<PAGE>

                    U. S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 10-KSB

                                   (MARK ONE)

   [X[ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
                                     OF 1934
                     For the fiscal year ended June 30, 2002

   [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934
               For the transition period from ________ to ________

                         COMMISSION FILE NUMBER 0-22968

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                 (Name of small business issuer in its charter)
                          (Formally FOCAL CORPORATION)
           UTAH                                                  87-0363789
------------------------------                              --------------------
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)

    100 BUSH STREET, SUITE 225
     SAN FRANCISCO, CALIFORNIA                                     94104
----------------------------------------                        -----------
(Address of principal executive offices)                         (Zip Code)

         Issuer's telephone number (including area code): (415) 283-4757

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

      SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE EXCHANGE ACT:
                     Common Stock, $0.10 par value per share
                                (Title of Class)

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

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B not contained in this form, and no disclosure will 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. [X]

The registrant's revenues for its most recent fiscal year were $0.

The aggregate market value of the voting stock held by non-affiliates of the
registrant as of January 15, 2003 was $2,574,611 based upon the average of the
last available bid and asked price of the Common Stock of $0.12 as of January
15, 2003.

The number of shares outstanding of the registrant's Common Stock. $0.10 par
value per share, was 43,003,887 as of January 15, 2003.


<PAGE>

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      None
     _______________________________________________________________________
ALL FORWARD-LOOKING STATEMENTS CONTAINED HEREIN ARE DEEMED BY THE COMPANY TO BE
COVERED BY AND TO QUALIFY FOR THE SAFE HARBOR PROTECTION PROVIDED BY THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995. SHAREHOLDERS AND PROSPECTIVE
SHAREHOLDERS SHOULD UNDERSTAND '[FIAT SEVERAL FACTORS GOVERN WHETHER ANY
FORWARD-LOOKING STATEMENT CONTAINED HEREIN WILL BE OR CAN BE ACHIEVED. ANY ONE
OF THOSE FACTORS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
PROJECTED HEREIN. THESE FORWARD-LOOKING STATEMENTS INCLUDE PLANS AND OBJECTIVES
OF MANAGEMENT FOR FUTURE OPERATIONS, INCLUDING PLANS AND OBJECTIVES RELATING TO
THE PRODUCTS AND THE FUTURE ECONOMIC PERFORMANCE OF THE COMPANY. ASSUMPTIONS
RELATING TO THE FOREGOING INVOLVE JUDGMENTS WITH RESPECT TO, AMONG OTHER THINGS.
FUTURE ECONOMIC. COMPETITIVE AND MARKET CONDITIONS, FUTURE BUSINESS DECISIONS,
AND THE TIME AND MONEY REQUIRED 'f0 SUCCESSFULLY COMPLETE DEVELOPMENT PROJECTS,
ALL OF WHICH ARE DIFFICULT OR IMPOSSIBLE TO PREDICT ACCURATELY AND MANY OF WHICH
ARE BEYOND THE CONTROL OF THE COMPANY. ALTHOUGH THE COMPANY BELIEVES THAT THE
ASSUMPTIONS UNDERLYING THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN ARE
REASONABLE. ANY OF THOSE ASSUMPTIONS COULD PROVE INACCURATE AND, THEREFORE.
THERE CAN BE NO ASSURANCE THAT THE RESULTS CONTEMPLATED IN ANY OF THE
FORWARD-LOOKING STATEMENTS CONTAINED HEREIN WILL BE REALIZED. BASED ON ACTUAL
EXPERIENCE AND BUSINESS DEVELOPMENT, THE COMPANY MAY ALTER ITS MARKETING,
CAPITAL EXPENDITURE PLANS OR OTHER BUDGETS. WHICH MAY IN TURN AFFECT THE
COMPANY'S RESULTS OF OPERATIONS. IN LIGHT OF THE SIGNIFICANT UNCERTAINTIES
INHERENT IN THE FORWARD LOOKING STATEMENTS INCLUDED THEREIN, THE INCLUSION OF
ANY SUCH STATEMENT SHOULD NOT BE REGARDED AS A REPRESENTATION BY THE COMPANY OR
ANY OTHER PERSON THAT THE OBJECTIVES OR PLANS OF THE COMPANY WILL BE ACHIEVED.

                                       2

<PAGE>

                                     PART I

ITEM 1. DESCRIPTION OF BUSINESS.

Focal Corporation ("Company") was incorporated in Utah on August 12. 1980 as
Petro Funding, Inc., for the purpose of acquiring, exploring and developing
natural resource properties. The Company changed its name to TVM Global
Entertainment, Inc. in November 1982, and to Cinema Features, Inc. in July 1983,
as part of the Company's plan to invest in movie production and distribution
rights. By January 1985, the Company had acquired the movie and video cassette
distribution rights for eight motion pictures. In 1989, the Company's movie
rights were independently appraised for audit purposes and the total cost base
of $2,100,000 was decreased by $770,000 to a revised value of $1,330,000.

In March 1993, after several years of unprofitable operations, the Company's
Board of Directors entered into negotiations to sell the Company's movie rights.
As a result of a shareholders meeting held on May 17, 1993, and with the
approval of the Company's shareholders, all of the Company's assets relating to
movie production and distribution were sold to an independent marketing firm in
exchange for $1,200,000 worth of restricted stock. Shortly thereafter, the
shares of restricted stock were distributed to the shareholders of the Company,
on a pro rata basis and without consideration, and the Company's Articles of
Incorporation were amended to change the name of the Company to Focal
Corporation. In addition such amendment to the Company's Articles of
Incorporation effected a one-for-ten reverse stock split of the Company's Common
Stock, changed the par value of the Company's Common Stock to $0.10 per share,
and established a new class of undesignated preferred stock.

During August 1993, the Company's Board of Directors approved a new business
plan to acquire and develop community shopping centers and other types of
operating real properties. In connection with the Company's new business plan,
the Board of Directors appointed Howard M. Palmer as President and Chairman of
the Board. See "Certain Relationships and Related Transactions." Through Mr.
Palmer's experience, coupled with a number of experienced consultants, including
independent architects, construction and civil engineers, developers, brokers
and attorneys, the Company intended to acquire and/or develop real properties
with operations or the potential for operations that generate positive cash
flows.

In June of 1999, the Company entered into four different escrows for the
purchase of seven parcels of developable land in Rosamond, California. The
escrows on the seven parcels closed in September and October of 1999. The
purchase price for the four parcels totaled $1,657,659 and consisted of (i)
775,019 shares of the Company's Common Stock valued (for escrow purposes) at
$775,019, (ii) the assumption of various debts and liens totaling $730,066,
(iii) a note payable in the amount of $144,214, and (iv) cash in the amount of
$8,360. The largest of the parcels is 80 acres, on which the Company planed to
develop a modern recreational vehicle park. The Company intended to construct
approximately 525 recreational vehicle pads surrounding a fresh water lake,
various beaches and other recreation-oriented facilities. The Company has been
notified that a forced sale of certain of the parcels may occur to pay
delinquent property taxes. Foreclosure has also been initiated with respect to
the Rosamond parcels due to delinquent utility bond assessments. During Fiscal
year 2001, one of the parcels was sold.

In June 1999, the Company entered into escrow for the purchase of approximately
48 acres of undeveloped land in Rosamond, California. The purchase price
consists of (i) 395,244 shares of the Company's Common Stock valued (for escrow
purposes only) at $395,244, and (ii) cash in the amount of $6,000. The escrow
closed during the fiscal year ended June 30, 2001.

Until May 15, 2001, the Company was in various stages of negotiation to acquire
properties in Las Vegas, Nevada (one shopping center), Lancaster, California
(one shopping center), Calexico, California (developable land), San Diego,
California (developable land), Victorville, California (developable land) and
Barstow, California (developable land).

On May 15, 2001, Focal Corporation (the "Company") entered into an Amended and
Restated Stock Purchase Agreement (the "Agreement") With United Native
Depository Corporation ("UNDC").

                                       3


<PAGE>

Pursuant to the Agreement, the Company issued 20,183,792 shares of its Common
Stock to UNDC in exchange for the following consideration: (i) cash payment of
$10,000; (ii) execution of a promissory note in the amount of $300,000; and
(iii) the execution of a Management and Development Agreement, pursuant to which
the Company would receive as compensation, 25% of the net profits of the Cabazon
Power Plant facility for 7 years beginning from the commencement date of
operations scheduled for September 2001. Upon the closing of the transaction the
existing management of the Company resigned and the new management was appointed
consisting of the representatives of UNDC.

United Native Depository Corporation, a majority shareholder of the Company, is
a Native American company. UNDC is a financial holding corporation organized
under the laws of the jurisdiction of the Navajo Nation. UNDC is 100% owned by
Native American members whose objective is to increase the economic well being
of the indigenous population. Mr. Deni Leonard, the Company's Chairman and CEO,
is the principal and controlling shareholder of UNDC.

The agreement whereby UNDC acquired controlling interest in the Company required
that the real estate properties be spun off to a wholly owned subsidiary and
that the shares of the subsidiary be distributed in a stock dividend to the
shareholders of the Company. For this purposes, Superior Development, Inc. (
uperior was formed, and the property was assigned to Superior. Howard Palmer,
president of Superior and former president of the Company distributed the
Superior shares to the Company shareholders of record as of May 14, 2001.

On May 13, 2002 a settlement terms agreement was entered into by and among
Howard Palmer, Superior, the Company, Deni Leonard, Chairman of the Company and
UNDC and UNDC pursuant to which; (i) Howard Palmer transferred 1,134,000 shares
and 2,400,000 warrants of the Company to UNDC; (ii) the Company assigned to
Superior a lawsuit pertaining to real estate property previously transferred by
the Company to Superior; (iii) a promissory note for $300,000 made by UNDC that
was to be assigned to Superior along with the real estate remains the property
of the Company; (iv) certain loans due to Howard Palmer from the Company was
forgiven by Howard Palmer; (v) Superior agreed to assume $602,120.38 of accounts
payable that were on the book of the Company, the parties to the Agreement
executed mutual releases, and; (v) Howard Palmer and Superior released any and
all claim to any benefit from the Management and Development contract.

Also on May 13, 2002, a shareholder of the Company and an officer of Superior,
Donald Zink (Zink), entered into a settlement terms agreement with
the Company and UNDC pursuant to which Zink transferred to UNDC 1,150,000 shares
of the Company, retaining ownership of 517,000 shares and as part of this
transaction and also in consideration of retention of the $300,000 note retained
by the Company and assumption of $602,120.38 assumed by Superior pursuant to the
Settlement Terms Agreement above referred to in the previous paragraph, the
Company cancelled a note for $850,000 from Zink which the Company considered
uncollectible. The Parties also entered into mutual releases.

Indigenous Global Development Corporation, the new name for the Company, is now
a Native American majority owned public corporation incorporated in the State of
Utah. The majority of shares are owned by UNDC, a Navajo Nation Corporation.
This ownership is the first majority owned public company by an American Indian
entity within the United States. The objective of this company is to enter the
commercial marketplace and attract capital for the development of Native
American economic initiatives. The design of this company is based on the
primary development of energy merchant power plants. A secondary objective is
the redevelopment of urban properties. There are many advantages which are
available to Indian owned businesses that are not available to the general
public.

As of June 30, 2002, the Company employed 6 persons on a full time basis. The
Company also contracts with several individuals as independent contractors for
various services periodically required by the Company.

                                        4

<PAGE>

ITEM 2. DESCRIPTION OF PROPERTY.

The Company occupies an office in San Francisco. California provided by United
Native Depository Corporation, a majority shareholder and an affiliate of the
Company, on a month to month basis. The Company is subject to the terms of the
lease agreement with United Native Depository Corporation ("UNDC")as of July,
2000. The Company pays $3,240 per month to UNDC. Management of the Company
considers the office space to be adequate to meet the current demands of the
Company's business. In the opinion of the Company's Management, all of the
Company's properties are adequately insured.

ITEM 3. LEGAL PROCEEDINGS.

The payment of certain judgments that were outstanding against the Company were
assumed as part of the $602,120.38 in payables of the Company assumed by
Superior in the Settlement Terms Agreement dated May 13,2002.

