontinued Operations                                             -       145,212
---------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES                                                                  666,034       637,197
---------------------------------------------------------------------------------------------------------
STOCKHOLDERS' DEFICIT
Common Stock                $.001 Par; 800,000,000 Shares Authorized;
                            483,404 Issued and Outstanding, 20,000,000 Shares
                            Held in Escrow                                             484           484
Common Stock, Class B:      $.001 Par; 50,000,000 and -0- Shares
                            Authorized, respectively; and -0- Issued and
                            Outstanding, respectively.                                   -             -
Preferred Stock, Class A:   $.001 Par; 1,000,000 Shares Authorized;
                            100,000 Issued and Outstanding                             100           100
Preferred Stock, Class B:   $.001 Par; 5,000,000 Shares Authorized;
                            1,000,000 Issued and Outstanding                         1,000         1,000
Preferred Stock, Class C:   $.001 Par; 15,000,000 and -0- Shares
                            Authorized, respectively; and -0-
                            Issued and Outstanding, respectively.                        -             -
Preferred Stock, Class D:   $.001 Par;  13,000,000 and -0- Shares
                            Authorized, respectively; and -0-
                            Issued and Outstanding, respectively.                        -             -
Additional Paid-In Capital                                                       2,738,300     2,709,843
Accumulated Deficit                                                             (3,340,300)   (3,141,922)
---------------------------------------------------------------------------------------------------------
TOTAL STOCKHOLDERS' DEFICIT                                                       (600,416)     (430,495)
---------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                                    $    65,618   $   206,702
=========================================================================================================
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                        1
<PAGE>
<TABLE>
<CAPTION>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK

STATEMENT OF CHANGES IN STOCKHOLDERS' DEFICIT
============================================================================================================================

                                       Common              Preferred Stock       Additional                       Total
                                        Stock               ($0.001 Par)         Paid - In     Accumulated    Stockholders'
                                    ($0.001 Par)       Class A         Class B    Capital        Deficit         Deficit
----------------------------------------------------------------------------------------------------------------------------
<S>                                 <C>            <C>                <C>       <C>           <C>            <C>
BALANCE - AUGUST 31, 2004           $         35   $             --   $     --  $ 1,925,233   $ (2,010,820)  $      (85,552)

Common Stock Issued for Cash                  15                  -          -       24,985              -           25,000

Preferred Stock Issued in Exchange
for Common Stock                             (15)             1,000          -         (985)             -                -

Return of  900,000 Shares for
Cancellation                                   -               (900)         -          900              -                -

Preferred Stock Issued for Cash                -                  -      1,000            -              -            1,000

Commitment for Purchase of
Share for Cancellation                         -                  -          -       (5,000)             -           (5,000)

Common Stock Issued in
  Exchange for  Services Rendered             10                  -          -       19,990              -           20,000

Common Stock Issued in Exchange
for Payment of Accounts Payable                6                  -          -        2,654              -            2,660

Stock Options Granted in Exchange
 for Services Rendered                         -                  -          -      108,014              -          108,014

Stock Options for 433,000
Shares Exercised                             433                  -          -      611,649              -          612,082

Capital Contribution -
Interest Expense                               -                  -          -       22,403              -           22,403

Net Loss                                       -                  -          -            -     (1,131,102)      (1,131,102)

BALANCE - AUGUST 31, 2005                    484                100      1,000    2,709,843     (3,141,922)        (430,495)

Capital Contribution -
Interest Expense                               -                  -          -       28,457              -           28,457

Net Loss                                       -                  -          -            -       (198,378)        (198,378)
----------------------------------------------------------------------------------------------------------------------------

BALANCE - AUGUST 31, 2006           $        484   $            100   $  1,000  $ 2,738,300   $ (3,340,300)  $     (600,416)
============================================================================================================================
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                        2
<PAGE>
<TABLE>
<CAPTION>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK

