UNITED
STATES
 SECURITIES
AND EXCHANGE COMMISSION
 Washington
D. C. 20549
  
 FORM
10-Q
 
 x   QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
 
 For the
quarterly period ended March 31, 2009
 
 o   TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
 
 Commission
file number 000-52333
 
 Eco
Global Corporation
 (Exact
name of small business issuer as specified in its charter)
 
 Nevada
                (State
      or other jurisdiction of incorporation or organization)
              
              20-3955577
                (I.R.S.
      Employer Identification No.)
 
 123
Worthington Street, Suite 203
 Spring
Valley, California 91977
 (Address of principal
executive offices)
 
 (800)
743-1824
 (Issuer's
telephone number)
 
 Driver
Passport Inc.
 (Former
Name, former address and former fiscal year, if changed since last
report)
 
 
 Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports) and (2) has been subject to the filing
requirements for the past 90 days.  Yes  x  No o
 
 Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer,” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act.
 
 Large
accelerated filer o                                                                Accelerated
filero
 Non-accelerated
filer o                                                                  Smaller
reporting companyx
 
 Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12-b2 of the Exchange Act).   Yes o Nox
 
 The
number of shares of the registrant’s Common Stock, $0.001 par value per share,
outstanding as of May 15, 2009 is 33,622,000.
  1
 
 ECO
GLOBAL CORPORATION
 INDEX
 
 Page
      No.PART
      I.
              Financial
      InformationItem
      1.
              Financial
      Statements
              3Balance
      Sheets at March 31, 2009 (Unaudited) and December 31, 2008
              4Statements
      of Operations for the three Months Ended March 31, 2009 and 2008 and
      Cumulative Inception October 12, 2004 (Unaudited)
              5Statements
      of Cash Flows for the three Months Ended March 31, 2009 and 2008 and
      Cumulative Inception October 12,
      2004 (Unaudited)
              6Notes
      to Financial Statements (Unaudited)
              7Item
      2. Management’s Discussion and Analysis or Plan of
    Operation
              27Item
      3. Quantitative and Qualitative Disclosures About Market
    Risks
              29Item
      4T. Controls and Procedures
              29PART
      II.
              Other
      InformationItem
      1. Legal Proceedings
              30Item
      1A. Risk Factors
              30Item
      2. Unregistered Sales of Equity Securities and Use of
    Proceeds
              30Item
      3. Defaults Upon Senior Securities
              30Item
      4. Submission of Matters to a Vote of Security Holders
              30Item
      5. Other Information
              30Item
      6.  Exhibits
              29SIGNATURES
              31
  2
  PART
I—FINANCIAL INFORMATION
 
 FORWARD-LOOKING
STATEMENTS
 
 Certain
information included in this report and other Company filings (collectively,
“SEC filings”) under the Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended (as well as information communicated orally or
in writing between the dates of such SEC filings) contains or may contain
forward looking information that is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially from expected
results. Among these risks, trends and uncertainties are the Company’s ability
to raise capital, national and local economic conditions, the lack of an
established operating history for the Company’s current business activities,
conditions and trends in the building industries in general, changes in interest
rates, the effect of governmental regulation on the Company and other
factors described from time to time in our filings with the Securities and
Exchange Commission.
 
 ITEM
1. FINANCIAL STATEMENTS
 INDEX
TO FINANCIAL STATEMENTS (UNAUDITED)
  PageBalance
      Sheets as of March 31, 2009 (Unaudited) and December 31, 2008
      (Audited)
                4Statements
      of Operations for the Three Months Ended March 31, 2009 and 2008 and Since
      Inception (Unaudited)
                5Statements
      of Cash Flows for the Three Months Ended March 31, 2009 and 2008 and Since
      Inception (Unaudited)
                6Notes
      to Financial Statements (Unaudited)
                7
 
 3
  ECO
      GLOBAL CORPORATION(FORMERLY
      DRIVER PASSPORT INC.)(A
      DEVELOPMENT STAGE COMPANY)BALANCE
      SHEETSMARCH
      31, 2009 (UNAUDITED) AND DECEMBER 31, 2008ASSETSMARCH
      31,
                
                DECEMBER
      31,2009
                
                
                2008(UNAUDITED)Current
      Assets:Cash
      and cash equivalents
                
                $
                80
                
                
                $
                7,306Due
      from related company
                
                
                84,647
                
                
                
                80,018Total
      Current Assets
                
                
                84,727
                
                
                
                87,324Fixed
      assets, net of depreciation
                
                
                -
                
                
                
                -Other
      Assets:Capitalized
      interest
                
                
                3,103
                
                
                
                637Patent,
      net of amortization
                
                
                2,756,250
                
                
                
                2,800,000Total
      Other Assets
                
                
                2,759,353
                
                
                
                2,800,637TOTAL
      ASSETS
                
                $
                2,844,080
                
                
                $
                2,887,961LIABILITIES AND
      STOCKHOLDERS' (DEFICIT)LIABILITIESCurrent
      Liabilities:Current
      portion of notes payable and accrued interest
                
                $
                452,746
                
                
                $
                421,246Accounts
      payable and accrued expenses
                
                
                20,274
                
                
                
                19,110Total
      Current Liabilities
                
                
                473,020
                
                
                
                440,356Total
      Liabilities
                
                
                473,020
                
                
                
                440,356STOCKHOLDERS'
      (DEFICIT)Preferred
      stock, $.001 Par Value; 10,000,000 shares authorizedand
      0 shares issued and outstanding
                
                
                -
                
                
                
                -Common
      stock, $.001 Par Value; 250,000,000 shares authorized,33,622,000
      shares issued and outstanding
                
                
                33,622
                
                
                
                33,622Additional
      paid-in capital
                
                
                3,004,586
                
                
                
                3,004,586Deficits
      accumulated during the development stage
                
                
                (667,148
                )
                
                
                (590,603
                )Total
      Stockholders' (Deficit)
                
                
                2,371,060
                
                
                
                2,447,605TOTAL
      LIABILITIES AND STOCKHOLDERS' (DEFICIT)
                
                $
                2,844,080
                
                
                $
                2,887,961
   The accompanying notes are
an integral part of the financial statements.
  4
  ECO
      GLOBAL CORPORATION(FORMERLY
      DRIVER PASSPORT INC.)(A
      DEVELOPMENT STAGE COMPANY)STATEMENTS
      OF OPERATIONS (UNAUDITED)FOR
      THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008WITH
      CUMULATIVE TOTALS SINCE OCTOBER 12, 2004 (INCEPTION)CUMULATIVETHREE
      MONTHS ENDED
              
              
              INCEPTIONMARCH
      31,
              
              
              OCTOBER
      12,2009
              
              
              2008
              
              
              2004OPERATING
      REVENUESRevenues
              
              $
              -
              
              
              $
              -
              
              
              $
              -OPERATING
      EXPENSESGeneral
      and administrative expenses
              
              
              29,991
              
              
              
              7,658
              
              
              
              676,770Depreciation,
      amortization and impairment
              
              
              43,750
              
              
              
              548
              
              
              
              61,646Total
      Operating Expenses
              
              
              73,741
              
              
              
              8,206
              
              
              
              738,416LOSS
      BEFORE OTHER INCOME (EXPENSE)
              
              
              (73,741
              )
              
              
              (8,206
              )
              
              
              (738,416
              )OTHER
      INCOME (EXPENSE)Gain
      from cancellation of shares for fixed assets
              
              
              -
              
              
              
              -
              
              
              
              12,190Interest
      expense, net
              
              
              (2,804
              )
              
              
              (4,159
              )
              
              
              (45,603
              )Total
      Other Income (Expense)
              
              
              (2,804
              )
              
              
              (4,159
              )
              
              
              (33,413
              )NET
      LOSS BEFORE PROVISION FOR INCOME TAXES
              
              
              (76,545
              )
              
