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Independent Film Development Corp. Announces Reverse Split

Monday, 03 August 2015 08:09 PM

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IRVINE, CA / ACCESSWIRE / August 3, 2015 / Independent Film Development Corp. ("IFLM") (PINKSHEETS: IFLM), a diversified, publicly held real estate and entertainment company, today announced that the Financial Industry Regulatory Authority ("FINRA") has approved the company's 1-for-2500 reverse stock split.

According to FINRA's approval, the reverse stock split will become effective and IFLM's common stock will begin trading on a post-split basis before the open of trading on July 29th, 2015.

"By implementing the reverse stock split, we are executing an important step in our continuing business plan," says Jeff Ritchie, CEO of Independent Film Development Corporation. "As we move IFLM forward, we expect to gain wider market access and further strengthen our positions."

"We believe this strategy will result in better liquidity and attract additional investors to our company. I believe these actions serve to fuel future transactions, which, in turn, will enable us to become a more diversified and valuable company."

At the effective time of the 1-for-2500 reverse stock split, every 2500 shares of issued and outstanding common stock will be converted into 1 share of issued and outstanding common stock. FINRA has received the necessary documentation to announce the below listed corporate action requested:

- IFLM Independent Film Development Corporation and Colonial Stock Transfer Inc.
- 1:2500 reverse split Pre-Split TSO: 1,974,308,644
- Post-Split TSO: 789,723
- New CUSIP: NA
- Daily List Announcement Date: 7/28/2015
- Market Effective Date: 7/29/2015
- Transfer Agent responsible to process corporate action: Colonial Stock Transfer Inc.
- When shares will be available to Transfer Agent: 7/29/2015

For a reverse or forward split, a "D" will be placed on the ticker symbol for 20 business days. After 20 business days, the symbol will revert back to the original symbol.

About Independent Film Development Corp.:

Based in Irvine, California, Independent Film Development Corporation is developing a multi-pronged approach to commercial real estate acquisition and management and digital film creation and distribution.

Safe Harbor Statement

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements.

Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.

For more information please contact:

C. David Pugh, CCO of IFLM
914-763-3229
[email protected]

SOURCE: Independent Film Development Corp.

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