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"Safe Harbor" is no defense!
How many of the underlined conditions explain the utter failure of Artfest?
Safe Harbor Statement from 2011 reads:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
Under the "not limited to" category needs to be "incompetent management, an incestuous board of directors (all family members), no transparency, no audited financials, inability of the CEO to follow through with the vast majority of anything he announces, lying to investors and the SEC (i.e. 'audited financials, Picasso, etc)...
Anyone care to add anything else?
A microscopic 487 visitors to the Artfest website for the period ending 5/20/11. June's numbers should be posted soon:
http://siteanalytics.compete.com/artfestinternational.com/
EDDIE VAKSER... EPIC "FAIL." ENRICHING HIMSELF WHILE FLEECING OTHERS. WHAT A GUY.
ARTS FORCED INTO BANKRUPTCY WITHIN 2 WEEKS
That's my personal prediction. My outside prediction is by mid-late July at the latest.
If I'm wrong the pumpers can call "calf rope" on me (that's Texas redneck/ hillbilly slang for saying "UNCLE" in a wrestling match).
Place yer bets people!
Will ARTS resume trading Monday, Yes or NO?
The SEC suspension was set to end Friday (yesterday) June 17, 2011 at 11:59 p.m. EDT (Midnight). More info on SEC Rule 15c2-11.
http://www.gopublicusa.com/whatis15c211.html
http://taft.law.uc.edu/CCL/34ActRls/rule15c2-11.html
Does lying to investors and the SEC (i.e. saying your financials are "audited" when they are not) constitute a crime? I wonder how these 'financials' jive with what was reported (if at all) to the IRS. I know that lying to THEM will land you in the ole "Graybar Hotel" for quite awhile.
ARTS Trading Suspended: The Securities and Exchange Commission (Commission) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act), of trading in the securities of Artfest International, Inc. (“Artfest”) of Dallas, Texas at 9:30 a.m. EDT on June 6, 2011, and terminating at 11:59 p.m. EDT on June 17, 2011.
The Commission temporarily suspended trading in the securities of Artfest because of questions regarding the accuracy and adequacy of assertions by Artfest, in its 2010 Form 10-K and amended Form 10-K filed with the Commission, concerning, among other things, an independent audit of Artfest’s financial statements for the fiscal year ended December 31, 2010, which was not performed, and financial statements for the 2010 period that are referenced in the filings as “audited,” when they were not.
http://www.sec.gov/litigation/suspensions/2011/34-64602.pdf
Could CSD be seized by the sheriff?
They would probably welcome a new owner... anyone but Eddie!
As everyone knows, court judgements against ARTS are mounting and the Dallas County Sheriff has already shown up at 13300 Branchview to "seize assets" and reported 'finding none.' But what about CDS? They are a wholly owned subsidiary of ARTS, correct? Can they be seized? If so, they may be up for grabs --especially once this case goes to trial on July 25th>>>
$800K Lawsuit by Steven Rash -ARTS former President
Rash was President, Chief Operating Officer and Director of Investor Relations of ARTS? His 8 page complaint ("Original Petition) filed 7-23-10 allleges FRAUD, BREACH OF CONTRACT, MISREPRESENTATIONS, UNJUST ENRICHMENT, BREACH OF FIDUCIARY DUTY, (BY USURPING CORPORATE OPPORTUNITIES FOR PERSONAL GAIN), SELF-DEALING and more against both ARTFEST and EDWARD VAKSER.
http://courtecom.dallascounty.org/pav/ (Enter case# DC1009236)
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Check out the 57 page "Motion to Compel" (date 12-16-10), the 112 page "Response CV" (date 2-12-11). On page 30 you see demands for Eddie to produce 95 specific items dealing with finances, stock transactions, press releases, board meeting minutes, and much more (a revised list of 99 items appears on page 39). Eddie's lawyer filed responses beginning on page 54 (filed 12/31/10) and his attorney pulled out of the case ("motion to withdraw" granted on 4-21-11). As far as i can tell, Eddie has not filed a response since.
It appears that Eddie has no intention of defending himself, the company or shareholders against this lawsuit. If true, the $800k judgement will surely bankrupt this sorry excuse for a company
Suspension blues for the Vakser Mob
Let me understand... the trading suspension automatically terminates Friday June 17th --with or without a legitimate independent audit??? I guess so because who can get something like done in 11 days?
So does this mean Eddie can keep milking this dead cow a bit longer? It looks to me like he's setting up shop under the PBGH shell in hopes of distancing himself from the stench of this massive fail. Can someone explain how PBGHEBGH can possibly function since the stated business porpose is hinged on the apparently defunct 'Starfest' plot?
Where's your "Safe Harbor" NOWWW?"
IMO Eddie Vakser has always thought he could say anything and that his precious "safe harbor" disclaimer would save him. Correct me if I'm wrong but.. if you KNOW what you're saying is a LIE or very likely not going to happen.. doesn't that act of premeditated deception and "bad faith" invalidate the limited protection of any 'safe harbor?'
IMO there will nev/er be an 'independent audit' (outside of the SEC and IRS that is) because (a) I doubt Eddie can afford one and (b) the results would simply confirm the bleedin' obvious... that this has been an even bigger disaster than anyone ever imagined.