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

No matters were submitted to a vote of security holders during the fourth
quarter of the fiscal year covered by this report.

                                     PART II

ITEM 5. MARKET FOR COMMON EQUITY AND RELATED SHAREHOLDER MATTERS

The Company's Common Stock has been listed on the Bulletin Board of the NASD
over-the-counter market ("OTCBB") since September, 2000 formerly under the
symbol FCLO which has now been changed to IGDC to reflect the change in name of
the Company. The Company has not filed its periodic reports on time and has been
delisted from the OTCBB and moved to the other over-the-counter system of OTCBB.
The closing sales price reported on January 15, 2003 was $0.12 per share. The
reported sales in the fiscal year 2002 on monthly basis, are set forth below*.

* HISTORICAL QUOTES PROVIDED BY YAHOO FINANCE, AND QUOTE FOOL COM

  DATE         OPEN        HIGH         LOW       CLOSE
   JUL 01      1.30        1.30        0.35       1.02
   AUG 01      1.11        1.21        0.35       0.90
   SEP 01      1.05        1.08        0.51       0.75
   OCT 01      0.75        0.65        0.23       0.25
   NOV 01      0.25        0.55        0.12       0.30
   DEC 01      0.35        0.35        0.12       0.14
   JAN 02      0.45        0.51        0.35       0.35
   FEB 02      0.15        0.50        0.15       0.15
   MAR 02      0.17        0.50        0.17       0.50
   APR 02      0.30        0.30        0.30       0.30
   MAY 02      0.34        0.34        0.15       0.25
   JUN 02      0.20        0.25        0.20       0.25
   OCT 02      0.05        0.15        0.05       0.15
   NOV 02      0.10        0.15        0.05       0.05
   DEC 02      0.12        0.12        0.05       0.12
   JAN 03      0.10        0.15        0.10       0.12

                                       5


<PAGE>

As of January 15, 2003, there were 43,003,887 shares of the Company's Common
Stock issued and outstanding, held of record by 700 shareholders.

The Company has paid no dividends on its Common Stock and does not expect to pay
dividends in the foreseeable future.

Transfer Online.com, a corporation doing business in Portland, Oregon, serves as
transfer agent for the Common Stock of the Company.

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

OVERVIEW

Focal Corporation (the "Company") was incorporated in the State of Utah in 1980
as Petro-Funding. The Company then changed the focus of its business on July 1,
1993 to the acquisition, development and management of commercial real estate,
primarily shopping centers. During the year ended June 30, 2000, the Company
acquired approximately 120 acres of undeveloped land in Rosamond, California
(the "Rosamond Property"), a community in the Mojave desert approximately 100
miles northeast of Los Angeles. The Rosamond Property was acquired with the
issuance of common stock and the assumption of liens and other encumbrances
secured by such property. The Company has obtained a feasibility study on the
Rosamond Property and intended, among other things, to develop a recreational
vehicle park. As the Company was involved in other businesses prior to July 1,
1993, an accumulated deficit of $1,739,945 had been incurred to the last day of
those operations on June 30, 1993. The Company has not generated any significant
revenue since June of 1993.

The agreement whereby UNDC acquired controlling interest in the Company required
that the real estate properties be spun off to a wholly owned subsidiary and
that the shares of the subsidiary be distributed in a stock dividend to the
shareholders of the Company. For this purpose, Superior Development, Inc.
("Superior") was formed, and the property was assigned to Superior. Howard
Palmer, president of Superior and former president of the Company distributed
the Superior shares to the Company shareholders of record as of May 14, 2001.

On May 13, 2002 an Agreement entitled "Settlement Terms" was made among Howard
Palmer, Superior, the Company, Deni Leonard, Chairman of the Company and UNDC
and UNDC pursuant to which; (i) Howard Palmer transferred 1,134,000 shares and
2,400,000 warrants of the Company to UNDC; (ii) the Company assigned to Superior
a lawsuit pertaining to real estate property previously transferred by the
Company to Superior; (iii) a promissory note for $300,000 made by UNDC that was
to be assigned to Superior along with the real estate remains the property of
the Company; (iv) certain loans due to Howard Palmer from the Company was
forgiven by Howard Palmer, and; (v) Superior agreed to assume $602,120.38 of
accounts payable that were on the books of the Company, the parties to the
Agreement executed mutual releases.

Also on May 13, 2002, a shareholder of the Company an officer of Superior,
Donald Zink (Zink), entered into an agreement entitled "Settlement Agreement"
with the Company and UNDC pursuant to which Zink transferred to UNDC 1,150,000
shares of the Company, retaining ownership of 517,000 shares and as part of this
transaction and also in consideration of the retention of the $300,000 note
retained by the Company and assumption to $602,120.38 assumed by Superior
pursuant to the Settlement Terms agreement the Company cancelled a note for
$850,000 from Zink which the Company considered uncollectible. The parties also
entered into mutual releases.

                                       6

<PAGE>

PLAN OF OPERATION

Indigenous Global Development Corporation is a Native American majority owned
public corporation incorporated in the State of Utah. The majority of shares are
owned by United Native Depository Corporation ("UNDC"), a Navajo Nation
Corporation. This ownership is the first majority owned public company by an
American Indian entity within the United States. The objective of this company
is to enter the commercial marketplace and attract capital for the development
of Native American economic initiatives. The design of this company is based on
the primary development of energy merchant power plants. A secondary objective
is the redevelopment of urban properties. There are many advantages which are
available to Indian owned businesses that are not available to the general
public.

These advantages amount to a substantial savings for project finance. American
Indian based projects located on reservation property can have these advantages
within the power business:

         o        PERMITTING
                  The Tribal Nations have the authority to permit power plants
                  within 15-30 days that are 50 Megawatts or smaller. This
                  advantage is substantial when compared to a non-reservation
                  based project which will require at least 18-24 months of
                  process work and at least 3-5 million dollars in costs.

         o        ENVIRONMENTAL ASSESSMENT

                  The Tribal Governments also have a unique relationship with
                  the federal government relative to environmental assessment.
                  This process can be permitted by the Tribe and approved by the
                  Bureau of Indian Affairs. This process can take 15% of the
                  time of a general environmental review by the state
                  governments.

         o        RESERVATION BASED SITES

                  The Tribal governments have industrial parks which have
                  already completed their environmental assessments and are
                  currently designated as development sites. These sites are all
                  under Tribal authority and have all the attributes of an
                  industrial park: land, water, electricity, access to natural
                  gas and electrical transmission lines, zoning permits for
                  industrial development and access to major highways.

         o        ACCESS TO WATER

                  The Tribal governments have water rights within the boundary
                  of the reservations. These rights are related to the Treaties
                  signed between the United States and the Indian Tribal
                  Nations. The water is controlled by the Tribal government and
                  is available to the industrial sites for power plants.

                                        7

<PAGE>

         o        NATURAL GAS SUPPLY

                  Tribal Nations currently own 17 trillion cubic feet of natural
                  gas within the United States, according to the Department of
                  Interior. In Canada, the estimate is at least 2-3 times the
                  U.S. supply. The development of this natural gas source is
                  minimal. However, the Tribes that do have the natural gas
                  supply have indicated their willingness to enter into
                  agreements to supply natural gas to the Indian owned merchant
                  power plants in return for a percentage of the net revenue.

         o        TAX AVOIDANCE

                  Products delivered to a reservation site do not have to pay
                  sales taxes on the product. The turbines which can amount to
                  15-150 million dollars would have a tax avoidance of 1.2
                  million dollars to 12 million dollars.

                  A second tax avoidance is corporate profit taxes. A Tribal
                  corporation does not have to pay corporate profit taxes. This
                  is a substantial savings.

         o        FEDERAL PROCUREMENT CONTRACTS

                  The Federal Government has a program that sets aside
                  approximately 4000 megawatts of power sales contracts for
                  minority companies. This will be a primary advantage during
                  times when the power sales are diminished and the costs are
                  escalating.

         o        COMMUNITY REINVESTMENT ACT ("CRA") EQUITY AND DEBT

                  Tribal corporations have the designation as minority companies
                  within the federal government and therefore are eligible for
                  financing through the CRA. Banks that have merged have a
                  responsibility to provide capital to the communities they
                  served before the merger and after the merger. For example,
                  Washington Mutual Bank has a 120 billion dollar commitment
                  over a ten year period. This commitment was a part of the
                  merger between Washington Mutual and Dime Bancorp. The U.S.
                  Comptroller of the Currency regulates the commitment. A bank
                  can meet its obligations by contributing equity and debt to a
                  minority company to finance major energy projects or other
                  economic projects.

         o        HUB ZONE PROGRAMS

                  Tribal areas are designated as HUB Zones and are therefore
                  eligible for federal contributions from the federal government
                  when a major contractor subcontracts with an American Indian
                  business. The Federal Government will contribute up to 5% of
                  the contract amount back to the subcontractor as an incentive
                  to the major contractor.

                                        8

<PAGE>

         o        RESERVATION BASED NATURAL GAS PIPELINES

                  Many Indian Tribal reservations have negotiated natural gas
                  pipeline system leases which permit the pipeline to use Tribal
                  lands for transmission of the natural gas supply throughout
                  the United States and Canada. These rights also often offer
                  the Tribal reservations usage rights to the natural gas
                  supply. Many of the Tribes have not used the rights to date
                  and these rights can become a new source of natural gas supply
                  and a new source of collateralized capital.

         o        RESERVATION BASED TRANSMISSION LINES

                  The major energy companies throughout the United States have
                  leased Tribal lands to access the energy market by
                  transmission of electrical power through the reservations.
                  These transmission lines are another source of capital and
                  negotiated power sales contracts. The Tribes have not used
                  this structure to date but there is a future in negotiated
                  leases for capital strategies.

                  The Company has reviewed the potential Native American
                  marketplace for merchant power plants. There are approximately
                  47 U.S. based Indian Tribes that have at least the following
                  characteristics:

                  1. Industrial Park Facilities
                  2. Environmental Assessment Completed
                  3. Access to Transmission Lines
                  4. Access to Natural Gas Lines
                  5. Access to Water
                  6. Sophisticated Tribal Government Structure

                  The Company is planning to develop its merchant power plant
                  projects over a twenty year period. The Company expects to
                  develop the following within selected Tribal projects:

                                       9

<PAGE>

                  1.  Feasibility Study
                  2.  Tribal Lease
                  3.  Tribal Permits: Air, Water, Land, Emissions, Construction
                  4.  Electrical Interconnect Study
                  5.  Natural Gas Supply Study
                  6.  Water Supply Study
                  7.  Wastewater Study
                  8.  Equipment Purchase Agreements
                  9.  Engineering, Procurement, Construction Contract (EPC
                      Contract)
                  10. Operational and Management Plan
                  11. Overall Business Plan
                  12. Tribal Energy Department Permit Analysis (if necessary)
                  13. Tribal Employment Plan

The Energy projects to be owned by the Company that are not located on an Indian
Reservation will not have all the benefits of a reservation based project. The
projects located on an Indian reservation have the full authority of the
sovereignty of the Tribal Treaty and therefore have the tax and permits benefits
as well as the situs benefit of access to Tribal water and land.

The Company energy projects located off the reservation can expect to have the
following benefits:

o        ACCESS TO TRIBAL NATURAL GAS

         Tribes in the United States and Canada recognize Indian Corporations
         both on and off the reservation. Therefore, the Company energy projects
         will have access to Tribal natural gas and will economically benefit
         from negotiated reduced costs.

o        ACCESS TO COMMUNITY REINVESTMENT ACT CAPITAL

         The Company is a majority owned American Indian company and is
         therefore qualified for Community Reinvestment Act (CRA) capital. The
         fact that a project is located off reservation does not preclude the
         project from eligibility for CRA financing. The CRA finance structure
         can enable the Company to access vast amounts of equity and debt funds
         from banks that have recently merged are under an obligation to provide
         capital back to their respective communities.

o        ACCESS TO FEDERAL POWER SALES SETASIDES FOR MINORITY FIRMS

         The federal government has a national setaside program for minority
         firms that have the capacity to provide energy to federal facilities,
         both military and general government. This program has up to 4,000
         megawatts of power sale potential nationwide. The Company is qualified
         as a minority firm and therefore is eligible for this federal program.

