From the desk of: JAKE P.
NOCH
Open Letter to the
Shareholders of Independent Film Development Corp.
OTCMKTS: IFLM
In this open letter to shareholders, I intend to share some of
my future plans for the Independent Film Development Corporation
(OTCMKTS:
IFLM).
Before I get started, I have provided my personal cell phone
number in order to forge long-lasting relationships with IFLM
shareholders. Many shareholders have taken advantage, and, as part
of that process, a question posed by various shareholders was: “Why
did you pick
OTCMKTS:IFLM and not another company?”
The reason is simple: in IFLM, I saw a company that had a lot of
potential. And IFLM, like many other OTC companies, in
my opinion, had simply been mismanaged and used for the
personal gain of management instead of for the benefit of the IFLM
shareholders. The same shareholders –– like you –– who invested,
believed, and put their financial trust into a company only to have
that trust abused and left holding shares of a company with
virtually no liquidity and almost no value. The Webster dictionary
describes value as “a fair return or equivalent in goods, services,
or money for something exchanged.” With that as the stepping stone,
I can understand how and why some investors were skeptical of my
intentions with
OTCMKTS: IFLM, but I want to ensure all shareholders that the
mismanagement and lack of value will end when I formalize my
control through legal process!
I do not expect to receive your trust automatically; I intend to
earn it by bringing value for a change to
OTCMKTS: IFLM and to set an example of how a company can be
brought back from the gates of hell and turned into a company with
value, transparency, and liquidity.
At this point, I know what most of you are thinking, and you are
probably asking yourself, “Is this whole letter going to be some
bullsh*t that is just making empty promises with no real plan that
sounds like a goddam school pep rally that you were forced to go
to?” To answer that question: No, it is not.
I strongly disliked school prep rallies that were intended to
lead students into mindlessly supporting and cheering on student-
athletes for the sole purpose of making people feel good. That is
why I am not asking you to support and cheer me on mindlessly. I am
asking you to please analyze the following business model and the
plan of action I intend to take on behalf of
OTCMKTS: IFLM, and then, if you dislike the model or do not see
value in it, then I am not asking you to support me but to make
your thoughts and voices heard to me.
On the other hand, if you do agree with the model and believe,
like I do, that it will bring value to you as a shareholder of
OTCMKTS: IFLM, then I am asking you to vote for me to become
the Chief Executive Officer and Chairman of the Board during
a shareholders’ meeting that I intend to hold in the near
future after finalizing the legal process currently pending in
Wyoming.
Next, I will lay out my business model for
OTCMKTS: IFLM in bullet points that will include actions, as
well as the goals of each of those actions, before going into the
exact details of each point.
-
Debt restructuring: To ensure that the company is clear
of liabilities and is then able to put assets into the company.
-
Transparency: To earn shareholders’ trust and to increase
shareholder morale/confidence. Frequent weekly, bi- weekly,
monthly, and annual shareholder updates are intended to be
published in order to keep shareholders informed of the company’s
progress, what management is doing, and what stage the company is
in its plan of action.
-
Capital raise: To purchase assets for the company and to
utilize them for the restructuring of outstanding debts of the
company.
-
The purchase of debt portfolio(s): To generate revenue by
outsourcing the collection of the debt portfolios to debt
collectors specializing in debt collection recovery on a
contingency basis.
-
Listings on International qualified on Foreign Exchanges:
To increase the liquidity of the company’s common stock and to
utilize the potential up-listing on the OTC Markets Group before
seeking to do an up-listing on more stable stock exchanges, such as
NASDAQ or the New York Stock Exchange.
-
Dividend and potential stock buyback: A dividend to
shareholders of the company to encourage shareholders to invest
long term in the company common stock as opposed to only being able
to profit from the sale of common stock on the open market or the
option of enrolling into a dividend reinvestment plan. A stock
buyback would be needed if the company fails to restructure the
debt with pre-existing creditors or if the number of
outstanding shares is more significant than the 585,900,000
that is publicly-listed as outstanding to lower the float, to
increase dividend yield, and to increase the price per share, but
in no case will I intend to have a reverse split or dilute the
company’s common stock further.
-
Investment diversification: This is to ensure that the
company is not limited to one single type of investment and to
create ongoing revenue streams, both short term and long term, to
ensure the continuation of increasing revenue for the company, as
well as to limit the effect of any detrimental changes to any
individual sectors or industries.
