U.S.
SECURITIES AND EXCHANGE COMMISSION


WASHINGTON,
D.C. 20549







FORM
10-Q










(Mark
One)


x
            QUARTERLY
      REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934:
      For the quarterly period ended: May 31,
  2009




o
              TRANSITION
      REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT: For the transition
      period from  to




INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS


(Name of
small business issuer in its charter)





NEVADA
              32-0237237(State
      or other jurisdiction
              (I.R.S.
      employerof
      incorporation or organization)
              identification
      number)





1701 E. Woodfield Rd. Suite
915, Schaumburg, IL 60173


(Address
of principal executive offices and zip code)




800-884-1189


Issuer's
telephone number:




SEC
File Number: 333-153899




Check
whether the issuer (1) filed all reports required to be filed by Section 13 or
15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the issuer was required to file such reports), and
(2) has been subject to such filing requirements for the past 90
days. x
Yes  o
No




Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.




Large
      accelerated filer
                o
                
                Accelerated
      filer
                oNon-accelerated
      filer
                o
                
                Smaller
      reporting company
                x(Do
      not check if a smaller reporting company)




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




APPLICABLE
ONLY TO CORPORATE ISSUERS





State the
number of shares outstanding of each of the issuer's classes of common equity,
as of the latest practicable date: 35,490,000 shares of common stock outstanding
as of May 31, 2009.






Table of Contents







INDEX


PagePART
      I   FINANCIAL INFORMATIONItem
      1.
                            Financial
      Statements
                            3Item
      2.
                            Management's
      Discussion and Analysis of Financial Condition and Results of
      Operations
                            16Item
      3.
                            Quantitative and
      Qualitative Disclosures About Market Risk
                            17Item
      4.
                            Controls and
      Procedures
                            17PART
      II  OTHER INFORMATIONItem
      1.
                            Legal
      Proceedings
                            17Item
      1A.
                            Risk
      Factors
                            17Item
      2.
                            Changes in
      Securities
                            17Item
      3.
                            Defaults Upon
      Senior Securities
                            17Item
      4.
                            Submission of
      Matters to a Vote of Security Holders
                            17Item
      5.
                            Other
      Information
                            17Item
      6.
                            Exhibits
                            18




Table of Contents




PART
I-FINANCIAL INFORMATION




Item1. Financial Statements











INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS





(A
Development Stage Enterprise)











Financial
Statements


(Unaudit)





As
of May 31, 2009 and 2008,


And
Cumulative from February 28, 2008 (Inception) to May 31, 2009











3
 Table of Contents







Table
of Contents





Balance Sheets
                5Statement of Operation
                6Shareholders Equity
                7Statement of Cash Flows
                8Notes to Financial Statements
                9











4
 Table of Contents




INTERNATIONALDEVELOPMENT AND ENVIRONMENTAL HOLDINGS,
      INC(A
      Development Stage Enterprise)BALANCE
      SHEETSMay
      31
                  
                  
                  February
      282009
                  
                  
                  2009ASSETS
                  
                  UnauditedCurrent
      assets:Cash
      and cash equivalents
                  
                  $
                  10,810
                  
                  
                  $
                  (406
                  )Account
      Receivable
                  
                  
                  2,995
                  
                  
                  
                  -Prepaid
      expense
                  
                  
                  -
                  
                  
                  
                  -Total
      Current Assets
                  
                  $
                  13,805
                  
                  
                  $
                  (406
                  )Property,
      plant and equipment, net
                  
                  $
                  2,880
                  
                  
                  $
                  3,248Other
      assets:Loan
      to officers
                  
                  
                  -
                  
                  
                  
                  1,910Total
      Other Assets
                  
                  $
                  -
                  
                  
                  $
                  1,910TOTAL
      ASSETS
                  
                  $
                  16,685
                  
                  
                  $
                  4,752LIABILITIES
      & EQUITYCurrent
      liabilities:Loan
      from officer
                  
                  
                  62,250
                  
                  
                  $
                  69,758Account
      payable
                  
                  
                  169,160
                  
                  
                  
                  155,085Credit
      card payable
                  
                  
                  2,140
                  
                  
                  
                  7,174Accrued
      compensation
                  
                  
                  89,375
                  
                  
                  
                  70,625Loans
      from William Group
                  
                  
                  11,500
                  
                  
                  
                  -Deferred
      revenue
                  
                  
                  -
                  
                  
                  
                  7,730Total
      Current Liabilities
                  
                  $
                  334,426
                  
                  
                  $
                  310,372Stockholders'
      Equity:Preferred
      stock, $0.001 par value; 25,000,000 shares authorized; no shares issued
      and outstanding.Common
      stock, $0.001 par value; 100,000,000 sharesissued
      and outstanding at May 31, 2009.
                  
                  $
                  35,480
                  
                  
                  $
                  35,480Paid-in
      capital
                  
                  
                  284,770
                  
                  
                  
                  266,020Deficit
      accumulated during the development stage
                  
                  
                  (637,991
                  )
                  
                  
                  (607,120
                  )Total
      stockholders' equity
                  
                  
                  (317,741
                  )
                  
                  $
                  (305,620
                  )TOTAL
      LIABILITIES & EQUITY
                  
                  $
                  16,685
                  
                  
                  $
                  4,752








5
 Table of Contents







INTERNATIONALDEVELOPMENT AND ENVIRONMENTAL HOLDINGS,
      INC(A
      Development Stage Enterprise)STATEMENT
      OF LOSSCumulative
      fromFebruary
      28, 2008Three
      Months
                
                
                Three
      Months
                
                
                (Date
      of Inception)Ended
      May 31
                
                
                Ended
      May 31
                
                
                Through
      May
      31,2009
                
                
                2008
                
                
                
                2009Unaudited
                
                
                Unaudited
                
                
                UnauditedRevenues:
                