                                       10

<PAGE>

The Company intends to have a development team that will address all of the
above areas to insure that it can provide the best possible energy program for
the individual Tribes.

The Company has the unique opportunity to utilize the federal charter system
which allows individuals of Tribe to pursue economic projects under the Section
17 provision. Section 17 of the ACT, 25 U.S.C. 477 which authorizes the
Secretary of Interior to recognize the charter of incorporation of Tribal
business corporations for the purpose of separation between governmental and
business functions.

The Company has presently Tribally enrolled employees who will proceed to
develop individual corporations on their respective reservations. The Tribe will
lease the land and permit the projects for the Tribally enrolled members. This
strategy allows the businesses to be owned by the individuals while still
contributing revenue to the Tribal government through the payment of rental for
the leases. This initiative streamlines the strategy to build and operate a
Tribally based merchant power plant. Only Indian owned businesses have this
authority.

The Company is at the early stage of implementing its business model. To date,
the Company has not begun construction nor has the Company solidified all of its
contracts with third parties to enable it to proceed with the construction.

The Company intends to raise funds for its projects by offering its securities
for sale in a private offering. No specific plans have been made with respect to
the size of the proposed offering.

RESULTS OF OPERATIONS

The Company had net revenue of $81,256 from the sale of land during the fiscal
year ended June 30, 2001. The Company had no revenue from operations during the
fiscal year ended June 30, 2002, since the Company was in the early stage of the
implementation of its business plan. The Company plans to enter the commercial
marketplace and attract capital for the development of Native American economic
initiatives, which involves the primary development of energy merchant power
plants and a secondary objective of the redevelopment of urban properties. See
Plan of Operation.

The Company's operating costs and expenses decreased from $1,529,073 for the
year ended June 30, 2001 to $1,398,522 for the fiscal year ended June 30, 2002.

The Company had a net loss of $991,601 for the fiscal year ended June 30, 2002
and $1,555,658 for the year ended June 30, 2001. Because there was no revenue
generated for 2002 and only $81,256 in revenues generated during 2001, these
losses generally represent the Company's operating expenses plus income tax.

LIQUIDITY AND CAPITAL RESOURCES

From inception of the business to June 30, 2002, the Company's operations have
been financed primarily through the sale of common stock and the issuance of
convertible notes payable. At June 30, 2002, the Company had approximately $(22)
in cash (overdraft).

For the fiscal year ended June 30, 2002, net cash used by operating activities
was $734,202, as compared to $152,294 in the fiscal year ended June 30, 2001.
Net cash used by operating activities in fiscal year ended June 30, 2002
consisting primarily of an operating loss of $991,601 partially offset by
expenses recorded by issuance of common stock of $639,703, and an increase in
accounts payable of $24,767.

For the fiscal year ended June 30, 2002, net cash used by investing activities
was $10,270, which was mainly due to the purchase of equipment for $4,660 and
advances to related parties of $5,610. For the fiscal year ended June 30, 2001,
net cash used by investing activities was $158,865, which was mainly due to the
capitalization of project development costs of $146,876.

                                       11

<PAGE>

NET CASH FLOW FROM FINANCING ACTIVITIES FOR THE FISCAL YEAR ENDED JUNE 30, 2002

Net cash flows from financing activities for the fiscal year ended June 30, 2002
was $738,357. This was attributable primarily to the proceeds from issuance of
notes payable of $275,000 and the proceeds from issuance of common stock of
$714,948. This was partially offset by proceeds from issuance of common stock
paid directly to UNDC of $250,591 and a decrease in notes payable of $1,000.

Net cash flows from financing activities for the fiscal year ended June 30, 2001
was $316,500. This was attributable primarily to the proceeds from issuance of
notes payable of $114,750, stock proceeds of $34,000 and the proceeds from
mortgage of $178,750. This was partially offset by a decrease in notes payable
of $11,000.

The Company has issued approximately eighty convertible promissory notes to
various holders in exchange for cash. Some or all of the convertible promissory
notes may have been inadvertently issued in violation of federal and/or state
securities laws. The Company and its counsel are currently investigating whether
the issuance of any such convertible promissory notes occurred in violation of
law. If any of the convertible promissory notes are found to have been issued in
violation of applicable securities laws, the holders of those notes will have
the ability to force the Company to rescind the underlying transactions.

At June 30, 2002, the Company had total liabilities of $777,236.

The Company currently does not have sufficient capital resources or sources of
liquidity through operations to finance its planned operations during the next
twelve months. The Company intends to obtain the necessary funds to support its
planned operations during the next twelve months in part from private equity
investors. However, there can be no assurance that sufficient financing will be
available to the Company on acceptable terms, or at all. The inability to obtain
such financing could have a material adverse effect on the Company's planned
operations and financial condition.

Management of the Company considers the office space currently used to be
adequate to meet the current demands of the Company's business.

<PAGE>

ITEM 7. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The consolidated financial statements of the Company required to be included in
Item 7 are set forth in the Financial Statements Index.

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                              FINANCIAL STATEMENTS
                                  JUNE 30, 2002


<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                              FINANCIAL STATEMENTS
                                  JUNE 30, 2002

                          INDEX TO FINANCIAL STATEMENTS

                                                                    Page
                                                               -----------------

 Independent Auditors' Report                                       F - 2

 Prior Independent Auditors' Report                             F - 3 - F - 5

 Balance Sheet as of June 30, 2002                                  F - 6

 Statements of Operations
  For the Years Ended June 30, 2002 and 2001, and
  From Inception of Development Stage to June 30, 2002              F - 7

 Statements of Shareholders' Equity (Deficit)
  From Inception of Development Stage to June 30, 2002         F - 8 - F - 12

 Statements of Cash Flows
  For the Years Ended June 30, 2002 and 2001, and
  From Inception of Development Stage to June 30, 2002         F - 13 - F - 14

 Notes to Financial Statements                                 F - 15 - F - 22

                                      F-1


<PAGE>

                          INDEPENDENT AUDITORS' REPORT

December 7, 2002

To the Board of Directors
Indigenous Global Development Corporation
San Francisco, California

We have audited the accompanying balance sheet of Indigenous Global Development
Corporation (Formerly Focal Corporation) (a development stage company) as of
June 30, 2002, and the related statements of operations, shareholders' equity
(deficit), and cash flows for the years ended June 30, 2002 and 2001, and for
the period from July 1, 1994 to June 30, 2002. These financial statements are
the responsibility of the Company's management. Our responsibility is to express
an opinion on the financial statements based on our audit. The financial
statements of Indigenous Global Development Corporation (Formerly Focal
Corporation) (a development stage company) from inception (July 1, 1993) to June
30, 1994, and July 1, 1999 to June 30, 2000 were audited by other auditors whose
reports dated October 7, 1994 and September 20, 2000, respectively, included an
explanatory paragraph that described a going concern uncertainty discussed in
Notes 5 and 7, respectively, of the financial statements. Our opinion insofar as
it relates to the amounts included for Indigenous Global Development Corporation
(Formerly Focal Corporation) (a development stage company) for the period from
inception (July 1, 1993) to June 30, 1994, and July 1, 1999 to June 30, 2000 are
based solely on the reports of the other auditors.

We conducted our audit in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit 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 audit provides a
reasonable basis for our opinion.

In our opinion, based on our audit and the report of the other auditors, the
financial statements referred to above present fairly, in all material respects,
the financial position of Indigenous Global Development Corporation (a
development stage company) as of June 30, 2002, and the results of its
operations and its cash flows for the years ended June 30, 2002 and 2001 and
from inception (July 1, 1993) to June 30, 2002, in conformity with accounting
principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As described in Note 3 to the
financial statements, there are conditions that raise doubt about the Company's
ability to continue as a going concern. The financial statements do not include
any adjustments that might result from the outcome of this uncertainty.

CALDWELL, BECKER, DERVIN, PETRICK & CO., L.L.P.

                                      F-2

<PAGE>

                          INDEPENDENT AUDITORS' REPORT

To the Board of Directors and Shareholders
Focal Corporation

We have audited the accompanying balance sheet of Focal Corporation (the
"Company") as of June 30, 2000, and the related statements of operations,
shareholders' deficit and cash flows for the year then ended. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these statements based on our audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit 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 audit provides 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 Focal Corporation as of June
30, 2000 and the results of its operations and its cash flows for the year then
ended, in conformity with generally accepted accounting principles.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note 7 to the
financial statements, there is substantial doubt about the ability of the
Company to continue as a going concern. The accompanying financial statements do
not include any adjustments that might result from the outcome of this
uncertainty.

/s/ Squar, Milner, Reehl & Williamson, LLP

September 20, 2000
Newport Beach, California

                                       F-3
<PAGE>

                         REPORT OF INDEPENDENT AUDITORS
                         ------------------------------


To the Board of Directors
Focal Corporation


We have audited the accompanying consolidated balance sheet of Focal Corporation
and subsidiary as of June 30, 1994, and the consolidated statements of
operations, shareholders' equity and cash flows for the year 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 audit. The financial statements of Focal Corporation as of June 30, 1993
were audited by other auditors whose report dated August 2, 1993 on those
financial statements included an explanatory paragraph that described the going
concern issue and management's plan in Note 2(b) of those financial statements.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from 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 audit provides a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the consolidated financial position of Focal
Corporation as of June 30, 1994, and the results of its operations and cash
flows for the year then ended in conformity with generally accepted accounting
principles.

The accompanying consolidated financial statements have been prepared assuming
that the Company will continue as a going concern. As discussed in Note 5 to the
consolidated financial statements, the Company has no operations, and has
negative working capital and a stockholders' deficit at June 30, 1994. The
Company's ability to achieve the described elements of its management plan are
uncertain due to the lack of any identifiable sources of capital necessary to
meet the required fiscal demands. The Company's financial position and operating
results raise substantial doubt about its ability to continue as a going
concern. Management's plan in regard to these matters is also described in Note
5. The consolidated financial statements do not include any adjustments that
might result from the outcome of this uncertainty.


                                      F-4

<PAGE>

In addition, in our opinion, the financial statement schedules referred to
above, when considered in relation to the basic financial statements taken as a
whole, present fairly, in all material respects, the information required to be
included therein.


