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EXCEL - IDEA: XBRL DOCUMENT - Independent Film Development CORPFinancial_Report.xls
10-K - FORM 10-K - Independent Film Development CORPiflm.htm
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EX-31 - EXHIBIT 31.1 - Independent Film Development CORPex311.htm
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v2.4.0.6
Statements of Cash Flows (USD $)
12 Months Ended 61 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Cash flows from operating activities:      
Net loss. $ (1,881,717) $ (1,448,150) $ (5,839,472)
Adjustments to reconcile net loss to total cash used in operations:      
Common stock for compensation 25,713 570,000 2,827,713
Common stock for other services 66,459 384,560 451,019
Common stock for Director's fees    38,000 38,000
Loss on settlement of debt 537    537
Amortization expense 31,479    31,479
Loss on impariment of website properties 818,521    (818,521)
Bad debt expense for stock subscription receivable.    70,365 70,365
(Gain) loss on derivative liability 264,027 50,990 315,017
Debt discount amortization 160,704 9,516 170,220
Change in assets and liabilities:      
Increase (decrease) in accounts payable (1,365) 18,228 16,863
Increase (decrease) in accounts payable, related party (3,000) 25,270 22,270
Increase in accrued expenses 125,442 8,824 134,266
Increase in accrued compensation 129,526 218,450 347,976
Net cash used in operating activities (263,674) (53,947) (595,226)
Cash flows from investing activities         
Cash flows from financing activities:      
Cash overdraft 2    2
Cash advances (payment) related party (250) 500 540
Proceeds from debentures 241,050 15,000 256,050
Proceeds from subscriptions receivable       22,660
Contributed capital 13,500    13,500
Advances from officers 9,152 7,837 16,989
Payments to officers (5,002)    (5,002)
Proceeds from the sale of common stock    31,950 290,487
Net cash provided by financing activities 258,452 55,287 595,226
Net increase (decrease) in cash (5,222) 1,340   
Cash at beginning of period 5,222 3,882   
Cash at end of period    5,222   
Cash Paid For Interest         
Cash Paid For Taxes         
Supplemental disclosure of non cash activities      
Website property acquired with convertible debenture 500,000    850,000
Common stock issued for conversion of debt 176,500    176,500
Settlement of derivative liability 186,830    186,830
Debt discount on convertible notes payable 275,183    275,183
Forgiveness of stock payable $ 95,000    $ 95,000