U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

__________________

FORM 10-Q

__________________

(Mark One)

x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934: For the quarterly period ended: ~~May~~August 31, 2010

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

INTERNATIONAL DEVELOPMENT AND ENVIRONMENTAL HOLDINGS

(Name of small business issuer in its charter)

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

~~1701~~1173 E.A ~~Woodfield~~2nd ~~Rd.~~Avenue, Suite ~~915,~~ ~~Schaumburg,~~327 ILNew ~~60173~~York City, NY 10065

(Address of principal executive offices and zip code)

~~800~~917-~~884~~273-~~1189~~1717

Issuer's telephone number:

SEC File Number: 333-153899

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

x Yes ¨ o No

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

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

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

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

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: 35437,~~480~~570,000 shares of common stock, on an as-converted basis, outstanding as of ~~July~~October 1225, 2010.

INDEX

		Page	~~Page~~
PART I FINANCIAL INFORMATION
Item 1.	Financial Statements	~~Financial Statements~~3	3
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	~~Management's Discussion and Analysis of Financial Condition and Results of Operations~~12	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	~~Quantitative and Qualitative Disclosures About Market Risk~~13	14
Item 4.	Controls and Procedures	~~Controls and Procedures~~13	14
PART II OTHER INFORMATION
Item 1.	Legal Proceedings	~~Legal Proceedings~~14	14
Item 1A.	Risk Factors	~~Risk Factors~~14	15
Item 2.	Changes in Securities	~~Changes in Securities~~14	15
Item 3.	Defaults Upon Senior Securities	~~Defaults Upon Senior Securities~~14	15
Item 4.	Submission of Matters to a Vote of Security Holders	~~Submission of Matters to a Vote of Security Holders~~14	15
Item 5.	Other Information	~~Other Information~~15	15
Item 6.	Exhibits	~~Exhibits~~15	15

PART I-FINANCIAL INFORMATION

Item 1. Financial Statements

~~Table~~INTERNATIONAL DEVELOPMENT ofAND ~~Contents~~ENVIRONMENTAL HOLDINGS

Balance Sheets as of May 31, 2010 and February 28, 2010	4
Statements of Operations for the three months ended May 31, 2010 and 2009, and cumulative from February 28, 2008 (Inception) to May 31, 2010	5
Statement of Stockholders’ Equity cumulative from February 28, 2008 (Inception) to May 31, 2010	6
Statements of Cash Flows for the three months ended May 31, 2010 and 2009, and cumulative from February 28, 2008 (Inception) to May 31, 2010	7
Notes to Financial Statements	8

(A Development Stage Company)

CONDENSED BALANCE SHEETS

	August 31,			February 28,
	2010			2010
	Unaudited
ASSETS
Current assets:
Cash and cash equivalents	$	21,986		$	2,429
Other Receivable		25,592			-
Total Current Assets	$	47,578		$	2,429

TOTAL ASSETS	$	47,578		$	2,429
LIABILITIES & EQUITY
Current liabilities:
Loan from officers	$	254,789		$	131,788
Account payable		136,243			241,506
Accrued expenses		12,891			-
Deferred revenue		-			7,230
Total Current Liabilities	$	403,923		$	380,524
Stockholders' Equity:
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued and outstanding		-			-
Common stock, $0.001 par value; 100,000,000 shares authorized;
35,480,000 issued and outstanding at August 31, 2010 and February 28, 2010	$	35,480		$	35,480
Additional paid-in capital		322,270			322,270
Deficit accumulated during the development stage		(714,095	)		(735,845	)
Total stockholders' equity	$	(356,345	)	$	(378,095	)
TOTAL LIABILITIES & EQUITY	$	47,578		$	2,429

See notes to unaudited condensed financial statements.

INTERNATIONAL DEVELOPMENT AND ENVIRONMENTAL HOLDINGS

CONDENSED STATEMENTS OF OPERATIONS

(A Development Stage Company)

BALANCE SHEET

	Six Months Ended						Three Months Ended						February 28, 2008
	August 31						August 31						(Date of Inception)
	2010			2009			2010			2009			to August 31, 2010
	Unaudited			Unaudited			Unaudited			Unaudited			Unaudited
Revenues	$	-		$	45,525		$	-		$	21,805		$	45,525
Cost of Goods Sold		-			10,617			-			-			160,310
Gross Profit		-			34,908		$	-		$	21,805		$	(114,785	)
Operating expenses:
Research and development		-			-			-			-			-
Professional, consulting and marketing fees		62,800			14,690			42,714			14,190			385,047
Selling, general and administrative expenses		2,139			101,517			(249	)		58,212			408,375
Depreciation and amortization expenses		-			736			-			368			2,637
Total Operating Expenses		64,939			116,943		$	42,465		$	72,770		$	796,059
Operating Loss		(64,939	)		(82,035	)		(42,465	)		(50,965	)		(910,844	)
Other Income, net		86,689			-			22,816			-			200,716
Investment income, net		-			200			-			-			300
Other Expense, net		-			-			-			-			(4,267	)
Income(Loss) before taxes		21,750			(81,835	)		(19,649	)		(50,965	)		(714,095	)
Income(Loss) tax expense		-			-			-			-			-
Net Income(Loss)	$	21,750		$	(81,835	)	$	(19,649	)	$	(50,965	)	$	(714,095	)