STATEMENTS OF OPERATIONS
====================================================================================

For the Years Ended August 31,                                 2006         2005
------------------------------------------------------------------------------------
<S>                                                         <C>         <C>

REVENUES, NET                                               $       -   $         -

Cost of Goods Sold                                                  -           586
------------------------------------------------------------------------------------

GROSS PROFIT                                                        -          (586)

EXPENSES
Consulting Fees                                               220,000       331,007
Marketing, Including Amortization
  of Marketing Rights                                               -       125,226
General and Administrative                                    210,281       211,467
Interest Expense                                               28,457        15,011
Restructuring Charges                                               -       304,881
------------------------------------------------------------------------------------

TOTAL EXPENSES                                                458,738       987,592

LOSS FROM OPERATIONS BEFORE
  INCOME FROM SALE OF INVESTMENT                             (458,738)     (988,178)

Gain on Sale of Subsidiary Stock Investment                    65,618             -

LOSS FROM OPERATIONS BEFORE
  PROVISION FOR TAXES                                        (393,120)     (988,178)

Provision for Taxes                                                 -             -

LOSS FROM OPERATIONS                                         (393,120)     (988,178)

DISCONTINUED OPERATIONS
Loss from Discontinued Operations                                   -      (142,924)

Gain from Sale of Net Assets of
  Subsidiary, Net of Taxes                                    194,742             -
------------------------------------------------------------------------------------

NET LOSS                                                    $(198,378)  $(1,131,102)
====================================================================================
WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING -
  BASIC AND DILUTED                                           483,404       264,183

NET LOSS PER COMMON SHARE -
  BASIC AND DILUTED - CONTINUING OPERATIONS                 $   (0.41)  $     (4.28)
  BASIC AND DILUTED - DISCONTINUED OPERATIONS               $    0.40   $     (0.54)
====================================================================================
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                        3
<PAGE>
<TABLE>
<CAPTION>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


STATEMENTS OF CASH FLOWS
================================================================================

For the Years Ended August 31,                             2006         2005
--------------------------------------------------------------------------------
<S>                                                     <C>         <C>

CASH FLOWS FROM OPERATING ACTIVITIES

NET LOSS                                                $(198,378)  $(1,131,102)

NON-CASH ADJUSTMENTS:
Gain on Sale of Net Assets of Subsidiary                 (194,742)            -
Bad Debts Expense                                               -        14,065
Interest on Directors/Stockholder Loans                    28,457        22,403
Shares Issued to Consultants                                    -        20,000
Compensation Expense on Employee Stock Option Grants            -       108,014
Gain on Sale of Subsidiary Stock Investment               (65,618)            -

CHANGES IN ASSETS AND LIABILITIES:
Accounts Receivable                                             -        (6,559)
Prepaid Expenses and Deposits                                   -        40,000
Inventory                                                       -        17,968
Accounts Payable                                           83,186        (1,322)
Accrued Expenses                                           18,500             -
--------------------------------------------------------------------------------

NET CASH FLOWS FROM OPERATING ACTIVITIES                 (328,595)     (916,533)
--------------------------------------------------------------------------------

CASH FLOWS FROM INVESTING ACTIVITIES                            -             -
--------------------------------------------------------------------------------

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from Issuance of Common Stock                          -        25,000
Proceeds from Issuance of Preferred Stock, Class B              -         1,000
Proceeds from Stock Options Exercised                           -       612,082
Payment for Purchase of Common Stock for Cancellation           -        (5,000)
Advances from Directors                                   328,401       446,684
Repayments to Directors                                         -      (228,885)
Advances from Stockholder                                       -       120,297
Repayments to Stockholder                                       -       (54,684)
--------------------------------------------------------------------------------

NET CASH FLOWS FROM FINANCING ACTIVITIES                  328,401       916,494
--------------------------------------------------------------------------------

NET CHANGE IN CASH AND CASH EQUIVALENTS                      (194)          (39)

Cash and Cash Equivalents - Beginning of Year                 194           233
--------------------------------------------------------------------------------

CASH AND CASH EQUIVALENTS - END OF YEAR                 $       -   $       194
================================================================================
</TABLE>

                                                                   - continued -
                                                                   -------------

   The accompanying notes are an integral part of these financial statements.


