Certified moron
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The old website is just for show
IMO it's nothing more than propaganda and "window dressing" to give the appearance that Artfest is still a "going concern" to the SEC and IRS start looking. Has there even been a 10-K filed for FY 2011? Wait, why am I even asking? The The stock has been flatlined for weeks now.
EV we are wondering why the website has never been updated. If you are truly focused on ARTS this should been an easy fix. Hire someone with real experience to create a easy user friendly website with relevant information. How can you have out dated info on the website?
The Artfest website desperately needs a makeover
Unless I'm mistaken, virtually all the photos on the website are from the old location on Midway Rd. That's the place that evicted Artfest well over a year ago, which filed a lawsuit and which Eddie agreed to pay a $150,000 settlement, correct?
So how hard is it for a big-time media company like Artfest to upload some photos of their current "international headquarters?" Don't they have a camera? What are Scott and Angie doing to justify their fat paychecks? Can't they handle a simple high school level task like this?
All one can conclude is that there's really nothing worth showing at the Branch View Ln address --unless you count Maximedia's studio equipment and a lot of unsold CSD inventory on the walls. (Yawn)
But what's really embarrassing is the utter lack of evidence of this army of distributors that Eddie has been assuring investors are massing to sell all the stuff he keeps rolling out. The years keep passing and this sales force never materializes.
::rolls eyes::
The $12 million dollar question
Or should that be "exaggeration"?
Artfest had taxable "business personal property" of only $226,250.
Maximedia (which Artfest does not own) has taxable "business personal property" of $228,030 (a difference of $1,780)
Even combined, the taxable property of the two businesses sharing space at Branch View Dr only comes to $454,280.
EVEN if you threw in the taxable value of the physical property (building and land valued at $1,261,230) --which Artfest does not own-- you get this:
$454,280 + $1,261,230= $1,715,510
I'd be interested in hearing the spin from this CEO regarding his $12 million dollar studio claims. I'd also like to know what happened to the "35,000 square foot showplace TV production facility" he "purchased" back when the stock symbol was ARTI and while "headquartered in Addison, Texas." He might also explain why the owner of that facility, Parker Midway, reportedly had to evict Artfest and sue for non payment of rent to the tune of $150k:
http://www.qualitystocks.net/newsletter/031909.html
Taxman says Artfest business personal property quite small
Here is the 2011 tax appraisal listing the "business personal property" (BPP) of Artfest at their address on Branch View Ln:
http://www.dallascad.org/SPLITPDF/990812082800000000.PDF
http://www.dallascad.org/AcctDetailBPP.aspx?ID=99081208280000000
The valuation "is/ was" a mere $226,250.. about the cost of a Subway sandwich shop in a midrange location.
A search of the physical address (13300 Branch View Ln, Farmers Branch) produced the true owners of the property:
Michael & Marguerite Pisterzi (100% owners) --value $1,261,230
http://www.dallascad.org/AcctDetailCom.aspx?ID=24184500010050000
They also appear as tenants:
MUSIC PUPPIES INC
%MICHAEL PISTERZI
DBA: MAXIMEDIA RECORDING STUDIO
Business Personal Property --value $228,030
http://www.dallascad.org/SPLITPDF/992003247001591000.PDF
http://www.dallascad.org/AcctDetailBPP.aspx?ID=99200324700159100
At the time this valuation was created--both Artfest and Maximedia were each assessed virtually the same amount of "business personal property."
This "history" link shows this same couple has owned this property since 12-6-1999
http://www.dallascad.org/AcctHistory.aspx?ID=24184500010050000
The deadline for filing a protest for 'business personal property' was June 16th, 2011. For all we know Eddie reportedly had cleared out this spring (after all the Dallas Sheriff found "no assets to seize" in another judgement). We do know that he has been accused of looting Artfest by transferring assets to PBS Holdings and set up a location for them in the area. Rather an odd thing to do if you supposedly own or control a massive complex like the one on Branchview Ln.
Tax records state that the building measures 29,676 sqft in size. Eddie inflated it to 33,000 on page 13 in this SEC 10-K/A filing from May 2, 2011>>>
-------------
ITEM 2. DESCRIPTION OF PROPERTY
Artfest currently leases 33,000 square feet of office and gallery space that houses the Company’s art gallery, production studio, distributor call center area and offices for the Company’s five (5) employees. The Company’s headquarters is located at 13300 Branch View Lane, Dallas, Texas 75234.