                $
                23,720
                
                
                $
                -
                
                
                $
                23,720Cost
      of Goods Sold
                
                $
                10,617
                
                
                $
                -
                
                
                $
                160,310Gross
      Profit
                
                $
                13,103
                
                
                $
                -
                
                
                $
                (136,590
                )Operating
      expenses:Research
      and development
                
                
                -
                
                
                
                -
                
                
                
                -Professional,
      consulting and marketing fees
                
                
                500
                
                
                
                -
                
                
                
                234,203General
      and administrative expenses
                
                
                43,306
                
                
                
                52,361
                
                
                
                265,965Depreciation
      and amortization expenses
                
                
                368
                
                
                
                -
                
                
                
                1,533Total
      Operating Expenses
                
                
                44,174
                
                
                
                52,361
                
                
                
                501,701Operating
      Loss
                
                $
                (31,071
                )
                
                $
                (52,361
                )
                
                $
                (638,291
                )Interest
      income, net
                
                $
                200
                
                
                $
                100
                
                
                $
                300Interest
      Expense, net
                
                $
                -
                
                
                $
                -
                
                
                $
                -Loss
      before taxes
                
                $
                (30,871
                )
                
                $
                (52,261
                )
                
                $
                (637,991
                )Loss
      tax expense
                
                $
                -
                
                
                $
                -
                
                
                $
                -Net
      Loss
                
                $
                (30,871
                )
                
                $
                (52,261
                )
                
                $
                (637,991
                )Net
      Loss per common share-Basics
                
                $
                (0.00
                )
                
                $
                (0.00
                )
                
                $
                (0.02
                )Net
      Loss per common share-Diluted
                
                $
                (0.00
                )
                
                $
                (0.00
                )
                
                $
                (0.02
                )Basic
      and diluted weighted averagecommon
      shares outstanding   (Note B)
                
                
                35,480,000
                
                
                
                52,078,457
                
                
                
                41,672,314








6
 Table of Contents




INTERNATIONALDEVELOPMENT AND ENVIRONMENTAL HOLDINGS,
      INC(A
      Development Stage Enterprise)STATEMENT
      OF STOCKHOLDERS EQUITYFOR
      THE PERIOD ENDED May 31, 2009DeficitAccumulatedAdditional
                  
                  
                  During
      the
                  
                  
                  TotalCommon
      Stock
                  
                  
                  Paid-in
                  
                  
                  Development
                  
                  
                  Stockholders'Shares
                  
                  
                  Amount
                  
                  
                  Capital
                  
                  
                  Stage
                  
                  
                  EquityFebruary
      28 , 2008
                  
                  
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -Issued
      common stocks to founderfor
      cash and subscriptionsreceivable
      on 2/28/08
                  
                  
                  50,000,000
                  
                  
                  $
                  50,000
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  $
                  50,000Issued
      common stocks to Williamsfor
      services rendered on 2/28/08
                  
                  
                  2,000,000
                  
                  
                  $
                  2,000
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  $
                  2,000Net
      loss for the periodended
      February 29, 2008
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  $
                  (6,534
                  )
                  
                  $
                  (6,534
                  )Balance,
      February 29 , 2008
                  
                  
                  52,000,000
                  
                  
                  $
                  52,000
                  
                  
                  $
                  -
                  
                  
                  $
                  (6,534
                  )
                  
                  $
                  45,466Issued
      common stocks forcompensation
      expense@0.05
      per share on 3/21/08
                  
                  
                  100,000
                  
                  
                  $
                  100
                  
                  
                  $
                  4,900
                  
                  
                  
                  
                  
                  
                  $
                  5,000Issued
      common stocks forcash
      @0.05 per share
                  
                  
                  150,000
                  
                  
                  $
                  150
                  
                  
                  $
                  7,350
                  
                  
                  
                  
                  
                  
                  $
                  7,500Issued
      common stocks for servicesrendered
      @0.05 per share
                  
                  
                  3,240,000
                  
                  
                  $
                  3,240
                  
                  
                  $
                  158,760
                  
                  
                  
                  
                  
                  
                  $
                  162,000Cancellation
      of shares byfounder
      for no consideration
                  
                  
                  (20,010,000
                  )
                  
                  $
                  (20,010
                  )
                  
                  $
                  20,010
                  
                  
                  
                  
                  
                  
                  $
                  -Contributed
      capital
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  $
                  75,000
                  
                  
                  
                  
                  
                  
                  $
                  75,000Net
      Loss for the periodended
      February 28, 2009
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  $
                  (600,586
                  )
                  
                  $
                  (600,586
                  )Balance,
      February 28, 2009
                  
                  
                  35,480,000
                  
                  
                  $
                  35,480
                  
                  
                  $
                  266,020
                  
                  
                  $
                  (607,120
                  )
                  
                  $
                  (305,620
                  )Contributed
      capital
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  $
                  18,750
                  
                  
                  
                  
                  
                  
                  $
                  18,750Net
      Loss for the periodended
      May 31, 2009
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  $
                  (30,871
                  )
                  
                  $
                  (30,871
                  )Balance,
      May 31, 2009
                  
                  
                  35,480,000
                  
                  
                  $
                  35,480
                  
                  
                  $
                  284,770
                  
                  
                  $
                  (637,991
                  )
                  
                  $
                  (317,741
                  )








7
 Table of Contents




INTERNATIONALDEVELOPMENT AND ENVIRONMENTAL HOLDINGS,
      INC(A
      Development Stage Enterprise)STATEMENT
      OF CASH FLOWSCumulativefrom
      February28,
      2008 (Dateof
      Inception)Three
      Months
                
                
                Three
      Months
                
                
                ThroughEnded
      May 31
                
                
                Ended
      May 31
                
                
                May
      312009
                
                
                2008
                
                
                2009Operating
      Activities:
                
                Unaudited
                
                
                Unaudited
                
                
                UnauditedNet
      Loss
                
                $
                (30,871
                )
                
                $
                (52,261
                )
                
