IFLM Hires Rachel Boulds as New CFO

IFLM Hires Rachel Boulds as New CFO

LOS ANGELES, Feb. 3, 2012 /PRNewswire/ -- Independent Film Development Corporation (OTCBB: IFLM) an international distributor of digital films and producer to the multi billion dollar Independent Film Industry, announced today that is has hired Rachel Boulds as its new CFO.

From August 2009 to the present, Ms. Boulds has been engaged in her sole accounting practice, preparing full disclosure financial statements for public companies to comply with GAAP and SEC requirements. From August 2004 through July 2009, she was employed as a Audit Senior for HJ& Associates, LLC, where she performed audits and reviews for public and private companies, prepared financial statements to comply with GAAP and SEC requirements, performed analytical procedures and substantive testing for all financial statement accounts, researched, resolved and communicated technical accounting issues, and formulated management recommendations for process and internal control improvements. From 2003 through 2004, Ms. Boulds was employed as Audit Senior for Mohler, Nixon and Williams, planning and performing audits, reviews and compilations, preparing form 550 for filing with the Dept. of Labor, reviewing policies and operating procedures of a company's benefit plan to recommend improvement of operations and insure compliance with the Department of Labor's rules and regulations, prepared financial statements to comply with reporting and disclosure requirements under ERISA, performed analytical procedures and substantive testing for all financial statement accounts, researched, resolved and communicated technical accounting issues, formulated management recommendations for process and internal control improvements, worked closely with third party administrators to coordinate the receipt of necessary information in order to perform audits in a timely manner and meet filing deadlines, and supervised and trained new staff. From September 2001 through July 2003, Ms. Boulds worked as a ABAS Associate for PriceWaterhouse Coopers, providing auditing services to public and private companies, performing analysis and substantive testing on balance sheets and income and expense statement components, reviewed client's revenue recognition policies to see that they were in compliance with relevant accounting standards, reviewed and documented clients' internal control policies and procedures and made recommendations for improvements, supervised and coached new associates, assisted in preparing full disclosure financial statements, provided clients with adjusting journal entries and recommendations to improve procedures, and worked with clients to maximize engagement efficiency and meet reporting deadlines. From April 2000 through February 2001, she was employed as an e Commerce Accountant for the Walt Disney Group's GO.com.

Ms. Boulds, CFO, stated, "I am extremely excited about joining the company. The management team is establishing a phenomenal strategy for the worldwide Indy film market and I feel privileged to be a part of it."

Ms. Boulds replaces Kenneth Eade, the company's prior CFO. Mr. Eade has also resigned from the board of directors. Said CEO Jeff Ritchie, "The board is very pleased to have a CFO of Rachel's caliber and experience on board, and we would like to thank Mr. Eade for his tremendous service, and efforts to take the company public, and wish him well in his future endeavors."

About Independent Film Development Corp.

Based in Los Angeles, California, IFLM is developing a multi- pronged approach to integrate the multi billion dollar independent film market to include web, sales and distribution and development.

Forward-Looking Statements:

This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.

Contact:
Independent Film Development Corp.
Investor Relations
www.iFilmsInc.com
Email Contact: ir@ifilmsinc.com

SOURCE Independent Film Development Corporation

Independent Film Development Corporation

Web Site: http://www.iFilmsInc.com

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