The Company negotiated a ten-year lease term for the Starfest Expo Center on August 1, 2010, and leased its new studio and production facilities located at 13300 Branch View Lane in Dallas, Texas.
http://www.faqs.org/sec-filings/110502/ARTFEST-INTERNATIONAL-INC_10-K.A/#ixzz1bqKJGpxM
------------
I have no idea how much money Artfest took in, how it was used, whether this $226,250 business personal property valuation jives with what is reported in the most recent 10-K, if any of this stuff remains on the Artfest books or if it has been shifted to PBS Holdings. I'd be curious to know if a protest was filed before June 16th and how much BPP is currently claimed by Artfest.
Side note: the BPP of CSD Sports Framing is $224,070.. practically the same as Artfest and Maximedia. What are the odds!
http://www.dallascad.org/SPLITPDF/990702213200000000.PDF
Thanks for explaining that
Within the past week I noted seeing total daily volume of 100 shares being bought for something like .08 cents. That struck me as a ridiculous attempt to show a big percentage move up. I guess it didn't prime the pump.
It is normal alot of new issued stocks have real low volume,some dont trade for weeks,folks usually stay away until steady volume comes in and the float is bigger or more liquid.
Since Eddie reads this forum he can explain
Apparently he thought Rash was well worth hiring and did so. I failed to point out earlier that Rash also had every opportunity to investigate Eddie before agreeing to become his employee. So maybe HE should have dug a little deeper as well. Even so, this could be a case of "two guys with the same patterns" as you put it.
Rash alleges (among many things) Eddie is in 'breach of contract' so one assumes something written exists. That's basic "Business 101."
So can anyone explain why Eddie hired him?
(Steven Rash that is) Not only did Eddie hire him but put out statements proclaiming him to be his "President," "Chief Operating Officer" and head of "Investor Relations."
I have to believe that information about Rash and his business history were available for the reading. Therefore it strikes me that either Eddie is sorely lacking when it comes to vetting prospective employees... or he knew exactly who he was hiring. Just my opinion mind you
Yes...it is the same guy and same patterns with him it seems.he needs to get a job.
So can anyone explain why Eddie hired him?
(Steven Rash that is) Not only did Eddie hire him but put out statements proclaiming him to be his "President," "Chief Operating Officer" and head of "Investor Relations."
I have to believe that information about Rash and his business history were available for the reading. Therefore it strikes me that either Eddie is sorely lacking when it comes to vetting prospective employees... or he knew exactly who he was hiring. Just my opinion mind you
Yes...it is the same guy and same patterns with him it seems.he needs to get a job.
2pm and ZERO volume
Has trading been suspended? Is this thing already defunct?
Explanations?
Doubleday --you sure this is the same guy?
Steven B. Rash that is. Can you connect-the-dots between this guy and the former President of Artfest? I've not had the time so I don't know.
The lawsuit is frivolous at best,I am guessing he was betting on an out of court settlement,how much longer for DD,it has been since July 2010.I have no idea where he would come up with 800K,when his contract was for zero dollars,people on this board act like this is the first lawsuit ever vs. a public company,most public companies have to deal with this bs.I have read the fillings as well,it seems like half of the complaints are from these threads,I cant see Rash getting much or anything.Check out the mess he was in with the SEC when he worked for Power 3 medcial.
http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHtmlSection1?SectionID=4348355-117780-125928&SessionID=z1r1Fv7XX3w3Om7
Rash's $800k claim
You are correct in that Rash will have to prove he has been shafted to the tune of $800k. I rather doubt that's a claim for two years of unpaid salary alone. So did he bring something else to the table? Did Eddie put one of his famous promises in writing? The devil will surely be in the details and Rash will surely have to prove his case.
What I 'have' seen are numerous PR's still out there identifying Rash as "President" and the head of "Investor Relations" for Artfest. I've also seen him listed in one as "President of CSD." If Eddie can't show where he compensated the guy for his services --and honored any contracts-- then the court will sort that out.