                $
                (637,991
                )Adjustments
      to reconcile net income to net cash provided byOperating
      activities:Depreciation
                
                
                368
                
                
                
                61
                
                
                
                1,533Non-cash
      portion of share based legal fee expense
                
                
                -
                
                
                
                -
                
                
                
                2,000Non-cash
      portion of share based compensation expense
                
                
                -
                
                
                
                5,000
                
                
                
                5,000Non-cash
      portion of share based consulting expense
                
                
                -
                
                
                
                -
                
                
                
                162,000Non-cash
      issuances of President's contributed capital
                
                
                18,750
                
                
                
                18,750
                
                
                
                93,750Write
      off of offering costs
                
                
                -
                
                
                
                -
                
                
                
                17,199Prepaid
      expense
                
                
                -
                
                
                
                (6,400
                )
                
                
                -Loans
      to officer
                
                
                
                
                
                
                
                
                
                
                (1,910
                )Decrease
      (Increase) in accounts receivable
                
                
                (2,995
                )
                
                
                
                
                
                
                (2,995
                )Increase
      (Decrease)  in accrued compensation
                
                
                18,750
                
                
                
                14,375
                
                
                
                89,375Increase
      (Decrease) in account payable
                
                
                14,075
                
                
                
                -
                
                
                
                169,160Increase
      (Decrease) in credit card payable
                
                
                (5,034
                )
                
                
                -
                
                
                
                2,141Increase(Decrease)
      in deferred revenue
                
                
                (7,730
                )
                
                
                -
                
                
                
                -Net
      cash provided by operating activities
                
                $
                5,313
                
                
                $
                (20,475
                )
                
                $
                (100,738
                )Investing
      Activities:Property,
      plant and equipment
                
                
                -
                
                
                
                (4,413
                )
                
                
                (4,413
                )Net
      cash provided by investing activities
                
                $
                -
                
                
                $
                (4,413
                )
                
                $
                (4,413
                )Financing
      Activities:Proceeds
      from issuance of common stock
                
                
                -
                
                
                
                300
                
                
                
                32,233Proceeds
      from collection of subscriptions receivable
                
                
                
                
                
                
                25,267
                
                
                
                25,267Proceeds
      from officer loans
                
                
                (5,598
                )
                
                
                9,407
                
                
                
                64,160Loans
      From William Group
                
                
                11,500
                
                
                
                -
                
                
                
                11,500Disbursement
      of deferred offering costs
                
                
                
                
                
                
                (3,000
                )
                
                
                (17,199
                )Net
      cash provided by financing activities
                
                
                5,902
                
                
                $
                31,974
                
                
                $
                115,961Net
      increase (decrease) in cash and cash equivalents
                
                $
                11,215
                
                
                $
                7,086
                
                
                $
                10,809Cash
      and cash equivalents at beginning of the year
                
                $
                (406
                )
                
                
                -
                
                
                $
                -Cash
      and cash equivalents at end of year
                
                $
                10,809
                
                
                $
                7,086
                
                
                $
                10,809








8
 Table of Contents




INTERNATIONALDEVELOPMENT AND ENVIRONMENTAL HOLDINGS





NOTES
TO FINANCIAL STATEMENTS








NOTE
A- BUSINESS DESCRIPTION





International
Development and Environmental Holdings (the Company) is a Nevada corporation
with its principal corporate offices in Chicago, Illinois. The Company is in the
process of organizing itself and developing its main line of business:
Environmental geological site assessment and remediation. The Company has
registered and may operate under the following assumed corporate names: (1)
Global Environmental Company (NV) (2) Global Environment Company (IL) (3) Global
Architecture & Engineering Company (NV) (4) Global Development &
Construction Company (NV) and (5) Global Real Estate & Finance Company
(NV).





The
Company is presented as in the development stage as of May 31,
2009.  The Company’s business activities during its development stage
consist solely of corporate formation, raising capital, and attempting to secure
environmental remediation contracts.





Going
concern





The
Company’s lack of operating history and financial resources raise substantial
doubt about its ability to continue as a going concern.  The financial
statements do not include adjustments that might result from the outcome of this
uncertainty and if the Company is unable to generate significant revenue or
secure financing, then the Company may be required to cease or curtail its
operations.





NOTE
B – SIGNIFICANT ACCOUNTING POLICIES





Development Stage
Company





The
Company is considered to be in the development stage as defined in Statement of
Financial Accounting Standards (SFAS) No. 7, “Accounting and Reporting by
Development Stage Enterprises”. The Company has devoted substantially all
of its efforts to the corporate formation, the raising of capital and attempting
to secure environmental remediation contracts.





Basis of
accounting





The
financial statements reflect the assets, revenues and expenditures of the
Company on the accrued basis of accounting.





The
Company’s fiscal year end is the last day of the February, i.e., February 28th
or 29th.





Use of
Estimates





The
preparation of financial statements in conformity with generally accepted
accounting principles in the United States of America requires management to
make estimates and assumptions that affect certain amounts reported in the
financial statements and disclosures.  Accordingly, actual results
could differ from those estimates.





Cash and Cash
Equivalents





The
Company considers all highly-liquid investments with an original maturity of
three months or less when purchased to be cash equivalents. The company as of
May 31, 2009 has $ 10,801 cash equivalents.





Property, Plant, and
Equipment Depreciation





Property
and equipment are stated at cost. Expenditures for maintenance and repairs are
charged to income as incurred. Additions, improvements and major replacements
that extend the life of the asset are capitalized at cost. The cost and
accumulated depreciation related to assets sold or retired are removed from the
accounts and any gain or loss is credited or charged to income in the period of
disposal. For financial reporting purposes, depreciation is provided on the
straight-line method over the estimated useful lives of the depreciable assets.
In last fiscal year, the company purchased software cost $ 4,413. As of May,
2009, an accumulate value of $ 1,533 was being depreciated; there was $ 368
depreciation expense recorded in the period of March 1, 2009 to May 31,
2009.