IMO, Artfest is toast and Eddie has fled to his next penny stock shell (Pmbghdd or wtf it's called). If any ARTS 'assets' have been looted and shareholders not given an equal stake in his next company..doesn't that constitute 'theft?'
And what about poor CSD? How come they were not a "seizeable asset" when the court sent the county Sheriff calling a few months ago? Can't those who have won judgements against ARTS go after that 'wholly owned' subsidiary of ARTS? CSD would probably be THRILLED to be plucked out of this mess
MAXIMEDIA MUM/ SILENT ABOUT EDDIE & ARTS
Several people have called Maximedia and the person answering the phone will not give an answer. Rather strange for a facility that Eddie supposedly leases and controlls.
Has Eddie and Arts been evicted? Where's the "Pee-casso" ..all the priceless artwork, the equipment listed in the latest 10K and other assets the Dallas County Sheriff has been looking to sieze to satisfy legal judgements?
Has this carnival finally packed up and fled.. absconded?
Eddie reads this and is free to answer.
Does Larry Ditto actually have a PhD?
He says he does... it appears on the self-published book he wrote in 2003... but the bio above reads:
"In 1967, Mr. Ditto completed an MA in elementary administration and entered the doctoral program at Michigan State University as a teaching fellow."
"Entering" is not "graduating." I hate to be so skeptical but I'm wondering how a guy like this wound up running the forerunner of Artfest (a.k.a. "Soldnet") that did what?:
-----
"In 1979, Mr. Ditto became President, CEO, and 50% owner of a business that provided group purchasing programs for nursing homes. He specialized in negotiating agreements with suppliers for purchases of hundred of millions of dollars. The company was sold in 1996 to its largest competitor and he accepted a work/consulting agreement with the new owners. His contract ended in 2006."
-----
Note: it does not say that Ditto was responsible for earning "hundred of millions of dollars." That statement could be interpreted as $200 to $900 million. I'd like to see the actual financials.
And now he's with Eddie.. or was. Is he collecting a salary?
What a way to use a PhD.
WHERE'S THE PICASSO/DIVYS/ARTPRINTS/MULTILEVELSALESFORCE?
RIGHT HERE LORD
Here Lord: One Night In February 2000 Changed My Life Forever [Hardcover] by Larry D. Ditto PH.D.
Product Description: "I was indifferent and distrusting of God, religions and churches for 59 years, but because of the Holy Spirit I awoke one morning believing in God, Christianity and the Catholic Church. When God called my name I answered, "Here Lord"
392 pages of self-published confession and testimony! So how many ARTS shares can you buy for $30.45? And just how does a guy like Ditto rationalize all that Eddie has done to Artfest and its' investors? ARTS needs more than a miracle.
http://www.amazon.com/Here-Lord-February-Changed-Forever/dp/1410742652/ref=sr_1_1?ie=UTF8&s=books&qid=1306988029&sr=8-1
PS: Anyone wanna check the PhD? It's worth knowing if your Directors are honest or not. Just simple due dilligencehttp://www.abika.com/Reports/Samples/Verifycollegedegree.htm
Take the money and run
That's been the business strategy all along. Put on a good show.. run the PR machine night and day.. make endless 'announcements' about 'signing agreements'.. rake in the money and pay yourself first, last and always. What a worthless, steaming POS Arts and it's CEO both are.
SEC Adopts Rules to Establish Whistleblower Program
If fraud exists, maybe some disgruntled employee or other insider will opt for a fat payday from the Feds.
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FOR IMMEDIATE RELEASE Washington, D.C., May 25, 2011
The Securities and Exchange Commission today adopted rules to create a whistleblower program that rewards individuals who provide the agency with high-quality tips that lead to successful enforcement actions.
The new SEC whistleblower program, implemented under Section 922 of the Dodd-Frank Act, is primarily intended to reward individuals who act early to expose violations and who provide significant evidence that helps the SEC bring successful cases.
To be considered for an award, the SEC’s rules require that a whistleblower must voluntarily provide the SEC with original information that leads to the successful enforcement by the SEC of a federal court or administrative action in which the SEC obtains monetary sanctions totaling more than $1 million.
“For an agency with limited resources like the SEC, it is critical to be able to leverage the resources of people who may have first-hand information about violations of the securities laws,” said SEC Chairman Mary L. Schapiro. “While the SEC has a history of receiving a high volume of tips and complaints, the quality of the tips we have received has been better since Dodd-Frank became law. We expect this trend to continue, and these final rules map out simplified and transparent procedures for whistleblowers to provide us critical information.”
The SEC’s rules will be effective 60 days after they are submitted to Congress or published in the Federal Register.
More details-- http://sec.gov/news/press/2011/2011-116.htm
Several tornados just passed over ARTS HQ
If ARTS is still even at Branchview Ln.
Eddie Signs With 3D-Eye & Big Apple Consulting
Where to begin? Remember these PR's?