Re. your 'side note' --I'm suspect Rash reads this forum just as Eddie Vakser does. Eddie has gone as far as publicly identifying himself and using both the ARTS and PBHG forums on IHubs to buttress his case regarding the legitimacy of his actions. If Rash picked up any nuggets here that can do the same for his case then what's your point? IMO "facts is facts" regardless of how or where they're discovered.
(For the record... I'm not Rash. I've already been accused of being at least 3 other people, remember..LOL)
Default could also mean just that --Default
"Default" --as in the intent of the owner to abandon the company.
The only other explanations I can think of are (a) not having the money to pay the fees or (b) an unwillingness to pay the fees for some reason. IMO either way represents a bad faith move designed to keep investors in the dark and buy more time. Time and time again history has shown this CEO to be less than forthcoming with his investors. Instead news like this has to be ferreted out by others and posted on forums like this.
What a company!
Artfest operating while in corporate default
Does this mean, as charged in the pending lawsuit against Vakser and the Tassans, that they are 'personally liable' for the actions of Artfest and any other corporations that are in default?
The date of this default of business license seems to correspond with the shifting of Artfest's assets to PBS Holdings.
Artfest lawsuit update: New motion filed
Plaintiff Steven Rash has filed a "motion of continuation" requesting an additional 75 days in order to compel Defendants to comply with discovery demands prior to trial.
To view all documents in this case click this link http://courtecom.dallascounty.org/pav/ and enter Case# DC1009236 and click "search."
Lawsuit update: New motion filed
Plaintiff Steven Rash has filed a "motion of continuation" requestingv an additional 75 days in order to compel Defendants to comply with discovery demands prior to trial.
To view all documents in this case click this link http://courtecom.dallascounty.org/pav/ and enter Case# DC1009236 and click "search."
100 shares traded= 60% rise?
Seriously... who buys $8 worth of stock? The Subway sandwich 'meal deal' I had for lunch today cost as much. LOL
Bombshells being PBS and Starfest added to lawsuit
Before it was just against Eddie and Artfest. Also of note is the prospect of Eddie, Angie and Scott being held personally liable since the no longer have the protections afforded by active corporations. I assume that means homes, cars and bank accounts can be seized to satisfy judgements. $800k is a big kick to the groin.
Artfest/ Starfest defaulted their corporate status in Nevada'
See the top of page 8 of the new lawsuit which reads:
"According to the Nevada Secretary of State, Defendants have defaulted the corporate status of Defendants Artfest and Starfest. As such, Defendants Vakser, A. Tassan and S. Tassan are individually liable for the acts and omissions committed by those corporate Defendants.
(To view all documents in this case click this link http://courtecom.dallascounty.org/pav/ and enter Case# DC1009236 and click "search.")
Can someone explain what this means? It sounds like there is no corporations in place to protect Eddie, Angie and Scott! PBS Holdings is registered in Nevada... are they in default as well?
BOMBSHELL! Artfest/ PBS/ Starfest/ Vakser/ Tassan lawsuit update
Just posted: Revised lawsuit (15 pages) filed 10-14-11 against:
Artfest Iternational, Inc;
Eddie Vakser,
PBS Holdings, Inc;
Starfest Direct, Inc;
Anzhelika Tassan and Scott Tassan
The suit accuses Vakser and the Tassans of using Artfest, PBS, Starfest and other entities as "sham and/or shell entities for cheating Plaintiff and other investors, fraudulently raising money money from investors which goes directly into the pockets of Defendants and using these sham entities to hide and move cash and other assets in a massive and fraudulent shell game..." The suit also accuses Defendants of lying to the SEC.. accuses Eddie of claiming that ARTS bank accounts are now "virtually drained".. accuses Defendants of multiple cases of fraud, conspiracy, breach of contract and fiduciary duty, unjust enrichment, etc.
To view all documents in this case click this link http://courtecom.dallascounty.org/pav/ and enter Case# DC1009236 and click "search."
Unless a settlement is reached, the new trial date is set for this coming Monday October 24, 2011 at 9:00am.