              
              (12,365
              )
              
              
              (771,829
              )Provision
      for Income Taxes
              
              
              -
              
              
              
              -
              
              
              
              -NET
      LOSS APPLICABLE TO COMMON SHARES
              
              $
              (76,545
              )
              
              $
              (12,365
              )
              
              $
              (771,829
              )NET
      LOSS PER BASIC AND DILUTED SHARES
              
              $
              (0.00
              )
              
              $
              (0.00
              )
              
              $
              (0.03
              )WEIGHTED
      AVERAGE NUMBER OF COMMONSHARES
      OUTSTANDING
              
              
              33,622,000
              
              
              
              29,847,000
              
              
              
              28,852,841
   The accompanying
notes are an integral part of the financial statements.
  5


ECO
      GLOBAL CORPORATION(FORMERLY
      DRIVER PASSPORT INC.)(A
      DEVELOPMENT STAGE COMPANY)STATEMENTS
      OF CASH FLOWS (UNAUDITED)FOR
      THE THREE MONTHS ENDED MARCH 31, 2009 AND 2008WITH
      CUMULATIVE TOTALS SINCE OCTOBER 12, 2004 (INCEPTION)CUMULATIVETHREE
      MONTHS ENDED
                  MARCH
      31,
              
              
              INCEPTION
                  OCTOBER
      12,2009
              
              
              2008
              
              
              2004CASH
      FLOWS FROM OPERATING ACTIVITIESNet
      loss
              
              $
              (76,545
              )
              
              $
              (12,365
              )
              
              $
              (771,829
              )Adjustments
      to reconcile net loss to net cashused
      in operating activities:Depreciation,
      amortization and impairment
              
              
              43,750
              
              
              
              548
              
              
              
              61,647Common
      stock issued or accrued for consulting services
              
              
              -
              
              
              
              -
              
              
              
              186,500Gain
      from cancellation of shares for fixed assets
              
              
              -
              
              
              
              -
              
              
              
              (12,190
              )Changes
      in assets and liabilities(Increase)
      in other assets
              
              
              (2,466
              )
              
              
              -
              
              
              
              (3,103
              )Increase
      (decrease) in accounts payable andand
      accrued expenses
              
              
              32,664
              
              
              
              (6,705
              )
              
              
              51,774Total
      adjustments
              
              
              73,948
              
              
              
              (6,157
              )
              
              
              284,628Net
      cash (used in) operating activities
              
              
              (2,597
              )
              
              
              (18,522
              )
              
              
              (487,201
              )CASH
      FLOWS FROM INVESTING ACTIVITIESAdvances
      to related company
              
              
              (4,629
              )
              
              
              -
              
              
              
              (84,647
              )Acquisitions
      of fixed assets
              
              
              -
              
              
              
              -
              
              
              
              (7,282
              )Software
      development costs
              
              
              -
              
              
              
              -
              
              
              
              (15,000
              )Net
      cash (used in) investing activities
              
              
              (4,629
              )
              
              
              -
              
              
              
              (106,929
              )CASH
      FLOWS FROM FINANCING ACTIVITIESNet
      proceeds (payments) of notes payable
              
              
              -
              
              
              
              18,522
              
              
              
              421,246Shares
      issued for cash
              
              
              -
              
              
              
              -
              
              
              
              39,900Contributed
      capital
              
              
              -
              
              
              
              -
              
              
              
              2,883Increase
      (decrease) in bank overdraft
              
              
              -
              
              
              
              -
              
              
              
              -Member
      equity contributions
              
              
              -
              
              
              
              -
              
              
              
              130,181Net
      cash provided by financing activities
              
              
              -
              
              
              
              18,522
              
              
              
              594,210NET
      INCREASE (DECREASE) INCASH
      AND CASH EQUIVALENTS
              
              
              (7,226
              )
              
              
              -
              
              
              
              80CASH
      AND CASH EQUIVALENTS -BEGINNING
      OF PERIOD
              
              
              7,306
              
              
              
              -
              
              
              
              -CASH
      AND CASH EQUIVALENTS - END OF PERIOD
              
              $
              80
              
              
              $
              -
              
              
              $
              80CASH
      PAID DURING THE YEAR FOR:Interest
      expense
              
              $
              -
              
              
              $
              -
              
              
              $
              -NON-CASH
      INVESTING AND FINANCING ACTIVITIES:Patent
      acquired for shares of common stock
              
              $
              -
              
              
              $
              -
              
              
              $
              2,800,000


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




6


ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
  NOTE
1 -ORGANIZATION
AND BASIS OF PRESENTATION
 
 GENERAL
 
 The
unaudited financial statements included herein have been prepared, without
audit, pursuant to the rules and regulations of the Securities and Exchange
Commission (“SEC”).  The financial statements and notes are presented
as permitted on Form 10-Q and do not contain information included in the
Company’s annual statements and notes.  Certain information and
footnote disclosure normally included in financial statements prepared in
accordance with accounting principles generally accepted in the United States of
America have been condensed or omitted pursuant to such rules and regulations,
although the Company believes that the disclosures are adequate to make the
information presented not misleading.  It is suggested that these
financial statements be read in conjunction with the December 31, 2008 10-K and
audited financial statements and the accompanying notes
thereto.  While management believes the procedures followed in
preparing these financial statements are reasonable, the accuracy of the amounts
are in some respects dependent upon the facts that will exist, and procedures
that will be accomplished by the Company later in the year.
 
 These
unaudited financial statements reflect all adjustments, including normal
recurring adjustments which, in the opinion of management, are necessary to
present fairly the operations and cash flows for the periods
presented.
 
 Driver
Passport, Inc. (“Driver Passport”) was incorporated on December 7, 2005 to be
effective January 1, 2006 as a North Dakota corporation.
 
 On
January 1, 2006, Driver Passport issued 25,500,000 shares of its common stock in
exchange for 100% of the membership interest of Driver Passport, LLC, a North
Dakota limited liability company formed on October 12, 2004.
 
 On
January 2, 2006, Driver Passport, LLC was dissolved.
  7
 
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
1 - ORGANIZATION
AND BASIS OF PRESENTATION (CONTINUED)
 
 Driver
Passport is considered a development stage company and has presented numbers
since the inception of Driver Passport, LLC which was October 12, 2004. The
business combination that took place was essentially a reverse merger whereby
the operating company, Driver Passport, LLC was acquired by a shell company,
Driver Passport. Driver Passport has treated this as a purchase for accounting
purposes.
 
 Driver
Passport has recognized no revenue since inception. In July of 2007, Driver
Passport ceased marketing operations under its former business plan and has
since considered other business ventures and as a result, acquired a patent as
described below and will now conduct its new business. Driver Passport had
impaired the remaining $9,975 of software development costs that remained at
June 30, 2007 in the quarter ended September 20, 2007.
 
 On
September 12, 2008, Driver Passport and Incablock International, LLC. (“INCA”),
a California limited liability company, entered into a Letter of Intent (“LOI”)
for the Company to acquire a patent (as described in patent number US 7,305,803
B2) covering the use of the INCABLOCKTM Construction System (the
“Patent”).
 
 On
October 30, 2008, per the LOI, Driver Passport and INCA entered into and closed
an Assignment Agreement pursuant to which Inca transferred and assigned the
Patent to Driver Passport in consideration for an option to purchase 20,000,000
shares of common stock and 2% of the net sale price of all products manufactured
by the Company using the technology in the Patent and then sold or disposed
of.
 
 In
addition, on October 30, 2008, Driver Passport and Randy Brown, an executive
officer, director and shareholder of Driver Passport, entered into and closed an
Agreement and Release whereby Mr. Brown agreed to return 16,575,000 shares of
common stock of Driver Passport to Driver Passport in consideration for the sale
of all of the assets of Driver Passport relating to the driver security program.
Further, except for the Promissory Note in the principal amount of approximately
$319,000, Mr. Brown agreed to assume all of the liabilities of Driver
Passport.
 