"January 29, 2010: 3D Eye Solutions, Inc. Signs License Agreement with Artfest International, Inc. Bringing 3-D Technology to Fine Arts and Sports Memorabilia Industry"
http://www.artfestinternational.com/index.php/component/content/article/126-pr2010-0129?date=2011-04-01
AND-----------
SOURCE: Artfest International, Inc. June 23, 2009 08:31 ET
Artfest International, Inc. to Host Nationwide Teleconference and Open House for Financial Community Today
"The nationwide teleconference will be hosted and moderated by Marc Jablon, the CEO of Big Apple Consulting USA, Inc. The featured speakers will be Edward Vakser, CEO of Artfest International, Inc., and Angie Tassan, Chief Marketing Officer of Artfest International, Inc."
http://www.marketwire.com/press-release/artfest-international-inc-host-nationwide-teleconference-open-house-financial-community-1219881.htm
AND---------
Marc Jablon's LinkedIN page boasts:
•Chairman at 3D Eye Solutions Inc.
•Owner at Management Solutions International, Inc. (Big Apple Consulting USA)
•Owner at Big Apple Consulting USA, Inc.
President and CEO at Big Apple Consulting USA, Inc. see less...
•Consultant at Artfest International
http://www.linkedin.com/in/bigapple123
Then there's this. Apparently EV's DD is sorely lacking. Then again, maybe he knew EXACTLY who he was getting in bed with all along
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21305 / November 18, 2009
Securities and Exchange Commission v. Big Apple Consulting USA, Inc., MJMM Investments, LLC, Marc Jablon, Matthew Maguire, Mark C. Kaley, and Keith Jablon, Civ. Action No. 09-cv-1963 (M.D. Fla.) (JA)
SEC Charges Investor Relations Firm and its Executives with Fraud, Registration Violations, and Acting as an Unregistered Broker-Dealer
http://www.sec.gov/litigation/litreleases/2009/lr21305.htm
49 page Complaint: http://www.sec.gov/litigation/complaints/2009/comp21305.pdf
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At least there's this:
"On September 20, 2010, Artfest released Big Apple Consulting USA INC, from its consulting contract. The Company continues to honor promissory note signed in October 2009."
http://biz.yahoo.com/e/110415/arts.pk10-k.html
But wasn't "someone" hyping this partnership earlier THIS YEAR? Say, January 31st, 2011 Post#36260? Who was that "someone" again?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=59358673
In lieu of dividends investors may opt to
receive either (1) a limited edition box of toothpicks or (2) a dose of 'EV Masterpiece' high fiber laxative --each manufactured from the shards and sawdust of his priceless "Pee-casso."
NO? Then maybe you'd like one of his rancid, exploding cans of wrestling promoter "Jimmy -Mouth of the South- Hart" energy drinks --vintage 2007.
http://www.bevnet.com/reviews/mouthofthesouth/
OR you could trade it all for a selection from his unsellable International Galleries Inc "investment, museum quality" canvas inkjet collector art prints --the bankrupt 'product based pyramid scheme' he personally "took from $10 million to $100 million in six months but walked away from for ethical reasons" as he claimed in this Apr 23, 2007 press release
http://www.prlog.org/10014630-art-channel-national-television-network-chooses-irving-texas-as-its-new-headquarters.html
(See IHubs post #40097). How could you not trust a guy who "left millions behind" and "astonished his peers" (i.e. all his fellow low-level member/ distributors who also lost their shirts with IGI) all because of his impeccable business morality?
Still no? Well maybe you'd rather have one of his "Christian music CD's" ..written and produced by EV and Vlad. I'm sure he's happy to make good on any of his promises (puke)
Btw: Is Adam "Dr. Evil" Gilmer still in bed with EV?
ARTFEST "JUDGEMENT DAY" --RECAP REDUX
HERE'S A LIST OF LEGAL JUDGEMENTS against EDDIE VAKSER, ARTCHANNEL, and ARTFEST. THIS WAS NOT REPORTED TO INVESTORS OR THE SEC. LINKS TO COMPLETE COURT RECORDS BELOW.
---------------
On Feb 16, 2011 the court awarded an $82,684 in a non-trial judgement "AGAINST Eddie Vakser, Artchannel and Artfest International JOINTLY AND SEVERALLY" in favor of one Kevin Dillingham. The abstract of this record was made public on April 11, 2011.
According to the 'Original Petition' by Dillingham, "Vakser had entered into a "Guarantor of Obligation" on September 6, 2007 wherein Vakser agreet to pay $135,000 in the event of a default by PEC, LLC. on it's obligations to Dillingham. In fact, PEC, LLC defaulted on the underlying obligation and Dillingham made demand on Vakser to honor his guaranty. Despite proper notice and demand, Vakser refused and continues to refuse said obligation."
It also says that on that same date Artchannel agreed to repay $75,000 in 30 monthly installments --EV defaulted on that too.
[NOTE: PEC Holdings, LLC's "officers include Charles Harty, Edward Vakser, and Eddie's old croanie lawyer Patrick C. Guillot. Pec Holdings, LLC "was incorporated on Tuesday, September 25, 2007 in the State of TX and is currently not active. Patrick C Guillot represents Pec Holdings, LLC as their registered agent."
http://www.corporationwiki.com/Texas/Dallas/pec-holdings-llc/37940078.aspx ]
Eddie lawyer --Gregory J Barbaree of Landreth & Kulesz, PLC-- petitoned the court to QUIT THE CASE because Eddie "wouldn't communicate with, return calls or answer messages!" Atty. Barbaree filed a "motion of withdrawal" on 11-24-10 and notified all three defendants (Vakser, Artchannel and Artfest) via 'certified mail' to their new address at 13300 Branchview Ln!!! Eddie faced a non-jury trial on Feb 16, 2011 and LOST.