Net Income(Loss) per common share-Basic		(0.00	)		(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.02	)
Net Income(Loss) per common share-Diluted		(0.00	)		(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.02	)

	May 31,			February 28,
	2010			2010
	Unaudited
ASSETS
Current assets:
Cash and cash equivalents	$	31,995		$	2,429
Other Receivable		20,736			-
Prepaid expense		2,500			-
Total Current Assets	$	55,231		$	2,429
TOTAL ASSETS	$	55,231		$	2,429
LIABILITIES & EQUITY
Current liabilities:
Loan from officer	$	136,788		$	131,788
Account payable		247,909			241,506
Deferred revenue		7,230			7,230
Total Current Liabilities	$	391,927		$	380,524
Stockholders' Equity:
Preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued and outstanding		-			-
Common stock, $0.001 par value; 100,000,000 shares authorized; 35,480,000 issued and outstanding at May 31, 2010 and February 28, 2010	$	35,480		$	35,480
Paid-in capital		322,270			322,270
Deficit accumulated during the development stage		(694,446	)		(735,845	)
Total stockholders' equity	$	(336,696	)	$	(378,095	)
TOTAL LIABILITIES & EQUITY	$	55,231		$	2,429

See notes to unaudited condensed financial statements.

INTERNATIONAL DEVELOPMENT AND ENVIRONMENTAL HOLDINGS

STATEMENTS OF OPERATIONS

(A Development Stage Company)

	Three Months Ended						February 28, 2008
	May 31						(Date of Inception)
	2010			2009			to May 31, 2010
	Unaudited			Unaudited			Unaudited
Revenues	$	-		$	23,720		$	45,525
Cost of Goods Sold		-			10,617			160,310
Gross Profit	$	-		$	13,103		$	(114,785	)
Operating expenses:
Research and development		-			-			-
Professional, consulting and marketing fees		19,138			500			342,385
Selling, general and administrative expenses		3,336			43,306			412,839
Depreciation and amortization expenses		-			368			2,637
Total Operating Expenses	$	22,474		$	44,174		$	757,861
Operating Loss		(22,474	)		(31,071	)		(872,646	)
Other Income, net		63,873			-			177,900
Investment income, net		-			200			300
Interest Expense, net		-			-			-
Income(Loss) before taxes		41,399			(30,871	)		(694,446	)
Income(Loss) tax expense		-			-			-
Net Income(Loss)	$	41,399		$	(30,871	)	$	(694,446	)
Net Income(Loss) per common share-Basic	$	(0.00	)	$	(0.00	)	$	(0.02	)
Net Income(Loss) per common share-Diluted	$	(0.00	)	$	(0.00	)	$	(0.02	)

CONDENSED STATEMENT OF STOCKHOLDERS EQUITY

FOR THE PERIOD ENDED AUGUST 31, 2010

									Deficit
									Accumulated
							Additional		During the			Total
	Common Stock						Paid-in		Development			Stockholders'
	Shares			Amount			Capital		Stage			Equity

February 28 , 2008		-		$	-		$	-	$	-		$	-

Issued common stocks to founder for cash and subscriptions receivable on 2/28/08		50,000,000			50,000			-		-			50,000

Issued common stocks to Williams
for services rendered on 2/28/08		2,000,000			2,000			-		-			2,000

Net loss for the period
ended February 29, 2008		-			-			-		(6,534	)		(6,534	)
Balance, February 29 , 2008		52,000,000		$	52,000		$	-	$	(6,534	)	$	45,466

Issued common stocks for compensation expense @0.05 per share on 3/21/08		100,000			100			4,900		-			5,000

Issued common stocks for
cash @0.05 per share		150,000			150			7,350		- -			7,500

Issued common stocks for services
rendered @0.05 per share		3,240,000			3,240			158,760		- -			162,000

Cancellation of shares by
founder for no consideration		(20,010,000	)		(20,010	)		20,010		- -			-

Contributed capital		-			-			75,000		- -			75,000

Net loss for the period
ended February 28, 2009		-			-			-		(600,586	)		(600,586	)
Balance, February 28, 2009		35,480,000			35,480			266,020		(607,120	)		(305,620	)

Contributed capital		-			-			56,250		-			56,250

Net loss for the period ended February 28, 2010		-			-			-		(128,725	)		(128,725	)
Balance, February 28, 2010		35,480,000			35,480			322,270		(735,845	)		(378,095	)

Net income for the six months ended August 31, 2010		-			-			-		21,750			21,750
Balance, August 31, 2010		35,480,000		$	35,480		$	322,270	$	(714,095	)	$	(356,345	)

See notes to unaudited condensed financial statements.