                                        4
<PAGE>
<TABLE>
<CAPTION>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


STATEMENTS OF CASH FLOWS - CONTINUED
========================================================================================

For the Years Ended August 31,                                           2006      2005
----------------------------------------------------------------------------------------
<S>                                                                   <C>         <C>

SUPPLEMENTAL DISCLOSURES
========================================================================================

Interest Paid                                                         $       -   $    -

Income Taxes Paid                                                     $       -   $    -
========================================================================================


NON-CASH INVESTING AND FINANCING ACTIVITIES
========================================================================================

ACQUISITION OF MARKETING RIGHTS VIA ISSUANCE OF PREFERRED STOCK       $  15,000   $    -

TERMINATION OF MARKETING RIGHTS VIA CANCELLATION OF PREFERRED STOCK   $ (15,000)  $    -

ISSUANCE OF COMMON STOCK FOR PAYMENT OF ACCOUNTS PAYABLE              $       -   $2,660

ASSETS AND LIABILITIES TRANSFERRED TO RELATED PARTIES IN
  CONNECTION WITH SALE OF NET ASSETS OF SUBSIDIARY:
Accounts Receivable                                                   $  15,678   $    -
Inventory                                                             $ 190,830   $    -
Accounts Payable                                                      $ (15,457)  $    -
Deferred Revenue                                                      $  (7,037)  $    -
Due to Directors                                                      $(173,333)  $    -
Due to Stockholder                                                    $(145,212)  $    -

SALE OF NET ASSETS OF SUBSIDIARY PAID VIA FORGIVENESS OF
  LIABILITIES:
Due to Directors                                                      $ (32,483)  $    -
Due to Stockholder                                                    $ (27,728)  $    -
========================================================================================
</TABLE>

   The accompanying notes are an integral part of these financial statements.


                                        5
<PAGE>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK

NOTES  TO  FINANCIAL  STATEMENTS
================================================================================

NOTE  A - THE  COMPANY
          International  Development  Corp.  ("IDC")  was  formed on October 22,
          2004,  under the laws of the state of Nevada. On December 9, 2004, IDC
          merged  with Ozolutions Inc., a Delaware Corporation, which was formed
          on January 10, 1996 as Unipak Process, Inc., with IDC as the surviving
          corporation.  On April 13, 2006 IDC changed its name to Global Wataire
          Inc.  The  Company's principal office is located in Buffalo, New York.

          On  December  9,  2004,  the  Company  amended  the  articles  of
          incorporation  to  increase the authorized shares of common stock from
          50,000,000  to  800,000,000 and authorized up to 100,000,000 shares of
          all  classes  of  Preferred  Stock.

          On  December  9,  2004,  the  Company  established  a  series  of
          Preferred  Stock, Class A, $0.001 Par Value. The Company is authorized
          to issue 1,000,000 shares of Preferred Stock, Class A, with each share
          carrying 200 to 1 voting rights and convertible into common stock on a
          200  for  1  basis.

          In  April  2005,  the  Company  established  a  series  of  Preferred
          Stock,  Class  B, $0.001 Par Value. The Company is authorized to issue
          5,000,000  shares  with each share carrying 500 to 1 voting rights and
          not  convertible  into  common  stock.

          Preferred  Stock, Class C, $0.001 Par Value. The Company is authorized
          to  issue  15,000,000  shares  with  each share carrying 1 to 1 voting
          rights  and  convertible  into  common  stock  on  a  1  for  1 basis.

          In  May  2006,  the  Company  established a series of Preferred Stock,
          Class  D,  $0.001  Par  Value.  The  Company  is  authorized  to issue
          13,000,000  shares  with  each share carrying 3 to 1 voting rights and
          convertible  into  common  stock  on  a  3  for  1  basis.

