Certified moron
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IS EDDIE EVEN AT MAXIMEDIA STUDIOS?
Or is it little more than a glorified mail-drop?
What percentage increase is needed to hit $2.40?
It's $.0022 as I type. And even if it ever did hit the R/S price of $2.40 it still has light years to go for most people to break even.
This stock SUCKS because EDDIE SUCKS
SUCKS as a CEO and SUCKS as a human being. It is where it is --in sub penny land-- because of him, his actions and incompetence.
No PR since December 8th tells me either his back is against the wall or he's under official scrutiny of some sort.
Artfest continues to bleed red ink. However, his December 10-Q/A states "The increase [in revenues] is primarily due to expenses attributed to the Company's wholly owned subsidiary CSD." Eddie should cast off all his other wet dreams (girlie football, TV programs, audio/ visual plans, RFID etc) and concentrate on CSD and art sales. That's a no brainer.. but Eddie is the 'Scarecrow' of Sub-Penny Land... he's stupid, made of straw and has no brain.
http://biz.yahoo.com/e/101223/artsd.ob10-q_a.html
WHAT SAY YE ALL??
Eddie's salary just the tip of the iceberg
re. TRON "Charged does not always prove Guilt"
TRON, this PR is over a YEAR OLD
Eddie squeezed this one out on January 29, 2010. What's your point?
Eddie has been 100% completely queer for audio/ visual technology since his days at Booker T. Washington high school in Dallas. That'd be fine if he could actually make a living at it. But history has shown he can't... at least not for very long. Satellite TV shows, 3-D technology, RFID and other such crapola sounds REALLY impressive to investors --which I guess is all that matters to him.
Hell, every time Eddie signs a deal for toilet paper at Costco he turns it into some grandiose PR release.
To quote TRON's first post here
Saturday, January 01, 2011 6:00:43 PM Post#34921
"Hey I know these guys! The company is REAL! Just surfing IHUB and found them, This could be the REAL McCoy! Looking into it on Monday! This has HUGE POTENTIAL! In the future I can't wait for Monday to make the calls! JMO"
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You "know these guys" but only "just" discovered what they were doing while "surfing IHUB?" Really? And even though you made it sound like you knew little about their activities you declaired "The company is REAL!".. and has "HUGE POTENTIAL."
Really?!!!
A lot of people wish they could sell at the January 1st price --the date you made those comments. You sure know how to call em pal.
The answer is obvious Tron..
Eddie conspired with Barry Wicker to perpetrate a scam which involved using a fake Picasso sculpture (fake because neither guy has provided NO credible authentication whatsoever) and announced plans to generate $2 million in canvas prints. The press release has been removed from the Artfest website. Even so, these announcements still appear all over the Internet and in SEC filings.
Wicker couldn't sell the 'Picasso'
Eddie couldn't sell the 'Picasso'
Eddie doesn't list the 'Picasso' anywhere on the Artfest financials.
It's one more scam.
Ok Tron.. so where are these Picasso canvases?
Artfest International, Inc. to Offer for Sale Limited "Artist Proof" Gold Edition Gilcees of the Picasso Art Sculpture Exclusive
DALLAS, TX, Jun 28, 2010
Artfest International, Inc. (OTCBB: ARTS | PowerRating) is pleased to announce that the Company will offer for sale one hundred "artist proof" gold edition gilcees of "Rendering of Francoise Gilot" Picasso Art Sculpture.The special artist enhanced gilcees of the sculpture will have a purchase price of $10,000 a piece.The Company will also offer for sale 1,000 "Artfest International textured canvas" limited edition gilcees of the Picasso art sculpture with a purchase price of $1,000 per piece.Both editions will be available for purchase starting July 10th exclusively on www.ArtfestDirect.com...
"We are pleased to be able to offer both editions of the gilcees of Picasso's art sculpture to the public.This is a great opportunity for fans of the artist to now own renderings of his work at an affordable purchase price," said Edward Vakser, CEO of Artfest International, Inc.
