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HE TOOK ME FOR A BIG PART OF MY SAVINGS -HOPE HE GETS WHAT HE DESERVES -BUT THEY CAN NOT SEEM TO CORNER HIM --IMO
Lawsuit
Esther Pichardo individually and as Assignee of Dawn Berndt, and Greater Dallas Diamonds, LLC
-vs-
Edward Vakser, Tradestar Resources Corporation, and Artfest International, Inc.
Case Type: Contract - Debt/Contract - Fraud/Misrepresentation
Date Filed: 05/03/2013
https://odyssey.tarrantcounty.com/CaseDetail.aspx?CaseID=4877460
ARTFEST was revoked in Nevada and by the SEC. Then Vakser re-incorporated a company by that name in Wyoming on June 6, 2013 (Click here). Does the fact that this suit was filed on 05/03/2013 mean that Eddie Vakser was caught without having any corporate shield and, therefore, is personally liable?
It IS the next ARTS....LOL!
ProTek Capital, Inc.(PRPM), acquires Artfest International, Inc.
http://ih.advfn.com/p.php?pid=nmona&article=57997773&symbol=PRPM
ProTek Capital, Inc., acquires Artfest International, Inc.
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Alert
Protek Capital, Inc. (PL) (USOTC:PRPM)
Intraday Stock Chart
Today : Friday 14 June 2013
DALLAS, June 14, 2013 /PRNewswire/ -- Artfest International, Inc., and ProTek Capital, Inc. (OTC Pink: PRPM) ("the Company") announces today that the management of both companies reached a definitive agreement on the structure and share exchange. ProTek Capital Inc., will acquire Artfest International by paying a dividend to all Artfest shareholders with ProTek shares on a one to one exchange. In addition, ProTek agreed to issue a special series of preferred shares for the exchange to those shareholders who wish to surrender their common shares for the preferred. This exchange will have a final record date for completion of September 30th, 2013. The preferred exchange will also be offered to current ProTek shareholders for the purpose of reducing the outstanding shares.
In addition, the management wishes to report several new updates and achievements in milestones of development to move the company further in its Endeavour to complete the business plan.
ProTek Capital recently has engaged a PCAOB CPA as a new Auditor, and will have corporate attorney assist with the SEC compliance and begin the process of filing for the S1 registration. This is a strategic development to have the company to move the status from a PINK SHEET to a fully reporting OTCQB issuer. The company added an additional management staff in order to facilitate the smooth transition to the next trading level, and to ensure that the company is always in full compliance and fully reporting to the SEC.
ProTek Capital Management is proud to introduce several new additions to the management team. Mr. Rick Toussaint will assume the role of the CFO. Mr. Toussaint brings an incredible resume in the public arena, having managed several public companies and a host of private enterprises. The role of the Treasurer and Comptroller will be handled by Mr. Scott Tassan, who has a BS in science and business administration. And finally, the new Chairman of the board will be Mr. Clark Ortiz.
"The incredible talent of our executive group and their impressive resume's are just the tip of the phenomenal creative and productive structure that is being built at ProTek Capital. Our investment group is focused on establishing a great management while developing a transparent fully reporting vehicle that will enable us to fulfill our business plan. Some of the executives have been involved with our other groups, and have a proven track record for competency, loyalty and success," stated Edward Vakser, ProTek President/CEO.
This recent development will enable ProTek Capital to have access to institutional investors, create a greater vote of confidence with the current shareholder base and increase the company's ability for larger acquisitions.
Several new acquisitions and strategic partnerships have been negotiated and are in the final stages of completion.
"PRPM is proud to announce an agreement with iPoint TV to distribute and sell its Set Top Boxes and technologies under the brands 'TVuer' and 'OmniBox'. OmniBox has a distribution agreement with Radio Shacks nationwide and is presently in talks with various electronic stores. The TVuer and OmniBox sell for $99-$149 and offer a $24.95 monthly cable service delivered through the Smart Applications which come preinstalled in the box. Market Research Reports Biz announced the global Set Top Boxes market will reach $15.6 billion by 2018. iPoint TV presently has offices in the USA, UK, India and South America. The relationship with PRPM and our iPoint TV companies will offer a huge value to our future income. The STB sales and monthly subscriptions will offer a monthly residual income to PRPM and should add incredible shareholder value. More information of the product offered by iPoint TV, please visit www.iPoint.tv and www.OmniBoxTV.com," stated Clark Ortiz Chairman of ProTek, and CEO of 3D Entertainment Holdings Inc.