          On  May  31,  2006,  the  Company changed the name of its wholly owned
          subsidiary Freshwater Technologies, Inc. to Atlantic Seaboard Company.

          SCOPE OF BUSINESS
          The  Company  currently  has  changed  its  business  focus  from  the
          development  of  water  activation  and  purification  to advisory and
          transactional  services  to  help high potential emerging companies to
          develop  and  implement  strategies  to  obtain  capital  and  become
          successful.

NOTE  B - SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES
          METHOD  OF  ACCOUNTING

          The  Company maintains its books and prepares its financial statements
          on  the  accrual  basis  of  accounting

          CASH AND CASH EQUIVALENTS
          Cash  and  cash  equivalents  include  time  deposits, certificates of
          deposit,  and  all  highly  liquid  debt  instruments  with  original
          maturities  of  three  months  or less. The Company maintains cash and
          cash  equivalents  at  financial  institutions, which periodically may
          exceed  federally  insured  amounts.


                                        6
<PAGE>
          INCOME  TAXES
          The  Company  accounts  for  income  taxes  in  accordance  with
          Statement  of  Financial Accounting Standards No. 109, "Accounting for
          Income  Taxes," using the asset and liability approach, which requires
          recognition  of  deferred  tax liabilities and assets for the expected
          future  tax consequences of temporary differences between the carrying
          amounts  and the tax basis of such assets and liabilities. This method
          utilizes  enacted  statutory tax rates in effect for the year in which
          the  temporary differences are expected to reverse and gives immediate
          effect  to  changes  in  income tax rates upon enactment. Deferred tax
          assets  are  recognized, net of any valuation allowance, for temporary
          differences  and  net  operating  loss  and tax credit carry forwards.
          Deferred  income  tax  expense  represents  the change in net deferred
          assets  and  liability  balances.
                                                               -     continued -


                                        7
<PAGE>
GLOBAL  WATAIRE  INC.
(FORMERLY  KNOWN  AS  INTERNATIONAL  DEVELOPMENT  CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


NOTES  TO  FINANCIAL  STATEMENTS
================================================================================

NOTE  B - SUMMARY  OF  SIGNIFICANT  ACCOUNTING  POLICIES  -  CONTINUED
          EARNINGS  PER  SHARE
          Earnings  per  share  of  common  stock  are  computed  in  accordance
          with  SFAS No, 128, "Earnings per Share". Basic earnings per share are
          computed  by  dividing income or loss available to common shareholders
          by  the  weighted-average number of common shares outstanding for each
          period.  Diluted  earnings  per  share are calculated by adjusting the
          weighted  average  number of shares outstanding assuming conversion of
          all  potentially  dilutive  stock  options,  warrants  and convertible
          securities,  if  dilutive.  Common  stock  equivalents  that  are
          anti-dilutive  are  excluded from both diluted weighted average number
          of  common  shares  outstanding  and  diluted  earnings  per  share.

          FINANCIAL  INSTRUMENTS
          The  Company's  financial  instruments  consist  of  cash,  long-term
          investments,  and  accounts  payable.  Unless  otherwise  noted, it is
          management's  opinion  that  the Company is not exposed to significant
          interest,  currency  or  credit  risks  arising  from  these financial
          instruments.  The  fair  value  of  these  financial  instruments
          approximates  their  carrying  value,  unless  otherwise  noted.

          USE  OF  ESTIMATES
          The  preparation  of  financial  statements  in  conformity  with
          generally  accepted  accounting principles requires management to make
          estimates  and  assumptions that affect the reported amounts of assets
          and liabilities and disclosure of contingent assets and liabilities at
          the  date  of  the  financial  statements  and the reported amounts of
          revenues  and  expenses  during  the  reporting period. Actual results
          could  differ  from  those  estimates.

