IndieVest

The company used a membership-based platform for financing film projects. The company served high-net-worth individuals and institutional investors.{{Cite web|url=http://southflorida.bizjournals.com/southflorida/stories/2009/04/06/smallb1.html|title=IndieVest seeks investors for independent feature films - South Florida Business Journal|website=South Florida Business Journal|access-date=2018-01-19}} Members paid a fee of either $2,950 or $4,950 yearly along with a 10% syndication fee. Members were given film pitches to choose from, with a minimum investment of $50,000.{{Cite news|url=https://www.forbes.com/2009/09/11/indievest-movies-hollywood-business-entertainment-indievest.html#3b7c4a933a25|title=So You Want To Be A Hollywood Mogul?|last=Hessel|first=Evan|work=Forbes|access-date=2018-01-19|language=en}}

IndieVest documents promised investors a full return on investment, plus a preference payment of 15%. IndieVest stated that investors were to be paid out before the company profited.

IndieVest Pictures, a subsidiary of IndieVest, started production on their first film, Saint John of Las Vegas, in August 2008.{{Cite news|url=https://www.wsj.com/articles/SB122324814060306049|title=High-Risk Glamour: A Piece of an Indie Flick|last=Sanders|first=Peter|date=2008-10-07|work=Wall Street Journal|access-date=2018-01-19|language=en-US|issn=0099-9660}} The film is a buddy comedy featuring Steve Buscemi, Romany Malco, Sarah Silverman, and Tim Blake Nelson. Filming took place in New Mexico and Las Vegas. Saint John was released in January, 2010. The film received $21,666 in its opening weekend at #50 and reportedly the domestic box office receipts totaled just over $100,000.{{cite web|url=http://www.boxxoficemojo.com/movies/?page=weekend&id=saintjohnoflasvegas.htm|title=Saint John of Las Vegas (2010) – Weekend Box Office Results|publisher=Box Office Mojo|accessdate=2010-02-12}}{{Dead link|date=January 2020 |bot=InternetArchiveBot |fix-attempted=yes }}{{cite web|url=https://www.the-numbers.com/movies/2010/SJOLV.php |title=The Numbers - Box Office Data|publisher=The-Numbers|accessdate=2012-10-12}} The film received mostly negative reviews, with a 17% rating with 6 "fresh" ratings and 30 "rotten" on Rotten Tomatoes.{{cite web|url=http://www.rotten-tomatoes.com/m/saint_john_of_las_vegas/|title=Saint John of Las Vegas Movie Reviews, Pictures – Rotten Tomatoes|publisher=Rotten Tomatoes|accessdate=2010-02-12}}{{Dead link|date=January 2020 |bot=InternetArchiveBot |fix-attempted=yes }} Chris Nashaway of Entertainment Weekly called the film "Excruciatingly awful" and "a shaggy road movie to nowhere".{{cite book|title=Entertainment Weekly February 5, 2010 pg. 50}}

In July 2010, IndieVest started filming a second movie, Knights of Badassdom, an American comedy horror film,{{cite web|url=https://www.dreadcentral.com/news/38353/official-synopsis-joe-lynchs-knights-badassdom |title=Official Synopsis: Joe Lynch's Knights of Badassdom |publisher=Dreadcentral.com |date= |accessdate=2010-12-06}} directed by Joe Lynch,{{cite web|url=https://www.bloody-disgusting.com/news/20547 |title='Terminator' Hottie Summer Glau Battles Heavy Metal Demons in 'Knights of Badassdom'! |publisher=Bloody-disgusting.com |date= 11 June 2010|accessdate=2010-12-06}} written by Kevin Dreyfuss and Matt Wall.{{cite web|url=https://www.bloody-disgusting.com/news/20518 |title='Community' Funnyman Grabs His Sword for 'Knights of Badassdom'! |publisher=Bloody-disgusting.com |date= 9 June 2010|accessdate=2010-12-06}} The film was shelved and significantly re-cut by Bradley; Lynch later stated that this was a violation of their contract.{{Cite news|url=https://www.bleedingcool.com/2013/03/04/buyers-beware-thats-a-butchered-version-of-knights-of-badassdom-youre-being-offered/|title=Buyers Beware - That's A Butchered Version Of Knights Of Badassdom You're Being Offered - Bleeding Cool News And Rumors|date=2013-03-04|work=Bleeding Cool News And Rumors|access-date=2018-01-19|language=en-US}} On March 4, 2013 updates reported that the film was screened March 5, 2013 to potential buyers in Los Angeles.{{cite web|url=https://www.dreadcentral.com/news/64300/joe-lynchs-knights-badassdom-being-held-greed-and-stupidity |title=Joe Lynch's Knights of Badassdom Being Held Up by Greed and Stupidity'! |publisher=Dreadcentral.com |date=2013-03-04 |accessdate=2013-03-04}} On July 25, 2013, it was announced that Entertainment One had bought the North American distribution rights to Knights of Badassdom with Wade Bradley negotiating the deal for IndieVest Pictures.{{cite web|url=https://deadline.com/2013/07/knights-of-badassdom-entertainment-one-acquisition-549050/|title=EOne Acquires Indie Comedy 'Knights Of Badassdom'|date=2013-07-25|publisher=Deadline Hollywood|access-date=2013-07-25}}

On July 23, 2013, the Financial Industry Regulatory Authority (FINRA) settled a regulatory complaint against Wade Bradley, who provided a statement of mitigating circumstances and neither admitted nor denied the findings . The penalty was a thirty-day suspension associating with any FINRA-member organization, and a $7,500 fine (payable if he re-registers with a FINRA firm).[http://www.finra.org/sites/default/files/fda_documents/2011025780101_FDA_D810082.pdf FINRA Disciplinary Proceeding #2011025780101]

In 2013, several IndieVest investors launched an arbitration filing with FINRA against IndieVest and Bradley seeking $1.6 million to be returned to them.{{Cite news|url=https://www.latimes.com/entertainment/envelope/cotown/la-et-ct-bradley-media-society-20140812-story.html|title=Film entrepreneur draws mixed reviews – LA Times|last=Miller|first=Daniel|work=Los Angeles Times|access-date=2018-01-19|language=en-US}}{{Cite news|url=https://www.forbes.com/sites/zackomalleygreenburg/2014/12/10/panning-for-silver-screen-gold-how-to-invest-in-films/#6e18382424de|title=Panning For Silver Screen Gold: How To Invest In Films|last=Greenburg|first=Zack O'Malley|work=Forbes|access-date=2018-01-19|language=en}} The investors alleged that Bradley illegitimately withdrew their funds from escrow despite the fact that the minimum amount had not been reached to break escrow. Bradley stated that he had believed that the minimum amount had been reached at the time he withdrew the funds. The investors alleged that Bradley's company Media Society, founded in late 2012 about seven months after IndieVest became dormant, was a successor entity that should have borne IndieVest's liabilities. Bradley responded that Media Society was a separate entity and not connected to IndieVest.

In fall 2013, Comen VFX, a visual effects company, was awarded $119,649 in an arbitration judgement against IndieVest, after it was found that IndieVest had not paid for work performed on Knights.

{{Reflist}}

• [http://www.indievest.com IndieVest]
• [https://www.variety.com/article/VR1117957739.html?categoryid=1043&cs=1 IndieVest Launches Production Company]
• [https://web.archive.org/web/20110711061802/http://www.fwbusinesspress.com/display.php?id=7956 Fort Worth investment platform targets independent-movie sector]

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Category:Mass media companies established in 2004

Category:Film production companies of the United States

Category:Companies based in Los Angeles