Replies to post #12629 on Independent Film Development Corp. (IFLM)

[THall]

LMAO thats not anything other than a document filed with the clerks office. Lets see one thats actually signed by a Judge stating Theo has no control. Got one of those? LMAO Anyone can file a claim with the clerks office.

Someone needs to tell Jake he is not 51% owner either. 4 billion shares issued to creditors that can all convert due to IFLM being delinquent on financials. Keep buying Jake the note holders love your money LMAO

There are approximately 1,536,000,000 Shares Issued. It appears that there are more than 4 billion shares reserved. Click here for the Reserved Shares Summary as of July 29th, 2019. IFLM does not appear to have issued, authorized, reserved or sold any shares since filing for dissolution.

Independent Film Development Corporation (IFLM) was a publicly registered corporation that filed for Dissolution in 2017. The Company fell behind in its reporting, books and records. A new CEO was installed in June of 2019. The challenge ahead was to finalize the dissolution or successfully revive a company with a controversial history.

The Company is actively bringing the books and records current. The outstanding balance with the Transfer Agent was promptly paid. The legacy CPA has been retained and is actively bringing all accounting current.

IFLM has been defunct and inactive for years. Somehow it has been the target of more than one unauthorized promotional campaign. The company is currently defending a confusing legal claim and will continue to work with regulatory agencies to satisfy filing requirements.

IFLM defaulted on a large amount of debt in 2016 and 2017. Much of this debt was secured by convertible notes. Most of the notes have been reserved with the Transfer Agent. The Company has billions of shares issued or reserved.

The Company has had no revenue for years.

Management has been working against a deadline to reposition the Company and rescue it from dissolution. The plan and effort has been to bring books, records, and filings current, discuss options with creditors, aggressively acquire reserved shares, and inform shareholders. The Company can then satisfy the OTC Markets, have the Stop Sign (now Caveat Emptor) removed, bring in assets, and list with a legitimate brokerage.

Anyone considering purchasing shares in a defunct Company that filed for dissolution, that has no revenue, has significant debts, and billions of shares issued or reserved, should consult with an attorney and understand the inherent risks associated.

[Davis_Elite]

IFLM
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