CLICK HERE http://courtecom.dallascounty.org/pav/ AND ENTER COURT CASE# CC1002532C
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Artfest defaulting on a $45k phone bill
"ARTS HAS "NO ASSETS" --DALLAS COUNTY SHERIFF
A 38 page petition --including receipts and supporting documentation-- filed on 11-1-2011 by Cypress Communications vs. Artfest International! Artfest LOST a 'default Judgement' on Jan 26, 2011.
THEN on March 17th, "Execution form #362" was issued to "Any Sheriff or Constable of the State of Texas" to recover or reposess assets in the amount of the judgement. The "Officers Return" report dated April 4th was returned "Nulla Bonna" to wit: NO ASSETS FOUND AT THE ADDRESS. The address being 13300 BRANCH VIEW LN.
Click here: http://courtecom.dallascounty.org/pav/ and enter Case# DC1014351.
------------------------
$800K Lawsuit by Steven Rash -Eddie's former President
President, Chief Operating Officer and Director of Investor Relations, correct? His 8 page complaint filed 7-23-10 allleges FRAUD, BREACH OF CONTRACT, MISREPRESENTATIONS [LYING], UNJUST ENRICHMENT, BREACH OF FIDUCIARY DUTY, (BY USURPING CORPORATE OPPORTUNITIES FOR PERSONAL GAIN), SELF-DEALING and more.
The letter dated March 25, 2011 from lawyer L. Shawn Mathis to Judge Craig Smith states that members of the Vakser family who serve on the board and whom Mr. Rash maintains receive "preferential treatment" have "expressly refused to turn over any tax returns" as and requests a motion to COMPEL them to do so! These documents were requested on 2-14-11 and the judge told Mr. Mathis to contact him if he had any difficulty in getting them.
Oh yeah, Eddie's attorney --a different one-- has pulled out of this case as well. Motion granted on 4-21-11.
http://courtecom.dallascounty.org/pav/ Case# DC1009236
(At least this suit was acknowledged in a couple of 10-K's). I'm curious to know if any legal fees showing up on the financial reports
------------
THE TALLY SO FAR
$150,000 awarded to the former landlord at Midway Rd
$82,684 awarded to Kevin Dillingham
$44,850 awarded to Cypress Communications --THEN
$800,000 demanded by Steven Rash --trial date July /2011
PLUS interest, legal fees, etc.
------------
"Eddie has made some mistakes in the past." That was a recent admission made and by a big time fan of Mr. Vakser posted on this forum. Sure, anyone can make "mistakes".. but this appears to be a way of life for Eddie and some members of his family. Since this "fan" bought up "the past" I felt compeled to share a few examples. Even though they're not directly related to Artfest, they do seem to reveal a mindset and help paint a pattern of behavior:
JUDGEMENT: $492,934.87 Information Leasing Corp/ Leahman Brothers/ Terminal Finance Corp vs Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200302503154
JUDGEMENT: $134,763.68 against Eddie & Vladimir
JUDGEMENT: $ 22,148.08 against Eddie & Vladimir
JUDGEMENT: $ 22,620.75 against Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A20070451189
JUDGEMENT: $40,296.51 JP Morgan vs Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200302587173
JUDGEMENT: $4,370.40 against Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200403095694
Notice of lawsuit by JP Morgan vs. Eddie Vakser & Angie Tassan seeking judgement for "fraudulent transfer conveyance"http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200403074462
U.S. DEPARTMENT OF LABOR SUES EDDIE & VLADIMIR
"Dallas Audio/Video Producers Sued To Restore Delinquent Employee Contributions to Pension Fundto recover delinquent employee contributions and loan repayments owed to the 401(k) plan. Amount: $46,308.00
http://www.dol.gov/ebsa/newsroom/pr061505.html
Then there's this. Just type the last name "Vakser"
http://www.dallascounty.org/criminalBackgroundSearch/
This is far from complete but you get the idea.
Artfest "on the move" (LOL)
I've followed the exploits of Mr. Vakser since 2005-2006.. back when he was a distributor with the bankrupt scam International Galleries, Inc. Here's a partial list of places he has proclaimed as his "international headquarters:"
1) Revolve Communication 2229 Cockrell Ave --Dallas (evicted & sued by Jack Stadtman/ Advanced Art)
2) Art Channel, Inc 999 Metromedia Place --Dallas (locked out/ evicted)
3) Art Channel, Inc. Orange Tree Studio --Plano
4) Art Channel, Inc Silverado Ranch-- Irving
http://www.free-press-release-center.info/pr00000000000000004472.html
5) ART CHANNEL, INC., a Texas Corporation, with an address at 16160 County Road 635, Blue Ridge, Texas, 75424 --Eddie's personal home listed as his business address in the merger with Artfest and from whence he was subsequently evicted:
Case Number 02-EV-09-00363
Date Filed: 12/07/2009
Case Type: CV - Evictions
Style: Washington Mutual Bank vs. Edward Vakser
Judicial Officer: Douglas, Terry L. in Precinct 2
Defendant: Vakser, Edward 16160 Cr 635, Blue Ridge, TX 75424
Plaintiff Washington Mutual Bank Atty: Chance L Oliver
Cause of Action: See Washington mutual Bank's Original Petition for Forcible Detainer
6) Artfest International, Inc. The Madison Building. 15851 Dallas Pkwy, Addison, TX
7) Artfest International, Inc. 13342 Midway Road, Suite 250 (evicted/ sued/ owes $150k judgement)
8) Artfest International, Inc. (Maximedia Studios) 13300 Branchview -Dallas.
