Independent Film Development Corporation Signs Letter of Intent to Acquire Securities of Not by Sight Entertainment, Inc.
9:01a ET July 2, 2008 (Market Wire)
Independent Film Development Corporation (IFDC) announced today that it has signed a letter of intent to acquire 60% of the common stock of portfolio company, Not By Sight Entertainment, Inc. (PINKSHEETS: AECS). Not By Sight is a production company focused on creating family-friendly entertainment, including, but not limited to, producing high-quality feature films, live theatrical stage events as well as producing and promoting new musical talent. IFDC is a business development company with an emphasis on acquisition of securities of portfolio companies engaged in independent film sales, distribution and production, with a goal toward our portfolio companies cooperating with each other to collectively become significant competitors to mini-major studios, such as Lions Gate. IFDC also owns 200 million shares of portfolio company, Imperia Entertainment, Inc. (PINKSHEETS: IMPN).