          RECLASSIFICATIONS
          Certain  reclassifications  have  been  made  to  the  2005  financial
          statements to conform with the 2006 financial statements presentation.
          Such  reclassifications  had  no  effect  on  net income as previously
          reported.


NOTE  C - DISCONTINUED  OPERATIONS
          On  January  6,  2006,  the  Board  of  Directors  approved  the Asset
          Sales  Agreement  between  the  Company  and  Max  Weissengruber,  the
          Company's  Chief  Operations  Officer,  and  D.  Brian  Robertson, the
          Company's  former  Chief  Financial Officer. The Asset Sales Agreement
          replaces  the  Stock  Purchase  Agreement  that  had  been  previously
          approved  on  September  29,  2005,  but was subsequently rescinded on
          January  6,  2006. The Company sold 100% of the assets and liabilities
          of  FreshWater  Technologies,  Inc.  to  Mr.  Weissengruber  and  Mr.
          Robertson  for  a  total purchase price of $60,211. The purchase price
          was  paid  through  the forgiveness of debts owed to Mr. Weissengruber
          and  Mr.  Robertson  by  the  Company.  The  fair  market value of the
          liabilities  of  FreshWater  Technologies,  Inc.  being assumed by Mr.
          Weissengruber  and  Mr.  Robertson exceed the assets being sold to Mr.
          Weissengruber and Mr. Robertson by $134,531. As a result of this sale,
          the  Company  has  no  revenue  generating  operations  at  this time.


                                        8
<PAGE>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


NOTES  TO  FINANCIAL  STATEMENTS
================================================================================


NOTE  D - MARKETING  RIGHTS
          On  October  12,  2005,  the  Company  entered  into  an  Exclusive
          Licensing Agreement with Wataire Industries, Inc., an unrelated party,
          for  the  exclusive  right to distribute and sell the technology-based
          water generation and purification products of Wataire Industries, Inc.
          in  the  United  States  of  America,  for  an  indefinite  period. In
          consideration of the Exclusive Licensing Agreement, the Company issued
          15,000,000  shares  of  Preferred  Stock,  Class C, valued at $15,000.

          On  June  27,  2006,  the  Company  announced  that  it had terminated
          the  Marketing  Rights/Exclusive  License  Agreement  with  Wataire
          Industries,  Inc.,  that was executed on October 12, 2005. The license
          granted  an  exclusive license for the entire United States of America
          covering  certain  processes and products relating to technology based
          water  generation and purification. The license granted in October was
          subsequently expanded by agreement of the parties to be worldwide. The
          license  agreement was perpetual, non-revocable, and assignable by the
          Company.

          In  connection  with  the  termination  of  the license agreement, the
          Company decided to terminate its relationship with Wataire Industries,
          Inc.,  and  cancel  the issuance of 15,000,000 shares of the Company's
          Class  C  preferred stock and 25,000 shares of Class A preferred stock
          that  had  been  issued  to Phil Fraser and William Robertson by Betty
          Harland  in  exchange  for  the  license  agreement.

NOTE  E - GOING  CONCERN
          The  Company's  financial  statements  have  been  presented  on  the
          basis  that  it is a going concern, which contemplates the realization
          of  assets and the satisfaction of liabilities in the normal course of
          business.  The  Company has reported recurring losses from operations.
          As  a  result, there is an accumulated deficit of $3,340,300 at August
          31,  2006.

          The  Company's  continued  existence  is  dependent  upon  its ability
          to  raise  capital  or  acquire  a  marketable  company. The financial
          statements  do  not  include  any  adjustments that might be necessary
          should  the  Company  be  unable  to  continue  as  a  going  concern.