Eight business locations and multiple evictions in the span of 5-6 years. I find it hilarious that Eddie signs these 5-10 year leases. An obvious ploy to both negotiate favorable rents in the short run while giving the illusion of a company that expects to be around that long. Time and time again Eddie has proven he can't sell anything but bullsh*t. Not art prints, not energy drinks, not printing on chocolates, not TV shows.. nothing. IMO he's a little man with few business management skills, no history of successes and no moral compass.
I have read everyone's posts so I decided to go by all three locations here in Dallas for all of you. Here are the three addresses I found: 13342 Midway # 250 Dallas, Texas - It is a vacant building. Completely empty with no cars and overgrown weeds. 1325 Capital Parkway # 130 Carrollton, Texas - It is located in a business stripe center. It is the CSD memorabilia and frame shop. It is very small and open for business. Can't see how much business is driven out of that location. I then went to 13300 Branch View Dallas, Texas - It is a run down warehouse type building. You cannot walk in, they have to let you in. It has an "M" on the building for Maximedia Studios. It is primarily a music studio and Artsfest International is in a side office. No one was there from Artsfest. The number there to Maximedia is 877-881-9388 and 972-488-8814. The guy told me that Artsfest was having an event this weekend and he showed me some paintings that were sitting on the floor. They looked like they were from garage sales. I guess those were the reproductions the website talks about. I have not invested any money but I pass by these locations everyday. I just wanted to share the information with all of you. FYI, the Branch View and Midway locations are in Farmers Branch, Texas not Dallas. Dallas PD would almost certainly not go there and they would refer it to Farmers Branch PD. I hope this helps. DO NOT BUY ANYMORE. Good luck.
Where's your money?
Can anyone
(a) calculate how much money was raised by CEO/ CFO/ President/ Chairman Edward I. Vakser since the re-launch of this worthless penny stock in 2008,
(b) how much of that money was actually used for legitimate business expenses and
(c) what is the spread between the two?
It's the amount of this spread that will determine the level of the fraud perpetrated --provided one does indeed exist. The only way to know any of this for certain is to have an independent audit by a reputable firm.. preferably by the IRS.
Individuals suing for fraud
Check the laws in your state. Seems I recal Texas has a "theft by deception" provision that may apply. IF you read PR statements, were told by ARTS agents or were otherwise led to believe certain specific things were indeed fact (e.g. "Eddie owns a genuine Picasso worth $50-70 million and has the rights to make canvas prints based on it") --which you now believe were lies-- yet you made investments based on those pronouncements, you might have a case.
However, his 'safe harbor statement' could be deemed worthless "IF" it could be proven he new those claims were bogus or otherwise not made in good faith before making them. Logic should tell anyone -especially a self proclaimed art & copyright expert like Eddie- that having an artwork "authenticated" preceeds ANY appraisal, any purchase and certainly any pronouncements to the public intended to hype the stock. Instead, Eddie took the word of Barry Wicker and his statements and, together, they jointly filed documents with the SEC. IMO Ed-Tard-o thinks he can say anything and that his 'safe harbor statement' will protect him from all liability. Such is not the case.
That being said, one wonders if there's anything worth suing over. In light of recent court cases, it's doubtful that EV would even show up to defend himself of his companies. Nevertheless, one must always assume that owners and insiders line their own nests first. Afterall, they, above everyone else, know the true financial & business state of their company. It's quite common for funds and other assets to be misappropriated or stashed offshore. If they exist, there's a chance some could be clawed back.
Just how many audio visual companies does one family need?
Anngie Vakser-Tassan (PO Box address)
http://www.tntmediaproductions.com/
Vladimir Vakser
http://www.legacyaudiovisual.com/contact.html
http://www.manta.com/c/mtvmx25/legacy-audio-visual-production-services-llc (Tatyana Vakser- 'Principal.' 2 employees with $79,000 annual sales)
Any or all of the above involved in the following
Intelecon Services, Inc
Revolve Communications
ArtChannel TV/ Galleries
Artfest/ Maximedia Studios
..plus several others I'm sure. I keep struggling to find a single one that has proven successful over the long haul
me2 ..hic
ARTFEST "JUDGEMENT DAY" RECAP
LEGAL JUDGEMENT against EDDIE VAKSER, ARTCHANNEL, and ARTFEST
THIS WAS NOT REPORTED TO INVESTORS OR THE SEC and INVESTORS ARE ON THE HOOK!!! COMPLETE COURT RECORDS BELOW
On Feb 16, 2011 the court awarded an $82,684 in a non-trial judgement "AGAINST Eddie Vakser, Artchannel and Artfest International JOINTLY AND SEVERALLY" in favor of one Kevin Dillingham. The abstract of this record was made public on April 11, 2011.
According to the 'Original Petition' by Dillingham, "Vakser had entered into a "Guarantor of Obligation" on September 6, 2007 wherein Vakser agreet to pay $135,000 in the event of a default by PEC, LLC. on it's obligations to Dillingham. In fact, PEC, LLC defaulted on the underlying obligation and Dillingham made demand on Vakser to honor his guaranty. Despite proper notice and demand, Vakser refused and continues to refuse said obligation."