PBS Holdings lawsuit update --another filing (wowiee)
Just posted: Revised lawsuit (15 pages) filed 10-14-11 against:
Artfest Iternational, Inc;
Eddie Vakser,
PBS Holdings, Inc;
Starfest Direct, Inc;
Anzhelika Tassan and Scott Tassan
The suit accuses Vakser and the Tassans of using Artfest, PBS, Starfest and other entities as "sham and/or shell entities for cheating Plaintiff and other investors, fraudulently raising money money from investors which goes directly into the pockets of Defendants and using these sham entities to hide and move cash and other assets in a massive and fraudulent shell game..." The suit also accuses Defendants of lying to the SEC.
To view all documents in this case click this link http://courtecom.dallascounty.org/pav/ and enter Case# DC1009236 and click "search."
Unless a settlement is reached, the new trial date is set for this coming Monday October 24, 2011 at 9:00am.
ARTS accountant says
"These financial statements are the responsibility of the Company’s management." --and--
"the Company has a large accumulated deficit through December 31, 2010. This condition raises substantial doubt about its ability to continue as a going concern."
Company claims "Goodwill= 3,779,500"
Goodwill valued at nearly $4 million... really?
To every one who said PBS would go from $.50 cents to a nickle.. well you have been proven right today. What a POS
PBS Holdings lawsuit update
A document was filed in the district court of Dallas County on 10-11-11 (8 days ago). This "Citation of Service" was sent via certified mailto PBS Holding's Registered Agent --INCORP SERVICES INC. in Henderson, NV.
USPS Tracking: 70110470000286835389
Status: Delivered
Delivered at 12:25 pm on August 01, 2011 in HENDERSON, NV 89074.
The original 8 page, $800,000.00 lawsuit against against defendants "Eddie Vakser and Artfest" was filed on 7-23-10 of last year. It was amended to 10 pages on 7-28-11 of this year to include PBS Holdings.
To view all documents in this case click this link http://courtecom.dallascounty.org/pav/ and enter Case# DC1009236
Unless a settlement is reached, the new trial date is set for this coming Monday October 24, 2011 at 9:00am.
BMW "giveaway?"
The statement above reads "We're creating stars and we are giving away a BMW to one lucky distributor. Official rules and regulations to appear on the De Vie Sun website. Ready for the kick-off to healthy living!"
I can't find the link to the "official rules and regulations." Can someone assist?
So are you saying that...
There is no true "arms length" relationship between the Vaksers, their other arts & collectibles based public company and PBS? Are you speculating that, contrary to PR statements, the 'command and control' of PBS remains the same? And, if the above is true, are you hinting that investors in PBS might well expect similar results as before?
I'm just wondering when we'll see "That Old MLM Magic" kick in and take one of these turkeys from $400 to $120k (much less $4 million to $120 million) in mere months. With all that ability, experience and (a-hem) history of success, what's the big hold-up?
They wouldn't. And in my opinion, you are absolutely correct, it's nothing but window dressing and a "fresh" coat of paint for the 11% of outstanding stock that insiders do not control.
Of course that 11% number is only accurate as of the date of the PBHG filings with the markets. No one on the outside has any idea what has gone on since, and based on some PR's that have come out since, one has to wonder how much stock has been pushed into the future dilution pipeline.
Why would PBS's largest shareholders distance themselves?
Artfest, Eddie, Angie and Scott own virtally all the stock and --presumably-- still hold all the real power, correct? Could it be the new management and board are merely window dressing designed to buy more time? I'm askin.'
Francoise Gilot speaks for herself
And speaks quite well if you ask me. This interview was conducted at the time of her exhibition in New Orleans on February 20, 2010.. less than a year ago
Eddie -please explain the stock price
Despite your resignation from PBS, despite your installing new "blue chip" leadership, despite your recent PR's, despite your Q&A sessions here, despite your new acquisitions and your big roll-out of DeVieSun this weekend (it is this weekend right?)... your stock is going right down the crapper.
Who among your limited universe of stockholders is dumping shares? You?
Explain why people should believe the following you wrote last week
… "This was NOT our last success story, it was simply our last BIG MLM promotion that we did, and we are now ready to finally do it for ourselves… I’m not embarrassed for the fact that I ran multimillion dollar companies, and that I helped a lot of companies go from ZERO to Millions….I’m here to do the same for the ARTS, PBHG and TSRR….and yes, I expect YOU ( all of you) to help me."
$15 million in revenue???