KELLY & COMPANY


/s/ Kelly & Company

Tustin, California
October 7, 1994

                                      F-5

<PAGE>
<TABLE>

                         INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                               (FORMERLY FOCAL CORPORATION)
                               (A DEVELOPMENT STAGE COMPANY)
                                       BALANCE SHEET
                                       JUNE 30, 2002

<CAPTION>

                                          ASSETS

<S>                                                                          <C>
CURRENT ASSETS
       Prepaid expenses                                                      $       570
       Deferred tax asset (Notes 2 and 5)                                             --
                                                                             ------------

                  Total Current Assets                                               570
                                                                             ------------

FIXED ASSETS (Notes 2 and 11),
  net of accumulated depreciation                                                  3,523
                                                                             ------------

                  Total Fixed Assets                                               3,523
                                                                             ------------

OTHER ASSETS
       Deposits                                                                    3,593
       Due from related party (Notes 2, 4, 7 and 16)                               5,610
       Interest receivable                                                        30,059
                                                                             ------------

                  Total Other Assets                                              39,262
                                                                             ------------

                  Total Assets                                               $    43,355
                                                                             ============

                      LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES
       Cash overdraft                                                        $        22
       Accounts payable (Note 9)                                                  90,513
       Accrued interest payable                                                  140,155
       Accrued income taxes                                                        1,350
       Loans payable - related party                                               2,500
       Convertible notes payable, current (Note 6)                               522,800
                                                                             ------------

                  Total Current Liabilities                                      757,340
                                                                             ------------

LONG-TERM DEBT
       Convertible notes payable, net of current                                  19,896
                                                                             ------------

                  Total Liabilities                                              777,236
                                                                             ------------

COMMITMENTS AND CONTINGENCIES (Note 9)

SHAREHOLDERS' EQUITY (DEFICIT)
       Preferred stock; 100,000,000 shre authorized, no shares
         outstanding, no par value
       Common stock; 100,000,000 shares authorized, 40,112,090
         shares issued and outstanding, $.10 par value (Notes 1 and 13)        4,011,210
       Additional paid in capital                                              3,065,431
       Receivable from sale of stock (Notes 1 and 13)                           (300,000)
       Deficit accumulated before the development stage                       (1,739,945)
       Deficit accumulated during the development stage                       (5,770,577)
                                                                             ------------

                  Total Shareholders' Equity (Deficit)                          (733,881)
                                                                             ------------

                  Total Liabilities and Shareholders' Equity (Deficit)       $    43,355
                                                                             ============
</TABLE>

                      See Accompanying Notes to Financial Statements

                                           F-6

<PAGE>
<TABLE>

                                   INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                         (FORMERLY FOCAL CORPORATION)
                                         (A DEVELOPMENT STAGE COMPANY)
                                           STATEMENTS OF OPERATIONS
<CAPTION>

                                                                For the Years Ended           From Inception
                                                                     June 30,                 of Development
                                                          -------------------------------          Stage
                                                                                              (July 1, 1993) to
                                                              2002               2001           June 30, 2002
                                                          -------------      -------------      -------------
<S>                                                       <C>                <C>                <C>
NET REVENUES FROM SALE OF LAND                             $         --       $     81,256       $     81,256
                                                          -------------      -------------      -------------

OPERATING EXPENSES
       Interest                                                130,197            281,825            684,309
       Consulting, management and outside services             911,516            849,633          2,081,166
       Officers salary                                              --            201,500            946,500
       Professional fees                                       143,807            163,991            346,501
       Other                                                   213,002             32,124          2,132,024
                                                          -------------      -------------      -------------

                  Total Operating Expenses                   1,398,522          1,529,073          6,190,500
                                                          -------------      -------------      -------------

(LOSS) FROM OPERATIONS                                      (1,398,522)        (1,447,817)        (6,109,244)

OTHER INCOME (LOSS)
       Interest income                                          27,000              3,059             30,059
       Loss on impairment of land (Notes 2 and 4)                   --           (110,000)          (277,356)
       Relief of debt                                               --                 --            213,843
       Gain on transfer of assets (Note 4)                     381,161                 --            381,161
                                                          -------------      -------------      -------------

                  (Loss) Before Income Taxes                  (990,361)        (1,554,758)        (5,761,537)

PROVISION FOR INCOME TAXES (Note 14)                            (1,240)              (900)            (9,040)
                                                          -------------      -------------      -------------

                  Net (Loss)                              $   (991,601)      $ (1,555,658)      $ (5,770,577)
                                                          =============      =============      =============

                  (Loss) per common share and common
                    share equivalent (Note 15)            $      (0.03)      $      (0.15)
                                                          =============      =============

                  Weighted average common shares
                    outstanding                             37,731,295         10,106,763
                                                          =============      =============
</TABLE>

                                See Accompanying Notes to Financial Statements

                                                     F-7

<PAGE>
<TABLE>

                                        INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                              (FORMERLY FOCAL CORPORATION)
                                              (A DEVELOPMENT STAGE COMPANY)
                                      STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
                                  FROM INCEPTION OF DEVELOPMENT STAGE TO JUNE 30, 2002
<CAPTION>

                          Common Stock        Preferred Stock                              Accumulated     Accumulated     Total
                    ------------------------ ------------------ Additional    Receivable Deficit Before Deficit During Stockholders'
                                                                  Paid-in     from Sale    Development    Development     Equity
                      Shares      Amount     Shares   Amount      Capital     of Stock        Stage          Stage       (Deficit)
                    ----------- ------------ ------- ---------- ------------  ---------  ---------------- ------------ -------------
<S>                  <C>          <C>             <C><C>        <C>           <C>           <C>           <C>          <C>
July 1, 1993 -
  Balance at
  beginning of
  development stage  1,526,396    $ 152,640       -  $       -  $ 1,576,181   $      -      $ (1,739,945) $         -  $  1,515,272

     Stock issued
       for services    349,960       34,996       -          -       21,484          -                 -            -       406,440

     Sale of stock     414,120       41,412       -          -      165,648          -                 -            -       621,180

     Net (Loss)              -            -       -          -            -          -                 -     (473,122)     (473,122)
                    ----------- ------------ ------- ---------- ------------  ---------  ---------------- ------------ -------------

Balance at
  June 30, 1994      2,290,476      229,048       -          -    1,763,313          -        (1,739,945)    (473,122)     (220,706)

     Stock issued
       for services    114,800       11,480       -          -       45,920          -                 -            -        57,400

     Stock issued to
       officer in lieu
       of salary       200,000       20,000       -          -       80,000          -                 -            -       100,000

     Sale of stock      75,400        7,540       -          -       30,160          -                 -            -        37,700

     Stock issued for
       payment of note  10,000        1,000       -          -        4,000          -                 -            -         5,000

     Net (Loss)              -            -       -          -            -          -                 -     (512,625)     (512,625)
                    ----------- ------------ ------- ---------- ------------  ---------  ---------------- ------------ -------------

Balance at
  June 30, 1995      2,690,676      269,068       -          -    1,923,393          -        (1,739,945)    (985,747)     (533,231)

     Net (Loss)              -            -       -          -            -          -                 -     (268,936)     (268,936)
                    ----------- ------------ ------- ---------- ------------  ---------  ---------------- ------------ -------------

Balance at
  June 30, 1995      2,690,676      269,068       -          -    1,923,393          -        (1,739,945)  (1,254,683)     (802,167)

                                     See Accompanying Notes to Financial Statements

                                                          F-8


<PAGE>

                                        INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                              (FORMERLY FOCAL CORPORATION)
                                              (A DEVELOPMENT STAGE COMPANY)
                                      STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
                            FROM INCEPTION OF DEVELOPMENT STAGE TO JUNE 30, 2002 (CONTINUED)

                          Common Stock        Preferred Stock                              Accumulated     Accumulated     Total
                    ------------------------ ------------------ Additional    Receivable Deficit Before Deficit During Stockholders'
                                                                  Paid-in     from Sale    Development    Development     Equity
                      Shares      Amount     Shares   Amount      Capital     of Stock        Stage          Stage       (Deficit)
                    ----------- ------------ ------- ---------- ------------  ---------  ---------------- ------------ -------------

     Stock issued for
       services         409,900 $    40,990       -  $       -  $    163,960  $       -  $           -    $         -  $    204,950

     Stock issued to
       officer in lieu
       of salary        240,000      24,000       -          -        96,000          -              -              -       120,000

     Net (Loss)               -           -       -          -             -          -              -       (500,303)     (500,303)
                    ------------ ------------ ------- ---------- ------------- ----------- -------------- -------------- -----------

Balance at
  June 30, 1997       3,340,576     334,058       -          -     2,183,353          -     (1,739,945)    (1,754,986)     (977,520)

     Retirement of
       common stock     (31,339)     (3,134)      -          -         3,134          -              -              -             -

     Stock issued
       for services       4,600         460       -          -         1,840          -              -              -         2,300

     Stock issued to
       officer in lieu of
       salary           240,000      24,000       -          -        96,000          -              -              -       120,000

     Stock issued for
       payment of notes
       and advances     123,000      12,300       -          -        49,200          -              -              -        61,500

     Net (Loss)               -           -       -          -             -          -              -       (301,586)     (301,586)
                    ------------ ------------ ------- ---------- ------------- ----------- -------------- -------------- -----------

Balance at
  June 30, 1998       3,676,837     367,684       -          -     2,333,527          -     (1,739,945)    (2,056,572)   (1,095,306)

     Stock issued to
       officer in lieu
       of salary        180,000      18,000       -          -        72,000          -              -              -        90,000

     Sale of stock       25,000       2,500       -          -        22,500          -              -              -        25,000

     Stock issued for
       payment of
       accrued wages    360,000      36,000       -          -       144,000          -              -              -       180,000

     Stock issued for
       services         102,000      10,200       -          -        40,800          -              -              -        51,000

                                     See Accompanying Notes to Financial Statements

                                                          F-9

<PAGE>

                                        INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                              (FORMERLY FOCAL CORPORATION)
                                              (A DEVELOPMENT STAGE COMPANY)
                                      STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
                            FROM INCEPTION OF DEVELOPMENT STAGE TO JUNE 30, 2002 (CONTINUED)

                          Common Stock        Preferred Stock                              Accumulated     Accumulated     Total
                    ------------------------ ------------------ Additional    Receivable Deficit Before Deficit During Stockholders'
                                                                  Paid-in     from Sale    Development    Development     Equity
                      Shares      Amount     Shares   Amount      Capital     of Stock        Stage          Stage       (Deficit)
                    ----------- ------------ ------- ---------- ------------  ---------  ---------------- ------------ -------------
Balance at
  June 30, 1999       4,343,837 $   434,384       -  $     -    $ 2,612,827   $       -  $  (1,739,945)   $(2,503,550) $ (1,196,284)

    Stock issued
      to purchase
      land            1,170,266     117,026       -        -       (117,026)          -              -             -              -

    Stock issued
      for broker fees    87,946       8,795       -        -         (8,795)          -              -             -              -

    Stock issued upon
      conversion of
      notes payable      24,000       2,400       -        -          9,600           -              -             -         12,000

   Stock issued for
      payment of
      accrued salaries
      and director fees 829,916      82,992       -        -        183,200           -              -             -        266,192

    Stock issued for
      other services      1,415         141       -        -            565           -              -             -            706

    Stock issued for
      charitable
      contribution      180,000      18,000       -        -        (18,000)          -              -             -              -

      Net (Loss)              -           -       -        -              -           -              -       (719,768)     (719,768)
                    ----------- ------------ ------- ---------- ------------  ---------  ---------------- ------------ -------------

Balance at
  June 30, 2000       6,637,380     663,738       -        -      2,662,371           -     (1,739,945)    (3,223,318)   (1,637,154)

    Retirement of
      common stock
      held in escrow
      for purchase of
      land - prior year (16,594)     (1,659)      -        -          1,659           -              -             -              -

    Sale of stock
      (Note 13)      20,207,792   2,020,779       -        -     (1,686,779)   (300,000)             -             -         34,000

    Stock issued to
      purchase land
      (Note 16)          66,831       6,683       -        -         (6,683)          -              -             -              -

                                     See Accompanying Notes to Financial Statements

                                                          F-10

<PAGE>

                                        INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                              (FORMERLY FOCAL CORPORATION)
                                              (A DEVELOPMENT STAGE COMPANY)
                                      STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
                            FROM INCEPTION OF DEVELOPMENT STAGE TO JUNE 30, 2002 (CONTINUED)

                          Common Stock        Preferred Stock                            Accumulated     Accumulated       Total
                    ------------------------ ------------------ Additional   Receivable Deficit Before Deficit During  Stockholders'
                                                                  Paid-in    from Sale    Development    Development      Equity
                      Shares       Amount     Shares   Amount     Capital    of Stock        Stage          Stage        (Deficit)
                 -------------- ------------- ------- --------- -----------  ------------ -------------- -------------- ------------

  Stock issued to
    officer and
    outside
    consultants in
    lieu of salaries
    and fees
    (Note 13)        1,465,000  $    146,500       -  $      -  $   586,000  $         -  $           -  $           -  $   732,500

  Stock issued upon
    conversion of
    notes payable
    (Note 13)          145,522        14,552       -         -       58,209            -              -              -       72,761

  Stock issued to
    officer and
    outside
    consultants for
    buy-out
    agreements
    (Note 13)        2,250,001       225,000       -         -       45,000            -              -              -      270,000

  Stock issued for
    payment of prior
    year accrued
    services and
    salaries           412,634        41,264       -         -       73,970            -              -              -      115,234

    Net (Loss)               -             -       -         -            -            -              -     (1,555,658)  (1,555,658)
                 -------------- ------------- ------- --------- -----------  ------------ -------------- -------------- ------------