It also says that on that same date Artchannel agreed to repay $75,000 in 30 monthly installments --EV defaulted on that too.
PEC Holdings, LLC's "officers include Charles Harty, Edward Vakser, [Eddie's old croanie lawyer pal] Patrick C Guillot. Pec Holdings, LLC "was incorporated on Tuesday, September 25, 2007 in the State of TX and is currently not active. Patrick C Guillot represents Pec Holdings, LLC as their registered agent."
http://www.corporationwiki.com/Texas/Dallas/pec-holdings-llc/37940078.aspx
NOW GET THIS>>> Eddie lawyer --Gregory J Barbaree of Landreth & Kulesz, PLC-- petitoned the court to QUIT THE CASE because Eddie "wouldn't communicate with, return calls or answer messages!" Atty. Barbaree filed a "motion of withdrawal" on 11-24-10 and notified all three defendants (Vakser, Artchannel and Artfest) via 'certified mail' to their new address at 13300 Branchview Ln!!! Eddie faced a non-jury trial on Feb 16, 2011 and LOST.
TO VIEW ALL COURT FILINGS, CLICK HERE http://courtecom.dallascounty.org/pav/ AND ENTER COURT CASE# CC1002532C
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Artfest defaulting on a $45k phone bill
"ARTS HAS "NO ASSETS" --DALLAS COUNTY SHERIFF
A 38 page petition --including receipts and supporting documentation-- filed on 11-1-2011 by Cypress Communications vs. Artfest International! Artfest LOST a 'default Judgement' on Jan 26, 2011.
THEN on March 17th, "Execution form #362" was issued to "Any Sheriff or Constable of the State of Texas" to recover or reposess assets in the amount of the judgement. The "Officers Return" report dated April 4th was returned "Nulla Bonna" to wit: NO ASSETS FOUND AT THE ADDRESS. The address being 13300 BRANCH VIEW LN!!
Click here: http://courtecom.dallascounty.org/pav/ and enter Case# DC1014351.
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$800K Lawsuit by Steven Rash -Eddie's former President
President, Chief Operating Officer and Director of Investor Relations, correct? His 8 page complaint filed 7-23-10 allleges FRAUD, BREACH OF CONTRACT, MISREPRESENTATIONS [LYING], UNJUST ENRICHMENT, BREACH OF FIDUCIARY DUTY, (BY USURPING CORPORATE OPPORTUNITIES FOR PERSONAL GAIN), SELF-DEALING and more.
Oh yeah, Eddie's attorney --a different one-- has pulled out of this case as well. Motion granted on 4-21-11.
http://courtecom.dallascounty.org/pav/ Case# DC1009236
At least this suit was acknowledged in a couple of 10-K's. Are any legal fees showing up on the financial reports?
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$150,000 awarded to the landlord at Midway Rd
$82,684 awarded to Kevin Dillingham
$44,850 awarded to Cypress Communications --THEN
$800,000 demanded by Steven Rash --trial date July /2011
PLUS interest, legal fees, etc.
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The letter dated March 25, 2011 from lawyer L. Shawn Mathis to Judge Craig Smith wherein he states that members of the Vakser family who serve on the board and whom Mr. Rash maintains receive "preferential treatment" have "expressly refused to turn over any tax returns" as and requests a motion to COMPEL them to do so! These documents were requested on 2-14-11 and the judge told Mr. Mathis to contact him if he had any difficulty in getting them.
Starfest website died and buried ARTS IHubs mugshots
Scroll up... the ARTS directors photos are still gone. Why? Because they were hot-linked to the Starfest website which is dead. Yet one more failure chalked up to Ed-tard-o.
Lifestyles of the Rich & Famous
I always like to see how "guys who are worth billions" roll so I did a Google 'street view' of their business address. It lands smack-dab on a building that says "Moore Educational Publishers." It's right there on the awning --bold as brass with the street number right on it. So a textbook company gets top-billing?
This is actually the old Acuff-Rose music publishing building in Nashville. It has 13,000 sq ft of leasable space available in units as small as 1,000 sq'. I suspect the book guys have most of it. http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=17001534
IMO, these RDF guys are much much more interested in promoting their one C&W band and manageming their part ownership in an air-taxi service.
Again, I predict no impact on ARTS stock and that legal judgements against Eddie and his companies will surpass $1 million by July. That's my bet.
Guys "worth billions" sell to Eddie?
Now tell me again why a company would dump a division if it were soooo profitable? What? Is Eddie and his tacky, techno, schmaltzy video production abilities going to make this skyrocket?
HAR HAR HARRRDIE HAR HAR!!!
IMO, RPD dumped a dog turd and Eddie scooped it up for PR value. It'll never make a dime.
"Reaching an agreement" means nothing.
I can't begin to count the number of "agreements" ARTS has "reached." And I can't find ANY that have panned out in any meaningful, profitable way. Just look at how much crap ARTS has bought that hasn't amounted to anything.
This PR should read "A two-bit company purchases something from another two-bit company who couldn't get it to work."
Yawn
Their Facebook page has "25 friends" ...woopiee.
