You read it correct, the actual film is only 1 second long - the rest 90 minutes will show the making of this documentary and scrolling credits at the end of the movie.
Technically, there are 24 frames in one-second of film. In this 1-second film, there will be 12 giant paintings created by hundreds of people. Each painting was then filmed twice (on 70mm) to create the 24 frames in one second of film.
The film is already listed in the IMDb Website. If you join as a producer by contributing as low as $1 via Paypal, your name and site link will be added to the IMDb movie database as a producer of this film.
After the film's premiere, the 12 giant frames will be on exhibit and auctioned off to raise money for the Global Fund for Women. The director hopes to raise a Million dollars for the project. The movie will also be released on DVDs.