As part of my plan, if the company raises $1,000,000 of capital,
Independent Film Development Corporation (OTCMKTS:
IFLM) could purchase roughly $442,100,461.97 in debt, or, put
another way, about $0.0025 for every $1 USD of debt. Out of
the $442,100,461.97 of debt, I intend to be able to collect on
at least 10% or higher of the total amount of debt in the portfolio
to generate $44,210,046.19 USD within a reasonable period of time,
which I estimate to be about one year, from the purchase of the
debt portfolio(s). With that in mind, I will have my team solicit
investor(s) for the purpose of purchasing the debt portfolio(s) by
offering those potential investor(s) a priority return on their
initial investment. So, for example, for each $1,000,000 USD for a
total return of $1,000,000 USD in capital and an additional
priority profit for the investor(s) that will not be based on
convertible notes but instead on a percentage-based revenue split
agreement for a revenue split deal on the collections of the debt
portfolios, leaving remaining proceeds estimated to be
approximately $42,710,046.19 USD.
To save on initial expenditures, I intend to have Independent
Film Development Corporation (OTCMKTS:
IFLM) form strategic partnerships with collections firm(s) on a
contingency basis, minimizing the company’s capital expenditures,
payable on revenue collected by them after $1,500,000 USD is
returned to the initial investor(s), then leaving a remaining
profit margin for Independent Film Development Corporation
(OTCMKTS:
IFLM) of approximately $21,355,023.09 USD.
Restructuring debt because I cannot be sure of what
the outstanding creditors of independent film
development corporation OTCMKTS: IFLM will be willing to do,
nor am I able to know the exact number of outstanding shares
of common stock at this time. In addition, I believe the
current number of outstanding shares of common stock is
approximately 585,900,000, but for reassurance (and to kill
the argument of the Ihub basher(s)), I will play devil’s
advocate and will share what my plan would be for the
worst-case scenario. That is based on the Company’s last-filed
Form 10-Q, which states that as of October 14, 2016, OTCMKTS:
IFLM had 585,867,360 shares of common stock outstanding.
https://www.sec.gov/Archives/edgar/data/1425883/000126246316001058/iflm10q.htm.
I hope, by sharing what my plan would be for the worst-case
scenario, that it will bring reassurance to the shareholders that
might be worried about the very unlikely possibility of there being
6 billion shares of common stock presently and actually held
by shareholders –– which I believe would be contrary to what the
company’s public filings say with the Securities and Exchange
Commission.
However, shareholders still should not have to worry as, even if
it was the worst-case scenario, and again, I DO NOT BELIEVE THAT
THIS WILL BE THE CASE, but if this implausible possibility occurs,
I, Jake P. Noch, still presently intend to bring value to
Independent Film Development Corporation,
OTCMKTS: IFLM.
So my plan would be as follows if there were 6 billion shares of
common stock in issuance currently, or if creditors refused to
agree to the restructuring of debt and then converted into shares
of common stock: While I do not believe this will happen or has
already happened, if it is the case that prior management has
wrongfully converted the convertible notes into 6 billion shares of
common stock, I will reserve $10,450,000 USD out of the
$21,355,023.09 USD (arising from any efforts mentioned above) for a
stock buyback on the open market for 5,500,000,000 shares of common
stock at $0.0019 for anyone to have the option to sell their shares
back to the company for the shares to then be retired, leaving the
remaining cash balance of $10,905,023.09 USD and 500,000,000 shares
of common stock. Assuming the company has the funds, and a majority
of the shares entitled to vote approve, I would then intend to seek
approval by the board of directors to issue a special dividend of
$2,000,000 USD for the remaining 500,000,000 shares of common stock
for each share to receive $0.004 USD, leaving the company with a
remaining cash balance of, assuming everything else goes according
to plan, $8,905,023.09 USD and a short-term target price per share
of $0.03871 USD.
During the delay caused by a party that I shall not name, I have
already had my legal team look into the requirements of getting
Independent Film Development Corporation OTCMKTS: IFLM listed on
other qualified exchanges such as the Bombay Stock Exchange in
order to be able to increase liquidity of the company’s common
stock and then to help with an up-listing on the OTC Markets before
looking into the possibility & requirements of up-listing to
NASDAQ or the New York Stock Exchange
Transparency “The primary risks involved in
trading over-the- counter (OTC) stocks stem from lack of reliable
information” - see investopedia.com. To fix the issue of the lack
of transparency, I intend to release frequent
news, financials, & updates on what management is
doing so that Shareholders of Independent Film Development
Corporation (OTCMKTS:
IFLM) will never again have to wonder what is going on.
Furthermore, I intend to make as much as I am legally allowed
public & to cure the Caveat Emptor with the OTC
Markets Group & Restore Independent Film Development
Corporation (OTCMKTS:
IFLM) to Pink Current Information.
Investment diversification “Diversification can
be neatly summed up as, “Don’t put all your eggs in one basket.”
The idea is that if one investment loses money, the other
investments will make up for those losses. Diversification can’t
guarantee that your investments won’t suffer if the market drops.
But it can improve the chances that you won’t lose money, or that
if you do, it won’t be as much as if you weren’t diversified.” -
www.investor.gov.