Balance at
  June 30, 2001     31,168,566     3,116,857       -         -    1,733,747     (300,000)    (1,739,945)    (4,778,976)  (1,968,317)

                                     See Accompanying Notes to Financial Statements

                                                          F-11

<PAGE>

                                        INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                              (FORMERLY FOCAL CORPORATION)
                                              (A DEVELOPMENT STAGE COMPANY)
                                      STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT)
                            FROM INCEPTION OF DEVELOPMENT STAGE TO JUNE 30, 2002 (CONTINUED)

                          Common Stock        Preferred Stock                              Accumulated     Accumulated     Total
                    ------------------------ ------------------ Additional    Receivable Deficit Before Deficit During Stockholders'
                                                                  Paid-in     from Sale    Development    Development     Equity
                      Shares      Amount     Shares   Amount      Capital     of Stock        Stage          Stage       (Deficit)
                  ------------ ------------- ------  -------- ------------- ------------ -------------- ------------- --------------

     Stock issued
       to Company
       Officer to
       adjust
       purchase of
       controlling
       interest     1,000,000  $    100,000      -   $     -  $   (100,000) $         -  $           -  $          -  $           -

     Stock issued
       for conversion
       of notes
       payable and
       interest       663,408        66,341      -         -       265,363            -              -             -        331,704

     Exercise of
       warrants for
       services
       (Note 12)      500,000        50,000      -         -       (50,000)           -              -             -              -

     Sale of stock
       for cash     3,124,240       312,424      -         -       402,524            -              -             -        714,948

     Stock issued
       for relief of
       accounts
       payable        138,850        13,885      -         -        25,797            -              -             -         39,682

     Stock issued
       for services
       and
       bonuses      3,017,026       301,703      -         -       338,000            -              -             -        639,703

     Stock issued
       for land       500,000        50,000      -         -       450,000            -              -             -        500,000

       Net (Loss)           -             -      -         -             -            -              -      (991,601)      (991,601)
                  ------------ ------------- ------  -------- ------------- ------------ -------------- ------------- --------------

Balance at
  June 30, 2002    40,112,090  $  4,011,210      -   $     -  $  3,065,431  $  (300,000) $  (1,739,945) $ (5,770,577) $    (733,881)
                  ============ ============= ======  ======== ============= ============ ============== ============= ==============

                                     See Accompanying Notes to Financial Statements

                                                          F-12
</TABLE>

<PAGE>
<TABLE>

                                   INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                         (FORMERLY FOCAL CORPORATION)
                                         (A DEVELOPMENT STAGE COMPANY)
                                           STATEMENTS OF CASH FLOWS
<CAPTION>

                                                                For the Years Ended        From Inception
                                                                      June 30,             of Development
                                                            ----------------------------        Stage
                                                                                           (July 1, 1993) to
                                                               2002             2001         June 30, 2002
                                                            -----------      -----------      -----------
<S>                                                           <C>            <C>              <C>
CASH FLOWS PROVIDED (USED) BY
  OPERATING ACTIVITIES:
       Net (loss)                                             (991,601)      (1,555,658)      (5,770,577)
       Adjustments to reconcile net (loss) to net
         cash provided (used) by operating activities:
           Loss on impairment of land or assets                     --          110,000          277,356
           Depreciation                                          1,034              318            1,352
           Non-cash compensation and promotion                      --               --           83,960
           Net transfer of assets and liabilities to
             Superior Development Corp.                       (381,161)              --         (381,161)
           Services paid by issuance of stock                  639,703        1,002,500        2,492,177
           Operating expenses paid by reduction of
             loan commitment fee                                    --               --           30,000
           (Increase) in interest receivable                   (27,000)          (3,059)         (30,059)
           (Increase) decrease in prepaid expenses              23,651          (24,221)            (570)
           Increase in accounts payable and accrued
             expenses                                           24,767          234,237        1,239,520
           Increase (decrease) in accrued interest
             payable                                           (27,116)          91,293          176,459
           Increase (decrease) in property taxes and
             utility assessments                                    --           (1,590)          56,634
           (Increase) decrease in refundable deposits            3,521           (6,114)           6,407
                                                            -----------      -----------      -----------

                  Net Cash Flows (Used) by
                    Operating Activities                      (734,202)        (152,294)      (1,818,502)
                                                            -----------      -----------      -----------

CASH FLOWS PROVIDED (USED) BY
  INVESTING ACTIVITIES:
       Refundable loan commitment fee                               --               --          (30,000)
       Purchase of land                                             --           (4,620)          (4,620)
       Purchase of equipment                                    (4,660)          (7,369)         (12,029)
       Capitalized land development costs                           --         (146,876)        (181,877)
       Advances to related parties                              (5,610)              --           (5,610)
                                                            -----------      -----------      -----------

                  Net Cash Flows (Used) by
                    Investing Activities                       (10,270)        (158,865)        (234,136)
                                                            -----------      -----------      -----------

CASH FLOWS PROVIDED (USED) BY
  FINANCING ACTIVITIES:
       Proceeds from issuance of notes payable                 275,000          114,750        1,010,857
       Proceeds from issuance of common stock,
          paid directly to UNDC                               (250,591)              --         (250,591)
       Stock proceeds                                          714,948           34,000        1,108,158
       (Decrease) in notes payable                              (1,000)         (11,000)         (17,000)
       Proceeds from mortgage                                       --          178,750          178,750
       Increase from related parties                                --               --           22,442
                                                            -----------      -----------      -----------

                  Net Cash Flows Provided by
                    Financing Activities                       738,357          316,500        2,052,616
                                                            -----------      -----------      -----------
</TABLE>

                                See Accompanying Notes to Financial Statements

                                                     F-13

<PAGE>
<TABLE>

                                   INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                                         (FORMERLY FOCAL CORPORATION)
                                         (A DEVELOPMENT STAGE COMPANY)
                                     STATEMENTS OF CASH FLOWS (CONTINUED)
<CAPTION>

                                                                  For the Years Ended    From Inception
                                                                        June 30,         of Development
                                                               -------------------------      Stage
                                                                                        (July 1, 1993) to
                                                                  2002           2001      June 30, 2002
                                                               ----------     ----------     ----------
<S>                                                            <C>            <C>            <C>
NET INCREASE (DECREASE) IN CASH                                   (6,115)         5,341            (22)

CASH AT THE BEGINNING OF THE PERIOD                                6,093            752             --
                                                               ----------     ----------     ----------

CASH (OVERDRAFT) AT THE END OF
  THE PERIOD                                                   $     (22)     $   6,093      $     (22)
                                                               ==========     ==========     ==========

ADDITIONAL DISCLOSURES:
       Cash paid during the period for:
         Interest                                              $ 132,955      $  49,231      $ 267,988
                                                               ==========     ==========     ==========

         Income taxes                                          $      --      $     900      $   7,073
                                                               ==========     ==========     ==========

NON-CASH INVESTING AND FINANCING
  TRANSACTIONS:
       Common stock issued in connection with
         conversion of notes and interest payable
         to common stock                                       $ 331,704      $  72,761      $ 493,965
                                                               ==========     ==========     ==========

       Assumption of debt in connection with the
         acquisition of land held for development              $      --      $      --      $ 873,000
                                                               ==========     ==========     ==========

       Receivable from Sale of Stock                           $      --      $ 300,000      $ 300,000
                                                               ==========     ==========     ==========

       Common stock issued in connection with
         payment of prior years payable and accruals           $  39,682      $ 115,234      $ 154,916
                                                               ==========     ==========     ==========

       Land acquired for common stock                          $ 500,000      $      --      $ 500,000
                                                               ==========     ==========     ==========

       Officer loans forgiven in connection with transfer
         to Superior Development Corporation                   $  65,500      $      --      $  65,500
                                                               ==========     ==========     ==========
</TABLE>

                                See Accompanying Notes to Financial Statements

                                                     F-14

<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 1 - NATURE OF OPERATIONS

Focal Corporation (the "Company") was incorporated in the State of Utah in 1980
as Petro-Funding. Focal Corporation was involved in other businesses prior to
July 1, 1993. The Company then changed the focus of its business on July 1, 1993
to the acquisition, development and management of commercial real estate,
primarily shopping centers. During the year ended June 30, 2000, the Company
acquired approximately 120 acres of undeveloped land in Rosamond, California
(the "Rosamond Property"), a community in the Mohave Desert approximately 100
miles northeast of Los Angeles. The Rosamond Property was acquired with the
issuance of common stock and the assumption of liens and other encumbrances
secured by such property.

On May 15, 2001, the Company entered into an Amended and Restated Stock Purchase
Agreement with United Native Depository Corporation ("UNDC"). Pursuant to the
Agreement, the Company issued 20,183,792 shares of its Common Stock to UNDC in
exchange for the following considerations: (i) cash payment of $10,000; (ii)
execution of a promissory note in the amount of $300,000; and (iii) the
execution of a Management and Development Agreement, pursuant to which the
Company will receive as compensation, 25% of the net profits of a power plant
facility for 7 years beginning from the commencement date of operations
scheduled for September 2001. Upon the closing of the transaction the existing
management of Focal resigned and a new management was appointed, consisting of
representatives of UNDC.

UNDC, a majority shareholder of the Company, is a Native American company. UNDC
is a financial holding corporation organized under the laws of the jurisdiction
of the Navajo Nation. UNDC is 100% owned by Native American members.

The agreement whereby UNDC acquired controlling interest in the Company required
that the real estate properties and related debt stated above be transferred to
a new company called Superior Development Corporation. The major shareholder of
Superior Development Corporation is Howard Palmer, former shareholder and former
president of Focal Corporation. (See Note 4.)

On May 13, 2002, the Company changed its name to Indigenous Global Development
Corporation (IGDC).

Indigenous Global Development Corporation, the new name for the Company, is now
a Native American majority owned public corporation incorporated in the State of
Utah. The majority of shares are owned by UNDC, a Navajo Nation Corporation.
This ownership is the first majority owned public company by an American Indian
entity within the United States. The objective of this company is to enter the
commercial marketplace and attract capital for the development of Native
American economic initiatives. The primary objective of this company is the
development of energy merchant power plants. A secondary objective is the
redevelopment of urban properties.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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 prior year financial statements
to be consistent with the 2002 presentation.

                                      F-15

<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Revenue Recognition

In December 1999, the Securities and Exchange Commission issued Staff Accounting
Bulletin ("SAB") No. 101, "Revenue Recognition in Financial Statements". SAB No.
101 summarizes certain areas of the Staff's views in applying generally accepted
accounting principles to revenue recognition in financial statements. Through
June 30, 2002, the Company has not had any significant revenue.

Fair Value of Financial Instruments

Statement of Financial Accounting Standards (SFAS) No. 107, "Disclosures about
Fair Value of Financial Instruments" requires all entities to disclose the fair
value of financial instruments, both assets and liabilities recognized and not
recognized on the balance sheet, for which it is practicable to estimate fair
value. This statement defines fair value of a financial instrument as the amount
at which the instrument could be exchanged in a current transaction between
willing parties. As of June 30, 2002, the fair value of all financial
instruments approximated carrying value.

The carrying amounts of accounts payable and accrued expenses are reasonable
estimates of their fair value because of the short maturity of these items. The
Company believes the carrying amounts of its related party debt and subordinated
promissory notes approximate fair value because the interest rates on these
instruments approximate market interest rates currently available to the
Company.

Cash and Cash Equivalents

For purposes of the statement of cash flows, the Company considers cash and cash
equivalents to include cash on hand, bank balances and short-term investments
with a maturity of three months or less.

Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation
and amortization. Depreciation and amortization are computed principally using
the straight-line method over the estimated useful lives of the assets (or lease
term, if shorter), which range from three to eight years.

Maintenance and repairs are expensed as incurred while renewals and betterments
are capitalized.

