Viratech Corp. (VIRA)

[Stockdon]

NEWS...

So, they have money to purchase the stock of this company but not pay out to investors what the promised or is this some sort of money grab ?

BEVERLY HILLS, CA--(MARKET WIRE)--Jul 2, 2008 -- 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. (Other OTC:AECS.PK - News). 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. (Other OTC:IMPN.PK - News).