 Further,
Randy Brown, an executive officer, director and majority of Driver Passport,
agreed to return 16,575,000 shares of common stock to Driver Passport for
cancellation in consideration of the transfer of all of the current existing
assets of Driver Passport following the closing of the acquisition of the
Patent.
  8
 
 ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
1 - ORGANIZATION
AND BASIS OF PRESENTATION (CONTINUED)
 
 Concurrent
with the assignment of the Patent to Driver Passport, Daniel D. Correa was
appointed as the Chief Executive Officer, Chief Financial Officer, and Secretary
of Driver Passport as well as a director of Driver Passport. In addition, Mr.
Brown resigned as an executive officer of Driver Passport.
 
 As a
result of the acquisition of the Patent, Driver Passport ceased being a shell
company as that term is defined in Rule 12b-2 and, its new business focus is on
selling licenses, developing INCABLOCKTM manufacturing facilities, related
engineering and training and marketing of the INCABLOCKTM Construction
System.
 
 On
January 13, 2009, Driver Passport and its newly formed, wholly owned subsidiary,
Eco Global Corporation, a Nevada corporation (“Eco Global” or the “Company”),
entered into a Plan and Agreement of Merger (the “Merger
Agreement”).  Pursuant to the terms and subject to the conditions set
forth in the Merger Agreement, the Company merged with and into Eco Global (the
“Migratory Merger”), with Eco Global continuing as the surviving corporation
domesticated in Nevada.
 
 As a
result of the Migratory Merger, the Company in now incorporated in Nevada, is
authorized to issue 250,000,000 shares of common stock, par value $0.001 per
share, and 10,000,000 shares of blank check preferred stock, par value $0.001,
and the Company’s name has been changed to Eco Global Corporation.
 
 TECHNOLOGY
 
 The
Company owns a proprietary technology known as INCABLOCKTM Construction System to
establish a business that specializes in pre-manufactured houses, as well as
commercial and industrial structures. These opportunities will be offered
through strategic joint ventures and licensing for manufacturing and or
marketing. The Company intends to focus first in Mexico, followed by the USA and
subsequently other countries.
  9
 
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
1 - ORGANIZATION
AND BASIS OF PRESENTATION (CONTINUED)
 
 OVERVIEW
 
 The
Company owns a unique intellectual property (the Patent) for the production of
Concrete Interlocking Modular Blocks System, which can be safely and efficiently
assembled without any mortar. The Company initially intends to generate revenue
through licensing opportunities whereby a license will develop a plant for the
production of the block and will in turn market prefabricated buildings using
the technology covered under the Patent. The Company intends to design, develop,
and construct dignified, financially sound and decent housing units by employing
an innovative, profitable and environmentally sound new construction
technology.
 
 Further,
the Company will license the INCABLOCKTM technology internationally, to provide a
strong, innovative construction system with which to construct housing
developments and commercial buildings, e.g. warehouses, hangars, etc. The joint
venture opportunities will include royalty arrangements, and percentage of
ownership in exchange for the transfer of the technology.
 
 THE PATENT AND
TRADEMARK
 
 A patent
application was submitted to the United States Patent and Trademark Office on
September 18, 2000 and subsequently an improvement filing was made in 2003. The
inventors are Mr. Daniel D. Correa and Mr. Lorenzo Correa. The Patent letter was
granted on December 11, 2007 with the Patent No. 7,305,803 with an expiration
date of May 16, 2025. The Patent was subsequently assigned to INCA. Trademark
applications were filed on April 3, 2008 (serial No. 77/439,024) for
INCABLOCKTM.
 
 PRODUCT
DESCRIPTION
 
 The
Company, with the INCABLOCKTM technology, will license the ability to design,
manufacture and market customized concrete block products, interlocking concrete
blocks, roofing structures, light concrete aggregate panels and a “kit system”
of a pre-fabricated houses or structures on a standard format or custom made
basis according to customer blue prints.
  10
 
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
1 - ORGANIZATION
AND BASIS OF PRESENTATION (CONTINUED)
 
 Below are
features of the INCABLOCKTM system that the Company believes set it apart from
other block systems or standard construction:
 
 ·
              The
      INCABLOCKTM product line offers more than six different modular blocks in
      different thicknesses (4”-6”-8”-12”) that can be versatile to accommodate
      a total modular construction
project.
 ·
              Interlocking
      capabilities on all contact faces, each block forms a dilatation joint in
      each contact face of the block (top-bottom-left side-right side),
      increasing the flexibility to resist earthquakes and high
      winds.
 ·
              Mortar-less,
      it does not require mortar as its design includes an interlocking tongue
      and groove system that allows an easy assembly; they can be grouted inside
      their cells when dictated by the structural
  plans.
 ·
              Self-alignment
      capabilities-all blocks of the system are component to each other and can
      only be fit in one-way position.
 ·
              Per
      conventional square meter is quicker to assemble than standard
      construction methods.
 ·
              Hollow
      cells in their block interior allows the passage of re-bars, insulation
      materials, cables, pipes for utilities and grout when
    needed.
 ·
              Unskilled
      labor rated, after the first course is grouted to the flooring structure,
      the blocks are just assemble
together.
 ·
              Fire
      resistant. Since concrete blocks do not support combustion and their mass
      transfer’s heat slowly their fire resistance is very
  high.
 ·
              Sound
      control, especially important in multi-unit housing, commercial and
      industrial applications, and excellent sound barrier for populated areas
      with highways.
 ·
              Attractive
      finishes. Perfectly aligned blocks with no mortar provide a better surface
      for applying decorative finishes by brush, towel, or spray, in some areas
      may be left expose.
 ·
              Pre-manufactured
      kit for houses and buildings with all the necessary modular pieces
      including blocks with self contained electrical and plumbing outlets,
      window molding and sills, cornices, dentils,
  etc.
  11
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
1 - ORGANIZATION
AND BASIS OF PRESENTATION (CONTINUED)
 
 MARKETING
 
 The
market for factory-built housing is affected by a number of factors, including
the availability, cost and credit underwriting standards of consumer financing,
consumer confidence, employment levels, general housing market and other
economic conditions and the overall affordability of factory-built housing
versus other forms of housing. In addition, demographic trends such as changes
in population growth and competition affect demand for housing products.
Interest rates and the availability of financing also influence the
affordability of factory-built housing.
 
 The
Company believes the segment of the housing market in which manufactured housing
is most competitive includes consumers located in developing countries and lower
class consumerism in the United States. The comparatively low cost of
manufactured homes attracts these consumers. People in rural areas, where fewer
housing alternatives exist, and those who presently live in factory-built homes,
also make up a significant portion of the demand for new factory-built
housing.
 
 The
Company intends to offer licenses for manufacturing to established block
manufacturers, new start up and interested companies that will like to ad
manufacturing of blocks as part of their own expansion program, such as
contractors, developers and others.
 
 Additionally,
the Company will offer the licensing of the Company technology for the
implementation and construction of all inclusive manufacturing facilities,
including the use of the INCABLOCKTM Construction System and roofing structure
manufacturing, use for the sale of “KIT” housing and or commercial buildings, to
companies in the industry, or turn key opportunities.
 
 In the
foreign market, the Company will offer the licensing of the Company technology
for the implementation and construction of all inclusive manufacturing
facilities, including the use of the INCABLOCKTM Construction System and roofing
structure manufacturing, use for the sale of “KIT” housing and or commercial
buildings, to companies in the industry, or turn key opportunities.
 