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax
consequences attributable to differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax
bases. Deferred tax assets, including tax loss and credit carryforwards, and
liabilities are measured using enacted tax rates expected to apply to taxable
income in the years in which those temporary differences are expected to be
recovered or settled. The effect on deferred tax assets and liabilities of a
change in tax rates is recognized in income in the period that includes the
enactment date. Deferred income tax expense represents the change during the
period in the deferred tax assets and deferred tax liabilities. The components
of the deferred tax assets and liabilities are individually classified as
current and non-current based on their characteristics. Deferred tax assets are
reduced by a valuation allowance when, in the opinion of management, it is more
likely than not that some portion or all of the deferred tax assets will not be
realized.

                                      F-16

<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Stock-Based Compensation

As of June 30, 2002, the Company does not have any stock based compensation
plans. Common stock issued for compensation or other services rendered are due
to lack of cash to pay for services. The stock is issued at the discretion and
approval of the Board of Directors of the Company.

Common stock and other equity instruments issued to any recipient for
compensation or other services rendered are accounted for using the fair value
method. Such method is based on the estimated fair value of (a) the services
received or (b) the equity instrument issued, whichever is more reliably
measurable. The estimated fair value of the warrants described in Note 6
("Convertible Notes Payable") is shown in Note 12.

Long-Lived Assets

The Company reviews the carrying amount of its long-lived assets and
identifiable intangible assets for possible impairment whenever events or
changes in circumstances indicate that the carrying amount of the assets may not
be recoverable. Recoverability of assets to be held and used is measured by a
comparison of the carrying amount of an asset to future undiscounted net cash
flows expected to be generated by the asset. If such assets are considered to be
impaired, the impairment to be recognized is measured by the amount by which the
carrying amount of the assets exceeds the fair value of the assets. Assets to be
disposed of are reported at the lower of the carrying amount or fair value less
costs to sell. For the year ended June 30, 2001, the Company determined that
special assessment costs that are normally capitalized as part of the property
costs should be written off.

Loss Per Share

In accordance with SFAS No. 128, "Earnings Per Share", basic loss per share is
computed by dividing the loss attributable to common stockholders by the
weighted average number of common shares outstanding during the period. Diluted
loss per share reflects the amount that would have resulted if certain dilutive
potential common stock had been issued. Because the Company has experienced
losses from inception, the convertible notes payable described in Note 6 are
antidilutive. Therefore, such notes do not impact the weighted average number of
common shares outstanding reported in the accompanying statement of operations
(see Note 15).

Development Stage Company

IGDC has not generated any significant revenue since June of 1993. Since July 1,
1993, the accompanying financial statements have been prepared using the
accounting formats prescribed for development stage companies.

NOTE 3 - UNCERTAINTY OF ABILITY TO CONTINUE AS A GOING CONCERN

The accompanying financial statements have been prepared assuming the Company
will continue as a going concern. The Company has experienced significant losses
of $991,601 and $1,555,658 for the years ended June 30, 2002 and 2001,
respectively, and $5,770,577 since inception of development stage. At June 30,
2002, current liabilities exceed current assets by approximately $756,770. The
Company is dependent upon funds from investors and/or lenders to finance its
cash requirements.

                                      F-17

<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 4 - TRANSFER OF CERTAIN ASSETS AND LIABILITIES

During the year and in conformance with the original merger/acquisition
agreement between UNDC, six properties previously owned by IGDC, were deeded out
of the company to Superior Development Corporation (See Note 1). The property
and related liens and encumbrances were transferred at net book value. The
approximate net book value at October 2, 2001, the date the transfer took place,
of the properties being transferred was a negative amount totaling $272,000.

On May 13, 2002, an Agreement entitled "Settlement Terms" was made between
Howard Palmer, Superior, IGDC, Deni Leonard, Chairman of IGDC and UNDC and UNDC
pursuant to which; (i) Howard Palmer transferred 1,134,000 shares of IGDC and
2,400,000 warrants of the Company to UNDC; (ii) the Company assigned to Superior
a lawsuit pertaining to real estate property previously transferred by the
Company to Superior; (iii) certain loans in the amount of $65,500 due to Howard
Palmer from the Company was forgiven by Howard Palmer; (iv) Superior agreed to
assume $602,120 of accounts payable that were on the books of the Company, the
parties to the Agreement executed mutual releases, and; (v) Howard Palmer and
Superior released any and all claim to any benefit from the Management and
Development contract.

Also on May 13, 2002, a shareholder of IGDC and an officer of Superior, Donald
Zink (Zink), entered into an agreement entitled "Settlement Agreement" with the
Company and UNDC pursuant to which Zink transferred to UNDC 1,150,000 shares of
the Company, retaining ownership of 571,000 shares and the assumption of
$602,120 assumed by Superior pursuant to the Settlement Terms Agreement above
referred to in the previous paragraph. The Parties also entered into mutual
releases.

NOTE 5 - DEFERRED TAXES

Deferred tax assets and liabilities are recorded based on the difference between
the financial statement and tax return bases of assets and liabilities. Deferred
tax assets and liabilities at the end of each period are determined using the
tax rate expected to be in effect when taxes on these accounts are expected to
be paid or recovered. Accordingly, the current period tax provision can be
affected by the enactment of new tax rates.

The net deferred tax amounts included in the accompanying balance sheet include
the following amounts of deferred tax assets and liabilities at June 30, 2002:

Deferred tax asset - non-current                             $ 1,291,400
Deferred tax liability - non-current                                   -
                                                             ------------

                                                               1,291,400
Valuation allowance                                           (1,291,400)
                                                             ------------

Net deferred tax asset - non-current                         $         -
                                                             ============

At June 30, 2002, the Company had a deferred tax asset of approximately
$1,291,400. The deferred tax asset results from ordinary loss carryforwards
available to reduce future taxable income. Since there is no reasonable
assurance that such asset will be realized in future years, the Company has
recorded a 100% valuation allowance against the deferred tax asset. The
valuation allowance decreased $626,000 from June 30, 2001 to June 30, 2002.

The income tax benefit for the year ended June 30, 2002 differs from the amount
that would result from applying the federal statutory rate to the pre-tax loss
because of state income tax at a rate of approximately 9%.

                                      F-18

<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 6 - CONVERTIBLE NOTES PAYABLE

During the year ended June 30, 2002, the Company issued $275,000 of unsecured
notes payable in exchange for cash with an option to convert such notes into
common stock. The Company paid off one note for $1,000. At June 30, 2002, the
Company has convertible notes payable outstanding, totaling $542,696. Such notes
require monthly payments of interest only at the rate of 12% per annum and
mature at various dates through December 31, 2003. All of the notes mature one
year after issuance. Approximately $268,800 of these notes payable matured prior
to June 30, 2002 and are in default. Interest payments are continuing to be paid
monthly.

Per the note agreement, the notes payable are convertible into Company common
stock at the note holder's option prior to maturity at the rate of one share for
each $.50 of principal amount. Upon conversion, such stock is issued with
warrants to purchase an equal number of shares of Company common stock over a
three-year period at graduated prices as follows: (a) within year one at $1 per
share; (b) between years one and two at $2 per share, and (c) thereafter at $3
per share. If not exercised, such warrants expire three years after issuance
(see Note 12).

During the year ended June 30, 2002, certain note holders exercised their option
to convert their notes (aggregating $295,400 in principal) to Company common
stock in accordance with the above terms. Accordingly, the Company issued
663,408 shares of common stock and an equal amount of warrants to purchase
shares of common stock of the Company to such note holders.

Interest expense relating to the above notes payable of $36,304 and $79,151 is
included in Operating Costs and Expenses as of June 30, 2002 and 2001,
respectively.

When the conversion feature is included in notes payable at the time of their
original issuance, no gain or loss is recognized when such notes are converted
into common stock.

NOTE 7 - DUE FROM RELATED PARTIES

The Company has the following amounts due at June 30, 2002:

    UNDC Community Foundation                                           $ 2,310
    Deni Leonard                                                          3,300
                                                                        --------

                                                                        $ 5,610
                                                                        ========

The balances due are unsecured and bear interest at 2.5%. Principal and interest
is due June 30, 2004.

Subsequent to the balance sheet date, the $3,300 due from Deni Leonard was
forgiven by the Board of Directors.

NOTE 8 - LOANS PAYABLE - RELATED PARTIES

Loans payable - related parties consisted of the following at June 30, 2002:

Loan payable - unsecured, non-interest loan payable to shareholder      $ 2,500
                                                                        --------

                                                                        $ 2,500
                                                                        ========

As of June 30, 2002, the above loan is in default.

NOTE 9 - COMMITMENTS AND CONTINGENCIES

Litigation

All prior litigation involving Focal Corporation has been transferred to
Superior Development Corporation. (See Note 4.)

                                      F-19


<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 9 - COMMITMENTS AND CONTINGENCIES (CONTINUED)

Rent

As of June 30, 2002, the Company relocated their offices to San Francisco,
California. They are sharing office space with United Native Depository
Corporation on a month-to-month basis. Rent expense was $24,660 and $6,295 for
the years ended June 30, 2002 and 2001, respectively.

SEC Filings

The Company's 10QSB's for the periods ended September 30, 2001, December 31,
2001 and March 31, 2002 were filed without having an auditor perform quarterly
reviews.

NOTE 10 - RELATED PARTY TRANSACTIONS

Issuance of Common Stock to Officers and Directors (See Note 13)

The Company paid various expenses for management fees, consulting and
reimbursement of other operating expenses during the year ended June 30, 2002 to
related parties. These related parties included officers of the Company and
UNDC, the majority shareholder. The amount paid was approximately $658,000 and
is included in the operating statement under consulting, management and outside
services.

NOTE 11 - PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

    Furniture and fixtures                                              $ 1,011
    Office equipment                                                      3,241
    Accumulated depreciation and amortization                              (729)
                                                                        --------

                                                                        $ 3,523
                                                                        ========

Depreciation for the years ended June 30, 2002 and 2001 was $1,034 and $318,
respectively.

NOTE 12 - WARRANTS TO PURCHASE COMMON STOCK

From 1993 through 1998, the Company issued warrants in connection with the
issuance of stock and the conversion of notes payable to purchase 1,684,832 of
the Company's common stock at the exercise price of $1, $2, and $3 per share for
each year that the warrants were outstanding, respectively. All warrants expire
three years from the date of grant. As of June 30, 2002, these warrants were
expired. The Board of Directors authorized to extend the expiration date of all
warrants to May 14, 2004. All warrants will have a new grant date of May 14,
2001. At the date of grant, the Company estimated the fair value of the warrants
to be $0.40 using the Black-Scholes Model with the following assumption: risk
free interest rate of 5.4%; a contractual life of one year; expected volatility
of 170%; and no dividends. During the current year 878,800 of these warrants to
the former president of the Company were cancelled.

For the fiscal year ended June 30, 2000, the Company issued warrants in
connection with the conversion of notes payable to purchase 24,000 shares of the
Company's common stock at the exercise price of $1, $2, and $3 per share for
each year that the warrants were outstanding, respectively. All warrants expire
three years from the date of grant. At the date of grant, the Company estimated
the fair value of the warrant to be $0.50 using the Black-Scholes Model with the
following assumption: risk free interest rate of 5.0%; a contractual life of one
year; expected volatility of 0%; and no dividends.

                                      F-20

<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 12 - WARRANTS TO PURCHASE COMMON STOCK (CONTINUED)

For the fiscal year ended June 30, 2001, the Company issued warrants on various
dates in connection with the conversion of notes payable to purchase 145,522
shares of the Company's common stock at the exercise price of $1, $2, and $3 per
share for each year that the warrants are outstanding, respectively (see Note
6). All warrants expire three years from the date of grant. At the date of
grant, the Company estimated the fair value of the warrant to be $1.30 using the
Black-Scholes Model with the following assumption: risk free interest rate of
5.4%; a contractual life of one year; expected volatility of 170%; and no
dividends.

During the current fiscal year the Company cancelled 1,521,200 previously issued
warrants issued to a former officer of the Company, and 850,000 warrants to a
former consultant.

An additional 500,000 previously issued warrants were exercised for shares of
common stock. No money was paid for these shares.

As of June 30, 2002, there were 775,554 warrants outstanding with the weighted
average exercise price of $1.00 per warrant.