(Google "artfest international gold edition gilot canvas" for countless PR releases. But for some reason, this announcement no longer seems to appear on the Artfest website)
SO WHERE ARE THESE CANVASES? CAN YOU SHOW ME WHERE THEY APPEAR ANYWHERE ON THE ARTFEST WEBSITE? EDDIE COULD GENERATE THESE FOR A FEW BUCKS EACH. SO WHERE ARE THEY? GO TO THE ARTFEST "NEWSROOM" FOR PRESS RELEASES AND SEE WHERE THIS PR ANNOUNCEMENT HAS MYSTERIOUSLY DISAPPEARED: http://artfestinternational.com/index.php/newsroom?start=12 I PERSONALLY BELIEVE EDDIE GOT BUSTED FOR ATTEMPTED COPYRIGHT VIOLATION. BUT MEANWHILE, PEOPLE KEPT INVESTING BASED ON HIS PR. THAT'S "THEFT BY DECEPTION!!"
Tron: What LAW has Eddie broken you ask?
Let's start with conspiracy to violate US and international copyright and trademark laws in a scheme designed to DEFRAUD investors by announcing plans to publish $2 million worth of canvas prints based on Barry Wicker's alleged 'Picasso' sculpture. Here's your smoking gun:
http://msnmoney.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=7247641&SessionID=Ycl4HoPVNX9Prm9
Exhibit 2.1, Entry #4: "Seller [Wicker] confirms all rights of ownership to include all copyrights, rights to duplicate, and Seller warrants all legal right thereto with full authority to transfer said rights to Artfest"
Self-proclaimed 'art expert' Eddie Vakser knew damn well that Wicker had no such rights. Vakser also knew that --without WRITTEN authorization from the Picasso estate and their North American licensing agent (Artists' Rights Society www.arsny.com)-- that he would be in direct violation of the above laws. And, by publishing without such authority, Vakser put the entire Artfest company in jepordy.
Despite this, Vakser and his board (all of whom are well aware of copyright laws) went ahead with multiple press releases and statements on his website touting his plans to publish and market these fraudulent prints. The fact that this scheme never got any traction is irrelevant. The real intent all along was to hype his stock and sell shares to investors who took him at his word that he would do what he claimed.
Anyone who invested based on these claims and lost their money should contact the SEC as well as the IRS. The money has gone somewhere ...and since there's nothing of real value to this company, one can only conclude that the CEO and his insiders have pocketed the bulk of the proceeds.
PBHG --another Vakser scam or what?
Read this document.
http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=44346
Check out NOTE 10 - Going Concern Issues (Page 17) --basically worthless to anyone but a flim-flammer like Eddie.
and:
Note 13 – Subsequent events (Page 19)
The Company has entered into an agreement with Artfest Inc. to sell all shares of PBS Holding Inc,, the parent in the consolidated entity. The operating companies whose assets, liabilities, equity and results of operations are included in the consolidated financial statements for the year ended December 31, 2010 and 2009, will be “spun out’ of the consolidated entity. These entities will revert to their prior ownership, and the members and shareholders of these entities will exchange their ownership interest for stock in a newly formed corporation, Primary Holding Group Inc.
On page 15 it states: "January 2011 we entered in to a new lease for 2 years at 18945 FM 2252 Garden Ridge, TX 78266. The rent expense is $11,400 each year." A Google Maps search reveals this address to be that of a dinky physical therapy clinic way out in the sticks northeast of San Antonio.
Page 9 states: Business Activity "The business of the Company, is to operate in the human resources outsourcing industries with particular emphasis in the professional employer organization (PEO) industry and the temporary staffing services industry."
WTF DOES THIS HAVE TO DO WITH WHAT ARTFEST IS SUPPOSEDLY ABOUT?
Reorganization plan FAILS
Sept 28, 2010: Artfest International, Inc. Secures $15 Million Reserve Equity
http://www.marketwire.com/press-release/Artfest-International-Inc-Secures-15-Million-Reserve-Equity-Financing-Facility-With-1325906.htm
Nov 17, 2010: Artfest International, Inc. Announces Recapitalization Plan for 2011
The Company will be announcing further details in the next two weeks.
http://www.marketwire.com/press-release/Artfest-International-Inc-Announces-Recapitalization-Plan-for-2011-1355691.htm
Where are the "further details?"
