Indulge me for a minute: what is the least amount of money to make a film? In this day and age of big budget complexity in the movie biz, there’s something incredibly cool about this kind of ingenuity. Pics are being made by shooting video on an iPhone and editing on a desktop. Today, the 25-year-old son of Deadline contributor Ray Richmond is screening a film shot entirely on one of those nifty 4-inch, 6-ounce Flip UltraHD camcorders that cost well under $200. Then writer-director Josh Richmond spent less than $10K on casting, shooting, editing, and producing his first feature, the mystery Diamond Bar. Knowing he couldn’t land a distributor, he hit on the idea of paying a theater to screen it rather than vice-versa. He’s forked over a few hundred bucks to premiere the film on the big screen at the Laemmle Sunset 5 in West Hollywood at 5 PM. UPDATE: Springing up all over are film festivals specifically for micro-budget pics made by young filmmakers. One of them is The YoungCuts Film Festival.