Under "NEWS" http://www.gtg-co.com/
"Vietnam’s Top 3 Autos Importer on Track to Book $15mil USD in Revenues for Year End 2011"
And yet they sell themselves to PBS???
How did they manage to afford THIS jewel?
Check the stock price!
http://markets.ft.com/research/Markets/Tearsheets/Summary?s=7TU:DEU
No measurable web traffic since May?
http://siteanalytics.compete.com/kaloca.com/
A one-man "management team"
http://www.kaloca.com/?page_id=1342
All God's chillen's got Facebook
http://www.facebook.com/Kaloca.net (I love that he's a 'friend of "Vote Yes on Prop 19" --to legalize marijuana)
http://www.gtg-co.com does not show any measurable web traffic. Both companies are apparently one-man operations (both gentlemen of Vietnamese descent).
So Kalcoa buys GTG... and PBS buys Kalcoa. LOL.
Good point
The stock is worthless and shareholders have been wiped out. The price per share had dropped to .0001 before Eddie's 24,000/1 reverse split recalibrated the pps back to $2.40. That price has since been driven back down to .0001 again. So if you take that original .0001 and divided it again by the 24,000 doesn't that come to a pre-reverse split price of something sub-atomic in size?
How worthless can you get?
Mr. Vakser's resume'
Thank you for your answers to my earlier questions. I'll follow up for more clarification. But I'm confused by something else which I'd like to ask you about:
Q: You have 4 (four) resume's on LinkedIn. In this one you identify yourself as "CEO of PBS Holdings." Does this mean you have not resigned from that company as announced last month?
http://www.linkedin.com/pub/eddie-vakser/38/991/89
The same goes for this one wherein you list yourself as "CEO of Starfest Direct, Inc"
http://www.linkedin.com/pub/eddie-vakser/32/657/b8b
Q: In this one you list yourself as having been a "distributor at International Galleries Incorporated from 2003 – 2006 (3 years)." This sounds as if you had no official role with IGI other than as an occasional freelance vendor and as a member/distributor of their inkjet canvas art prints.
http://www.linkedin.com/in/artfestinternational
Q: Are you (or have you been) exhibiting, promoting or selling any of your old IGI canvasses through Artfest and/or PBS/ Starfest?
Q: Again, have you resigned from PBS as announced and are your (Artfest's) official offices still at Maximedia Studios? Is your 10 year lease still ine effect and do you currently control the entire 37,000 square feet of space there?
I thank you in advance for your reply
Spam perhaps?
If people post the same message here and again over on the PBHG board do they risk deletion for spamming? Just curious.
Mr. Vakser's "last success story"?
By your "last [MLM] success story" you ARE talking about your involvement with International Galleries, Inc., correct? IGI is the company you joined as a member/ distributor after you had a falling out with your employer Jack S., yes? If I'm not mistaken, it was "his" company --Advanced Art-- that was the vendor to Home Interiors & Gifts, correct?
So I assume International Galleries, Inc. the company you made the following claim about:
"During that time he took that company from 10 million to 100 million dollars in less than 6 months. That is why his peers were absolutely astonished when he walked away from millions of dollars based on principles. Mr. Vakser stopped providing his services based on the apparent inequitable and ethical issues within that organization. Even though he left millions behind him, he obtained a tremendous amount of respect within the Art and Printing business community, and allowed his integrity and character stand out...."
http://www.prlog.org/10014630-art-channel-national-television-network-chooses-irving-texas-as-its-new-headquarters.html
And the "Dallas Art company that hired us," which you mention below, was International Galleries, Inc... not Home Interiors & Gifts, right?
Our last success story, involved an Art company here in Dallas, who on the strength of my teams reputation and success with a project that we did for HOME Interiors, passion for the Art, (which increased their art sales by over 30%), When this Dallas Art company hired us, they were at approx $ 4 million in revenue, and we helped them grow to over $ 120 million per year in revenue (plus) in less than 15 moths.
MrVakser: Thank you for going on the record
Regarding your answers to my questions:
Re #1. Does Mr. Bricker or anyone else on the PBS board have any experience running a direct selling/ MLM operation?
