LETTER OF INTENT Page # July 1, 2008Letter of Intent • July 3rd, 2008 • Independent Film Development CORP • Investors, nec
This letter of intent Letter of Intent is made and entered into as of the date above, by and between INDEPENDENT FILM DEVELOPMENT CORPORATION, a Nevada Corporation and subsidiaries (Hereinafter collectively IFDC), and NOT BY SIGHT ENTERTAINMENT, INC., a Nevada corporation whose common stock trades on the Pink sheets under the trading symbol, AECS (hereinafter NBS), and the controlling shareholders of THE NBS FILM (hereinafter “selling shareholders”) and sets forth the basic terms and conditions by which IFDC will acquire shares of preferred stock of NBS and outstanding common stock held by selling shareholders, subject to the consummation of a definitive agreement, as follows:
