SOURCE: Independent Film Development Corporation

August 15, 2008 06:45 ET

Independent Film Development Corporation Appoints New Chief Financial Officer

BEVERLY HILLS, CA--(Marketwire - August 15, 2008) - Independent Film Development Corporation (IFDC) announced today that it has appointed veteran CFO Earl T. Williams as Chief Financial Officer of the Company.

Mr. Williams currently serves as the Chief Financial Officer of Latitude Engineering, Tucson, Arizona, since July 2007. He served as Chief Financial Officer for Library Associates in Beverly Hills, California from November 2003 through July 2007. He was Division Controller for AXT Optoelectronics in Monterey Park, California from November 2001 through November 2003, and served as Vice President of Finance for Allsport Photography, Inc./Getty Images, Inc. in Santa Monica, California from October 1999 through July 2001. Mr. Williams served as a Senior Auditor for Arthur Andersen in San Antonio, Texas and Los Angeles, California from May 1987 through April 1992.

Working in public accounting at Arthur Andersen and in private industry as Controller for several large companies, including Getty Images' Los Angeles Division, has provided a solid foundation on which Mr. Williams has refined his focus on meaningful business metrics and strong financial planning. While at Arthur Andersen, he worked in both the audit practice and the Real Estate Portfolio Services Group, which specialized in performing due diligence on loan portfolios and the financial modeling of large securitization transactions. At Getty Images, he helped consolidate the accounting, facilities and back office operations of several content companies purchased by Getty Images in Los Angeles.

As an owner and Chief Financial Officer of two privately held companies, he has personal experience in mergers and acquisitions along with the related challenges of integrating new organizations within a closely held corporation. Mr. Williams' ability to raise necessary capital as well as define a company's financial direction have been the key to his successful financial engineering.

Mr. Williams holds a B.S. in Business Administration with an emphasis in Accounting from Trinity University (1987) and obtained his CPA certification from the Texas State Board of Public Accountancy.

"We have built a strong foundation for a venture capital firm at IFDC and the addition of Mr. Williams is the cornerstone," said Jeff Ritchie, Chief Executive Officer. "We are extremely pleased and fortunate to have him on the team," he added.


Independent Film Development Corporation ( is a business development company, not limited to but concentrating on investing in and lending management guidance to entertainment related companies with an emphasis on film distribution. Distribution is the largest revenue producing activity in the film industry. IFDC portfolio companies include Signature Entertainment, LLC, a start up film sales and distribution company, Imperia Entertainment, Inc. (PINKSHEETS: IMPN), and IFDC is currently in the process of acquiring 60% of I Not By Sight Entertainment, Inc.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Independent Film Development Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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