Effective June 5, 2013, Jeff Ritchie resigned as Chief Executive Officer of Independent Film Development Corporation and was replaced by George Ivakhnik as Interim Chief Executive Officer. Mr. Ritchie will stay on as Chief Operating Officer and director. George Ivakhnik has served as the Chief Executive Operator and Chief Investment Officer of 51/49 Group Inc. since its inception in April 2013.

Since 2008, he has served as the Chief Executive Officer of Trust Deed Gallery, the Chief Investment Officer of ARM Fund, the Chief Investment Officer of Pacific Marilyn Fund, the Chief Executive Officer of and the Chief Executive Officer of LAREIT and the Chief Executive Officer of Mobile Star Corp.