INTERNATIONAL DEVELOPMENT AND ENVIRONMENTAL HOLDINGS

(A Development Stage Company)

~~STATEMENT~~CONDENSED STATEMENTS OF ~~STOCKHOLDERS EQUITY~~CASH FLOWS

FOR THE PERIOD ENDED MAY 31, 2010

							Cumulative from
	Six Months Ended						February 28, 2008
	August 31,						(Date of Inception)
	2010			2009			to August 31, 2010
	Unaudited			Unaudited			Unaudited
Operating Activities:
Net Income (Loss)	$	21,750		$	(81,835	)	$	(714,095	)
Adjustments to reconcile net income to net cash provided by
Operating activities:
Depreciation		-			736			2,636
Stock issued for legal fees		-			-			2,000
Stock issued for compensation		-			-			5,000
Stock issued for consulting		-			-			162,000
Stock issued for President's contributed capital		-			37,500			131,250
Accounts Receivable		(25,592	)		(3,485	)		(25,592	)
Increase (Decrease) in accounts payable		(105,263	)		35,222			136,243
Increase (Decrease) in credit card payable		-			(4,880	)		-
Increase (Decrease) in accrued expense		12,891			-			12,892
Increase (Decrease) in accrued compensation		-			37,500			-
Increase(Decrease) in deferred revenue		(7,230	)		(500	)		-
Net cash provided by operating activities	$	(103,444	)	$	20,257		$	(287,666	)

Investing Activities:
Property, plant and equipment		-			-			(2,636	)
Net cash provided by investing activities	$	-		$	-		$	(2,636	)
Financing Activities:
Proceeds from issuance of common stock		-			-			32,233
Proceeds from collection of subscriptions receivable		-			-			25,267
Loans from Williams Group		(5,000	)		56,667			73,340
Proceeds from officer loans		128,001			(47,896	)		181,448
Net cash provided by financing activities	$	123,001		$	8,771		$	312,288

Net increase (decrease) in cash and cash equivalents	$	19,557		$	29,028		$	21,986
Cash and cash equivalents at beginning of the period		2,429			(406	)		-
Cash and cash equivalents at end of the period	$	21,986		$	28,622		$	21,986

									Deficit
									Accumulated
							Additional		During the			Total
	Common Stock						Paid-in		Development			Stockholders'
	Shares			Amount			Capital		Stage			Equity
February 28 , 2008		-		$	-		$	-	$	-		$	-
Issued common stocks to founder for cash and subscriptions receivable on 2/28/08		50,000,000			50,000			-		-			50,000
Issued common stocks to Williams for services rendered on 2/28/08		2,000,000			2,000			-		-			2,000
Net loss for the period ended February 29, 2008		-			-			-		(6,534	)		(6,534	)
Balance, February 29 , 2008		52,000,000		$	52,000		$	-	$	(6,534	)	$	45,466
Issued common stocks for compensation expense @0.05 per share on 3/21/08		100,000			100			4,900		-			5,000
Issued common stocks for cash @0.05 per share		150,000			150			7,350		-			7,500
Issued common stocks for services rendered @0.05 per share		3,240,000			3,240			158,760		-			162,000
Cancellation of shares by founder for no consideration		(20,010,000	)		(20,010	)		20,010		-			-
Contributed capital		-			-			75,000		-			75,000
Net Loss for the period ended February 28, 2009		-			-			-		(600,586	)		(600,586	)
Balance, February 28, 2009		35,480,000		$	35,480		$	266,020	$	(607,120	)	$	(305,620	)
Contributed capital		-			-			56,250		-			56,250
Net Loss for the period ended February 28, 2010		-			-			-		(128,725	)		(128,725	)
Balance, February 28, 2010		35,480,000		$	35,480		$	322,270		(735,845	)		(378,095	)
Net Income for period ended May 31, 2010		-			-			-		41,399			41,399
Balance, May 31, 2010		35,480,000		$	35,480		$	322,270	$	(694,446	)	$	(336,696	)

See notes to unaudited condensed financial statements.

INTERNATIONAL DEVELOPMENT AND ENVIRONMENTAL HOLDINGS

(A Development Stage Company)

~~STATEMENTS~~NOTES OFTO ~~CASH~~UNAUDITED ~~FLOWS~~CONDENSED FINANCIAL STATEMENTS

							Cumulative from
	Three Months Ended						February 28, 2008
	May 31						(Date of Inception)
	2010			2009			to May 31, 2010
	Unaudited			Unaudited			Unaudited
Operating Activities:
Net Income (Loss)	$	41,399		$	(30,871	)	$	(694,446	)
Adjustments to reconcile net income to net cash provided by Operating activities:
Depreciation		-			368			2,636
Non-cash portion of share based legal fee expense		-			-			2,000
Non-cash portion of share based compensation expense		-			-			5,000
Non-cash portion of share based consulting expense		-			-			162,000
Non-cash issuances of President's contributed capital		-			18,750			131,250
Receivable		(20,736	)		(2,995	)		(20,736	)
Prepaid expense		(2,500	)		-			(2,500	)
Increase (Decrease) in accounts payable		6,403			14,075			252,909
Increase (Decrease) in credit card payable		-			(5,034	)		-
Increase (Decrease) in accrued compensation		-			18,750			-
Increase(Decrease) in deferred revenue		-			(7,730	)		7,230
Net cash provided by operating activities	$	24,566		$	5,313		$	(154,657	)
Investing Activities:
Property, plant and equipment		-			-			(2,636	)
Net cash provided by investing activities	$	-		$	-		$	(2,636	)
Financing Activities:
Proceeds from issuance of common stock		-			-			32,233
Proceeds from collection of subscriptions receivable		-			-			25,267
Proceeds from officer loans		5,000			5,902			131,788
Net cash provided by financing activities	$	5,000		$	5,902		$	189,288
Net increase (decrease) in cash and cash equivalents	$	29,566		$	11,215		$	31,995
Cash and cash equivalents at beginning of the period		2,429			(406	)		-
Cash and cash equivalents at end of the period	$	31,995		$	10,809		$	31,995