And virtually all are from two realty companies.. and Eddie and Artfest ain't amongst em.
http://www.facebook.com/myretvi
D.O.A. if you ask me. Besides, wtf does this have to do with art and collectibles? LOL
STARFEST ARTFEST DIRECTORS MUGSHOTS GONE FROM IHUBS
Scroll up... are the photos of the ARTFEST gang gone? Could this be the reason why?
Right-click each photo box>> click 'properties' and read the photo link, i.e: http://www.starfestdirect.eu/images/team-evakser.jpg
What's with the ".eu" extension? Why is/was that website registered in EUROPE anyway? Here's the WHOIS.com lowdown:
Registrant:
NOT DISCLOSED!
Visit www.eurid.eu for webbased whois.
Registrar Technical Contacts:
Name: SNNS Ltd
Organisation: SNNS Ltd
Language: en
Phone: +44.1908206780
Fax: +44.1908206782
Email: techsupport@snnsltd.com
[http://www.snnsltd.com/]
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Country code 44 is for United Kingdom and Isle of Man. Google their phone number and let me know what you find: 44.1908206780
R.I.P. STARFEST DIRECT
It only lives on in old press releases and in that schmaltzy video on the ARTFEST home page.
No one to buy those 8x10" photos Ed "Too Tall" Jones is signing? How sad. Oh well, there's an endless supply for sale at an average of $10-25 on eBay anyway. Rather hard to make millions at that rate.
StarfestDirect has disappeared.
I thought at first they were just doing a new site upload or such as an Under Construction page showed; however, attempting to follow pages through the cache and click on resources results in 404 errors and resources that no longer exist. I suppose the starfestreview site going into suspended status ten days ago was a red flag on this.
Let me understand...
Eddie can lie and deceive investors, vendors, employees and it's a civil matter. So is it ok to do that to the SEC? What about the IRS?
Eddie just filed an "ammended 10-K" which completely deleted the accountant's statement".. why did he do that?
The TAZ Trust -connection to ARTFEST
Reason I ask is is because I'm curious about the following:
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TAZ TRUST, THE
VAKSER, BORIS -TRUSTEE (Eddie's other brother)
15851 DALLAS PKWY STE 225
ADDISON TX 75001
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This is the very same "Madison Building" address and suite number that housed ARTFEST. So why is/was a "trust" headquartered in offices paid for by ARTFEST INVESTORS?
A search of traffic violations show Eddie's vehicles are registered to the address of a house OWNED by THE TAZ TRUST:
Account: R013802200201
APD: 69936
Owner: TAZ TRUST, THE
VAKSER BORIS TRUSTEE
15851 DALLAS PKWY STE 225
ADDISON TX 75001
http://www.collincad.org/ccdetail.php?theKey=69936
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Now I can't find ANY evidence of Eddie owning any property in Collin, Dallas or surrounding counties. So it appears is Eddie living in (possibly renting?) a house owned by a trust run out of ARTFEST'S former offices and that's supposedly controlled by his brother.
Property records (link above) show the home was purchased by Eddie's father in 1983. He passed away in 2006. But records say he "sold" the house to the TAZ Trust two years after his death!
Regardless, this strikes me as being an unacceptable co-mingling of business and personal enterprises. Especially so since ARTFEST is a public company.
"Past is Prologue" -William Shakespeare
"Those who do not learn from history is doomed to repeat it" -George Santayana
"Success does not consist in never making blunders, but in never making the same one a second time" -Josh Billings
"F--k my victims. I carried them for twenty years, and now I'm doing 150 years." -Bernard Madoff
"I was always able to rationalize the fraud -Madoff again
Eddie "making mistakes in the past" is more than an understatement! It appears to be a way of life for him and some members of his family. Here are a few examples:
JUDGEMENT: $492,934.87 Information Leasing Corp/ Leahman Brothers/ Terminal Finance Corp vs Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200302503154
JUDGEMENT: $134,763.68 against Eddie & Vladimir
JUDGEMENT: $ 22,148.08 against Eddie & Vladimir
JUDGEMENT: $ 22,620.75 against Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A20070451189
JUDGEMENT: $40,296.51 JP Morgan vs Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200302587173
JUDGEMENT: $4,370.40 against Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200403095694
Notice of lawsuit by JP Morgan vs. Eddie Vakser & Angie Tassan seeking judgement for "fraudulent transfer conveyance"http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200403074462
U.S. DEPARTMENT OF LABOR SUES EDDIE & Vladimir
"Dallas Audio/Video Producers Sued To Restore Delinquent Employee Contributions to Pension Fundto recover delinquent employee contributions and loan repayments owed to the 401(k) plan. Amount: $46,308.00
http://www.dol.gov/ebsa/newsroom/pr061505.html
Then there's this. Just type the last name "Vakser"
http://www.dallascounty.org/criminalBackgroundSearch/
This isn't all --and doesn't include the reccent bombs dropped on Eddie, Art Channel and Artfest-- but you get the idea. It goes on year after year.
