FORWARD-LOOKING STATEMENTS

This Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) contains forward-looking statements that involve known and unknown risks, significant uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, or implied, by those forward-looking statements. You can identify forward-looking statements by the use of the words may, will, should, could, expects, plans, anticipates, believes, estimates, predicts, intends, potential, proposed, or continue or the negative of those terms. These statements are only predictions. In evaluating these statements, you should consider various factors which may cause our actual results to differ materially from any forward-looking statements. Although we believe that the exceptions reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.





Business Overview

We were organized under the laws of the State of Nevada on May 7, 2008 under the name "Claridge Ventures, Inc." with an initial focus on the acquisition and exploration of mineral properties in the State of Nevada. On August 6, 2013, we affected a 1 for 4 reverse split of its common stock and changed our name to "Indo Global Exchange(s) PTE. Ltd". We have two wholly-owned subsidiaries: International Global Exchange (Aust) Pty Ltd and PT GriyaMatahari Bali. International Global Exchange (Aust) Pty Ltd is based in Australia and was set up for the purpose of entering into the introducing broker agreement with Halifax. PT GriyaMatahari Bali is based in Indonesia and was set up to allow us to operate in Indonesia under Indonesia law.

On September 23, 2013 (the "Closing Date"), we closed an asset purchase transaction (the "Transaction") with Indo Global Exchange PTE. LTD., a company organized under the laws of Singapore ("Indo Global") and the shareholders of Indo Global ("Selling Shareholders") pursuant to an Amended and Restated Asset Purchase Agreement (the "Purchase Agreement").

In accordance with the terms of the Purchase Agreement, on the Closing Date, the Company issued 43,496,250 shares of its common stock (the "Shares") directly to the Selling Shareholders in exchange for certain assets of Indo Global (the "Assets") including, rights to enter into certain agreements and certain intellectual property. The Company did not acquire any plant and equipment, and any other business and operational assets of Indo Global as part of the Assets, and the Company did not hire any employees of Indo Global. Indo Global continues as an independent company, operating in Singapore after the Transaction.

We plan to operate as a business to consumers, and business to business, to provide services to customers that enable the consumer to access, monitor and manage their investment interests and execute trades when participating in the global financial markets. We will act as the administrator for the client and will monitor any developments on transactions that occur in the accounts of each client as part of our Account Management System.

We are currently in discussions with potential local partners within Indonesia to maximize our business potential and distribution reach. We have entered into Introducing Broker Agreements with Halifax, Axitrader and FxPro to be our execution and clearing partners. We have also entered in to a client referral relationship and services agreement with TodoHakot and have entered into an agreement with Richard Jackson to act as services provider to allow access to his trading signals. We also have a referral services agreement with Kina Securities. We will also have the ability to affiliate with other financial institutions such as banks, financial planners and others in the financial services market. We believe we are in a unique position to capitalize on the Indonesian market and gain a first move advantage to deliver a transparent and customer focused trading solution. Our primary focus will be local middle to high income individuals and businesses within Indonesia whom we may describe as high net worth (those with assets over USD $100,000) estimated at approximately 4.9 million individuals. There are approximately 247 million people in Indonesia, which makes it the 4th most populous country in the world and 2% of the population is described as high net worth; this represents our initial target market. Once established in the Indonesian market, we plan to expand to the Philippines and Malaysia.

The Company generated revenue of $0 and $0 for the three months ended October 31, 2016 and 2015, respectively.

Limited Operating History; Need for Additional Capital

There is limited historical financial information about us upon which to base an evaluation of our performance. We cannot guarantee we will be successful in our business operations.

Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services and products.





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To become profitable and competitive, we have to establish agreements with established service providers and or businesses to enable us to offer these venues to our clientele.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to our existing stockholders.

We anticipate that we will need to meet our ongoing cash requirements through the generation of revenue and equity and/or debt financing. We estimate that our expenditures over the next 12 months will be approximately $869,000 as described in the table below. These estimates may change significantly depending on the nature of our future business activities and our ability to raise capital.





Type                                               Amount       Percent
Salaries                                          $ 145,000     $  16.68 %
Professional services (IT development)               24,000         2.76 %
Equipment                                            30,000         3.45 %

Professional services (lawyers and accountants) 35,000 4.03 % Programming IT development

                           60,000         6.90 %
Office, rent and expenses                           150,000        17.27 %
Travel expenses                                      53,000         5.76 %
Government Fees                                       5,000         .059 %
Seminars                                             85,000         9.77 %
Business Development fees                           145,000        16.68 %
Servers and bandwidth                                15,000         1.72 %
Bank fees and interest                                2,000         .023 %
Administration                                       15,000         1.72 %
Marketing and advertisement                         120,000        13.80 %
Total                                             $ 869,000     $ 100.00 %