Remember this Artfest FAIL from 2009?
http://artfest.biz/
Somebody PLEASE name me one venture Eddie has started that is actually performing as promised!
One really has to know Eddie to appreciate what a broke-ass, small time hustler he really is. Running around Dallas in his old white van (Cockrell Ave to Arapaho Rd to Metromedia Place to Silverado etccc) desperately trying to get something going to buy gas money, pay his mortgage etc. Dodging collection agencies, getting arrested for stealing cookies and ignoring warrants for unpaid toll charges, lawsuits, evictions. Repeated failures trying to launch an art & collectibles MLM.. failed energy drink business.. failed TV ventures.. fail fail FAIL.
Eddie finally hit pay-dirt when he got his hands on a worthless penny stock. He puts on a helluva show.. countless grandiose PR statements, endless pledges and promises. It's all crashing in on him now. His website hasn't been updated since December 8th. What does that tell ya?
Report him to the IRS. Tell them you want to find out where your money went.
Another 800/1 reverse split= $2.40 again
Eddie can put all the lipstick, makeup, deodorant and perfume he likes on this corpse but it's still rotting
Eddie's "Pee-casso" is an outright fraud
A forgery by an anonymous carver (probably from some village in Africa) intended first to scam tourists and subsequently used by Barry Wicker and Eddie Vakser to dupe and deceive investors.
I hereby and henceforth challenge anyone to produce a similar, legitimate wooden carving by Pablo Picasso.
With very few exceptions, Picasso was >not< a wood carver. Wood carving is an exceptionally tedious, time consuming process and Picasso was far too ADHD for that. Virtually all of his sculptural works were either "assemblages" (junk and stuff he somehow stuck together), clay (which was usually kiln fired) or bronze.
By the time Eddie & Barry claim he carved this stump of theirs, Picasso had been a worldwide celebrity for decades. Consequently virtually everything he did was photographed and cataloged because of it's perceived value and importance. However, NOTHING he ever did during the decades before, during and after even remotely resemble this monstrosity! Plus, by 1949, Picasso was long past his African-influenced "cubism" period.
Most damning of all is Eddies refusal to have this piece "authenticated" by a reputable source such as Sotheby's or Christies --which they will gladly do for free. Eddie knows it's a fake and his self-proclaimed reputation as an art expert will be forever blown.
IS EDDIE AT MAXIMEDIA STUDIOS? UHHHHHH...
A guy I know relayed the following attempt to reach Eddie/ Artfest:
"I called [Maximedia Studios] and they said in a stumbling voice that said "uh.. yes they are here... but hold on and I will try to get you a number." 5 minutes later I hung up. What a bunch of russian cons!!!"
Doesn't exactly sound like Eddie is very important around there --his supposed 'international headquarters.'
Try it yourself:
http://www.maximedia.us
Lawsuits against Artfest
Anyone have an update on the following? Eddie and Vladimir are no strangers to being sued. If Eddie refuses to pay employees (his former President, COO and head of 'investor relations') and landlords (resulting in his eviction), then what makes you think he'll ever pay you?
---------------
PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS.
On July 23, 2010, Mr. Steven Rash, filed a lawsuit in the State of Texas against Artfest International seeking monies owed for services rendered while employed at Artfest from 2008 to 2009. As of the date of this report, Artfest has retained counsel and is working with them to investigate the matter and develop a plan to remedy the issue.
On August 6, 2010, Parker Midway, LP, Artfest’s former landlord (“Parker”), filed suit in the District Court of Dallas County, Texas against Artfest for its alleged breach of its Lease Contract. Artfest entered into a forty (40) month Lease Agreement with Parker in April, 2009. The suit states that Artfest had vacated the premises prior to the end of the lease term and failed to make payments due under the lease constituting a default and breach of the lease. Artfest contends that the lease was amended to provide for a month-to-month lease in early 2010 and that there was no further obligation to Parker. As of the date of this report, Artfest has retained counsel and is working with them to investigate the matter and develop a plan to remedy the issue.