Deferred Offering
Costs





At the
period ended February 29, 2008, the Company had deferred external costs
associated with its planned initial public offering in fiscal 2009, at which
time the costs will be charged against the capital raised or upon effectiveness
of the offering. And the costs of $ 17,199 have charged to operations at the
period ended May 31, 2009. As of May 31, 2009, there was no deferred offering
cost.




9
 Table of Contents




INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS
 
 NOTES
TO FINANCIAL STATEMENTS




NOTE
B - SIGNIFICANT ACCOUNTING POLICIES (Continued)




Research and
Development





The
Company incurs costs on activities that relate to the securing of environmental
remediation contracts. Research and development costs are expensed as incurred.
The Company has expensed its payments in connection with research and
development costs.





Stock-Based
Compensation





On
December 16, 2004, the Financial Accounting Standards Board (“FASB”) published
Statement of Financial Accounting Standards No. 123 (Revised 2004), “Share-Based Payment” (“SFAS
123R”).  SFAS 123R requires that compensation cost related to
share-based payment transactions be recognized in the financial statements.
Share-based payment transactions within the scope of SFAS 123R include stock
options, restricted stock plans, performance-based awards, stock appreciation
rights, and employee share purchase plans.  The provisions of SFAS
123R, as amended, are effective for small business issuers beginning as of the
next interim period after December 15, 2005.





The
Company has elected to use the modified–prospective approach method. Stock-based
compensation expense for all awards granted is based on the grant-date fair
values estimated in accordance with the provisions of FAS 123R. The Company
recognizes these compensation costs, net of an estimated forfeiture rate, on a
pro rata basis over the requisite service period of each vesting trenched of
each award.





The
Company considers voluntary termination behavior as well as trends of actual
option forfeitures when estimating the forfeiture rate.





The
Company measures compensation expense for its non-employee stock-based
compensation under the Financial Accounting Standards Board (FASB) Emerging
Issues Task Force (EITF) Issue No. 96-18, “Accounting for Equity Instruments
that are Issued to Other Than Employees for Acquiring, or in Conjunction with
Selling, Goods or Services”.  The fair value of the option
issued is used to measure the transaction, as this is more reliable than the
fair value of the services received.  The fair value is measured at
the value of the Company’s common stock on the date that the commitment for
performance by the counterparty has been reached or the counterparty’s
performance is complete. The fair value of the equity instrument is charged
directly to compensation expense and additional paid-in
capital.


Basics and Diluted Net Loss
Per Common Share





The
Company computes per share amounts in accordance with SFAS No. 128, “Earnings
per Share”.  SFAS No. 128 requires presentation of basis and diluted
EPS.  Basic EPS is computed by dividing the income (loss) available to
Common Shareholders by the weighted-average number of common shares outstanding
for the period.  Diluted EPS is based on the weighted-average number
of shares of common stock and common stock equivalents outstanding during the
periods.





As of May
31, 2009, the Company issued one type of shares, i.e., common shares
only.  There are no other types securities were
issued.  Accordingly, the diluted and basics net loss per common share
are the same.





The
following table I illustrated the calculations for basics and diluted net loss
per common share for the period of March 1 2008 to May 31, 2008, March 1 2009 to
May 31, 2009,and cumulative period from February 28, 2008 (Date of inception)
through May 31, 2009.








Table
I





Period
      Ended May 31, 2008Loss
      available to common stockholders
                                            
                                            
                                            
                                            
                                            
                                            $
                                            (52,261
                                            )Activity
                                            
                                            
                                            Shares
      Outstanding
                                            
                                            
                                            Days
                                            
                                            
                                            Weighted
      Average Share3/1/2008
                                            
                                            3/20/2008
                                            
                                            
                                            -
                                            
                                            
                                            
                                            52,000,000
                                            
                                            
                                            
                                            20
                                            
                                            
                                            
                                            11,304,3483/21/2008
                                            
                                            5/28/2008
                                            
                                            
                                            100,000
                                            
                                            
                                            
                                            52,100,000
                                            
                                            
                                            
                                            69
                                            
                                            
                                            
                                            39,075,0005/29/2008
                                            
                                            5/31/2008
                                            
                                            
                                            6,000
                                            
                                            
                                            
                                            52,106,000
                                            
                                            
                                            
                                            3
                                            
                                            
                                            
                                            1,699,109Total
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            
                                            92
                                            
                                            
                                            
                                            52,078,457Basic
      & Diluted Net Loss Per Common Share
                                            
                                            
                                            
                                            
                                            
                                            
                                            $
                                            (0.00
                                            )








10
 Table of Contents





INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS





NOTES
TO FINANCIAL STATEMENTS





NOTE
B - SIGNIFICANT ACCOUNTING POLICIES (Continued)





Basics and Diluted Net Loss
Per Common Share (Continued)





Period
      Ended May 31, 2009Loss
      available to common stockholders
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  $
                                                  (30,871
                                                  )Activity
                                                  
                                                  
                                                  Shares
      Outstanding
                                                  
                                                  
                                                  Days
                                                  
                                                  
                                                  Weighted
      Average Share3/1/2009
                                                  
                                                  5/31/2009
                                                  
                                                  
                                                  -
                                                  
                                                  
                                                  
                                                  35,480,000
                                                  
                                                  
                                                  
                                                  92
                                                  
                                                  
                                                  
                                                  35,480,000Total
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  92
                                                  
                                                  
                                                  
                                                  35,480,000Basic
      & Diluted Net Loss Per Common Share
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  
                                                  $
                                                  (0.00
                                                  )














Cumulative
      Period From February 28 2008 to May 31, 2009Loss
      available to common stockholders
                    
                    
                    
                    
                    
                    $
                    (637,991
                    )Activity
                    
                    
                    Shares
      Outstanding
                    
                    
                    Days
                    
                    
                    Weighted
      Average Share2/28/2008
                    
                    2/28/2008
                    
                    
                    52,000,000
                    
                    
                    