 In the
past, a number of factors have restricted demand for factory-built housing,
including in some cases, less-favorable financing terms compared to site-built
housing, the effects of restrictive zoning on the availability of certain
locations for home placement and, in some cases, an unfavorable public image.
Certain of these adverse factors have lessened considerably in recent years with
the improved quality and appearance of factory-built housing.
  12
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
2 - SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES
 
 a. Development Stage
Company
 
 The
Company is considered to be in the development stage as defined in Statement of
Financial Accounting Standards (SFAS) No. 7, “Accounting and Reporting by
Development Stage Enterprises”.The Company has devoted substantially all
of its efforts to business planning and development. Additionally, the Company
has allocated a substantial portion of their time and investment in bringing
their services to the market and the raising of capital.
 
 b. Use of
Estimates
 
 The
preparation of the financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures 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.
 
 c. Start-up
Costs
 
 In
accordance with the American Institute of Certified Public Accountants Statement
of Position 98-5, “Reporting
on the Costs of Start-up Activities”,the Company expenses all costs
incurred in connection with the start-up and organization of the
Company.
 
 d. Revenue
Recognition
 
 Although,
the Company has not recognized revenue to date, the Company will account for the
licensing of its patent in accordance with the terms of their license
agreements.
 
 Revenue
from licenses and sublicenses sold on an individual basis are recognized upon
shipment, provided that evidence of an arrangement exists, delivery has occurred
and risk of loss has passed to the customer, fees are fixed or determinable and
collection of the related receivable is reasonably assured.  Revenue
from installation, training, and consulting services if required is recognized
as services are performed.
 
 If there
are licensing fees collected in advance, revenues from these license fees will
be recognized on a prorated-basis over the life of the license.
  13
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
2 - SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
 
 The
Company will assess probability of collection based on a number of factors,
including the creditworthiness of the customer. New customers will be subject to
a credit review process that evaluates the customers’ financial position and
ultimately its ability to pay according to the original terms of the
arrangement. Based on this review process, if it is determined from the outset
of an arrangement that collection of the resulting receivable is not probable,
the Company will establish an allowance for uncollectibility.
 
 e.
 Income
Taxes
 
 The
Company accounts for income taxes utilizing the liability method of accounting.
Under the liability method, deferred taxes are determined based on differences
between financial statement and tax bases of assets and liabilities at enacted
tax rates in effect in years in which differences are expected to reverse.
Valuation allowances are established, when necessary, to reduce deferred tax
assets to amounts that are expected to be realized.
 
 f. 
Fixed
Assets
 
 Fixed
assets are stated at cost. Depreciation is computed using the straight-line
method over the estimated useful lives of the assets; computer equipment- 5
years.
 
 When
assets are retired or otherwise disposed of, the costs and related accumulated
depreciation are removed from the accounts, and any resulting gain or loss is
recognized in income for the period. The cost of maintenance and repairs is
charged to income as incurred; significant renewals and betterments are
capitalized. Deduction is made for retirements resulting from renewals or
betterments.
 
 g. 
Impairment of
Long-Lived Assets
 
 Long-lived
assets, primarily fixed assets, are reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount of the assets might
not be recoverable. The Company does not perform a periodic assessment of assets
for impairment in the absence of such information or indicators. Conditions that
would necessitate an impairment assessment include a significant decline in the
observable market value of an asset, a significant change in the extent or
manner in which an asset is used, or a significant adverse change that would
indicate that the carrying amount of an asset or group or assets is not
recoverable.
  14
 
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
2 - SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
 
 For
long-lived assets to be held and used, the Company recognizes an impairment loss
only if its carrying amount is not recoverable through its undiscounted cash
flows and measures the impairment loss based on the difference between the
carrying amounts and estimated fair value.
 
 h.  (Loss) Per Share of Common
Stock
 
 Basic net
(loss) per common share is computed using the weighted average number of common
shares outstanding. Diluted earnings per share (EPS) include additional dilution
from common stock equivalents, such as stock issuable pursuant to the exercise
of stock options and warrants.
 
 Common
stock equivalents were not included in the computation of diluted earnings per
share when the Company reported a loss because to do so would be anti dilutive
for periods presented.
 
 The
following is a reconciliation of the computation for basic and diluted
EPS:
 
 March
      31,
              
              
              March
      31,2009
              
              
              2008Net
      Loss
              
              $
              (76,545
              )
              
              $
              (12,365
              )Weighted-average
      common sharesOutstanding
      (Basic)
              
              
              33,622,000
              
              
              
              29,847,000Weighted-average
      common stockEquivalentsStock
      options
              
              
              -
              
              
              
              -Warrants
              
              
              -
              
              
              
              -Weighted-average
      common sharesOutstanding
      (Diluted)
              
              
              33,622,000
              
              
              
              29,847,000
  15
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
2 - SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
 
 i.  Uncertainty in Income
Taxes
 
 In July
2006, the FASB issued Interpretation No. 48 (FIN No. 48), “Accounting for
Uncertainty in Income Taxes”. This interpretation requires recognition and
measurement of uncertain income tax positions using a “more-likely –than-not”
approach. FIN No. 48 is effective for fiscal years beginning after December 15,
2006. Management has adopted FIN 48 for 2007, and they evaluate their tax
positions on an annual basis, and have determined that as of March 31, 2009, no
additional accrual for income taxes is necessary.
 
 j.  Recent Accounting
Pronouncements
 
 In
September 2006, the FASB issued FAS No. 159, “The Fair Value Option for
Financial Assets and Financial Liabilities- Including an amendment of FASB
Statement No. 115”, (“FAS 159”) which permits entities to choose to measure many
financial instruments and certain other items at fair value at specified
election dates. A business entity is required to report unrealized gains and
losses on items for which the fair value option has been elected in earnings at
each subsequent reporting date. This statement is expected to expand the use of
fair value measurement. FAS 159 is effective for financial statements issued for
fiscal years beginning after November 15, 2007, and interim periods within those
fiscal years.
 
 In
December 2007, the FASB issued SFAS No. 160, “Noncontrolling Interests in
Consolidated Financial Statements, an amendment of Accounting Research Bulletin
No 51” (SFAS 160). SFAS 160 establishes accounting and reporting standards for
ownership interests in subsidiaries held by parties other than the parent,
changes in a parent’s ownership of a noncontrolling interest, calculation and
disclosure of the consolidated net income attributable to the parent and the
noncontrolling interest, changes in a parent’s ownership interest while the
parent retains its controlling financial interest and fair value measurement of
any retained noncontrolling equity investment.
 
 SFAS 160
is effective for financial statements issued for fiscal years beginning after
December 15, 2008, and interim periods within those fiscal years. Early adoption
is prohibited. Management is determining the impact that the adoption of SFAS
No. 160 will have on the Company’s consolidated financial position, results of
operations or cash flows.
  16
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
2 - SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
 
 j.  Recent Accounting
Pronouncements (Continued)
 