NOTE  F - RECENTLY  ISSUED  ACCOUNTING  STANDARDS
          In  December  2004,  the  FASB  issued  SFAS  No.  123R, "Share- Based
          Payment"  ("SFAS  123R").  SFASR  revises  FASB  Statement  No.  123
          "Accounting  for  Stock-Based Compensation: and supersedes APB Opinion
          No.  25 "Accounting for Stock Issued to Employees". SFAS 123R requires
          all  public  and  non-public  companies  to  measure  and  recognize
          compensation  expense  for  all  stock-based  payments  for  services
          received  at  the grant-date fair value, with the cost recognized over
          the  vesting  period  (or  the requisite service period). SFAS 123R is
          effective  for  small  business issuers for the fiscal years beginning
          after  December  15,  2005.  As such, the Company is required to adopt
          these  provisions at the beginning of the fiscal year ended August 31,
          2007.  The  Company  has  elected  early  adoption of SGAS 123R to the
          beginning  of  the  fiscal  year  ended  August  31,  2005.

          In  March 2005, the SEC issued Staff Accounting Bulletin No. 107 ("SAB
          107"),  to  provide  further guidance regarding the interaction of the
          provisions  of  SFAS  123R  and  certain  SEC  rules  and regulations.

                                                               -     continued -


                                       9
<PAGE>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


NOTES  TO  FINANCIAL  STATEMENTS
================================================================================

NOTE  F - RECENTLY  ISSUED  ACCOUNTING  STANDARDS  -  CONTINUED
          In  February  2006,  the  Financial  Accounting  Standards  Board
          ("FASB")  issued  Statement  of Financial Accounting Standard ("SFAS")
          No.  155,  "Accounting  for  Certain Hybrid Financial Instruments - an
          amendment  of  FASB  Statement No. 133 and 140" ("SFAS 155"). SFAS 155
          resolves  issues  addressed  in Statement 133 Implementation Issue No.
          D1,  "Application  of  Statement  133  to  Beneficial  Interest  in
          Securitized Financial Assets." SFAS 155 is effective for all financial
          instruments acquired or issued after the beginning of the first fiscal
          year  that  begins  after  September 15, 2006. As such, the Company is
          required to adopt these provisions at the beginning of the fiscal year
          ended  August 31, 2008. The Company is currently evaluating the impact
          of  SFAS  155  on  its  consolidated  financial  instruments.

          In  March  2006,  the  FASB  issued  SFAS  No.  156,  "Accounting  for
          Servicing  of  Financial  Assets  - an amendment of FASB Statement No.
          140" ("SFAS 156"). SFAS 156 amends FASB Statement No. 140 with respect
          to  the  accounting  for  separately  recognized  servicing assets and
          servicing  liabilities.  SFAS  156  requires all separately recognized
          servicing assets and servicing liabilities to be initially measured at
          fair value, if practical. SFAS 156 is effective as of the beginning of
          the  first  fiscal year that begins after September 15, 2006. As such,
          the  Company is required to adopt these provisions at the beginning of
          the  fiscal  year  ended  August  31,  2008.  The Company is currently
          evaluating  the  impact  of  SFAS  156  on  its consolidated financial
          statements.

NOTE  G - EQUITY  COMPENSATION  PLANS
          In  December  2004,  the  Company  established  an  Employee  Stock
          Incentive  Plan  and a Non-Employee Directors and Consultants Retainer
          Stock  Plan.

          The  purpose  of  the  Employee  Stock  Incentive Plan (the "Plan") is
          to  provide  the  employees,  who  make  significant and extraordinary
          contributions  to the long-term growth and performance of the Company,
          with  equity-based compensations incentives, and to attract and retain
          the employees. Under the Plan, the Company may issue up to 500,000,000
          shares  of  $0.001  par value common stock. The Plan has a term of ten
          years,  therefore,  will  expire  in  December  2014.

          The  purpose  of  the  Non-Employee  Directors  and  Consultants
          Retainer  Stock  Plan (the "Plan") is to enable the Company to promote
          the  interests  of  the Company and its stockholders by attracting and
          retaining Non-Employee Directors and Consultants capable of furthering
          the  future  success  of  the  Company  and by aligning their economic
          interests  more  closely  with those of the Company's stockholders, by
          paying  their  retainer or fees in the form of shares of the Company's
          common  stock.  Under the Plan, the Company may issue up to 50,000,000
          shares  of  $0.001  par value common stock. The Plan has a term of ten
          years,  therefore  will  expire  in  December  2014.