                    52,000,000
                    
                    
                    
                    1
                    
                    
                    
                    113,2902/29/2008
                    
                    3/20/2008
                    
                    
                    -
                    
                    
                    
                    52,000,000
                    
                    
                    
                    21
                    
                    
                    
                    2,379,0853/21/2008
                    
                    5/28/2008
                    
                    
                    100,000
                    
                    
                    
                    52,100,000
                    
                    
                    
                    69
                    
                    
                    
                    7,832,0265/29/2008
                    
                    7/14/2008
                    
                    
                    78,000
                    
                    
                    
                    52,178,000
                    
                    
                    
                    47
                    
                    
                    
                    5,342,8457/15/2008
                    
                    8/13/2008
                    
                    
                    2,018,000
                    
                    
                    
                    54,196,000
                    
                    
                    
                    30
                    
                    
                    
                    3,542,2228/14/2008
                    
                    8/24/2008
                    
                    
                    (20,010,000
                    )
                    
                    
                    34,186,000
                    
                    
                    
                    11
                    
                    
                    
                    819,2728/25/2008
                    
                    2/28/2009
                    
                    
                    1,294,000
                    
                    
                    
                    35,480,000
                    
                    
                    
                    188
                    
                    
                    
                    14,532,1133/1/2009
                    
                    5/31/2009
                    
                    
                    -
                    
                    
                    
                    35,480,000
                    
                    
                    
                    92
                    
                    
                    
                    7,111,460Total
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    
                    459
                    
                    
                    
                    41,672,314Basic
      & Diluted Net Loss Per Common Share
                    
                    
                    
                    
                    
                    
                    $
                    (0.02
                    )








The
equation from computing basic and diluted EPS is: Income
available to common shareholders/Weighted-average shares




11
 Table of Contents




INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS





NOTES
TO FINANCIAL STATEMENTS








NOTE
B - SIGNIFICANT ACCOUNTING POLICIES (Continued)





Revenues





The
Company will recognize revenue from the contracts they enter into for
environmental remediation and recognize revenue in accordance with the terms of
those contracts.  As of May 31, 2009, $ 23,720 revenue was
recognized.





Cost of Goods
Sold





At the
period ended May 31, 2009, an amount of $ 10,617 Cost of Goods Sold was recorded
for the projects performing.





Accounts
Receivable





The
Company when it will conduct business will extend credit based on an evaluation
of the customers’ financial condition, generally without requiring collateral.
Exposure to losses on receivables is expected to vary by customer due to the
financial condition of each customer. The Company will monitor exposure to
credit losses and maintain allowances for anticipated losses considered
necessary under the circumstances. The Company has Account Receivable of $ 2,995
as of May 31, 2009.





Income
Tax





Income
taxes are provided for tax effects of transactions reported in the financial
statements and consist of taxes currently due plus deferred taxes. Deferred
taxes are recognized for differences between the bases of assets and liabilities
for financial statement and income tax purposes. The differences in asset and
liability bases relate primarily to organization and start-up costs (use of
different methods and periods to calculate deduction). Deferred taxes are also
recognized for operating losses and tax credits that are available to offset
future income taxes. The deferred tax assets and/or liabilities represent the
future tax return consequences of those differences, which will either be
taxable or deductible when the assets and liabilities are recovered or settled.
The components of the deferred tax asset and liability are classified as current
and concurrent based on their characteristics. Valuation allowances are provided
for deferred tax assets based on management’s projection of the sufficiency of
future taxable income to realize the assets.


Operating
Expense





As of May
31, 2009, the company has a total operating expense of $ 44,174.





Details
are listed in Table below:




Expense
                                                                                                          
                                                                                                          5/31/2009Transfer
      Agent Service Fee
                                                                                                          
                                                                                                          $
                                                                                                          3,275.00Bank
      Service Charges
                                                                                                          $
                                                                                                          836.50Compensation
      Expense
                                                                                                          
                                                                                                          $
                                                                                                          37,500.00Depreciation
      Expense
                                                                                                          
                                                                                                          $
                                                                                                          368.00Miscellaneous
                                                                                                          
                                                                                                          $
                                                                                                          198.30Office
      Supplies
                                                                                                          
                                                                                                          $
                                                                                                          191.89Printing
      and Reproduction
                                                                                                          
                                                                                                          $
                                                                                                          48.15Professional
      FeesAccounting
                                                                                                          
                                                                                                          
                                                                                                          -Legal
      Fees
                                                                                                          
                                                                                                          
                                                                                                          500.00Total
      Professional Fees
                                                                                                          
                                                                                                          $
                                                                                                          500.00Rent
                                                                                                          
                                                                                                          $
                                                                                                          787.50Travel
      & EntertainmentAirfare
                                                                                                          
                                                                                                          
                                                                                                          -Auto
                                                                                                          
                                                                                                          
                                                                                                          104.44Lodging
                                                                                                          
                                                                                                          
                                                                                                          131.99Meals
                                                                                                          
                                                                                                          
                                                                                                          202.19Entertainment
                                                                                                          
                                                                                                          
                                                                                                          30.00Total
      Travel & Entertainment
                                                                                                          
                                                                                                          $
                                                                                                          468.62Total
      Expense
                                                                                                          
                                                                                                          $
                                                                                                          44,173.96





12
 Table of Contents
 
 INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS
 NOTES
TO FINANCIAL STATEMENTS
 
 
 NOTE
B - SIGNIFICANT ACCOUNTING POLICIES (Continued)





Accounts
Payable





The
Company incurred accounts payable $169,160, included professional fee of $16,000
and cost of goods sold of $153,160, respectively.





The
professional fee is consists of $12,000 payable to Williams Law Group for legal
fee and $4,000 for 10-Q review fee to KBL, LLP.





Recent Accounting
Pronouncements





The
Financial Accounting Standards Board (“FASB”) has recently issued several new
accounting pronouncements, which may apply, to the Company at present, or in the
proceeding months as operations expand.