Read more: http://www.faqs.org/sec-filings/101124/ARTFEST-INTERNATIONAL-INC_10-Q.A/#ixzz1E93ggJWf
The warnings about Eddie began years ago
http://scam.com/showthread.php?t=23819
March 14, 2007... long before he got his grubby mits on Larry Ditto's worthless POS penny stock. The Friday before Eddie became CEO of ARTS (aka ARTI) it was valued at $1.00 per share. The Monday he drove it off a cliff and it kept falling.. and falling.. and falling.
This stock will never, ever, ever, EVER recover.
If only Eddie's RFID chip gizmo could have been inserted into each share of ARTS stock to stop him from engaging in massive inflation/ printing of shares and driving down the value of all... HA!
It's not even worth bashing.
I'M ALL IN!!!
Yessiree.. at this rate ARTS will hit $.00000000000000 per share soon. And when it does I'm LOADIN' UP AND GOIN' LOOOONG BABY!!!!
FREE STOCK COMIN' SOON!!!
Reasons why this is not a scam (BULLSH*T)
1)They have a physical location packed with art (physical asset)
THE WEBSITE OF THEIR "PHYSICAL LOCATION" MAKES NO MENTION WHATSOEVER OF ARTFEST OR ANYONE CONNECTED TO IT. MAXIMEDIA STUDIOS MAY BE LITTLE MORE THAN A GLORIFIED MAIL DROP AND A DUMP GROUND FOR EVERYTHING THAT WAS EVICTED FROM THEIR MIDWAY RD. LOCATION (WHOSE LANDLORD IS SUING EDDIE/ARTS) --"PACKED WITH ART"-- MEANING PILES OF UNSOLD SAMPLES I PRESUME.
2)They have a tv station and have upgraded their quality (physical asset) WHEN AND WHERE ARE THEY BROADCASTING RIGHT NOW? MERELY HAVING SOME OBSCURE SATELLITE CHANNEL THAT NO ONE CAN FIND AND WITH NO VIEWERSHIP DOESN'T COUNT.
3)They have in house artists producing product for them, and staff(it's not just a P.O. box) ARTISTS' NAMES PLEASE. ALSO HOW BIG IS THEIR "STAFF" AND HOW MANY ARE NOT OFFICERS, DIRECTORS AND THE IMMEDIATE VAKSER FAMILY?
4)They have major players in the industry getting involved with them NAMES PLEASE. WHAT EXACTLY DO YOU DEFINE AS A "MAJOR PLAYER." ALL I'VE SEEN ARE WASHED-UP HAS-BENS THAT HAVE BEEN DUPED INTO PARTNERING IN EXCHANGE FOR STOCK.
5)They are being very up front and transparent about all actions taken LMAO!!! "ALL ACTIONS".. HAHAHA
6)They invite share holders to come and look around and ask questions VERY SPECIFIC AND POINTED QUESTIONS ARE ASKED RIGHT HERE EVERY DAY BY PEOPLE WHO HAVE INVESTED --AND LOST-- TENS OF THOUSANDS OF DOLLARS. ASIDE FROM THE ODD PRESS RELEASE (WHICH IS BECOMING A RARITY AS THE FINANCIAL NOOSE TIGHTENS), WHY DOES EDDIE REFUSE TO COMMUNICATE IN WRITING AND ON THE RECORD? INSTEAD HE LEAKS DRIBS AND DRABS OF VAGUE PREDICTIONS TO PEOPLE LIKE YOU FOR DISSIMINATION TO THE MASSES.
OTHER THAN CSD, NAME ANY OF EDDIES VENTURES THAT ARE PRODUCING ""ANY"" SIGNIFICANT AMOUNTS OF INCOME>> ART PUBLISHING? TV SHOWS? RUPHERT? RFID? GIRLIE FOOTBALL? PICASSO? MYSTERY "PUBLIC COMPANY?"