RESULTS OF OPERATIONS



Working Capital              At Oct. 31, 2016       At July 31, 2016
Current Assets              $                -     $                -
Current Liabilities                   (486,515 )             (486,515 )
Working Capital (Deficit)   $         (486,515 )   $         (486,515 )




                                                   Three months Ended       Three months Ended
                                                      Oct 31, 2016             Oct 31, 2015
Cash Flows Used provided by Operating Activities   $                (0 )   $            (14,782 )
Cash Flows Provided by Financing Activities                          0                   14,989
Foreign currency translation                                        (0 )                   (207 )
Net Increase (Decrease) in Cash During Period      $                 -     $                  -




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For The Three Months Ended October 31, 2016





Operating Revenues

Revenues for the quarters ended October 31, 2016 and 2015 were $0 and $0, respectively. Revenues generated were the daily spreads on executed trades.

Operating Expenses and Net Loss

Operating expenses for the three months period ended October 31, 2016 was $0 compared with $2,389,242 for the three months ended October 31, 2015. The decrease in operating expenditures was a result of the decreased stock compensation expenses compared to the same period last year.

Net loss for the three months period ended October 31, 2016 was $(0) compared with $(2,389,242) for the three months period ended October 31, 2015. The overall decrease in net loss of $(461,512) was attributed to decreased interest expenses and stock compensation compared to the same period last year.

For The Three months Ended October 31, 2016

Operating Expenses and Net Loss

Operating expenses for the three months period ended October 31, 2016 was $0 compared with $2,389,242 for the three months ended October 31, 2015. The decrease in operating expenditures was a result of the decreased $2,100,000 stock compensation and interest expenses compared to the same period last year.

Net loss for the three months period ended October 31, 2016 was $(0) compared with $(2,389,242) for the three months period ended October 31, 2015.

Liquidity and Capital Resources

As of October 31, 2016, the Company's cash balance was $0. As of October 31, 2016, 2016, the Company had total liabilities of $486,515 and a working capital deficit of $(486,515).

Since our inception, we have used our common stock and promissory notes to raise money for our operations. We have not attained profitable operations and are dependent upon obtaining financing to pursue our plan of operation.

There can be no assurance that we will be successful in procuring the financing we are seeking. Future cash flows are subject to a number of variables, including the level of production, economic conditions and maintaining cost controls. There can be no assurance that operations and other capital resources will provide cash in sufficient amounts to maintain planned or future levels of capital expenditures. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, could limit our ability to expand business operations and could harm our overall business prospects. In addition, we cannot be assured of profitability in the future.

If we are not able to raise sufficient funds to fully implement our startup business plan for the next year as anticipated, we will scale our business development in line with available capital. Our primary priority will be to retain our reporting status with the SEC which means that we will first ensure that we have sufficient capital to cover our legal and accounting expenses. Once these costs are accounted for, in accordance with how much financing we are able to secure, we will focus on market awareness, and servicing costs as well as marketing and advertising to social media marketing websites. We will likely not expend funds on the remainder of our planned activities unless we have the required capital.

Our total expenditures over the next twelve months are anticipated to be approximately $869,000. Our cash on hand as of October 31, 2016 and July 31, 2015 are $(0) and $0, respectively. We have cash saved under related parties' names and it amounted to $0 and $0, as of October 31, 2016 and July 31, 2016, respectively. We do not have sufficient cash on hand to fund our operations for the next twelve months. We also require additional financing.

Cash Flow from Operating Activities

During the three months period ended October 31, 2016, the Company used $0 of cash for operating activities compared with $0 for the three months ended October 31, 2015. The decrease of cash used for operating activities are mainly due to more increase in settlement of debt.





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Cash Flow from Investing Activities

During the three months period ended October 31, 2016 and 2015, the Company paid $0 and $0 in investing activities.

Cash Flow from Financing Activities

During the three months period ended October 31, 2016, the Company has net cash received of $0 from financing activities compared with $0 in financing activities for the same period in 2015. The increased cash from financing activities are because more proceeds from loans from unrelated parties during the three months period ended October 31, 2016 compared to the same period last year.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.





Going Concern

We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive activities. For these reasons, our auditors stated in their report for the three months ended October 31, 2016 that they have substantial doubt that we will be able to continue as a going concern without further financing.





Future Financings

We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund any future business opportunities.





Critical Accounting Policies

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in the notes to the unaudited financial statements included in this Annual Report.





Use of Estimates

The preparation of 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 amounts reported in the financial statements and accompanying notes for the reporting period. Significant areas requiring the use of management estimates relate to the valuation of its business.

Recently Issued Accounting Pronouncements

We do not expect the adoption of any recent accounting pronouncements to have a material impact on its financial statements.





Contractual Obligations

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

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