In July
2006, the FASB issued Financial Interpretation No. 48, “Accounting for
Uncertainty in Income Taxes-an interpretation of FASB Statement No. 109” (“FIN
48”), and supplemented by FASB Financial Staff Position FIN 48-1, Definition of
Settlement in FASB Interpretation No. 48, issued May 2, 2007.  FIN 48
specifies how tax benefits for uncertain tax positions are to be recognized,
measured, and derecognized in financial statements; requires certain disclosures
of uncertain tax matters; specifies how reserves for uncertain tax positions
should be classified on the balance sheet; and provides transition and interim
period guidance, among other provisions.  FIN 48 is effective for
fiscal years beginning after December 15, 2006 and as a result, is effective for
the Company in the fiscal year 2008.





In
September 2006, the FASB issued SFAS No. 157, Fair Value Measurements (“SFAS
157”).  SFAS 157 defines fair value, establishes a framework for using
fair value assets and liabilities, and expends disclosures about fair value
measurements.  This statement applies whenever other statements
require or permit assets or liabilities to be measured at fair
value.  SFAS 157 is effective for fiscal years beginning after
November 15, 2007.  The management believes that there is no material
impact on its consolidated results of operations, cash flows, and financial
position.





In
September 2006, the Securities and Exchange Commission (“SEC”) issued Staff
Accounting Bulletin (“SAB”) No. 108, Quantifying Financial Misstatements (“SAB
108”), which expresses the Staff’s views regarding the process of quantifying
financial statement misstatements.  Registrants are required to
quantify the impact of correcting all misstatements, including both carryover
and reversing effects of prior year misstatements, on the current year financial
statements.  The financial statements would require adjustment when
either approach results in quantifying a misstatement that is material, after
considering all relevant quantitative and qualitative factors.  SAB
108 is effective for financial statements covering the first fiscal year ending
after November 15, 2006.  The management believes that there is no
material impact on its consolidated results of operations, cash flows, and
financial position.





In
December 2007, the SEC issued Staff Accounting Bulletin (“SAB”) 110 Share-Based
Payment. SAB 110 amends and replaces Question 6 of Section D.2 of Topic 14,
“Share-Based Payment,” of the Staff Accounting Bulletin series. Question 6 of
Section D.2 of Topic 14 expresses the views of the staff regarding the use of
the “simplified” method in developing an estimate of the expected term of “plain
vanilla” share options and allows usage of the “simplified” method for share
option grants prior to December 31, 2007. SAB 110 allows public companies which
do not have historically sufficient experience to provide a reasonable estimate
to continue use of the “simplified” method for estimating the expected term of
“plain vanilla” share option grants after December 31, 2007. SAB 110 is
effective January 1, 2008 which the Company adopted upon its inception. The
Company currently uses the “simplified” method to estimate the expected term for
share option grants to employees as it does not have enough historical
experience to provide a reasonable estimate. The Company will continue to use
the “simplified” method until it has enough historical experience to provide a
reasonable estimate of expected term in accordance with SAB 110. The Company
does not expect SAB 110 will have a material impact on its balance sheet,
statement of operations and cash flows.




In
December 2007, the Financial Accounting Standards Board (“FASB”) issued
Statement No. 141R, Business Combinations. Statement No. 141R modifies the
accounting and disclosure requirements for business combinations and broadens
the scope of the previous standard to apply to all transactions in which one
entity obtains control over another business.





In
December 2007, the FASB issued SFAS No. 160 Non-controlling Interests in
Consolidated Financial Statements, an amendment of ARB No. 51, this Statement
amends Accounting Research Bulletin No. 51, “Consolidated Financial Statements”
to establish accounting and reporting standards for the non-controlling interest
in a subsidiary and for the deconsolidation of a subsidiary. SFAS 160 is
required to be adopted simultaneously with SFAS 141R and is effective for
reporting periods on or after December 15, 2008. An earlier adoption is not
permitted. Currently, the Company does not have any non-controlling interests
and accordingly, the adoption of SFAS 160 is not expected to have a material
impact on our financial position, cash flows or results of
operations.





13
 Table of Contents




INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS
 NOTES
TO FINANCIAL STATEMENTS


NOTE
C – RELATED PARTY TRANSACTIONS





Loans from Officer and
Shareholder





As of May
31, 2009, the shareholder William Group loans $ 11,500 and the founder and
officer, Philip J. Huseyinof, loans $ 62,250 to the Company to continuing
operating.





Accrued
Compensation





As of May
31, 2009, the company has a total of $ 89,375 accrued compensation for COO,
Ronald Hardesty started from March 21, 2008 to May 31, 2009.





During
the period March 1, 2008 to May 31, 2009, the Company’s President and founding
shareholder, Philip J. Huseyinof, has provided services to the Company without
the expectation of receiving any compensating payment. The value of these
services was estimated at $93,750, based upon the value of another executive
officer of the Company presently under contract. Accordingly, the Company has
recorded the value of these services as a charge to operations and a
corresponding credit to Paid in Capital in these accompanying financial
statements.





Operating
Leases





The
Company entered into three leases for its corporate offices under terms of
non-cancelable operating leases. The first lease term is from June 1, 2008
through May 31, 2009 and requires a $3,458 monthly lease payment. The second
lease consists of a sublease of office space from a related party, which is a
business affiliated with the Company’s founding shareholder, officer and
director. The sublease term runs from August 1, 2008 through January 31, 2010
and requires a $1,464 monthly lease payment. The third lease consists of a
sublease of office space. The sublease term runs from September 1, 2008 through
August 31, 2009 and required the issuance of 10,000 shares of Company common
stock as consideration for the entire lease term.  The value of the
common stock was at $.05 per share or $500.





NOTE
D – SHAREHOLDERS’ EQUITY





Common
Stock





On
February 28, 2008 (date of inception) the Company issued 50,000,000 shares of
common stock to its founder at $ 0.001 per share or $50,000 in initial capital
($ 24,733 cash and $ 25,267 subscription receivable) to fund the Company’s
development efforts.