NOTE 13 - SHAREHOLDERS' EQUITY

Restrictions on Dividends

Pursuant to state law, the Company may be restricted from paying dividends to
its holders of common stock as a result of its accumulated deficit as of June
30, 2002.

Issuance of Common Stock during the Fiscal Year

The fair market value of the Company's common stock varied during the year
between $0.12 per share to $1.30 per share. During the year ended June 30, 2002,
the Company issued common stock as follows:

1,000,000 shares of common stock were issued to the president and 98.8%
shareholder of United Native Depository Corporation (UNDC) pursuant to the
anti-dilution provisions of the Amended and Restated Stock Purchase Agreement
dated as of May 15, 2001, by and between Focal Corporation and UNDC, which
provisions were designed to ensure the 51% beneficial ownership of UNDC.

663,408 shares of stock were issued during the current fiscal year in
consideration for conversion of notes and related interest payable. (See Note
6.)

In consideration for the exercise price for the issuance of 500,000 shares, the
Company received a promissory note in the amount of $500,000. The Note was
subsequently terminated and cancelled pursuant to the terms of the Settlement
Agreement dated July 11, 2002, by and between Folsom Investment Trust, Lawrence
C. Gisner, Deni Leonard, UNDC and the Company.

3,124,240 shares were issued in consideration for cash at prices ranging from
$0.10 to $1.00.

138,850 shares of stock were issued in exchange for relief of a prior year
accounts payable.

The Company issued 3,017,026 shares of common stock in consideration for
consulting fees and various services rendered. The number of shares was based
upon the estimated market value and the agreed upon service value.

The Company issued 500,000 shares of common stock for land in Yucca Valley,
which was subsequently transferred to Superior Development Corporation. (See
Note 4.)

                                      F-21


<PAGE>

                    INDIGENOUS GLOBAL DEVELOPMENT CORPORATION
                          (FORMERLY FOCAL CORPORATION)
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                                  JUNE 30, 2002

NOTE 13 - SHAREHOLDERS' EQUITY (CONTINUED)

Receivable from Sale of Stock

In consideration of the issuance of 20,183,792 shares of the Company common
stock to United Native Depository Corporation, the Company received $10,000 cash
and a note receivable for $300,000. The note is unsecured and accrues interest
at 9% per annum. The entire balance of principal and accrued interest is due May
15, 2005. The note is reported as a reduction of shareholders' equity.

NOTE 14 - PROVISION FOR INCOME TAXES

The components of the (provision) benefit for income taxes are as follows:

                                                        2002           2001
                                                      --------       --------
         Current
               Federal                                $    --        $    --
               State                                   (1,240)          (900)
                                                      --------       --------

                                                      $(1,240)       $  (900)
                                                      ========       ========

As of June 30, 2002, for federal and state income tax purposes, the Company had
approximately $3,400,000 and $1,000,000, respectively, of ordinary loss
carryforwards available to reduce future taxable income. The federal net
operating loss expires through 2022, while the state of California has currently
suspended use of net operating losses.

NOTE 15 - NET LOSS PER SHARE

The following table illustrates the computation of basic and diluted loss per
share:

                                                        2002          2001
                                                    ------------  ------------

     Basic net income (loss)                        $  (991,601)  $(1,555,658)
                                                    ============  ============

     Weighted average common shares outstanding      37,731,295    10,106,763
                                                    ------------  ------------

     Basic net and dilutive (loss) per share        $     (0.03)  $     (0.15)
                                                    ============  ============

The computation of diluted loss per share excludes the effect of incremental
common shares attributable to the exercise of outstanding common stock warrants
and the potential conversion of notes payable because their effect was
antidilutive due to losses incurred by the Company during the periods presented.

NOTE 16 - DISCLOSURE OF MATERIAL ADJUSTMENTS

The following material adjustments were made during the fourth quarter:

     Management fee paid to a related party                            $ 392,365

     Income from relief of debt related to transfer of assets and
     liabilities to Superior Development Corporation                   $ 381,161

                                      F-22

<PAGE>

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

Fiscal year 2001
----------------

         (a) Previous Principal Independent Accountant. (i) The previous
principal independent accountant was Squar, Milner, Reehl & Williamson, LLP. The
previous accountant was dismissed on October 26, 2000. (ii) The audit report
issued by Squar, Milner, Reehl & Williamson, LLP was unqualified and modified as
to the ability of the company to continue as a going concern. (iii) The decision
to change accountants was recommended by the Company President and approved by
the Board of Directors. The President and the Treasurer believed the fees
charged were excessive. Although the prior independent accountants were not
located as near to the Company's office, the fee difference would make the
change a sound business decision. (iv) There were no disagreements with Squar,
Milner, Reehl & Williamson, LLP on any matter of accounting principle or
practices, financial disclosure, or auditing scope or procedure. (v) Pursuant to
Regulation S-B, Item 304 (a)(1)(iv)(B), Squar, Milner, Reehl & Williamson, LLP
advised the registrant that it may have inadvertently issued some convertible
notes payable totaling a maximum of $534,000 in violation of Security laws.
Counsel for the registrant is currently investigating this possibility. If such
violation has occurred, the note holders will have the ability to rescind such
transactions. The Company believes all such notes were properly issued in
accordance with an exemption from the Securities and Exchange Commission. The
Company has authorized the predecessor auditor to respond fully to any inquiries
by the successor auditor concerning this issue.

                                       12

<PAGE>

         (b) New Principal Independent Accountant. On October 26, 2000,
Caldwell, Becker, Dervin, Petrick & Co., L.L.P. was engaged by the registrant as
its new principal independent accountant to audit its financial statements. This
is the firm which had been the principal independent accountant prior to the
engagement of Squar, Milner, Reehl & Williamson, LLP.

Fiscal year 2000
----------------

         (a) Previous Principal Independent Accountant. (i)The previous
principal Independent Accountant was Caldwell, Becker, Dervin, Petrick & Co.,
L.L.P. The previous accountant was dismissed on May 2, 2000. (ii) The audit
report issued by Caldwell, Becker, Dervin, Petrick, & Co., L.L.P. included
elsewhere herein was unqualified and modified as to the ability of the Company
to continue as a going concern. (iii) The decision to change accountants was
recommended by the Company President and approved by the Board of Directors. The
President believed and the board concurred that it would be more advantageous to
have an accounting firm closer to the Company's offices in Orange County. The
previous Independent accountant was approximately a two hour drive from the
Company's office. (iv) There were no disagreements with Caldwell, Becker,
Dervin,Petrick, & Co., L.L.P. on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure.
(v)Caldwell, Becker, Dervin, Petrick, & Co., L.L.P. did not advise the
registrant of any reportable events as defined in Regulation S-B, Item
304(a)(1)(iv)(B).

         (b) New Principal Independent Accountant. On May 2, 2000, Squar,
Milner, Reehl & Williamson, LLP was engaged by the registrant as its new
principal independent accountant to audit its financial statements.

                                       13

<PAGE>

                                    PART III

ITEM 9.  DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
         COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

         The directors*, executive officers and significant personnel of the
Company and their ages are as follows:

         Name                       Age                   Position
         ----                       ---                   --------

     Deni Leonard                   54             Chairman of the Board and
                                                   Chief Executive Officer

     Koji Homma                     28             Director and Secretary

     Richard Marshall               60             Former Director and President

     Charles R. Shirley             36             Former Director

     ---------------
     *   The Company's Board of Directors have been operating with two vacancies
         and will continue to do so until suitable candidates can be identified
         and agree to join the Board.

         DENI LEONARD has been a Chairman of the Company's Board of Directors
and the Chief Executive Officer of the Company since May, 2001. Mr. Leonard has
over twenty-five years experience working with indigenous groups in Canada, the
United States, Mexico, Ecuador, Hawaii and other countries. He has also
consulted with over one hundred Tribal groups from Canada and the United States.
Mr. Leonard has also consulted with the U.S. Department of Interior and the U.S.
Department of Education and acted as an advisor to the White House on Consumer
Affairs. He also served as the Executive Director of the Oregon State Human
Rights Commission. Mr. Leonard is a CEO of DLA Financial, Inc., an American
Indian financial advisory company which develops financing structures for
Tribes. Mr. Leonard is also serving on the board of directors of International
Diplomacy Council (San Francisco), National Advisory Board, Community Education
(San Francisco), National Task Force, U.S. Department of Commerce, and other
entities. Mr. Leonard is a recipient of 1998 National Education Association
Human Rights Award. Mr. Leonard is a graduate of Harvard University's Kennedy
School of Government, the University of Oregon and San Bernardino Valley
College. Mr. Leonard is a sole shareholder of United Native Depository
Corporation, a majority shareholder of the Company.

         KOJI HOMMA has been a director and Secretary of the Company since
December, 2001. Mr. Homma was born in Japan and is a graduate of Golden Gate
University, San Francisco, California, having majored in Finance. He has worked
on data analysis about national Tribal economic conditions and the potential for
Tribal economic projects since he joined DLA Financial in the year 2000. He is
currently Financial Operating Officer of United Native Depository Corporation,
based in San Francisco. Through his experience, he is working on designing a
finance structure that creates debt service for Tribal economnic projects.

         CHARLES R. SHIRLEY has been a director of the Company from May, 2001
until June, 2002. Mr. Shirley has over 20 years experience in the legal and
business worlds. He is President of Cherokee Investments of Houston. Previously
he was with Salomon Smith Barney. He has experience in raising funds for the
broadcasting, gaming and environmental projects. He has held government
positions with the Department of Justice, Interior and Energy. Mr. Shirley
received an undergraduate degree from the University of Kansas (1985) and a law
degree from Washburn University (1988).

                                       14


<PAGE>

         All directors hold office until the next annual meeting of shareholders
of the Company and the election and qualification of their successors. Officers
are elected annually by, and serve at the discretion of, the Board of Directors.

         All directors are reimbursed for out-of-pocket expenses in connection
with attendance at Board of Directors' meetings. Messrs. Leonard, Homma and
Shirley, received 100,000 shares f the Company's common stock, each, for their
respective participation on the Company's Board of directors.

COMPLIANCE WITH BENEFICIAL OWNERSHIP REPORTING RULES

         Section 16(a) of the Securities Act of 1934, as amended ("Exchange
Act"), requires the Company's executive officers and directors, and persons who
beneficially own more than 10% of a registered class of the Company's Common
Stock to file initial reports of ownership and reports of changes in ownership
with the Securities and Exchange Commission ("Commission"). Such officers,
directors and shareholders are required by Commission regulations to furnish the
Company with copies of all such reports that they file.

         Based solely upon a review of copies of such reports furnished to the
Company during its fiscal year ended June 30, 2002 and thereafter, the Company
believes that, during the Company's 2002 fiscal year, not all Section 16(a)
filing requirements applicable to the Company's reporting persons were complied
with.

ITEM 10. EXECUTIVE COMPENSATION.

         Mr. Leonard received $106,500.00 in compensation during fiscal year
2002.

         Effective for fiscal years ended 1998 through 2002, Howard Palmer
entered into an employment agreement with the Company, pursuant to which Mr.
Palmer was entitled to base cash compensation of $180,000 per year, an increase
from his base cash compensation of $120,000 for fiscal year ending 1997. In
September 1997 Mr. Palmer agreed to accept 240,000 shares of Common Stock and
240,000 warrants to purchase Common Stock in lieu of his cash compensation for
1997. In the latter half of calendar year 1998, Mr. Palmer agreed to accept
360,000 shares of Common Stock and 360,000 warrants to purchase Common Stock in
lieu of his cash compensation for 1998. In January 1999 Mr. Palmer agreed to
accept 180,000 shares of Common Stock and 180,000 warrants to purchase Common
Stock in lieu of his cash compensation for the first half of fiscal year ended
June 30, 1999. In February 2000 Mr. Palmer agreed to accept 180,000 shares of
Common Stock and 180,000 warrants to purchase Common Stock in lieu of his cash
compensation for the latter half of fiscal year ended June 30, 1999. In May 2000
Mr. Palmer agreed to accept 360,000 shares of Common Stock and 360,000 warrants
to purchase Common Stock in satisfaction of his cash compensation for the year
ended June 30, 2000. The Company also maintains a reimbursement policy whereby
executive officers are reimbursed for actual expenses incurred in connection
with the management of the Company and its business. Services rendered by Mr.
Palmer for the year ended June 30, 2000, have been valued at $90,000, equating
to $.25 per common share received in lieu of cash compensation. Related warrants
were considered to have insignificant value.

