Precious sweeps the ceremony with five awards including Best Picture.
The Hurt Locker and Up in the Air take home the feature film awards.
Avatar, Star Trek and The Hangover are among the nominated films.
The awards ceremony celebrating independent film will be held on March 5th in Los Angeles.
We have some early details on the hit summer indie film in both formats.
G.I. Joe: The Rise of Cobra drops almost 60% in its second weekend in theaters.