Eddie "making mistakes in the past" is more than an understatement! It appears to be a way of life for him and some members of his family. Here are a few examples:
JUDGEMENT: $492,934.87 Information Leasing Corp/ Leahman Brothers/ Terminal Finance Corp vs Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200302503154
JUDGEMENT: $134,763.68 against Eddie & Vladimir
JUDGEMENT: $ 22,148.08 against Eddie & Vladimir
JUDGEMENT: $ 22,620.75 against Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A20070451189
JUDGEMENT: $40,296.51 JP Morgan vs Eddie & Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200302587173
JUDGEMENT: $4,370.40 against Vladimir
http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200403095694
Notice of lawsuit by JP Morgan vs. Eddie Vakser & Angie Tassan seeking judgement for "fraudulent transfer conveyance"http://roamdallaspropertyrecords.com/ailis/search.do?indexName=dallasimages&lq=Instrument%3A200403074462
U.S. DEPARTMENT OF LABOR SUES EDDIE & Vladimir
"Dallas Audio/Video Producers Sued To Restore Delinquent Employee Contributions to Pension Fundto recover delinquent employee contributions and loan repayments owed to the 401(k) plan. Amount: $46,308.00
http://www.dol.gov/ebsa/newsroom/pr061505.html
Then there's this. Just type the last name "Vakser"
http://www.dallascounty.org/criminalBackgroundSearch/
This isn't all --and doesn't include the reccent bombs dropped on Eddie, Art Channel and Artfest-- but you get the idea. It goes on year after year.
TRON... as far as your demand for 'links' goes
I never said I had any from "individual investors" ..not yet that is. I merely responded to Paulmcmu's post #40158 wherein he claimed to know of two. Unfortunately the only way you can search Dallas County civil court records online is to have actual case numbers.
HOWEVER, I will say this... I've heard of one investor lawsuit by a Dallas area gentleman with the initials "D.W." I don't yet have his permission to divulge his name or case. So run that up Eddie's flagpole and tell us what he says. For now, consider this particular comment to be hearsay.
Remember... "D. W."
TWO MORE LAWSUITS?
By individual investors no less? Well, if they prevail then it would seem every investor would have a claim as well.
Actually there are two pending lawsuits against the company launched by individual investors that I know of. Seems they think it was the company responsible for the PPS, and the false and misleading P/R's. Such as $10.00 dividends.
I did so last night and again just now.
You go to the court web portal and enter the case number and click "search." That turns em all up.
The same is true for all the other cases I referred to. Case numbers are in my posts from last night but I'll be happy to list em again
Links to all court documents are already posted
Do you want the entire Steven Rash list? See my post #40130
http://courtecom.dallascounty.org/pav/
Enter Case# DC1009236
The particular letter asking the court to demand Vakser family tax records is file date 3/29/11 "Correspodence- Letter to File CV
Over $1 MILLION in judgements against Artfest soon?
Let's check the Tote Board shall we?:
$150,000 awarded to the landlord at Midway Rd
$82,684 awarded to Kevin Dillingham
$44,850 awarded to Cypress Communications --THEN
$800,000 demanded by Steven Rash --trial date July /2011
PLUS interest, legal fees, etc. I'm not making this stuff up folks.
PS: Did you read the letter dated March 25, 2011 from lawyer L. Shawn Mathis to Judge Craig Smith wherein he states that members of the Vakser family who serve on the board and whom Mr. Rash maintains receive "preferential treatment" have "expressly refused to turn over any tax returns" as and requests a motion to COMPEL them to do so! These documents were requested on 2-14-11 and the judge told Mr. Mathis to contact him if he had any difficulty in getting them.
Follow the money
So "Eddie preparing lawsuits against individuals" is he?
Sounds like a threat to engage in a "Strategic Lawsuit Against Public Participation" a.k.a. "SLAPP suit."
"A strategic lawsuit against public participation (SLAPP) is a lawsuit that is intended to censor, intimidate and silence critics by burdening them with the cost of a legal defense until they abandon their criticism or opposition.[1]
The typical SLAPP plaintiff [ARTFEST]does not normally expect to win the lawsuit. The plaintiff's goals are accomplished if the defendant succumbs to fear, intimidation, mounting legal costs or simple exhaustion and abandons the criticism. A SLAPP may also intimidate others from participating in the debate. A SLAPP is often preceded by a legal threat. The difficulty, of course, is that plaintiffs [ARTFEST] do not present themselves to the Court admitting that their intent is to censor, intimidate or silence their critics. Hence, the difficulty in drafting SLAPP legislation, and in applying it, is to craft an approach which affords an early termination to invalid abusive suits, without denying a legitimate day in court to valid good faith claims."
http://en.wikipedia.org/wiki/Strategic_lawsuit_against_public_participation
This ham-handed scare tactic was used by International Galleries, Inc (the company Eddie claims he "took from $10 million to $100 milllion in less than 6 months" --as a distributor of inkjet canvases no less). It was used aganst ONE dedicated critic who made the mistake of identifying himself (as at least one other person that I know of has done here) which made him a sitting duck and easy to attack. The thing was, IGI still had a few bucks left to engage a lawyer to scare him into silence.
Eddie can threaten all he wants. But unless he has some iron clad evidence, and the funds to petition a court to compel a website to divulge the ISP of any poster, I think he's just blowing more smoke while treading water. His legal woes are a matter of public record.
How many people believed Eddie owned this Picasso worth $50-70 million and bought stock because of it? There's an historical written record on here that provides a clue.
ARTS does NOT own the Picasso Sculpture, if it even exists. (I have personal information it does not) From all reports, they HAD the opportunity to "broker" the sale of it, which they tried to do on e-Bay...LOL!! The contract for them to broker it has now expired. THERE IS NO PICASSO...!!!!