         For services performed for the Company during fiscal years ended June
30, 2000 and 1999, the Company issued 148,000 shares of Common Stock to each of
Howard Palmer, Leroy Hardy and Gerald May (former officers). Of the 148,000
shares of Common Stock awarded to each of these persons, 100,000 shares were
issued as a bonus and 48,000 shares were issued for certain director fees which
had been accrued from the year ended June 30, 1999.

         In fiscal year 2001, the Company issued 366,667 shares of common stock
to Howard Palmer, the former president of the Company and 1,883,334 shares to
two former consultants of the Company in consideration for buying-out existing
employment and consulting agreements (see Note 13 to the Financial Statements).
The stock was valued at $0.12 per share based upon the approximate fair market
value of the stock on the date of issuance. The number of shares issued was
based upon the estimated value of the remaining agreements.

                                       15

<PAGE>

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

         The following table sets forth as of June 30, 2002, certain
information with respect to the beneficial ownership of the Company's Common
Stock held by each director and officer and by all directors and officers as a
group, as well as the identity of each person known to the Company to be the
beneficial owner of more than 5% of the Company's Common Stock and the
respective beneficial ownerships of those persons.

<TABLE>
<CAPTION>
------------------- ------------------------------------ -------------------------- -------------------------
                           Name and Address                 Security Ownership             Percentage (3)
     Title of                     Of                         Amount and Nature                 Of
      Class                Beneficial Owners              Of Beneficial Ownership (2)        Class
------------------- ------------------------------------ -------------------------- -------------------------
<S>                 <C>                                         <C>                           <C>
      Common        United Native Depository
                    Corporation (4)                               Direct
                    433 California Street                       20,183,792                     50.32%
                    11th Floor
                    San Francisco, CA 92801
------------------- ------------------------------------ -------------------------- -------------------------
      Common        Deni Leonard (1)
                    Chairman/CEO                                  Direct
                    433 California Street                       1,100,000                       2.74%
                    11th Floor
                    San Francisco, CA 92801
------------------- ------------------------------------ -------------------------- -------------------------
      Common        Richard Marshall (1)
                    Former Director                                Direct                        *
                    433 California Street                          200,000
                    11th Floor
                    San Francisco, CA 92801
------------------- ------------------------------------ -------------------------- -------------------------
      Common        Koji Homma (1)
                    Director                                      Direct
                    433 California Street                         130,000                        *
                    11th Floor
                    San Francisco, CA 92801
------------------- ------------------------------------ -------------------------- -------------------------
      Common        Charles Shirley (1)
                    Former Director                                Direct                        *
                    433 California Street                          100,000
                    11th Floor
                    San Francisco, CA 92801
------------------- ------------------------------------ -------------------------- -------------------------
                        Officers and Directors as a group
                    (2 persons)                                 21,413,792                   53.38%

------------------- ------------------------------------ -------------------------- -------------------------
</TABLE>

------------------
* less than one percent

         (1)      The address of each officer and director is 433 California
                  Street 11th Floor, San Francisco, CA 92801
         (2)      Based upon 40,112,090 shares of Common Stock outstanding as of
                  June 30, 2002. Except as otherwise indicated, the Company
                  believes that the beneficial owners of Common Stock listed
                  below, based on information furnished by such owners, have
                  sole investment and voting power with respect to such shares,
                  subject to community property laws where applicable.
                  Beneficial ownership is determined in accordance with the
                  rules of the Securities and Exchange Commission and generally
                  includes voting or investment power with respect to
                  securities. Shares of Common Stock subject to options or
                  warrants currently exercisable, or exercisable within 60 days,
                  are deemed outstanding for purposes of computing the
                  percentage of the person holding such options or warrants, but
                  are not deemed outstanding for purposes of computing the
                  percentage of any other person.
         (3)      All percentages have been calculated to exclude any warrants
                  and convertible securities which are immediately exercisable
                  or convertible into shares of Common Stock by the particular
                  shareholder.
         (4)      Mr. Deni Leonard is the 98.5% shareholder for UNDC, the
                  current Chairman of the Board of Directors and the CEO of the
                  Company.

                                       16

<PAGE>

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

         During the fiscal year ended June 30, 1997, Bell Financial, Inc., of
which the Company's secretary, Richard C. Shinn, is president, was issued
400,000 shares of Common Stock for financial consulting services. During the
fiscal year ended June 30, 1998, Bell Financial, Inc made an unsecured loan of
$32,975 to the Company.

         During the fiscal year ended June 30 1997, Howard Palmer was issued
240,000 shares of Common Stock and 240,000 warrants to purchase 240,000 shares
of Common Stock, exercisable on or prior to December 31, 1999 at prices ranging
from $1 to $3 per share, in lieu of his $120,000 salary for fiscal year ended
1996.

         During the fiscal year ended June 30 1998, Howard Palmer was issued
240,000 shares of Common Stock and 240,000 warrants to purchase 240,000 shares
of Common Stock, exercisable on or prior to December 31, 1999 at prices ranging
from $1 to $3 per share, in lieu of his $120,000 salary for fiscal year ended
1997.

         In connection with a cash advance to the Company during the fiscal year
ended 1998, the Company issued to Howard Palmer 8,000, 3,000 and 12,000 warrants
to purchase shares of Common Stock, exercisable at prices ranging from $1 to $3
per share, and expiring on November 23, 2000, March 24, 2001, and April 16,
2001, respectively.

         On August 31, 1998, Howard Palmer was issued 360,000 shares of Common
Stock and 360,000 warrants to purchase 360,000 shares of Common Stock,
exercisable on or prior to June 30, 2001 at prices ranging from $1 to $3 per
share, in lieu of his $180,000 salary for fiscal year ended June 30, 1998.

         On January 2, 1999, Howard Palmer was issued 180,000 shares of Common
Stock and 180,000 warrants to purchase 180,000 shares of Common Stock,
exercisable on or prior to June 30, 2001 at prices ranging from $1 to $3 per
share, in lieu of his $90,000 salary for the first half of the fiscal year ended
June 30, 1999.

         On September 20, 1999, Howard Palmer was issued 148,000 shares of
Common Stock, 100,000 shares of which were issued to Mr. Palmer as an annual
bonus for services performed during the fiscal year ended 2000, and 48,000
shares of which were issued to Mr. Palmer in lieu of paying accrued director's
fees owed to Mr. Palmer from the fiscal year ended 1999.

         On September 20, 1999, Leroy Hardy was issued 149,000 shares of Common
Stock, 100,000 shares of which were issued to Mr. Hardy as an annual bonus for
services performed during the fiscal year ended 2000, 48,000 shares of which
were issued to Mr. Hardy in lieu of paying accrued director's fees owed to Mr.
Hardy from fiscal year ended 1999, and 1,000 shares of which were issued to Mr.
Hardy in lieu of paying $500 of accrued business expenses owed to Mr. Hardy.

         On September 20, 1999, Gerald May was issued 168,000 shares of Common
Stock, 100,000 shares of which were issued to Mr. May as an annual bonus for
services performed during the fiscal year ended 2000, 48,000 shares of which
were issued to Mr. May in lieu of paying accrued director's fees owed to Mr. May
from fiscal year ended 1999, and 20,000 shares of which were issued to Mr. May
in lieu of paying $10,000 from fiscal year ended 1999 of accrued business
expenses owed to Mr. May.

                                       17

<PAGE>

         In fiscal year 2001, the Company had certain loans payable to the
related parties as provided in Note 8 to the Financial Statements.

         During the year ended June 30, 2001, the Company issued 807,867 shares
of common stock to a former officer for wages, accrued expenses and buy-out of
the officers' employment agreement. The Company recorded an expense for the year
ended June 30, 2001 of approximately $201,500 based on the estimated fair value
of the services rendered in connection with the issuance of such shares. In
addition, the Company issued 441,200 warrants to the former officer during the
year ended June 30, 2001 relating to services rendered in or prior to the
preceding fiscal year. Included in accrued expenses-related parties is $27,491
due to two former officers of the Company for past services rendered. See
Financial Statements.

         On January 5, 2001, the Company issued warrants in connection with the
issuance of the stock to Howard Palmer, the Company's former president, to
purchase 441,200 shares of the Company's common stock at the exercise price of
$1, $2, and $3 per share for each year that the warrants are outstanding,
respectively. All warrants expire three years from the date of grant.

         On April 27, 2001, the Company issued warrants with the issuance of
stock to two former consultants (see Note 12) to purchase 1,150,000 shares of
the Company's common stock at the exercise price of $1, $2, and $3 per share for
each year that the warrants are outstanding, respectively. All warrants expire
three years from the date of grant. At the date of grant.

         For the fiscal year ended June 30, 2001, the Company issued warrants on
various dates in connection with the conversion of notes payable to purchase
145,522 shares of the Company's common stock at the exercise price of $1, $2,
and $3 per share for each year that the warrants are outstanding, respectively
(see Note 12). All warrants expire three years from the date of grant.

         As of June 30, 2001, there were 4,525,554 warrants outstanding with the
weighted average exercise price of $1.36 per warrant. See the
Financial Statements.

         Subsequent to June 30, 2001 and in conformance with the original
merger/acquisition agreement between United Native Depository Corporation and
the Company, the six properties currently owned by the Company, are to be deeded
out of the company. They are to be transferred to a new corporation that is
owned 80% by Donald Zink, Lawrence Gisner, Deni Leonard and Howard Palmer, with
the remaining 20% being issued to the Company as consideration for the transfer
of the property. The property and related liens and encumbrances are being
transferred at estimated fair market value. The approximate net book value at
June 30, 2001, of the properties being transferred is a negative amount totaling
$272,000. The transfer took place October 2, 2001 (see the
Financial Statements). Deni Leonard is the Chairman and Chief Executive Officer
of the Company and a sole shareholder of the United Native Depository
Corporation, a majority shareholder of the Company.

         It is the Company's current policy that all transactions with officers,
directors, 5% stockholders and their affiliates be entered into only if they are
approved by a majority of the disinterested directors or are on terms no less
favorable to us than could be obtained from unaffiliated parties and are
reasonably expected to benefit the Company. Subsequent to the end of the current
fiscal year, on October 31, 2002, the Company forgave the repayment of
$447,975.39 note payable by UNDC, because of the debt owed the Company to UNDC
for expense advances, management and consulting fees incurred by UNDC in
connection with the spin-off of Superior Development Corp., including a loan to
Mr. Leonard of $3,300. See also Notes 7 and 10 to the Financial Statements.

                                       18

<PAGE>

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

         (a) Exhibits.
             ---------

         The following exhibits of the Company are included herein.

2.1      Amended and Restated Stock Purchase Agreement*

3.1      Articles of Incorporation of Focal Corporation, a Utah
         Corporation*

3.2      By-Laws of Focal Corporation*

10.1     Settlement Terms Agreement.

10.2     Settlement Agreement.

16.1     Letter on changes in certifying accountant*.

16.2     Letter on changes in certifying accountant*.

99.1     Certification Pursuant to 18 U.S.C. ss. 1350 of the Chief Executive
         Officer

----------
* Previously filed with the Commission.

         (b) Reports on Form 8-K
             -------------------

                  None
                                       19

<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15(d) 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 on February 12, 2003.

                                    Indigenous Global Development Corporation

                                By: /s/ Deni Leonard
                                    ------------------------------------
                                    Deni Leonard
                                    Chairman and Chief Executive Officer

         Pursuant to the requirements of the Securities Exchange Act of 1934,
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>
<S>                          <C>                                                <C>
/s/ Deni Leonard             Chairman and Chief Executive Officer               Date: 2/12/03
------------------------     (principal executive officer)
    Deni Leonard

/s/ Koji Homma               Director and Secretary                             Date: 2/12/03
------------------------
    Koji Homma
</TABLE>

                                       20