SOURCE: Imperia Entertainment, Inc.

April 22, 2008 14:29 ET

Independent Film Development Corporation Registration Statement Goes Effective

BEVERLY HILLS, CA--(Marketwire - April 22, 2008) - Imperia Entertainment, Inc. (PINKSHEETS: IMPN) announced today that its parent company's, Independent Film Development Corporation (IFDC), Registration Statement filed with the Securities and Exchange Commission has been declared effective, paving the way for commencement of operations as a business development company (BDC). IFDC's plan of operations is to acquire the securities of portfolio companies engaged in independent film sales, distribution and production, with a goal toward our portfolio companies combining management, contacts and financing to become a significant competitor to mini-major studios, such as Lions Gate. www.independentfilmdevelopment.com.

Interested parties can join daily investors' roundtable discussions with management at 1:30 p.m. Pacific Time, daily, by calling 1-605-990-0700, and entering access code 444636#.

ABOUT IMPERIA ENTERTAINMENT

Imperia Entertainment, Inc.'s (www.imperiaentertainment.com) plan of operations emphasizes three main areas of film production and finance: Co-financing projects with A-List talent attached, acquiring product in the development stage, and its own film production. This, coupled with film distribution through IFDC's new film distribution subsidiary, makes up the new revenue model for the Company. The Company will emphasize not only new projects with A-List talent attached, but also its own library of feature films and television programming, including, "Say It In Russian" starring Faye Dunaway, the award-winning "Autograph" television series, "The New Three Stooges," and seven other television movies.

ABOUT INDEPENDENT FILM DEVELOPMENT CORPORATION

Independent Film Development Corporation (www.independentfilmdevelopment.com) is a business development company, concentrating on investing in and lending management guidance to film-related companies with an emphasis on film distribution. According to materials filed with the SEC, "Given the capital intensive process of making films, management believes that the company may be able to target companies which have run into financial difficulties, provide management and production services and capital, and save these companies and their works in progress, while at the same time acquiring large equity positions. Management also believes that there are opportunities to acquire small distribution companies and conglomerate them under common management. Distribution is the largest revenue producing activity in the film industry."

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 Imperia Entertainment, Inc. 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.

Contact Information

  • Contact:
    Imperia Entertainment, Inc.
    Jeff Ritchie
    310-275-0089
    Email Contact