The new acquisition of Artfest International will result in an addition of more assets and an overall share reduction of ProTek outstanding shares.
The acquisition of ArtFest's assets includes the following businesses, including inventory, equipment, client lists, software, websites, domain names, and the like of: Artfest International, Inc.; Starfest Direct Inc. – a ecommerce and direct sales platform; shares and interests in PBS Holding Inc. (PBHG ); and Tradestar Resources (TSRR), (the "ArtFest Companies"). The ArtFest Companies are expected to produce approximately $3.0 million in sales for 2013.
Upon the acquisition and share exchange being completed, the major shareholders of Artfest International agreed to take their exchange in preferred shares, so as to avoid a massive share increase, and instead, actually achieve a decrease in the overall outstanding of ProTek capital. Simultaneously, many of the ProTek "insiders" and major shareholders will convert their common shares to a preferred class, and therefore contribute to the overall reduction of the OS.
About ProTek Capital, Inc.: ProTek Capital, Inc., www.protekcapital.com, is organized and focused on funding and acquisitions of software and mixed media companies, specifically focused in the social media and entertainment industries. ProTek Capital is restructuring its current board and management in order to accommodate our recent acquisitions and to position ourselves to make additional acquisitions that will be accretive to the Company's financial position and future growth plans. Each new acquisition is also targeted to complement and support each of the operating companies in a fashion that can benefit from centralized management, pooled resources, and by having a comprehensive mix of "in-house" services and product offerings that can be utilized throughout the organization.
Forward-Looking Statements:
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company. All such forward-looking statements are, by necessity, only statements of intentions or desired outcomes. Actual events and results achieved by the Company may differ materially from these statements due to a number of factors. Statements made in this document that are not purely historical are forward-looking statements. Risk factors that may cause results to differ from expectations include the inability of the Company to secure funding on acceptable terms or any terms at all, the inability to complete the acquisition of the ArtFest Companies, the inability to secure new clients and grow sales or maintain our current clients and sales, and the loss of key executives. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements.
For more information: Edward Vakser ev24903@gmail.com or call: 214-418-6940
SOURCE ProTek Capital, Inc.
Copyright 2013 PR Newswire
THANX FOR THE MEMORIES...LUXOR International From Rhupert being the next Barney, Kinkade's Collection, Artfest Direct ( Starfest Direct), The ART TV Channel, PBHG, TSRR, Women's Football League, Pat Summerall Films from his Bankrupt Production Company that has yet to see the Light of Day, The Brand New State of The Art Studios aka MAXIMEDIA STUDIOS ( The Real Owners), THE DIVIDENDS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!, AND LAST BUT NOT LEAST....THE PICASSO WOODEN DUMMY. My experience with ARTS was a Learning lesson in trading Stinky Pinkys and I owe it all to the Super Genius...Awbedee Awbedee Awbedee Thats All Folks!!!!!.......eddie was working very hard at ARTS. Looky Here>>>>>> I know its been a long time since my last update. However, I wanted to make sure that things were progressing to the point where an update was both relevant and timely for the events and achievements that we can disclose....
Updates:
.....1. ARTS signed an engagement letter with Gene Egeberg, who have been auditing ARTS for the past 3 years. We believe that barring any unforeseen issues, we should be able to file by year end 2012.
2. ARTS is in possession of direct communication with FINRA, stating that our dividend request was denied due to ARTS not being a "current" filer. And that ARTS can re-submit the dividend issuance corporate action request as soon as the company achieves "current" status. ( we, the management believe that we can submit, and receive an approval for the Q1, 2013.).....
......4. ARTS successfully spun off PBHG and TSRR. As opposed to have "private" companies in the portfolio, we now have public companies, that at today's prices combined will show as at least a $ 16.3 million ARTS assets. (see market caps for each company)......
.......7. I was able to get behind a technology funding group Protek Capital Inc., (PRPM). We have several major acquisitions lined up , and I'm an interim CEO till acquisition is completed. This is strategic acquisition that will benefit ARTS investors. How? We will supply the funding sources for projects, without using "toxic" financing which will enable both companies grow, and not dilute its shareholder base...........
......Here are some of the direct Questions that I get:
Q: 1. Is Artfest out of business?
A: 1. No, we scaled down our operations in anticipation of full completion of our 2011 audit, and get back into OTCBB fully reporting status.
Q: 2. Is the management anticipating a stock reverse split?
A: 2. No, we are not considering a split. Last split that we approved, was for the purposes of filing with American Stock Exchange so that we could trade on the big boards.
Q: Is the Picasso project/deal still "in play"? And what is the status?