INTERNATIONAL DEVELOPMENT AND ENVIRONMENTAL HOLDINGS

(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

NOTE A- BUSINESS DESCRIPTION

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

The Company is presented as in the development stage as of ~~May~~August 31, 2010. ~~The~~ The Company’s business activities during its development stage consist solely of corporate formation, raising capital, and attempting to secure environmental remediation contracts.

Going Concern

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

NOTE B – SIGNIFICANT ACCOUNTING POLICIES

Development Stage Company

The Company is considered to be in the development stage as defined in FASB ASC Topic 915, “Development Stage Entities”. The Company has devoted substantially all of its efforts to the corporate formation, the raising of capital and attempting to secure environmental remediation contracts.

Basis of Accounting

The financial statements reflect the assets, revenues and expenditures of the Company on the accrual basis of accounting. The Company’s fiscal year end is the last day of February, i.e., February 28th or 29th. The financial statements and notes are presented in accordance with the rules and regulations of the Securities and Exchange Commission and do not contain certain information included in the Company’s Annual Report on Form 10-K for the year ended February 28, 2010. In the opinion of management, all adjustments considered necessary for a fair presentation have been included and are of a normal, recurring nature. Interim results are not necessarily indicative of results for a full year. Therefore, the interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K.

Use of Estimates

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

Cash and Cash Equivalents

The Company considers all highly-liquid investments with an original maturity of three months or less when purchased to be cash equivalents. The company as of ~~May~~August 31, 2010 has approximately $3122,~~955~~000 cash and cash equivalents.

Research and Development

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

Stock-Based Compensation

On December 16, 2004, the Financial Accounting Standards Board (“FASB”) published Statement ASC 718, “Compensation- Stock Compensation”. ASC 718 requires that compensation cost related to share-based payment transactions be recognized in the financial statements. Share-based payment transactions within the scope of ASC 718 include stock options, restricted stock plans, performance-based awards, stock appreciation rights, and employee share purchase plans. The provisions of ASC 718 are effective for small business issuers beginning as of the next interim period after December 15, 2005.

The Company has elected to use the modified–prospective approach method. Stock-based compensation expense for all awards granted is based on the grant-date fair values estimated in accordance with the provisions of ASC 718. The Company recognizes these compensation costs, net of an estimated forfeiture rate, on a pro rata basis over the requisite service period of each vested tranche of each award. The Company considers voluntary termination behavior as well as trends of actual option forfeitures when estimating the forfeiture rate.

The Company measures compensation expense for its non-employee stock-based compensation under the Financial Accounting Standards Board (FASB) ASC 505 “Equity-Based Payments to Non-Employees”. The fair value of the option issued is used to measure the transaction, as this is more reliable than the fair value of the services received. The fair value is measured at the value of the Company’s common stock on the date that the commitment for performance by the counterparty has been reached or the counterparty’s performance is complete. The fair value of the equity instrument is charged directly to compensation expense and additional paid-in capital.

Basic and Diluted Net Loss Per Common Share

The Company computes per share amounts in accordance with FASB ASC Topic 260, “Earnings per Share”. ASC 260 requires presentation of basic and diluted EPS. Basic EPS is computed by dividing the income (loss) available to Common Shareholders by the weighted-average number of common shares outstanding for the period. Diluted EPS is based on the weighted-average number of shares of common stock and common stock equivalents outstanding during the periods.

As of ~~May~~ August 31, 2010, the Company has issued one type of share, i.e., common shares only. There are no other types of securities. Accordingly, the diluted and basic net loss per common share are the same.

Revenues

The Company will recognize revenue from the contracts they enter into for environmental remediation and recognize revenue in accordance with the terms of those contracts. For the ~~three~~six months ended ~~May~~August 31, 2010, no revenue was recognized.

Cost of Goods Sold

For the ~~three~~six months ended ~~May~~August 31, 2010, no Cost of Goods Sold was recorded for the projects performed.

Other Income

For the ~~three~~six months ended ~~May~~August 31, 2010, an amount of $ 6386,~~873~~689 of other income, was ~~primarily~~recorded for the Company, $60,000 relating to extension fees under a merger agreement, and the difference was ~~recorded~~a ~~for the~~result ~~Company.~~of settlements of accounts payable. Other receivables of $20,000 were booked in relation to such ~~extension~~ extension fees.