Additionally
on February 28, 2008, the Company issued 2,000,000 shares of common stock for
legal services rendered which were valued at $2,000 based on the $ 0.001 value
of the shares issued at.





On March
21, 2008, the company issued 100,000 shares at a value of $ 0.05 per share to
one of the officer for compensation expense upon to the employment agreement at
a total value of $ 5,000.





During
the period March 1, 2008 through May 31, 2009, the Company issued an additional
150,000 shares of common stock at $0.05 per share in a private placement raising
an aggregate of $7,500, and issued 3,240,000 shares of stock at the $0.05 value
for consulting services rendered at a value of $162,000.





The
Company’s founder returned 20,010,000 shares of common stock to the Company for
no consideration of cancellation on August 14, 2008.





During
the period of March 1, 2009 to May 31, 2009, the Company issued no additional
shares.





Therefore,
as of May 31, 2009, there were a total of 35,480,000 common shares
outstanding.





Amendments to Corporate
Articles of Incorporation




On
February 28, 2008, the Company was originally incorporated with 200,000,000
shares of common stock authorized with a $.0001 par value and 20,000,000 shares
of preferred stock with a $.0001 par value. On March 20, 2008, the Company
amended its articles to 900,000,000 shares of common stock authorized with a
$.0001 par value and 600,000,000 shares of preferred stock with a $.0001 par
value. Finally, on May 12, 2008, the Company amended its articles to its present
form with 100,000,000 shares of common stock authorized with a $.001 par value
and 25,000,000 shares of preferred stock authorized with a $.001 par
value.





All
references in the accompanying financial statements to the number of common and
preferred shares, par values and per share amounts have been retroactively
adjusted to reflect these amendments.




14
 Table of Contents


INTERNATIONAL
DEVELOPMENT AND ENVIRONMENTAL HOLDINGS
 NOTES
TO FINANCIAL STATEMENTS
   NOTE
D – SHAREHOLDERS’ EQUITY (Continued)


Contributed
Capital





For the
period ended May 31, 2009, the Company’s President and founding shareholder has
provided services to the Company without the expectation of receiving any
compensating payment. The value of these services was estimated at $18,750,
based upon the value of another executive officer of the Company presently under
contract. Accordingly, the Company has recorded the value of these services as a
charge to operations and a corresponding credit to Paid in Capital in these
accompanying financial statements.




NOTE
F - GOING CONCERN





As shown
in the financial statements which have been prepared in conformity with
accounting principles generally accepted in the United States of America, which
contemplates continuation of the Company as a going concern, the Company has
incurred operating losses of $ 30,871 and $52,261 in the 3 months ended May 31,
2009 and 2008; and a cumulative losses $ 637,991 for the period February 28,
2008 (date of inception) through May 31, 2009.





The
Company is currently in the development stage and their activities consist
solely of corporate formation, raising capital, and attempting to secure
environmental remediation contracts.





There is
no guarantee that the Company will be able to raise enough capital or generate
revenues to sustain its operations and carry out its business
plan.  These conditions raise substantial doubt about the Company’s
ability to continue as a going concern.





Management’s
plan in this regards, include seeking environmental remediation contracts from
potential clients and raising additional funds through a private placement
offering of the Company’s common stock. As of May 31, 2009, the Company has
raised revenue of $ 23,720. Management believes that the Company’s business
development and capital raising activities will provide them with the ability to
continue as a going concern.





The
financial statements do not include any adjustments relating to the carrying
amounts of recorded assets or the carrying amounts and classification of
recorded liabilities that may be required should the Company be unable to
continue as a going concern.





The
Company’s lack of operating history and financial resources raise substantial
doubt about its ability to continue as a going concern.  The financial
statements do not include adjustments that might result from the outcome of this
uncertainty and if the Company is unable to generate significant revenue or
secure financing, then the Company may be required to cease or curtail its
operations.





15
 Table of Contents




Item 2. Management’s Discussion and Analysis of Financial
Condition and Results of Operations





Forward-Looking
Statements





The
following discussion and analysis is provided to increase the understanding of,
and should be read in conjunction with, the Financial Statements of the Company
and Notes thereto included elsewhere in this Report. Historical results and
percentage relationships among any amounts in these financial statements are not
necessarily indicative of trends in operating results for any future period. The
statements, which are not historical facts contained in this Report, including
this Plan of Operations, and Notes to the Financial Statements, constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements are based on currently available
operating, financial and competitive information, and are subject to various
risks and uncertainties. Future events and the Company's actual results may
differ materially from the results reflected in these forward-looking
statements. Factors that might cause such a difference include, but are not
limited to, dependence on existing and future key strategic and strategic
end-user customers, limited ability to establish new strategic relationships,
ability to sustain and manage growth, variability of operating results, the
Company's expansion and development of new service lines, marketing and other
business development initiatives, the commencement of new engagements,
competition in the industry, general economic conditions, dependence on key
personnel, the ability to attract, hire and retain personnel who possess the
technical skills and experience necessary to meet the service requirements of
its clients, the potential liability with respect to actions taken by its
existing and past employees, risks associated with international sales, and
other risks described in the Company's other SEC filings.





The safe
harbors of forward-looking statements provided by Section 21E of the Exchange
Act are unavailable to issuers of penny stock. As we issued securities at a
price below $5.00 per share, our shares are considered penny stock and such safe
harbors set forth under the Reform Act are unavailable to us.





PLAN OF
OPERATIONS





We engage
primarily in environmental remediation activities.





Since
inception, we have completed two contracts.  The first is Alliance
Petroleum in Bedford Park, Illinois on completed on December 15,
2008.  We are in the process of a formal request for reimbursement to
the State of Illinois for this project and should have this completed within the
next few weeks and should have a response and acceptance from the Illinois EPA
within 120 days.