A: Yes, we have a third party ARTS investor who is holding the piece under contract, pending our trading status going back to Current filings.
Q: Why was Picasso registered as a "0" dollar value on the books?
A: When we signed the original contract with the seller, we relied on an appraisal that ranged between seven and fifteen million dollars. The management wanted an updated appraisal, that was less than 6 months old, however, the increased pressure and threats that were sent and verbally communicated with the appraiser, forced her to not update the original appraisal. The Art community is very small, and in light of ARTS 5 day suspension, we decided to wait, before we resume our pursuit of getting the piece authenticated and appraised.
Q: Why is the management pursuing the Picasso deal, when it seems simple to just abandon a deal that created so much negative publicity and heat on both the ARTS company and Its CEO?
A: I came from art and music background, that was based on video and content productions.........
.....Q: Why not just let an auction house such as Southey's or similar , just appraise it and see what happens? Or just let the Picasso estate authenticate it?
A: Several reasons. When you do it prematurely, without your own DD , you will not only lose most of the value, but once a piece hits an auction, and DO NOT get the price you want, then its very common in the art world, for even the most proven pieces, spend 30 to 40 years being sort of "black balled" in the auction circuit. And the Picasso estate, is split in several factions as well as the fact that this particular piece is of one of his ex wife's, and there is definitely an emotional tensions between the kids and all the ex wives and mistresses. Guillot, the woman that the piece pays homage to, was not only Picasso's long time love interest and a mother of 2 kids with him. But she is still alive and an accomplished artist herself. There is a reason why while Picasso is attributed to have produced over 30,000 artworks and pieces, the Picasso estate only recognized and registered less than 10,000. Also, the estate insists on having items shipped to them for a review. While that is not necessarily an unreasonable request, they are known to simply destroy the pieces that THEY deemed "not authentic". we are not taking that chance, instead we have our own "forensic" level group that we trust.
Q: Why is it taking so long to get caught up in filings?
A: We had to respond to the SEC and verify every statement and press release that ARTS ever published, and had to prove that the 10K that was missing the original audit letter, was not a lie. And only AFTER we were told to go ahead and work with SEC corporate finance to "catch up" with our filings, we were able to begin to catch up. And that took over 1 year. At this point.The company is eager to complete the filings , get on current status and hopefully continue the [positive momentum that we once had....
Q: Are you as the CEO of ARTS lost focus because of the other spin offs and companies? And is being current in PBHG take away from ARTS being current?
A: No. As we grow, from time to time , I will step in to wherever it is necessary and do what is needed to get things moving. I enjoy what I do, and love to grow ARTS to the level that I believe it could reach. Each company has its own staff and files as fast as possible to stay current.
....In closing; Thank you for your time, and investment in our companies. I realize that not everything that we plan comes to fruition. I also realize that we are building a very ambitious dream and because of that, sometimes people find it hard to believe. But believe is what drives me to complete the dream and the company that I created. And, no matter who is attempting to bring us down, or attempt to find faults or discredit me or the management, in the end, they will only find very focused and hardworking people who as investors and dreamers will see this company become a great company. END OF LETTER.........This Great Company Just Took The BIGGEST DUMP In The TOILET without Water in the BOWL. Thanx EDDIE for always Thinking about The Shareholders!!!!!!!.
ARTS is dead
As I predicted consistently since day one. IMO Edward Vakser is a worthless POS. Sympathies to all bag holders.
From TDA: We're sorry, but at this time there is no market for the symbol you've entered
Yes its not even listed thank God and no fees for throwing it in the garbage!! I am happy wit that.
LMAO....Mine also took it off my Portfolio and when I entered ARTS as a stock symbol it said. "We could not find the requested symbol. Please try again....all in red letters. Will this be the day that I finally have ARTS out of my Life? The shares that was left to me after the Massive 24,000/1 RS were WORTHLESS...Free at Last Free at Last, Thank God almighty I is Free At last.
Arts was removed from my portfolio..lol broker took it off Definately worthless now.lol..Definately Reboked and not tradable
Arts was removed from my portfolio..lol broker took it off Definately worthless now.lol
ib12u great scenario.
You outline what Eddie said was happening.
Soon we will know.
GLTA
That's a tough one, I haven't come up with anything in regards to that yet:(
YW im still trying to figure out what the benefits are to us at prpm
My thought are simple....leave ARTS to what it is and for cryin out loud do something with PRPM before it becomes the next ARTS.
thanx for the links Mach.
separate entities. Go to this board: http://investorshub.advfn.com/SEC-Suspensions-&-Revocations-25334/ very informative on the subject.