Accounts Receivable

The Company will extend credit based on an evaluation of a customer’s financial condition, generally without requiring collateral. Exposure to losses on receivables is expected to vary by customer due to the financial condition of each customer. The Company will monitor exposure to credit losses and maintain allowances for anticipated losses considered necessary under the circumstances. The Company has no Accounts Receivables as of ~~May~~August 31, 2010.

Income Tax

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

Accounts Payable

The Company incurred accounts payable relating to professional fees including accounting, audit and review fees, cost of goods sold, rent payable and other service fee payables. As of ~~May~~August 31, 2010, the Company has ~~account~~accounts ~~payables~~payable of $ ~~241~~$136,~~018~~243 and accrued expenses of $612,891.

Operating Expense

For the three months ended May 31, 2010, the company has a total operating expense of $22,474.

Details are listed in Table below:

	Three months Ended
	May 31, 2010
Expense
Miscellaneous		82
Consulting Expense		1,000
Professional Fees
Accounting	$	16,018
Legal Fees		3,120
Total Professional Fees		19,138
Rent		1,704
Telephone		550
Total	$	22,474

Recently Issued Accounting Pronouncements

The following pronouncements have become effective during the period covered by these financial statements or will become effective after the end of the period covered by these financial statements:

Pronouncement	Issued	Title
ASC 815	March 2010	Derivatives and Hedging (Topic 815): Scope Exception Related to Embedded Credit Derivatives
ASC 310	July 2010	Receivables (Topic 310): Disclosures about the Credit Quality of Financing Receivables and the Allowance for Credit Losses
ASC 740 ASC 718	April 2010 April 2010	Income Taxes (Topic 740): Accounting for Certain Tax Effects of the 2010 Health Care Reform Acts (SEC Update) Compensation – Stock Compensation (Topic 718): Effect of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in Which the Underlying Equity Security Trades
ASU No. 2010-21	August 2010	Accounting for Technical Amendments to Various SEC Rules and Schedules Amendments to SEC Paragraphs Pursuant to Release No. 33-9026: Technical Amendments to Rules, Forms, Schedules and Codification of Financial Reporting Policies (SEC Update)
ASC 932 ASC 944	April 2010 April 2010	Accounting for Extractive Activities – Oil & Gas – Amendments to 932-10-S99-1 (SEC Update) Financial Services – Insurance (Topic 944): How Investments Held through Separate Accounts Affect an Insurer’s Consolidation Analysis of Those Investments
ASU No. 2010-22	August 2010	Accounting for Various Topics—Technical Corrections to SEC Paragraphs (SEC Update)
ASC 924	April 2010	Entertainment – Casinos (Topic 924): Accruals for casino Jackpot Liabilities
ASU No. 2010-23	August 2010	Health Care Entities (Topic 954): Measuring Charity Care for Disclosure—a consensus of the FASB Emerging Issues Task Force
ASC 605 ASC 310	April 2010 April 2010	Revenue Recognition – Milestone Method (Topic 605) Receivables (Topic 310): Effect of a Loan Modification When the Loan is Part of a Pool That is Accounted for as a Single Asset
ASU No. 2010-24	August 2010	Health Care Entities (Topic 954): Presentation of Insurance Claims and Related Insurance Recoveries (a consensus of the FASB Emerging Issues Task Force)
ASC 830	May 2010	Foreign Currency (Topic 830): Foreign Currency Issues: Multiple Foreign Currency Exchange Rates (SEC Update)
ASU No. 2010-25	September 2010	Plan Accounting—Defined Contribution Pension Plans (Topic 962): Reporting Loans to Participants by Defined Contribution Pension Plans (a consensus of the FASB Emerging Issues Task Force)
ASU No. 2010-26	October 2010	Financial Services—Insurance (Topic 944): Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts (a consensus of the FASB Emerging Issues Task Force)

Management does not anticipate that the new accounting pronouncements listed above will have a material impact on our financial statements.

NOTE C – RELATED PARTY TRANSACTIONS

Loans from Officers and Shareholders

We have a loan agreement with two private lenders who have now become our officers and directors to advance us up to $75,000 in stages through September 30, 2009. At ~~May~~August 31, 2010, $~~131~~254,~~788~~789 had been advanced, $58181,~~448~~450 by one ~~officer~~ officer and $73,340 by the other. The originally Due Date is the earlier of: (i) the collection of Receivables by Borrower, (ii) a Change in Control ~~Transaction~~ Transaction of Borrower, or (iii) December 31, 2009. Change in Control means any transaction pursuant to which more than 50% of the voting rights of the stock of Borrower are transferred, directly or indirectly, to any person, firm or entity. Our current officers and directors have waived the due date of the loan and indicated they will continue to provide us funding under the above loan agreement and to increase the amount agreed to be advanced and extend the due date as necessary to continue our current operations.

As of December 1, 2010, for additional consideration consisting of management and legal services, an aggregate of the original $75,000 of the debt above can be converted into common stock with such conversion terms and rights as may be agreed by the parties in the future; provided, however, that the number of shares of common stock to be issued upon conversion shall not exceed the total authorized but unissued shares of common stock at the date of conversion and the conversion price will not be below market price at the date of conversion. Amounts advanced in addition to the $75,000 are not convertible at this time.