 In
December 2007, the FASB issued SFAS 141R, Business Combinations (“SFAS
141R”), which replaces FASB SFAS 141, Business Combinations. This
statement retains the fundamental requirements in SFAS 141 that the acquisition
method of accounting be used for all business combinations and for an acquirer
to be identified for each business combination. SFAS 141R defines the acquirer
as the entity that obtains control of one or more businesses in the business
combination and establishes the acquisition date as the date that the acquirer
achieves control. SFAS 141R will require an entity to record separately from the
business combination the direct costs, where previously these costs were
included in the total allocated cost of the acquisition. SFAS 141R will require
an entity to recognize the assets acquired, liabilities assumed, and any
noncontrolling interest in the acquired at the acquisition date, at their fair
values as of that date. This compares to the cost allocation method previously
required by SFAS No. 141. SFAS 141R will require an entity to recognize as an
asset or liability at fair value for certain contingencies, either consideration
at the date of acquisition, based on the fair value at that date. This Statement
will be effective for business combinations completed on or after the first
annual reporting period beginning on or after December 15, 2008. Early adoption
of this standard is not permitted and the standards are to be applied
prospectively only. Upon adoption of this standard, there would be no impact to
the Company’s results of operations and financial condition for acquisitions
previously completed. The adoption of SFAS No. 141R is not expected to have a
material effect on the Company’s consolidated financial position, results of
operations or cash flows.
  In April
2008, the FASB issued FSP No. FAS 142-3, “Determination of the Useful Life of
Intangible Assets”. This FSP amends the factors that should be considered in
developing renewal or extension assumptions used to determine the useful life of
a recognized intangible asset under SFAS No. 142, “Goodwill and Other Intangible
Assets”. The Company was required to adopt FSP 142-3 on October 1, 2008. The
guidance in FSP 142-3 for determining the useful life of a recognized intangible
asset shall be applied prospectively to intangible assets acquired after
adoption, and the disclosure requirements shall be applied prospectively to all
intangible assets recognized as of, and subsequent to, adoption. The Company
does not believe that FSP 142-3 will materially impact their financial position,
results of operations or cash flows.
  Other
accounting standards that have been issued or proposed by the FASB or other
standards-setting bodies that do not require adoption until a future date and
are not expected to have a material impact on the financial statements upon
adoption.
  17
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
3 - FIXED
ASSETS
 
 Fixed
assets as of March 31, 2009 and 2008 were as follows:
 
 EstimatedUsefulLives(Years)
              
              
              2009
              
              
              2008Computer
      equipment
              
              
              5
              
              
              $
              0
              
              
              $
              7,281Less:
      accumulated depreciation
              
              
              
              
              
              
              0
              
              
              
              (2,348
              )Fixed
      assets, net
              
              
              
              
              
              $
              0
              
              
              $
              4,933
 
 The
Company as part of the Assignment Agreement entered into on October 30, 2008,
disposed of the equipment and as a result the balance is zero as of March 31,
2009.
  NOTE
4 - INTANGIBLE
ASSETS
 
 On
September 18, 2000, a patent application was submitted with the United States
Patent and Trademark Office and subsequently an improvement filing was made in
2003 by the inventors of the Inca Block system, Mr. Daniel D. Correa and Mr.
Lorenzo Correa. The patent letter was granted on December 11, 2007 with Patent
No. 7,305,803 with an expiration date of May 16, 2025. The Patent was
subsequently assigned to INCA. Trademark applications were filed on April 3,
2008 (serial No. 77/439,024) for INCABLOCK.
 
 The
Company as part of the Assignment Agreement entered into on October 30, 2008,
acquired the Patent in exchange for the 20,000,000 shares of common stock they
issued on December 31, 2008. The Company’s common stock had a fair value of $.14
per share on this date, and as a result, the Company valued the Patent at
$2,800,000. The Patent has an estimated useful life of 16 years and will be
amortized commencing January 1, 2009. In addition, the Company will perform
annual impairment tests for all of its long-lived assets including the
Patent.
  18
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
4 - INTANGIBLE
ASSETS (CONTINUED)
 
 Intangible
assets as of March 31, 2009 and 2008 were as follows:
 
 EstimatedUsefulLive(Years)
              
              
              2009
              
              
              2008INCABLOCK
      Patent
              
              
              16
              
              
              $
              2,800,000
              
              
              $
              0Less:
      accumulated amortization
              
              
              
              
              
              
              (43,750
              )
              
              
              0Intangible
      assets, net
              
              
              
              
              
              $
              2,756,250
              
              
              $
              0
 
 Intangible
assets with finite useful lives are amortized over their respective useful
lives. Based on the carrying values at December 31, 2008 and assuming no
subsequent impairment of the underlying assets, the annual amortization is
expected to be $175,000 in 2009 through 2013.
 
 NOTE
5 - SHARING
ARRANGEMENT
 
 The
Company has a bank account, however, runs most of its operations and banking
activity through a related party, its majority shareholder and the majority
shareholders related entities. Since Driver Passport, LLC’s inception, October
12, 2004, most of the Company’s transactions involving its cash disbursements
had been provided by a related company who was funded by the Company’s former
sole member. At December 31, 2005 and December 31, 2004, the Company had a note
payable with this member in the amount of $130,081 and $537, respectively.
However, on December 31, 2005, the former sole member converted these amounts to
contributed capital. Therefore, Driver Passport LLC had no amounts outstanding
on December 31, 2005 to the sole member. Upon acquisition of Driver Passport LLC
by the Company, the majority shareholder and former sole member of the Company
funded all activity either personally or through an entity controlled by him,
and the Company entered into a note payable with this majority shareholder for
repayment of these amounts funded. (See Note 6). As of March 31, 2009, the
Company has $280,388 outstanding to this shareholder, as well as $43,024 in
accrued interest. The majority shareholder has since ceased funding the
operations as of October 2008, however has entered into a separate note payable
as discussed in Note 6.
  19
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
6 - NOTES
PAYABLE
 
 The
Company entered into an unsecured promissory note with its former majority
shareholder in a maximum amount of $500,000, due on demand. The shareholder has
charged the Company interest at the prime rate (4.00% as of March 31, 2009).
Interest is calculated on a monthly basis on the principal balance owing on the
last day of the month. The balance as of March 31, 2009 and December 31, 2008 on
this note was $280,388. Included in the statements of operations is $2,804 and
$4,159, respectively in interest expense on this note.
 
 On
November 18, 2008, the Company entered into a promissory note with Randy Brown,
separate from the unsecured promissory note. This note, is in the principal
amount of $100,000 and bears interest at a rate of 10% per annum. The amounts
were received in three advances, $25,000 each on November 18, 2008 and December
9, 2008 and the final $50,000 on December 19, 2008. The note matures May 18,
2009. If the Company fails to repay the balance of the note plus accrued
interest by the maturity date, the Company agrees to increase the interest rate
by 5% per annum for each six month period the note remains unpaid, and this rate
shall be applied to the entire balance from the beginning of the
note.
 
 The
purpose of this note is to provide proceeds for a project the Company is working
on with an entity known as Eco Mining, Inc., for a mining project in Mexico,
relating to the mining of a product known as “pozzolan”. The note, is guaranteed
by real estate in Baja California, Mexico, owned by INCA and the irrevocable
unconditional personal guarantee of Daniel Correa.
 
 During
the period January 1, 2009 through March 31, 2009, the note accrued interest of
$2,466 which the Company has capitalized as part of the project that they are
working on. Eco Mining, Inc. is a related company through common ownership, and
the Company has funded $84,647 through March 31, 2009 (see Note 7).
 
 NOTE
7 - DUE
FROM RELATED PARTY – ECO MINING, INC.
 
 During
the period January 1, 2009 through March 31, 2009, the Company paid $4,629 in
certain non-interest advances directly related to Eco Mining, Inc. a corporation
that has common ownership to the Company. The Company has advanced a cumulative
total $84,647 to Eco Mining, Inc. for a certain project in Mexico. The Company
used the proceeds of the promissory note entered into on November 18, 2008 to
fund this project.
  20
 
 ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
8 - PROVISION
FOR INCOME TAXES
 
 Deferred
income taxes are determined using the liability method for the temporary
differences between the financial reporting basis and income tax basis of the
Company’s assets and liabilities. Deferred income taxes are measured based on
the tax rates expected
 to be in
effect when the temporary differences are included in the Company’s tax return.
Deferred tax assets and liabilities are recognized based on anticipated future
tax consequences attributable to differences between financial statement
carrying amounts of assets and liabilities and their respective tax
bases.
 