Shall I even bother asking how Finra can do one thing although it really means nothing until/unless the SEC acts accordingly?
I love government agencies....no really I do!lol!
informative post from suspension and revocation board
Renee Member Profile Renee Member Level Saturday, June 01, 2013 8:53:53 PM
Re: MACHIAVELLI01 post# 739 Post # of 740
Although Finra posted ARTS as revoked there was no SEC Admin Law Judge Filing which is the only Filing that matters.
Should the A.L.J. revoke ARTS' registration ARTS' shares will never be tradeable or transferable to any other public company. Artfest would thereafter be a private company that could transfer assets, debts, whatever else.....but not the ARTS shares.
http://investorshub.advfn.com/boards/post_reply.aspx?message_id=88541128
Not many people do care about arts so you are not alone in that. I am jz glad it got shut down.
Yep, sure...whateva!!
That has nothing to do with the question I was asking, simply trying to find a legitimate answer here.
Really could care less about ARTS.
There is no tradable arts..revoked worthless eddie stuff. Lol..No need to pump this anytime soon , But I am sure someone will have nothing better to do and continue to beat the dead horse. It's over.it's done ..it just needs to be sent to the dump.
That's a first 2....... I think you had 42 (maybe more, I lost count there)different subject lines in that post.
The only question I had is- Is it still possible that ARTS can be acquired in a 1 for 1 share exchange or is that LOI dead now with the revocation of ARTS yesterday?
But then again, ARTS's revocation can be symbolically in terms of its OTC tradability though not necessarily a cease and desist of the company itself!
Being that they're allegedly pending a merge with or to be absorbed by PRPM.
According to the PINK-SCHEME of things here, (wink!), the 'ARTS' trading symbol needs no longer to exist! as there's no further needs for ARTS's potential shareholder support.
All ties are now vectored from/by PRPM.
If anyone yet has faith within the mixes here, then channel all further vested interests towards PRPM's Stock, for ARTS, as a company, will virtually continue its business venture/operations under PRPM's wings and watch.
However, questions may yet arise as for what then becomes of current shareholder's monies/stocks tied up in ARTS's stocks! Will their vested interests be transferred to PRPM?
All 'DD' reads thus far, never mentioned this part.
So, is PRPM only assuming ownership of ARTS's intellectual properties?
Will shareholder's vested interests remains with ARTS?
However legal it may be allowed to do so, it'll be one hell of a sucker punch to all the loyal shareholders apparently caught in the middle of this!
But since Shareholders sucker punching is the most common career moves of the pink down here in the pink underworld, it'll likely get blown-off as just being the risks that comes with potential rewards.
Except that, the risks seems to always out weight the rewards down here in the pink underworld by many thousand folds to one!
(wink!)
Hence the number of pinksheet companies throughout the stock market where better than 97% have became all but real companies!
Any observer would see a sea of unlisted, dead or dying pinksheet stocks!
All Pumped, Dumped, leaving shareholders Humped!
(Wink-Wink!)
The IRS must be doing back flips for all the annual tax write-offs and therefore incurred losses within the same government entities put in place to avoid it!
LOL!
wink!
Of course, if the chains of commands were properly linked in the governing of government entities, (wink!), than the existence of these rogue rip-off pinks wouldn't be in such grossly high numbers.
On the brighter side, PRPM, in contrast to all the naysayers, appears to me heading in the right direction!
If what I've 'DD'ed of both companies, their underlying similarities seems to make them a good match for the merge.
Who knows! These might be exciting times for one to get in on these seeds before they bloom.
I may eventually pick up a few mills to leave in a vault for later.
After all, I'll only be using free money!
wink!
well im going to ask some who may better understand to come over and answer. It is only an loi at this point i believe
Ok, this is a new one for me........here goes-
How is a public company (PRPM) able(legally) to do a share exchange of a now revoked security (Arts)??
Or
A better question may be- WTF??
Revoked Security
Fri, May 31, 2013 12:00 - Artfest International, Inc. (ARTS: Grey Market) - Revoked Security - Effective Fri, May 31, 2013, ARTS is designated with the status Revoked. You may find a complete list of revoked/suspended securities at otcmarkets.com.
Party's officially over for ARTS - http://www.otcbb.com/dailylist/txthistory/BB05312013.txt
Since this is Friday, we'll probably get a link from the SEC to the final order Monday.