To ensure Independent Film Development Corporation
(OTCMKTS:
IFLM) has diversifications in its portfolio I want to
make clear that I do not plan to limit Independent Film Development
Corporation (OTCMKTS: IFLM) to just Debt Portfolio(s) other
investment types that I intend to have Independent Film
Development Corporation (OTCMKTS: IFLM) take will be
activist position(s) in other publicly traded companies as well as
smaller position(s) in other publicly traded companies. Other
investments I intend for Independent Film Development
Corporation (OTCMKTS: IFLM) to enter into include but are not
limited to ETFs, Forex, Futures, Bonds, & Private Equity. I
believe with this mix of diversification Independent Film
Development Corporation (OTCMKTS: IFLM) will be able to generate
both short term & long term recurring revenue that once
established, I intend to distribute a portion of that revenue as a
recurring monthly dividend to shareholders of Independent Film
Development Corporation (OTCMKTS: IFLM) common stock.
Corporate governance, If I Jake P. Noch am elected as
Chief Executive Officer and Chairman of The Board I intend to
appoint competent and experienced directors with varying experience
to be on the board alongside me of Independent Film Development
Corporation (OTCMKTS:
IFLM).
Forward-Looking Statements, Disclaimers, No Advice.
Certain statements and information in this press release are
forward-looking statements and may contain forward-looking
information within the meaning the Securities Act of 1933 and the
Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All statements, other than statements of
fact, included in this open letter, including, without limitation,
statements regarding potential future plans and objectives of the
company, are forward-looking statements based on our current plans
and expectations and are subject to risks, uncertainties, and
assumptions. These statements are, in effect, my attempt, as an
outsider, without current access to the company’s books and
records, to predict future events, and thus are subject to various
risks and uncertainties. Readers should not place undue reliance on
my forward-looking statements, which reflect my view only as of the
date hereof and based on the limited information presently availble
to me. All statements, other than statements of historical fact,
regarding financial position, business strategy and plans and
objectives for future operations are forward-looking statements.
When used in this report, the words “anticipate,” “believe,”
“estimate,” “expect,” and “intend” and words or phrases of similar
meaning, as they relate to the company are intended to help
identify forward- looking statements. Although we believe that my
expectations as reflected in forward-looking statements are
reasonable, I cannot assure readers that those expectations will
prove to be correct. IN THAT REGARD, NO PERSON OR ENTITY SHOULD
RELY ON ANY INFORMATION CONTAINED IN THIS OPEN LETTER TO MAKE OR
NOT MAKE ANY DECISION, INCLUDING WITH RESPECT TO THE COMPANY. Since
I don’t yet have
access to the company’s books and records, various factual
statements about it may be inaccurate or incomplete, as I have
relied on publicly available information and others, including
company management, have disputed my understanding of such
information. In other words, you assume all risk in trading on any
statement contained herein and all information herein is without
warranty and is „as is“ – no warranty, whether express or
implied.
This open letter is for informational purposes only, you should
not construe any such information or other material as legal, tax,
investment, financial, or other advice. Nothing contained herein
constitutes a solicitation, recommendation, endorsement, or offer
by any individual or entity to buy or sell any securities or other
financial instruments in this or in in any other jurisdiction in
which such solicitation or offer would be unlawful under the
securities laws of such jurisdiction. This open letter is of a
general nature and does not address the circumstances of any
particular individual or entity. Nothing in this open letter
constitutes professional, legal, tax and/or financial advice, nor
does any information herein constitute a comprehensive or complete
statement of the matters discussed or the law relating thereto. You
should consult with your own advisers prior to making any decision
relating to the subject matter hereof. I am not a fiduciary by
virtue of any person’s or entity’s use of or access hereto. Each
reader alone assumes the sole responsibility of evaluating the
merits and risks associated with the use of any information herein
before making any decisions based on such information. To the
maximum extent permitted by law, I disclaim any and all liability
in the event any information, commentary, analysis, opinions,
advice and/or recommendations prove to be inaccurate, incomplete or
unreliable, or result in any investment or other losses. In
exchange for reading this open letter, you agree not to hold me or
my affiliates, agents, representatives, advisers, heir or executors
liable for any possible claim for damages arising from any decision
you make based hereon. YOUR USE OF ANY INFORMATION ON THIS OPEN
LETTER IS AT YOUR OWN RISK.
Accordingly, these forward-looking statements should be
evaluated with consideration given to the many risks and
uncertainties that could cause actual results and events to differ
materially from those in the forward-looking statements including
those risks set forth in periodic filings with the Securities and
Exchange Commission. There can be no assurance that such statements
will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements.
New risks emerge from time to time. It is not possible for
management to predict all such risk factors or to assess the impact
of such risks on our business which could prevent the prompt
implementation of any strategically significant plan(s) outlined
above. Accordingly, I undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise, after the date of this
release.
SOURCE
Jake P. Noch
https://jakenoch.com
investors@ProMusicRights.com
+1(239)537-4095
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