 At March
31, 2009, deferred tax assets consist of the following:
 
 Net
      operating losses
              
              $
              262,422Valuation
      allowance
              
              
              (262,422
              )$
              -
 
 At March
31, 2009, the Company had a net operating loss carry forward in the approximate
amount of $771,829, available to offset future taxable income through 2029. The
Company established valuation allowances equal to the full amount of the
deferred tax assets due to the uncertainty of the utilization of the operating
losses in future periods.
 
 A
reconciliation of the Company’s effective tax rate as a percentage of income
before taxes and federal statutory rate for the periods ended March 31, 2009 and
2008 is summarized as follows:
 
 2009
              
              
              2008Federal
      statutory rate
              
              
              (34.0
              %)
              
              
              (34.0
              %)State
      income taxes, net of federal benefits
              
              
              4.5
              
              
              
              4.5Valuation
      allowance
              
              
              29.5
              
              
              
              29.50
              %
              
              
              0
              %
  21
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
9 - GOING
CONCERN
 
 As shown
in the accompanying financial statements, as is typical of companies going
through the development stage, the Company incurred a net loss for the three
months ended March 31, 2009 and 2008 of $76,545 and $12,365 respectively. The
Company had a working capital deficit of $388,293 at March 31,
2009.
 
 The
Company acquired a development stage company on January 1, 2006, and there is no
guarantee that the Company will be able to generate enough revenue and/or raise
capital to support current operations and generate anticipated sales. Due to the
Company’s continued losses and change in business, along with a lack of suitable
equity and liquidity in the Company, these conditions raise substantial doubt
about the Company’s ability to continue as a going concern for a period of
twelve months.
 
 On
October 30, 2008, per the LOI, the Company and INCA entered into and closed an
Assignment Agreement pursuant to which Inca transferred and assigned the Patent
to the Company in consideration for an option to purchase 20,000,000 shares of
common stock and 2% of the net sale price of all products manufactured by the
Company using the technology in the Patent and then sold or disposed
of.
 
 In
addition, on October 30, 2008, the Company and Randy Brown, an executive
officer, director and shareholder of the Company, entered into and closed an
Agreement and Release whereby Mr. Brown agreed to return 16,575,000 shares of
common stock of the Company to the Company in consideration for the sale of all
of the assets of the Company relating to the driver security program. Further,
except for the Promissory Note in the principal amount of approximately
$319,000, Mr. Brown agreed to assume all of the liabilities of the
Company.
 
 Further,
Randy Brown, an executive officer, director and majority of the Company, agreed
to return 16,575,000 shares of common stock to the Company for cancellation in
consideration of the transfer of all of the current existing assets of the
Company following the closing of the acquisition of the Patent.
 
 Concurrent
with the assignment of the Patent to the Company, Daniel D. Correa was appointed
as the Chief Executive Officer, Chief Financial Officer, and Secretary of the
Company as well as a director of the Company. In addition, Mr. Brown resigned as
an executive officer of the Company.
  22
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
9 - GOING
CONCERN (CONTINUED)
  As a
result of the acquisition of the Patent, the Company ceased being a shell
company as that term is defined in Rule 12b-2 and, its new business focus is on
selling licenses, developing INCABLOCKTM manufacturing facilities, related
engineering and training and marketing of the INCABLOCKTM Construction
System.
 The Company is still in
need of additional liquidity to carry out the proposed business of INCA, and is
currently in discussions to secure financing. Should
the Company be successful in securing financing, it may be on terms that are
unfavorable to the Company.
 The
financial statements do not include any adjustments that might result from the
outcome of these uncertainties.
 
 NOTE
10 - STOCKHOLDERS’
EQUITY (DEFICIT)
 
 The Company was
established with 50,000,000 shares of authorized stock; 40,000,000 of common
stock and 10,000,000 of preferred stock. Each class of stock has a par value of
$.001.As a result of the Migratory Merger (see Note 1), the Company in
now authorized to issue 250,000,000 shares of common stock, par value $0.001 per
share, and 10,000,000 shares of blank check preferred stock, par value
$0.001.
 
 On
January 1, 2006, the Company acquired Driver Passport LLC for 25,500,000 shares
of common stock. The value of the stock was par or $25,500.
 
 In June
2006, the Company issued 2,217,000 shares of common stock. Of these shares,
1,197,000 shares were issued for $39,900 in cash, and 1,020,000 shares were
issued for consulting services valued at $34,000. The Company also received
$1,500 of contributed capital in the year ended December 31, 2006 and $1,383 of
contributed capital for the year ended December 31, 2007.
 
 In July
2006, the Company received acknowledgement from the Securities and Exchange
Commission of an effective registration.
 
 The
Company accrued at December 31, 2006 the issuance of 2,130,000 shares of common
stock valued at $.05 per share (the opening bid price of the common stock) or
$106,500. These shares were earned under agreements due when the Company was
deemed effective by the SEC and commenced trading. The shares were issued on
February 15, 2007.
  23
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
10 - STOCKHOLDERS’
EQUITY (DEFICIT) (CONTINUED)
 
 The
Company accrued at December 18, 2007 the issuance of 50,000 shares of common
stock valued at $0.08 per share or $4,000. These shares were earned by Jay
Mitchell, independent contractor, as part of an agreement to promote the
Company.
 
 On
October 30, 2008, per the LOI, the Company and INCA entered into and closed an
Assignment Agreement pursuant to which Inca transferred and assigned the Patent
to the Company in consideration for an option to purchase 20,000,000 shares of
common stockand 2% of
the net sale price of all products manufactured by the Company using the
technology in the Patent and then sold or disposed of. A value has been issued
to the shares issued on December 31, 2008 in an amount of $0.14 cents per share
for the 20,000,000 shares of common stock or $2,800,000. The shares were issued
for the patent and were issued on December 31, 2008.
 
 In
addition, on December 31, 2008, the Company issued 300,000 shares of common
stock for legal services provided at a value of $0.14 per share or
$42,000.
 
 As of
March 31, 2009, the Company had 33,622,000 shares issued and
outstanding.
 
 As of
Mach 31, 2009, there were no shares of preferred stock issued or outstanding,
and the Company has not issued any stock options or warrants.
 
 NOTE
11 - ACQUISITION
 
 On
September 12, 2008, Driver Passport, Inc. (the “Company”) and INCA, a California
limited liability company, entered into a LOI for the Company to acquire a
patent (as described in patent number US 7,305,803 B2) covering the use of the
INCABLOCKTM Construction System (the “Patent”).
 
 On
October 30, 2008, per the LOI, the Company and INCA entered into and closed an
Assignment Agreement pursuant to which Inca transferred and assigned the Patent
to the Company in consideration for an option to purchase 20,000,000 shares of
common stock and 2% of the net sale price of all products manufactured by the
Company using the technology in the Patent and then sold or disposed
of.
 
 In
addition, on October 30, 2008, the Company and Randy Brown, an executive
officer, director and shareholder of the Company, entered into and closed an
Agreement and Release whereby Mr. Brown agreed to return 16,575,000 shares of
common stock of the Company to the Company in consideration for the sale of all
of the assets of the Company relating to the driver security program. Further,
except for the Promissory Note in the principal amount of approximately
$319,000, Mr. Brown agreed to assume all of the liabilities of the
Company.
  24
 ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
   NOTE
11 - ACQUISITION
(CONTINUED)
 
 Further,
Randy Brown, an executive officer, director and majority of the Company, agreed
to return 16,575,000 shares of common stock to the Company for cancellation in
consideration of the transfer of all of the current existing assets of the
Company following the closing of the acquisition of the Patent.
 
 Concurrent
with the assignment of the Patent to the Company, Daniel D. Correa was appointed
as the Chief Executive Officer, Chief Financial Officer, and Secretary of the
Company as well as a director of the Company. In addition, Mr. Brown resigned as
an executive officer of the Company.
 