ARTS: Revoked by SEC, according to Daily List
DailyListDate|Type|NewSymbol|OldSymbol|NewName|OldName|EffDate|Comments|Notes|CoPhone|Mkt_Cat|OATS_Rptbl_Fl|Unit_of_Trade|Reg_Fee_Fl
05/31/2013 08:49:02|D||ARTS||Artfest International, Inc. Common Stock NEW|05/31/2013|12(j) Registration Revoked by SEC **|||u|Y|100|Y
Only once in awhile...
hiya janice you still watching the show
It seems to have been similar to what was done in this case:
http://www.securitieslawyer101.com/bogus-state-court-actions-used-in-28-million-fraud-lead-to-indictments/
A very interesting post that may have ramifications on ARTS being permanently revoked.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=88233281
I dont think you understand The Language of a courts decision. You can disagree with your Lawyer all you want on the agreement from the Courts decision but it is the responsibility of The Attorney to protect you at all cost and he did advise you this was the best for you.. What is most important in this case is the Court's DECISION and That decision was Favor for the Plaintiff because the latter presented his claims and were proven before the court and was awarded The Judgement. Both The Plaintiff and Defendants AGREED. ITS IN THE FIRST PARAGRAPH IN UPPER CASE LETTERS (LIKE THESE ARE) AND THEY ALL REQUESTED TO ENTRY THE FOLLOWING AGREED JUDGEMENT. Unless The Defendants Stunt Doubles agreed with the Plaintiff ( grounds for false identification) and Not THEM... Now if you had made the payments from the previous agreement that was settled outside of the court, this judgement would have never happened and therefore Final Judgement was Just..... IMHO,....If you disagreed with Your Attorney and think he was not showing your best interest, then you can file a complaint against him.
This arts has been a joke for years... be very careful
Bullshit. The named attorney of record was retained for all defendants in the suit, both company and individuals -- the suit clearly named Vakser and his sister and brother-in-law as individuals. This particular AGREED JUDGMENT was reached on behalf of Vakser, et. al. as individuals and was signed off by the attorney of record acting for those same INDIVIDUALS. No attorney is going to sign off and bind his client to an AGREED JUDGMENT without their consent.
Not that it matters one bit, but if Vakser et. al. didn't agree to this judgment, then where in the hell is the filing contesting it?
The attorney cannot agree for an individual, sorry, but can't happen. has no effect
Their Lawyer's signature represents the Clients involved. Any Litigant knows that...So yes THEY agreed to the Judgement to the Claims of The Plaintiff...as far as Receivership....eddie has issued that PRPM will acquire ARTS assets. Which includes, The Picasso, The Dallas Diamonds ( He sold it back to himself from PBHG to ARTS) and The CSD Sports, Like a previous poster said...GOOD LUCK COLLECTING THE JUDGEMENT.
Welcome to Ihub stupdity, I already re-worded, sorry for your confusion. To further clarify for all.
There is no finding of GUILTY or NOT GUILTY in a civil trial.
The verdict is announced as either "FOR THE PLAINTIFF" or "FOR THE DEFENSE.
Please see where I corrected myself Monday, May 20, 2013 12:10:57 AM;
Why is Eddie trying to buy "ARTS assets" from himself with shares of PRPM if there's "nothing to receive"? Even so, I tend to agree with you. It's nothing more than a failed concept.
If any person who is educated reads the posted material they will see that there is not a judgment against any of the corporations. They will also note that anyone who believes that anyone may be found "guilty" in a civil (as opposed to criminal proceeding) proceeding is not very well versed in the workings of the court system. Also, for there to be an "Agreed" Judgment there has to be an Agreement by the parties to the suit. If you read there is no such agreement by the parties. Any appointment of a receiver by the court is a waste of time because there is nothing for them to receive! And no the SEC or DOJ will not get involved, they have something real to do!
i bet rash's lawer will be pushing for assets, he's probably getting 15 to 25% of the settlement.
So Eddie, his sister and her husband are ALL personally liable for paying this $500k judgment? All I can say to Steven Rash is good luck collecting! Keep clawing because IMO Eddie has been raking it in lately pumping $TDEY.
Super Genius I tell you....Super Genius. By the looks of it I say Yes, He agreed that he committed Fraud and Breach of Contract
he is a fraud ----imo
So Eddie "agreed" he committed fraud and breach of contract?
What was the lawsuit for? Scope of it
CORRECTION.... This was a civil case brought on by the Plaintiff on claims of breach of contract, Fraud inducement, fraud by misrepresentation,unjust enrichment,and breach of fudiciary duty...This was not a criminal case. . It was an agreement judgement
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