UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 18, 2012
INDEPENDENT FILM DEVELOPMENT CORPORATION
(Exact name of registrant as specified in its charter)
Nevada | 000-53103 | 56-2676759 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
9107 Wilshire Blvd., Suite 405 Beverly Hills, California | 90210 |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant's telephone number, including area code (310) 295-1711
6399 Wilshire Blvd., Suite 507, Los Angeles, California 90048
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 4 - Matters Related to Accountants and Financial Statements
Item 4.02(b) Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
In conjunction with the preparation of the Form 10-Q for Independent Film Development Corporation (the “Company”) for the quarter ending March 31, 2012, the Company was advised by its Independent Auditors on or about May 18, 2012, that the accounting of its derivative financial instruments was not in conformity with the accounting required under generally accepted accounting principles. Specifically, the Company did not properly record its derivative liability and debt discount for each of its outstanding convertible debentures. The application of ASC815, Derivatives and Hedging necessitated the Company’s restatement of its September 30, 2011 balance sheet, results of operations and cash flows for the year then ended. Accordingly, the financial report as originally filed for these periods should not be relied upon. The Company’s authorized officers discussed the matters disclosed in the filing and all items that were amended with its Independent Auditors.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
Exhibit No. | Document | Location |
16.1 | Letter dated June 6, 2012, from M & K CPAS, PLLC to the Securities and Exchange Commission. | Filed herewith |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
INDEPENDENT FILM DEVELOPMENT CORPORATION
(Registrant)
Date: June 6, 2012
/s/ Jeff Ritchie
Jeff Ritchie
Chief Executive Officer and Director
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