This evening, Red State premiered in front of more than 1,200 people at the Eccles Theatre at the 2011 Sundance Film Festival. As you might have heard, Smith had announced that he would be auctioning the film off following the screening. Not only did that not happen (Smith’s producer jokingly auctioned the film off to Smith himself for a scant $20), Smith also went on a 25-minute diatribe explaining, in mathematical detail, the problems with modern movie distribution and announced his own plans to distribute Red State to the masses.

Hit the jump for all the details.

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