          During  the  year  ended  August  31,  2005, the Company granted stock
          options  for  433,000 shares to employees as compensation for services
          rendered,  under the Employee Stock Incentive Plan. In accordance with
          the  provisions  of  SFAS 123R and SAB 107, the Company has recognized
          compensation  expense  of  $108,014  during  the year ended August 31,
          2005, for the fair value of the options at the date of the grant using
          an appropriate option-pricing model. As of August 31, 2005, there were
          no  outstanding  options.

          During  the  year  ended  August  31,  2005,  the Company issued 9,500
          shares  of  common stock to a consultant for services rendered, valued
          at  $20,000,  under  the  Non-Employee Directors and Consultants Stock
          Plan.

          On  May  2,  2006,  the  Company deregistered 107,500 shares of common
          stock  thereby  terminating  the  above  mentioned  plans.


                                       10
<PAGE>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


NOTES  TO  FINANCIAL  STATEMENTS
================================================================================


NOTE  H - RELATED  PARTY  TRANSACTIONS
          In  September  2004,  Betty-Ann  Harland  was  appointed CEO and Chair
          of  the  Board  of  Directors  of the Company, and received 15,000,000
          shares  of common stock in consideration for $25,000. In January 2005,
          the  15,000,000  common  shares  were  exchanged for 1,000,000 Class A
          Preferred  Shares.  In  July 2005, the Board of Directors approved the
          surrendering and cancellation of 900,000 Class A Preferred Shares held
          by  Betty-  Ann  Harland.

          In  July  2005,  the  Board  of  Directors  authorized the issuance of
          1,000,000  Class  B  Preferred  Shares  to  Betty-Ann  Harland  in
          consideration  of  $1,000.

          Certain  disbursements  of  the  Company  have  been  paid  by  two
          directors  of  the  Company, therefore, a Due to Directors account has
          been established. The balance at August 31, 2006 and 2005 was $490,281
          and $367,696, respectively. The amount due is non-interest bearing and
          contains  no  formal repayment terms. The Company has imputed interest
          at  the  prime  rate plus 1% and charged operations with an offsetting
          credit  to  additional  paid  in  capital.

          In  October  2004,  the  Company  entered  into a consulting agreement
          with  its  Chief  Executive  Officer for a five year term, with annual
          compensation  of  $  220,000.

NOTE  I - OTHER  MATTERS
          On  June  5,  2001,  the  Company  entered  into  advisory  agreements
          with  the firms of David Michael LLC and Feng Shui Consulting, Inc. In
          June  2002,  David  Michael LLC and Feng Shui Consulting, Inc. filed a
          suit  against  the Company for breach of contract. The Company filed a
          counter  claim  and  third  party  complaint  denying  the substantive
          allegations  of  the  complaint  and  asserting breach of contract and
          fraud  in  connection with the transaction. In August 2004, the United
          States  District Court for the State of Utah dismissed the case in its
          entirety  with  prejudice,  with  each party to bear its own costs and
          fees.  As  part  of the dismissal, in September 2004, the Company paid
          $5,000  to  repurchase  the 800,000 common shares that were previously
          issued  to  the  plaintiffs. As of August 31, 2006, the 800,000 shares
          have  not been received by the Company for cancellation therefore, the
          shares  are  still  recorded  as  issued  and  outstanding.