 As a
result of the acquisition of the Patent, the Company ceased being a shell
company as that term is defined in Rule 12b-2 and, its new business focus is on
selling licenses, developing INCABLOCKTM manufacturing facilities, related
engineering and training and marketing of the INCABLOCKTM Construction
System.
 
 NOTE
12 - FAIR VALUE
MEASUREMENTS
 
 On
January 1, 2008, the Company adopted SFAS 157. SFAS 157 defines fair value,
provides a consistent framework for measuring fair value under generally
accepted accounting principles and expands fair value financial statement
disclosure requirements. SFAS 157’s valuation techniques are based on observable
and unobservable inputs. Observable inputs reflect readily obtainable data from
independent sources, while unobservable inputs reflect our market assumptions.
SFAS 157 classifies these inputs into the following hierarchy:
  Level 1
inputs: Quoted prices for identical instruments in active markets.
  Level 2
inputs: Quoted prices for similar instruments in active markets; quoted prices
for identical or similar instruments in markets that are not active; and
model-derived valuations whose inputs are observable or whose significant value
drivers are observable.
  Level 3
inputs: Instruments with primarily unobservable value drivers.
  The
following table represents the fair value hierarchy for those financial assets
and liabilities measured at fair value on a recurring basis as of March 31,
2009:
  25
  ECO
GLOBAL CORPORATION
 (FORMERLY
DRIVER PASSPORT, INC.)
 (A
DEVELOPMENT STAGE COMPANY)
 NOTES TO
THE FINANCIAL STATEMENTS (UNAUDITED)
 MARCH 31,
2009 AND 2008
 NOTE
      12 - FAIR VALUE
      MEASUREMENTS (CONTINUED)
  Level
      1
                
                
                Level
      2
                
                
                Level
      3
                
                
                TotalCash
                
                
                80
                
                
                
                -
                
                
                
                -
                
                
                
                80Total
      assets
                
                
                80
                
                
                
                -
                
                
                
                -
                
                
                
                80Notes
      payable
                
                
                -
                
                
                
                -
                
                
                
                380,388
                
                
                
                380,388Total
      liabilities
                
                
                -
                
                
                
                -
                
                
                
                380,388
                
                
                
                380,388


26





ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS AND PLAN OF OPERATION





The
following discussion and analysis is provided to increase the understanding of,
and should be read in conjunction with, the financial statements and the notes
thereto contained elsewhere in this report. The Private Securities Litigation
Reform Act of 1995 provides a "safe harbor" for forward-looking statements.
Information in this, "Management's Discussion and Analysis of Financial
Conditions and Results of Operations," and elsewhere in this 10-Q that does not
consist of historical facts, are "forward-looking statements." Statements
accompanied or qualified by, or containing words such as "may," "will,"
"should," "believes," "expects," "intends," "plans," "projects," "estimates,"
"predicts," "potential," "outlook," "forecast," "anticipates," "presume," and
"assume" constitute forward-looking statements, and as such, are not a guarantee
of future performance. The statements involve factors, risks and uncertainties
including those discussed in the “Risk Factors” section contained elsewhere in
this report, the impact or occurrence of which can cause actual results to
differ materially from the expected results described in such statements. Risks
and uncertainties can include, among others, fluctuations in general business
cycles and changing economic conditions; changing product demand and industry
capacity; increased competition and pricing pressures; advances in technology
that can reduce the demand for the Company's products, as well as other factors,
many or all of which may be beyond the Company's control. Consequently,
investors should not place undue reliance on forward-looking statements as
predictive of future results. The Company disclaims any obligation to update the
forward-looking statements in this report.





Overview





Driver
Passport, Inc. (“Driver Passport”) was incorporated on December 7, 2005 to be
effective January 1, 2006 as a North Dakota corporation.  On January
1, 2006, Driver Passport issued 25,500,000 shares of its common stock in
exchange for 100% of the membership interest of Driver Passport, LLC, a North
Dakota limited liability company formed on October 12, 2004.  On
January 2, 2006, Driver Passport, LLC was dissolved.





On
September 12, 2008, Driver Passport and Incablock International, LLC. (“INCA”),
a California limited liability company, entered into a Letter of Intent (“LOI”)
for the Company to acquire a patent (as described in patent number US 7,305,803
B2) covering the use of the INCABLOCKTM Construction System (the
“Patent”).  On October 30, 2008, per the LOI, Driver Passport and INCA
entered into and closed an Assignment Agreement pursuant to which Inca
transferred and assigned the Patent to Driver Passport in consideration for an
option to purchase 20,000,000 shares of common stock and 2% of the net sale
price of all products manufactured by the Company using the technology in the
Patent and then sold or disposed of. Concurrent with the assignment of the
Patent to Driver Passport, Daniel D. Correa was appointed as the Chief Executive
Officer, Chief Financial Officer, and Secretary of Driver Passport as well as a
director of Driver Passport. In addition, Mr. Brown resigned as an executive
officer of Driver Passport.





In
addition, on October 30, 2008, Driver Passport and Randy Brown, an executive
officer, director and shareholder of Driver Passport, entered into and closed an
Agreement and Release whereby Mr. Brown agreed to return 16,575,000 shares of
common stock of Driver Passport to Driver Passport in consideration for the sale
of all of the assets of Driver Passport relating to the driver security program.
Further, except for the Promissory Note in the principal amount of approximately
$319,000, Mr. Brown agreed to assume all of the liabilities of Driver
Passport.





On
November 4, 2008, following the cancellation of the 16,575,000 shares of common
stock of the Company by Mr. Brown, Inca exercised its option and received
20,000,000 shares of common stock of the Company. Upon issuance of the new
shares, Inca became the new majority shareholder of Driver
Passport.





As a
result of the acquisition of the Patent, Driver Passport ceased being a shell
company as that term is defined in Rule 12b-2 and, its new business focus is on
selling licenses, developing INCABLOCKTM manufacturing facilities, related
engineering and training and marketing of the INCABLOCKTM Construction
System.





Recent
Developments





On
January 13, 2009, Driver Passport and its newly formed, wholly owned subsidiary,
Eco Global Corporation, a Nevada corporation (“Eco Global” or the “Company”),
entered into a Plan and Agreement of Merger (the “Merger
Agreement”).  Pursuant to the terms and subject to the conditions set
forth in the Merger Agreement, the Company merged with and into Eco Global (the
“Migratory Merger”), with Eco Global continuing as the surviving corporation
domesticated in Nevada.





As a
result of the Migratory Merger, the Company in now incorporated in Nevada, is
authorized to issue 250,000,000 shares of common stock, par value $0.001 per
share, and 10,000,000 shares of blank check preferred stock, par value $0.001,
and the Company’s name has been changed to Eco Global Corporation.




27





For
the 3 months ended March 31, 2009 compared to the three months ended March 31,
2008





Net
Revenues–
Net revenues forthe
3 months ended March 31, 2009 and 2008 were $0 and $0, respectively. These
levels of revenues reflect our current status as a development stage enterprise.
If we are unable to implement our plan to manufacture, market and distribute, or
license, our products and rights, our revenues will not significantly increase
during the current fiscal year.





General and
Administrative –General and administrative expensesamounted
to $29,991 and $7,658 for the three months ended March 31, 2009 and 2008,
respectively. This increase over the comparable period is primarily the result
of professional fees associated with our annual audit and 10-K.  We
may incur higher levels of general and administrative expenses when our
operations become established and increase.




Depreciation,
Amortization and Impairment –Depreciation, amortization and
impairment expense increased to $43,750 for the three months ended March
31, 2009 from $548 for the 3 months ended March 31, 2008. This increase was due
to a $43,750 amortization expense for the Incablock construction system
patent.  We amortize our intangible assets using the straight-line
method over periods of future benefit. The Incablock patent expires May 16, 2025
therefore we expect to incur this expense for the next 16
years.  However, we also consider our intangible assets for impairment
when circumstances, if any, arise that indicates that we may not recover these
assets through future revenue streams.