Operating Leases

The Company entered into a sublease of office space. The sublease term runs from September 1, 2008 through August 31, 2009 and required the issuance of 10,000 shares of Company common stock as consideration for the entire lease term. This lease is now terminated. The value of the common stock was at $.05 per share or $500. The Company currently utilizes space provided by an officer at no charge.

NOTE D – ~~SHAREHOLDERS~~STOCKHOLDERS’ EQUITY

Common Stock

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

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

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

During the period March 1, 2008 through February 28, 2009, the Company issued an additional 150,000 shares of common stock at $0.05 per share in a private placement raising an aggregate of $7,500, and issued 3,240,000 shares of stock at the $0.05 value for consulting services rendered at a value of $162,000.

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

During ~~the~~ the period of March 1, 2010 to ~~May~~August 31, 2010, the Company issued no additional shares. Therefore, as of ~~May~~August 31, 2010, there were a total of 35,480,000 ~~common~~ common shares outstanding.

Amendments to Corporate Articles of Incorporation

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

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

NOTE E - GOING CONCERN

As shown in the financial statements which have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplates continuation of the Company as a going concern, the Company has incurred operating ~~losses~~income of $2221,~~474~~750 ~~and $31,071~~ during ~~three~~six months ended ~~May~~ August 31, 2010 ~~and 2009~~; and cumulative operating losses of $~~872~~714,~~646~~095 for the period February 28, 2008 (date of inception) through ~~May~~August 31, 2010.

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

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

Management is focusing on collection of potential receivables from past operations, determining how to move forward with existing remediation contracts and taking such other actions as to protect shareholder value, including seeking a business combination with a better capitalized company. For the period February 28, 2008 (date of inception) through ~~May~~August 31, 2010, the Company has revenues of $ 45,525. Management believes that the Company’s continued operations as well as ~~loans~~ loans from officers will provide them with the ability to continue as a going concern.

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

NOTE F – SUBSEQUENT EVENT

Entry into a Material Definitive Agreement.

Acquisition Agreement

On September 16, 2010, pursuant to the terms of an Acquisition and Reorganization Agreement (the “Acquisition Agreement”) by and between the Registrant (the “Company”), Heights Management 63, LLC, a New York limited liability company (“Heights”) and Scott Lieberman, the Company acquired all of the outstanding membership interests of Heights resulting in Heights becoming a wholly-owned subsidiary of the Company.

Redemption Agreement and Promissory Note

On September 16, 2010, pursuant to the terms of a Redemption Agreement (the “Redemption Agreement”) by and between the Company and JTMW Partners (the “Seller”), the Company agreed to redeem and cancel 30,710,00 shares of the Company’s common stock owned by the Seller for a total of $510,000. In connection with the Redemption Agreement, the Company issued a secured promissory note to the Seller (the “Promissory Note”) in the amount of $450,000, payable on or before November 1, 2010. As security for the payment of all amounts due under the Promissory Note, the Company pledged its ownership interest in its Heights subsidiary. In addition, our President, Scott Lieberman, agreed to personally guarantee the obligations of the Company under the Promissory Note.

Completion of Acquisition or Disposition of Assets

On September 16, 2010, pursuant to the terms of the Acquisition Agreement, the Company acquired all of the outstanding membership interests of Heights resulting in Heights becoming a wholly-owned subsidiary of the Company.

Pursuant to the terms of the Agreement, as consideration for all of the outstanding membership interests of Heights, the Company issued 8,700,000 newly issued shares of the Company’s newly declared Series A Preferred Stock to the Seller. Each share of Series A Preferred Stock is convertible into and has voting rights equal to fifty (50) days of common stock. Simultaneously, pursuant to the terms of a Redemption Agreement, a total of 30,710,00 shares of the Company’s common stock which were held by the Company’s former majority stockholder.

Notice to Quit

On or about October 15, 2010, the Company’s Heights Management 63, LLC (“Heights 63”) received a “Ten Day Licensee Notice to Quit” (the “Notice”) related to Heights 63’s license to operate its parking facility located at 404-413 East 63rd Street, New York, NY, effective as of October 29, 2010. The Company is negotiating a revocation of the Notice with the landlord of such premises. There can be no assurance given that the Company will be success in its attempts to have the Notice and in the event that the Company is not successful in resolving the outstanding issues with the landlord and Heights 63’s license is terminated, it will have a material, adverse effect on the Company.

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

Forward-Looking Statements

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

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

PLAN OF OPERATIONS

We have engaged primarily in environmental remediation activities.

We were incorporated as Global Enterprise Holdings, Inc. in Nevada on February 28, 2008 and changed our name to International Development and Environmental Holdings on June 16, 2008. We also do business under the name Global Environment Company.

Since inception, we have completed two contracts. The first is Alliance Petroleum in Bedford Park, Illinois and the second contract is Park Forest Marathon in Park Forest, Illinois. In addition, we have over 20 additional contracts which we have not commenced.

An Agreement and Plan of Merger (hereinafter referred to as the “Merger Agreement”) dated as of January 8, 2010 was entered into by and between International Development and Environmental Holdings, a corporation existing under the laws of Nevada (“IDEH”) and Petrocom Energy Limited, a Cayman Islands corporation (the “Target”).