Re. #2 DeVieSun: By "proper labels" do you mean FDA nutrition labels or the partial list of things shown in your ads (which don't include the calories, sugars, carbohydrates, sodium, minerals etc)? If so, is there a web link where potential consumers can read this information prior to purchasing the product? Or are you keeping that secret until we join Starfest? I'm not saying your product is bad or worthless but I have nothing concrete to base an opinion on yet.
Re. #3 Why have you not taken advantage of Sotheby's free evaluation and authentication service to determine if your Picasso sculpture is legitimate or not? They are renowned experts and their approval would be worth millions. That would remove all doubt in both your mind and those of your investors. It would also prove you were right all along.
(All of the questions above are specific to PBS Holdings)
The $64 question
Volume= 200 shares x .32 cents= $64 ???
Ask Eddie
We now know for sure that he monitors these forums since he registered under his own name on 10/01/2011 at 11:07:43 PM and has made 5 posts (all but one having been deleted). Newmanater graciously copied his "Dear Shareholders" dissertation for readers on this board.
Anyway, since Eddie has resigned from PBS to focus his attention on Artfest, one should now expect a swift and direct reply to any question.
Dear Shareholders -reply
Mr. Vakser. I'm delighted you feel this is a "healthy exchange" and that you're willing to answer as many questions as we want. However, You don't have to thank anyone for "giving you this forum." You have always had every opportunity to register, identify yourself (as you did last week) and engage in a direct dialogue with shareholders and others. That being said, I'd like to post the following comments questions:
1) Re. Mr. Bricker. I am not looking to trash his reputation or that of his father. My concern was that you put out a PR that appeared to emphasize the fathers' accomplishments over that of his son. He may well be ideally suited to run PBS. But his schooling, travel, office skills and family connections aside, can you tell your investors whether his "Living Without Limits" and "Primeworld Productions" ventures are still in active operation?
2) Re. DeVieSun. Do you have any intention of ever publishing accurate nutritional labeling for this product so that consumers can see what's in it before buying and ingesting it? If not, why not? This is something you can easily do and is very likely required by the FDA. It seems a no-brainer unless you have something to hide.
3) Re. Starfest. One of the products you're selling is a photographic giclee entitled "Homage to Francois Gilot" (with the name 'FrancoisE' misspelled --unlike the correct version that appeared previously on your website, in SEC filings and in all your earlier PR's on this piece). Do you still maintain this image to be of an original sculpture created by Pablo Picasso? If so, why are you not using the name "(by) Picasso" in conjunction with this mis-named image anymore? https://www.starfestdirect.com/MemberToolsDotNet/(S(ihqkm4c45agibpdyevfah3br))/ShoppingCartNew/ProductDetail.aspx?ProductID=18801&CatalogueID=181&PartyID=-1&PartyGuestID=0&InternalUse=1&ProductGroupString=46.147
Regardless of the creator, as an art expert and publisher you are required to have a properly executed document signed by the artist --or the authorized copyright holder who must prove he has signed permission to grant such rights to reproduce this image. Do you have such a document or are you still relying on the say-so of Barry Wicker as stated in this SEC filing? (line 4 http://www.faqs.org/sec-filings/100511/ARTFEST-INTERNATIONAL-INC_8-K/ex2-1.htm )
4) Re. PBS Lawsuit: Can you shed any light on the lawsuit which specifically names you, Artfest and PBS Holdings as co-defendants and which is set for trial on 10-24-11? http://courtecom.dallascounty.org/pav/ Case# DC1009236. Are you actively engaged in mediation or has a settlement been reached?
DeVieSun was not "featured" in a WSJ magazine
Just to be clear, this was a paid advertisement. A "feature" is unpaid and carries the implied endorsement of the publication. That's a big difference.
10,000 shares sold?
Nice round number. An infusion of $2,400. First of the month.. rent must be due ;)))
Public float of only 1,012,730 shares x .24 cents= $243,055. Not a lot to work with if you ask me.
My association with EV is/ was "zilch"
He is apparently creating his own dots and then connecting them. I do find it interesting that he chose to finally register under his own name, begin posting directly (instead of feeding statements through his proxies) and called out Mr. Crockett by name. A Google search shows those two go way back and parted on less than friendly terms.
As far as his latest PR and "Dear Shareholders" letter, I'll digest both and am sure I'll have more than a few questions.