Interest
Expense –For the three months ended March 31, 2009, interest
expense decreased to $2,804 from $4,159 for the three months ended March 31,
2008.





Net Loss –Net loss for the three months ended March 31, 2009 and March 31, 2008
amounted to ($76,545) and ($12,365), respectively.  The increase in
net loss is primarily due to the $43,750 amortization expense attributable to
the Incablock patent.





Loss Applicable
to Common Shareholders –Loss applicable to common stockholders
represents our net loss, as adjusted. Our loss applicable to common shareholders
and our loss per common share (basic and diluted) amounted to ($76,545) and
($0.00), respectively, for the 3 months ended March 31, 2009 as compared to
($12,365) and ($0.00), respectively, for the 3 months ended March 31,
2008.





Liquidity
and Capital Resources





Cash and
cash equivalents amounted to $80 as of March 31, 2009.  As of March
31, 2009, the Company had a working capital deficit of $388,293 and
shareholders’ equity of $2,371,060.





Due to
the Company’s continued losses, change in business, lack of suitable equity and
liquidity, and no guarantee that it will be able to generate future revenue
and/or raise sufficient capital to support current operations, there is
substantial doubt about the Company’s ability to continue as a “going
concern”.  Going concern contemplates the realization of assets and
the satisfaction of liabilities in the normal course of business over a
reasonable length of time.





Based on
our current cash and cash equivalents levels and expected cash flow from
operations, we believe our current cash position is not sufficient to fund our
requirements during the next twelve months, including operations and capital
expenditures. The Company has borrowed limited amounts of capital from a private
lender in order to sustain short-term business operations and is currently
seeking alternative sources of financing.





The
Company intends to focus its efforts on introducing the INCABLOCKTM System to the
international marketplace.  We believe this will include the selling
of licenses, the establishment of joint ventures, developing
INCABLOCKTM manufacturing facilities, and providing related engineering,
training and marketing to support the entire INCABLOCKTM System.  We
also believe that entry into the international affordable housing market sector
will expose us to different and potentially fertile financing opportunities -
such as project-based debt financing through government organizations and/or
agencies who have earmarked funds to promote the construction of housing in
emerging markets worldwide.  In addition, the Company is pursuing an
interest, through a related party, in a mining project in Mexico, relating to
the mining of a product known as “pozzolan”.  However, the Company
cannot assure that financing will be available or that it will be available on
satisfactory terms when required.  To the extent that we may raise
additional funds by issuing equity securities, our stockholders may experience
significant dilution.  Management plans to aggressively control costs
while pursuing more substantive equity and /or debt financing as required to
support our business plan.




28





The
Company generated a deficit in cash used in operating activities of $2,597 for
the three months ended March 31, 2009 and a deficit from investing activities of
$4,629.  This deficit from investing activities is primarily
attributable to advances and expenditures related to a company in Mexico known
as Eco Mining, Inc.





The
Company did not generate cash from financing activities for the three months
ended March 31, 2009.




ITEM 3.QUANTITATIVEANDQUALITATIVE DISCLOSURES ABOUT MARKET
RISKS




As a
“smaller reporting company” as defined by Item 10 of Regulation S-K, the Company
is not required to provide information required by this Item.




ITEM
4T. CONTROLS AND PROCEDURES





As of
March 31, 2009, we carried out an evaluation, under the supervision and with the
participation of our Principal Executive Officer and Principal Financial
Officer, of the effectiveness of the design and operation of our disclosure
controls and procedures. Based on this evaluation, the Principal Executive
Officer and Principal Financial Officer concluded that our disclosure controls
and procedures were not effective in ensuring that information required to be
disclosed by us in our periodic reports is recorded, processed, summarized and
reported, within the time periods specified for each report and that such
information is accumulated and communicated to our management, including the
principal executive and principal financial officer, or persons performing
similar functions, as appropriate to allow timely decisions regarding required
disclosure.





We did
not maintain effective controls to ensure appropriate segregation of duties as
the same employees were responsible for the initiating and recording of
transactions, thereby creating segregation of duties weaknesses. Due to the (1)
significance of segregation of duties to the preparation of reliable financial
statements, (2) the significance of potential misstatement that could have
resulted due to the deficient controls and (3) the absence of sufficient other
mitigating controls, we determined that this control deficiency resulted in more
than a remote likelihood that a material misstatement or lack of disclosure
within the annual or interim financial statements will not be prevented or
detected.





Management
is currently evaluating avenues for mitigating our internal controls weaknesses,
but mitigating controls that are practical and cost effective may not be found
based on the size and structure of our organization.  Because of the
inherent limitations in all control systems, no evaluation of controls can
provide absolute assurance that misstatements due to error or fraud will not
occur or that all control issues and instances of fraud, if any, within the
Company have been detected.  These inherent limitations include the
realities that judgments in decision making can be faulty and that breakdowns
can occur because of simple error or mistake.  The design of any system of
controls is based in part on certain assumptions about the likelihood of future
events, and there can be no assurance that any design will succeed in achieving
its stated goals under all potential future conditions.  Projections of any
evaluation of controls effectiveness to future periods are subject to
risks.





There was
no change in our internal controls over financial reporting that has materially
affected, or is reasonable likely to materially affect, our internal control
over financial reporting during the quarter covered by this Report.




29





PART
II. OTHER INFORMATION





ITEM
1. LEGAL PROCEEDINGS





From time
to time, we may become involved in various lawsuits and legal proceedings, which
arise in the ordinary course of business. However, litigation is subject to
inherent uncertainties, and an adverse result in these or other matters may
arise from time to time that may harm its business.





We are
currently not aware of any legal proceedings or claims that we believe will
have, individually or in the aggregate, a material adverse affect on our
business, financial condition or operating results.





ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS




None.





ITEM
3. DEFAULTS UPON SENIOR SECURITIES




None.





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




None.





ITEM
5. OTHER INFORMATION




None.




ITEM 6.
EXHIBITS




Exhibit
            
            Description3.1
            
            Articles
      of Incorporation (Incorporated by reference to exhibit 3.1 on Form SB-2
      filed with the on June 21, 2006).3.2
            
            Bylaws
      (Incorporated by reference to exhibit 3.2 on Form SB-2 filed with the SEC
      on June 21, 2006).4.1
            
            Option
      issued to Incablock International LLC (Incorporated by reference to
      exhibit 10.2 on Form 8-K filed with the SEC on November 11,
      2008).10.1
            
            Assignment
      Agreement by and between Driver Passport, Inc. and Incablock International
      LLC (Incorporated by reference to exhibit 10.1 on Form 8-K filed with the
      SEC on November 11, 2008).10.2
            
            Agreement
      and Release by and between Driver Passport, Inc. and Randy Brown
      (Incorporated by reference to exhibit 10.3 on Form 8-K filed with the SEC
      on November 11, 2008).10.3
            
            Plan
      and Agreement of Merger of Driver Passport, Inc. and Eco Global
      Corporation (Incorporated by reference to the Form 8-K Current Report
      filed with the Securities and Exchange Commission dated May 12,
      2009)31.1
            
            Certification
      by Chief Executive and Financial Officer pursuant to Section 302 of
      Sarbanes-Oxley Act of 2002 (field herewith)32.1
            
            Certification
      by Chief Executive and Financial Officer pursuant to Section 906 of
      Sarbanes-Oxley Act of 2002 (field
herewith)




30




SIGNATURES








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




Eco
      Global Corporation(Registrant)Date:  May
      20, 2009
            By:
            /s/ Daniel
      D. CorreaDaniel
      D. CorreaChief Executive
      Officer, Chief Financial Officer

                and
      Director (Principal Executive Officer &
                Principal
      Financial Officer)






31