The Closing Date under the Merger Agreement has passed and there is substantial doubt the merger will close.

However, we have continued our operational activities by, among other things, securing the services of counsel and consultants to continue to investigate and prosecute reimbursement claims for our completed projects, negotiating with creditors, assessing our options with respect to our other contracts and continuing to explore all options to enhance shareholder value.

Development Stage Revenues and Expenditures

Development stage revenues during the period from inception on February 28, 2008 to ~~May~~ August 31, 2010 were $45,525. Development stage expenditures during the period ~~from~~ from inception on February 28, 2008 to ~~May~~August 31, 2010 were $~~918~~960,~~171~~636, which ~~consisted~~ consisted primarily of professional, ~~consulting~~ and ~~marketing~~consulting fees of $~~342,~~385,047 and general and administrative expenses of $415,~~476~~279, related to our formation, our registration statement and related expenses of becoming and being a public company and initial operations; and $160,310 in cost of sales related to our operations. Other income during the period inception on February 28, 2008 to ~~May~~August 31, 2010 was $~~178~~201,~~200~~016. This resulted in a net loss since ~~inception~~ inception of $~~694~~714,~~446~~095.

Financial Condition, Liquidity and Capital Resources

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

At ~~May~~August 31, 2010, we had total assets of $5545,~~231~~578 consisting of cash of $3121,~~995,~~986 and receivables of $2025,~~736 and prepaid expenses of $2,500~~592.

At ~~May~~August 31, 2010, our total liabilities were $~~391~~403,~~927~~924, consisting of loans from management, ~~accounts payable~~ and ~~deferred~~accounts ~~revenue~~payable.

Cash Requirements

We intend to provide funding for our activities, if any, through collection of potential receivables from our remediation activities and borrowing from our current officers and directors.

We have a loan agreement with two private lenders who have now become our officers and directors to advance us up to $75,000 in stages through September 30, 2009. At ~~May~~August 31, 2010, $~~131~~254,~~788~~790 had been advanced, $58181,~~448~~450 by one ~~officer~~ officer and $73,340 by the other. The originally Due Date is the earlier of: (i) the collection of Receivables by Borrower, (ii) a Change in Control ~~Transaction~~ Transaction of Borrower, or (iii) December 31, 2009. Change in Control means any transaction pursuant to which more than 50% of the voting rights of the stock of Borrower are transferred, directly or indirectly, to any person, firm or entity. Our current officers and directors have waived the due date of the loan and indicated they will continue to provide us funding under the above loan agreement and to increase the amount agreed to be advanced and extend the due date as necessary to continue our current operations. We have no agreement, commitment or understanding to secure any such funding from any other source.

13We have $0 in cash at October 25, 2010. We are continuing operations by minimizing expenditures to the maximum extent possible and through the forbearance of our creditors. We are focusing on collection of potential receivables from past operations, determining how to move forward with existing remediation contracts and taking such other actions as to protect shareholder value.

We have $26,332 in cash at July 12, 2010. We are continuing operations by minimizing expenditures to the maximum extent possible and through the forbearance of our creditors. We are focusing on collection of potential receivables from past operations, determining how to move forward with existing remediation contracts and taking such other actions as to protect shareholder value.

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

Item 3. Quantitative and Qualitative Disclosure about Market Risk

Not Applicable

Item 4 4T. Controls and Procedures

Evaluation of Effectiveness of Disclosure Controls and Procedures

We carried out an evaluation, ~~under~~required ~~the~~by ~~supervision~~Rule ~~and~~13a-15(b) ~~with~~of the ~~participation~~Securities ofExchange ~~our~~Act ~~management,~~of ~~including~~1934 ~~our~~under ~~principal~~the ~~executive~~supervision ~~officer~~ and ~~principal financial~~with ~~officer, of~~ the ~~effectiveness~~participation of our ~~disclosure controls and~~chief ~~procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act (defined below)). Based upon that evaluation, our principal~~ executive officer and ~~principal~~chief financial officer ~~concluded that, as~~ of the ~~end~~effectiveness of the ~~period~~design ~~covered~~and inoperation ~~this~~of ~~report,~~ our “disclosure controls and procedures” ~~were~~as ~~effective~~of ~~to ensure that information required to be disclosed in reports filed under~~ the ~~Securities~~ ~~Exchange~~end ~~Act~~ of ~~1934, as amended (~~the ~~"Exchange Act") is recorded,~~ ~~processed,~~period ~~summarized~~covered ~~and~~by ~~reported~~this within the required time periods and is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosureReport.