          On  January  11,  2002,  the  Company  entered  into  a  financial
          consulting  and  investment  banking agreement with Chapman, Spira and
          Carson LLC ("Chapman"). Chapman cancelled this agreement in June 2002.
          Thereafter in June 2002, Chapman made a demand for arbitration through
          the  American  Arbitration  Association  as  provided in the agreement
          claiming  $50,000  in  fees,  plus  nine percent interest, and 200,000
          shares  of  the  Company's  common  stock. In February 2003, the judge
          returned  a  verdict  against  Chapman  and  awarded  the  Company
          approximately  $22,000 net of any Company legal fees. Chapman appealed
          to  the  New  York  State  Supreme  Court  in 2004 and this appeal was
          dismissed.  Subsequently,  Chapman appealed to the Court of Appeals in
          New  York.  On  April 7, 2006, the firm of Chapman, Spria and Carlson,
          agreed  to  settle  the arbitration award dispute with the Company for
          the  sum  of  $15,000.  The  New York legal firm of Bahn, Herzfeld and
          Multer,  LLP received $12,500 for their services and Max Weissengruber
          and  Brian  Robertson  received  a  total of $2,500 for their expenses
          related  to  the  arbitration  award  and  subsequent  litigation. All
          matters  have  now  been  resolved  regarding  this  matter.


                                       11
<PAGE>
GLOBAL WATAIRE INC.
(FORMERLY KNOWN AS INTERNATIONAL DEVELOPMENT CORP.)
(A NEVADA CORPORATION)
BUFFALO, NEW YORK


NOTES  TO  FINANCIAL  STATEMENTS
================================================================================


NOTE  J - STOCK  TRANSACTIONS
          On  April  13,  2006,  the  holder of the majority of the voting power
          of  our  outstanding  capital  stock  voted  to approve the following:

          1.   A grant  of  discretionary  authority  to  our board of directors
               to implement a reverse split of the issued and outstanding shares
               of  our common stock on the basis or one post-consolidation share
               for each 1,000 pre-consolidation shares to occur immediately. All
               share  and  per  share  amounts  used  in the Company's financial
               statements  and notes have been retroactively restated to reflect
               the  one-for-one  thousand  reverse  stock  split.

          2.   An amendment  to  the  Company's  Articles  of  Incorporation  to
               provide for the creation of a second series of common stock to be
               known  as  "Class  B  Common  Stock".


NOTE  K - INCOME  TAXES
          At  August  31,  2006  and  2005,  the  Company  had  approximately
          $3,228,996  and  $2,965,000  accumulated  tax  losses to apply against
          future  taxable income. The net operating loss carry forwards begin to
          expire  in  2011.

          The  Company  has  fully  reserved  for  any  future tax benefits form
          the  net  operating loss carry forwards since it has not generated any
          net  income  to  date.  The Company has no other material deferred tax
          assets  or  liabilities  for  the  periods  presented.

NOTE  L - REORGANIZATION/INVESTMENT
          On  July  27,  2006  an  Asset  Purchase  Agreement  and  Plan  of
          Reorganization  was  executed  by  Global  Wataire,  Inc.  and  its
          wholly-owned  subsidiary,  Atlantic  Seaboard,  Inc. with DigiTar Inc.
          DigiTar  sold  to Atlantic substantially all of its assets in exchange
          for  49%  of  the  issued and outstanding common stock of Atlantic and
          10,000,000  shares  of  Atlantic's voting convertible preferred stock.
          Global has effectively loss control of its subsidiary ("Atlantic") and
          the  financials  are  therefore no longer consolidated. However, a 30%
          investment  of  Atlantic  has been recorded as an equity investment of
          Global  at  August  31,  2006  at  the  value  of  $65,618.

          20,000,000  shares  of  common  stock  of  the  Company are being held
          in  escrow,  for  the benefit of Digitar for a period of one year from
          the date of the Asset Purchase Agreement at which time Global's shares
          would  pass  free of escrow to Digitar. However, if, before the end of
          that  one year period, Atlantic completes an effective filing with the
          U.S.  Securities  and  Exchange Commission to do an IPO, the shares of
          Global  held  in escrow will automatically revert back to Global under
          the  terms  of  a  separate  Escrow  Agreement.


                                       12