IFD Films & Arts is a film production and distribution company owned by Joseph Lai. Founded in 1974, they claim to have produced 40 films and distributed an additional 30, including the majority of Godfrey Ho's ninja movies.
Godfrey Ho met Joseph Lai in 1973, and sold him the rights to his film Paris Killers. Later, Godfrey went to work for Joseph, and advised him to put more American actors in his films. Thus, Godfrey began his career of chopping up Chinese movies and inserting scenes of American actors.
IFD made a handsome profit from these films, but Godfrey didn't recieve much of it, causing him to leave the company in 1993. After Godfrey left, Joseph Lai used his cut-and-paste method on animated films, including the infamous Space Thunder Kids.
In 1996, the Garley Building fire destroyed the offices of IFD Films & Arts, including all of their paperwork and the master prints of many of their films. Joseph Lai survived the fire and re-opened IFD, though the company has not released any new movies. Supposedly, IFD is still open in Hong Kong and will send brochures and trailers on DVD to interested film distributors.