~~Our~~Disclosure ~~management,~~controls ~~including our principal executive officer~~ and ~~principal~~procedures ~~financial officer,~~are ~~does~~designed ~~not~~with ~~expect~~the ~~that~~objective ~~our~~of ~~disclosure~~ensuring ~~controls and procedures or our~~that ~~internal~~(i) information ~~controls~~required ~~will~~to ~~prevent~~be ~~all~~disclosed ~~error~~in oran ~~fraud. A~~issuer’s ~~control~~reports ~~system,~~filed nounder ~~matter~~the ~~how~~Securities ~~well~~Exchange ~~conceived~~Act ~~and operated,~~of ~~can~~1934 ~~provide~~is ~~only reasonable~~recorded, ~~not~~ ~~absolute~~processed, ~~assurance~~summarized ~~that~~and reported ~~the~~within ~~objectives of~~ the ~~control~~time ~~system~~periods ~~are~~specified ~~met. Further,~~in the ~~design~~SEC ofrules aand ~~control~~forms ~~system must reflect the fact that there are~~and ~~resource~~(ii) information ~~constraints~~is accumulated and ~~the~~communicated ~~benefits of controls must be considered relative~~ to ~~their~~ ~~costs. Due to the inherent limitations in all control systems~~management, noincluding ~~evaluation~~our ofPrincipal ~~controls~~Executive ~~can~~Officer ~~provide absolute assurance that all control issues~~ and ~~instances~~Principal ofFinancial ~~fraud~~Officer, ifas ~~any, have been detected. Accordingly, management~~appropriate ~~believes~~to ~~that~~allow ~~the~~timely ~~financial~~decisions ~~statements~~regarding ~~included~~required ~~in this report fairly present in all material respects our financial condition, results of operations and cash flows for the periods presented~~disclosures.

~~Changes in Internal Control Over Financial Reporting~~13

InThe ~~addition,~~evaluation of our ~~management,~~disclosure ~~with~~controls ~~the~~and ~~participation~~procedures ofincluded ~~our~~a ~~Principal~~review ~~Executive~~of our ~~Officer~~objectives and ~~Principal~~processes ~~Financial~~and ~~Officer,~~effect ~~has~~on ~~determined~~the ~~that~~information nogenerated ~~change~~for use in ~~our~~this ~~internal~~Report. ~~control~~This ~~over~~type ~~financial~~of ~~reporting~~evaluation ~~occurred~~will ~~during~~be ordone ~~subsequent~~quarterly toso that the conclusions ~~quarter~~concerning ~~ended~~the ~~May~~effectiveness ~~31,~~of ~~2010~~these ~~that~~controls ~~has~~can ~~materially~~be ~~affected,~~reported orin isour ~~(as that term is~~periodic ~~defined~~reports infiled ~~Rules~~with ~~13(a)-15(f)~~the ~~and~~SEC. ~~15(d)-15(f)~~We ofintend ~~the~~to ~~Securities~~maintain ~~Exchange~~these ~~Act~~controls ofas processes ~~1934)~~that ~~reasonably~~may ~~likely~~be toappropriately ~~materially~~modified ~~affect,~~as ~~our~~circumstances ~~internal control over financial reporting~~warrant.

Based on their evaluation, our chief executive officer and chief financial officer has concluded that our disclosure controls and procedures are not effective in timely alerting him to material information relating to the Company required to be included in our periodic reports filed with the SEC as of the end of the period covered by this Report. There were no changes in our internal control over financial reporting that occurred during our last fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. However, a control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Management necessarily applied its judgment in assessing the benefits of controls relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the company have been detected. The design of any system of controls is based in part upon 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, regardless of how remote. Because of the inherent limitations in a control system, misstatements due to error or fraud may occur and may not be detected. Our internal control over financial reporting was not effective for the following reasons:

The deficiency was identified as the Company’s limited segregation of duties amongst the Company’s employees with respect to the Company’s control activities. This deficiency is the result of the Company’s limited number of employees. This deficiency may affect management’s ability to determine if errors or inappropriate actions have taken place. Management is required to apply its judgment in evaluating the cost-benefit relationship of possible changes in our disclosure controls and procedures.

The deficiency was identified with respect to the Company’s Board of Directors. This deficiency is the result of the Company’s limited number of external board members. This deficiency may give the impression to the investors that the board is not independent from management. Management and the Board of Directors are required to apply their judgment in evaluating the cost-benefit relationship of possible changes in the organization of the Board of Directors.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting (as defined in Exchange Act Rule 13a-15(f)) during the three months ended August 31, 2010, that have materially affected, or are reasonably likely to materially affect our internal control over financial reporting.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 1A: Risk Factors

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

Item 2. Changes in Securities

None

Item 3. Defaults upon Senior Securities.

None

Item 4. (Removed and Reserved).

None

Item 5. Other Information.

None

Item 6. Exhibits

Exhibit Number		Name and/or Identification of Exhibit
31.1		Certification of the Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification of the Chief Executive Officer and Chief Financial Officer pursuant to U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.1		Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

32.2		Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

SIGNATURES

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

	INTERNATIONAL DEVELOPMENT AND ENVIRONMENTAL HOLDINGS
July 15, 2010	By:	/s/ Bernard J. Tanenbaum III
October 25, 2010	By:	/s/ Scott Lieberman
		Bernard J. Tanenbaum III
		Scott Lieberman
		President
July 15, 2010	By	/s/ Michael T. Williams
October 25, 2010	By	/s/ Scott Lieberman
		Michael T. Williams
		Principal Financial and Principal
		Accounting Officer

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