The
second contract is Park Forest Marathon in Park Forest, Illinois on November 26,
2008.  We are in the process of a formal request for reimbursement to
the State of Illinois for this project and should have this completed within the
next few weeks and should have a response and acceptance from the Illinois EPA
within 120 days.





In
addition, we have 16 remediation contracts that we are awaiting funding to
commence..





Development Stage Revenues
and Expenditures





Development
stage revenues during the period from inception on February 28, 2008 to May 31,
2009 were $23,720.  Development stage expenditures during the period
from inception on February 28, 2008 to May 31, 2009 were $501,701, which
consisted primarily of professional, consulting and marketing fees of $234,203
and general and administrative expenses $265,965 related to our formation, our
registration statement and related expenses of becoming and being a public
company and initial operations; and $160,310 in cost of sales related to our
operations.




Financial Condition,
Liquidity and Capital Resources





Our
principal capital resources have been acquired through the sale of shares of our
common stock and loans from our president.





At May
31, 2009, we had total assets of $16,685 consisting of cash, property and
equipment and deposits.





At May
31, 2009, our total liabilities were $334,426, consisting of loans from officer
and shareholder, accounts payable, credit card payable, accrued compensation,
and deferred revenue.





Cash
Requirements





We intend
to provide funding for our activities, if any, through a combination of the
private placement of our equity securities, the public sales of equity
securities and borrowing from commercial lenders or our president. Our president
has orally agreed to provide us necessary funding to maintain minimal operations
and fund the cost of our becoming a public company at interest of 5%, payable
upon demand. At May 31, 2009, the amount advanced was $62,250. He is not
obligated to do make any further advances. We have no agreement, commitment or
understanding to secure any such funding from any other source.





We have
no cash and are continuing operations by minimizing expenditures to the maximum
extent possible and through the forbearance of our creditors.  We are
also focusing on short term Phase I, Phase II and tank inspections that
reimburse in a shorter period of time.





We have a
loan agreement with two private lenders to advance us up to $75,000 in stages
through September 30, 2009.  At May 31, 2009, $11,500 had been
advanced.  The Due Date is the earlier of: (i) the collection of
Receivables by Borrower, (ii) a Change in Control Transaction of Borrower, or
(iii) December 31, 2009.   Change in Control means any
transaction pursuant to which more than 50% of the voting rights of the stock of
Borrower are transferred, directly or indirectly, to any person, firm or
entity.




16
 Table of Contents


Our
independent auditors have indicated that there is substantial doubt about our
ability to continue, as a going concern, over the next twelve
months.  There is uncertainty regarding our ability commence
operations of our remediation business plan without additional financing.
 We have a history of operating losses, limited funds and no agreements,
commitments or understandings to secure additional financing except as set forth
above. Our future success is dependent upon our ability to achieve profitable
operations, generate cash from operating activities and obtain additional
financing. There is no assurance that we will be able to generate sufficient
cash from operations, sell additional shares of common stock or borrow
additional funds. Our inability to obtain additional cash could have a material
adverse affect on our financial position, results of operations and our ability
to continue in existence.





Item3.  Quantitative and Qualitative Disclosure about
Market Risk




Not
Applicable




Item4. Controls and Procedures




Evaluation of Disclosure
Controls and Procedures





As of May
31, 2009, under the direction of our Chief Executive Officer and Chief Financial
Officer, we evaluated our disclosure controls and procedures as of May 31, 2009
and concluded that our disclosure controls and procedures were ineffective as of
May 31, 2009 due to the following:  We did not maintain effective
controls to ensure appropriate segregation of duties as the same employees were
responsible for the initiating and recording of transactions, thereby creating
segregation of duties weaknesses. The material weakness relates to the lack of
segregation of duties in that our CEO and CFO are the same person.  In
the preparation of financial statements, footnotes and financial data all of our
financial reporting is carried out by our Chief Financial Officer, and we do not
have an audit committee or independent CEO to monitor or review the work
performed.   We are, in fact, a small, relatively simple
operation from a financial point of view.  The lack of segregation of
duties results from lack of a separate Chief Financial Officer with
accounting technical expertise necessary for an effective system of internal
control.  In order to mitigate this material weakness to the fullest extent
possible, as soon as our finances allow, we will hire an independent Chief
Financial Officer.





There
were no changes in our internal control over financial reporting during the
fiscal quarter ended May 31, 2009, that have materially affected, or are
reasonably likely to materially affect, our internal control over financial
reporting.





PART
II - OTHER INFORMATION




Item1. Legal Proceedings





None





Item1A:  Risk Factors





A smaller
reporting company is not required to provide the information required by this
Item.




Item2. Changes in Securities





None




Item3. Defaults upon Senior Securities.




None




Item4. Submission of Matters to a Vote of Security
Holders.




None




Item5. Other Information.




None




17
 Table of Contents




Item6. Exhibits





Exhibit
              Number
            
            Name
      and/or Identification of Exhibit31.1
            
            Certification of the Chief Executive Officer pursuant to
      Section 302 of the Sarbanes-Oxley Act of 2002.31.2
            
            Certification of the Chief Executive Officer and
      Chief Financial Officer pursuant to U.S.C. Section 1350 as
      adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
      2002.32.1
            
            Certification of Principal Executive Officer pursuant to
      Section 906 of the Sarbanes-Oxley Act of 200232.2
            
            Certification of Principal Financial Officer pursuant to
      Section 906 of the Sarbanes-Oxley Act of
  2002












SIGNATURES





Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.





INTERNATIONAL
      DEVELOPMENT AND
                ENVIRONMENTAL
      HOLDINGSJuly
      15, 2009
              By:
              /s/ Philip
      J. HuseyinofPhilip
      J. Huseyinof
                Chairman
      and CEOJuly
      15, 2009
              By
              /s/
      Ronald
      HardestyRonald
      Hardesty
                Principal
      Financial and Principal Accounting Officer







18
 Table of Contents