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EXCEL - IDEA: XBRL DOCUMENT - Independent Film Development CORPFinancial_Report.xls
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EX-31 - EXHIBIT 31.1 - Independent Film Development CORPex311.htm
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v2.4.0.6
Going Concern
12 Months Ended
Sep. 30, 2012
Going Concern  
GOING CONCERN

NOTE 8: GOING CONCERN

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, which contemplate continuation of the Company as a going concern. The Company has not generated minimal revenue during the period September 14, 2007 (inception) through September 30, 2012, has an accumulated deficit of $5,839,472 and has funded its operations primarily through the issuance short term debt and equity. This matter raises substantial doubt about the Company's ability to continue as a going concern.

These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Accordingly, the Company’s ability to accomplish its business strategy and to ultimately achieve profitable operations is dependent upon its ability to obtain additional debt or equity financing. Management plans to take the following steps that it believes will be sufficient to provide the Company with the ability to continue in existence.

Management intends to raise financing through private equity financing or other means and interests that it deems necessary. The Company, as described above, is in the business of investing in operations of other companies. There can be no assurance that the Company will be successful in its endeavor.