well as mentioned, the budget must have been less than an average weeks wages for most movie actors, but a well written and fun ride through the evil underworld.
it starts with the new members for Alpha house, an elite girls sorority in an unnamed university. The girls dabble with a little dark magic they find in the sorority house book, as they descend into evil, most of the girls want out, but not all of them fear what may come.
The acting is very good from the main cast, although I hope they shop assistant didn't get paid for his err contribution, lol. Few CGI graphics in this film, but done well when used. the plot is a little cheesy, but the film doesn't seem to take itself too seriously, so you don't mind it.
If you are looking for a serious horror to scare your pants of, this isn't it, but if you want some light b-grade entertainment, then this is definitely worth a watch.