ARTS APPEARS TO HAVE VIRTUALLY NO TRAFFIC TO ANY OF THEIR VARIOUS WEBSITES. NO TRAFFIC= NO SALES. WHY? BECAUSE NO ONE CARES ABOUT THIS JOKE OF A COMPANY. AND THE STOCK PRICE CONFIRMS THAT.
(jUST my opinion and I'm entitled to it)
I couldn't agree more
"The company may not be a scam but the people running it are running it like a scam and they are bunch of crooks."
Years spent endlessly raising capital with precious little in the way of tangible value to show for it is one SUCKY business model. Same goes for making endless, grandiose promises which are just barely legal.
IMO, Eddie Vakser has great difficulty in running an honest or ethical enterprise. His history seems to prove that. Prior to ARTS he has shown that he's incapable of peddling prints via MLM. It's just so much easier (and profitable to HIM) to make promises, print and dump stock.
Steven B. Rash- Investor Relations LAWSUIT
Easily found under "Legal Proceedings" of ARTS SEC filings::
"ITEM 1. LEGAL PROCEEDINGS.
On July 23, 2010, Mr. Steven Rash, filed a lawsuit in the State of Texas against Artfest International seeking monies owed for services rendered while employed at Artfest from 2008 to 2009. As of the date of this report, Artfest has retained counsel and is working with them to investigate the matter and develop a plan to remedy the issue.
Read more: http://www.faqs.org/sec-filings/101122/ARTFEST-INTERNATIONAL-INC_10-Q/#ixzz1C53owAhB
Here he is identified as Arts "IR" person
http://findarticles.com/p/articles/mi_pwwi/is_200904/ai_n31595160/
and here::
http://news.center.ag/news-by-cnnmoney.com/page-3/
and here::
http://artfestinternationalinc.com/index.php/news-releases/2-news-releases/8-artfest-international-inc-marketing-strategy-to-focus-on-large-north-american-retailers
Now Tron...why don't YOU provide a few links to back up your hype?
The "Wooden Dummy/ Duraflame Picasso" can reasonably be presumed to be a fake (or at the very least, highly suspect) because of:
1) Lack of provenance. Barry Wicker's claims of origin and chain of ownership are unproven and, therefore, are rightly deemed to be pure hearsay.
2) Being wholly inconsistent with the look and style of ANY sculptural works created by Picasso during the time frame as carved into the figure. In fact, Picasso did precious few wood carvings and --by 1949-- was decades beyond his 'cubist' phase. His sculptures of that era were overwhelmingly assemblages, ceramic or bronze.. not 'whittled' driftwood.
3) Lack of "authentication" (i.e. PROOF) by reputable experts such as Sotheby's or Christies'.. both of whom will do it for FREE. Any "appraisal" (by Veritas or anyone else) is worthless without authentication. It's valuation is only credible IF the thing is proven legit. Here's the link:::
"If you have property you wish to sell, Sotheby's team of specialists and client service representatives can help you through the entire process."http://www.sothebys.com/help/sell/index.html
4) EV's repeated inability to sell a "priceless masterpiece" worth "$50-70 million despite overwhelming demand for major pieces by major artists.. provided they're legit.
5) Announcing plans to publish art prints based on this piece --and raising money in the stock market to do so-- without providing any proof of authorization to do so by the Picasso estate or their north American licensing agent, Artist's Rights Society.
Have Sothebys' evaluate this piece (for FREE) and post the results. If proven legit by them I'll retract every claim of falsehood. Otherwise, it must rightly be deemed a fake.
The same goes for EV's posting of intent to publish prints based on this piece. "Master Mason"/Owner Barry Wicker has no such rights (as claimed in SEC filings). Such rights can only be granted in WRITING. If he has such evidence, then let him post it as proof.
Reasons why this IS a scam
Anyone care to join in the rebuttal? Let me start:
1) Raising money based on a fake Picasso sculpture.
2) Announcing plans to publish illegal prints based on that sculpture
3)
----------------------
Reasons why this is not a scam
They have a physical location packed with art (physical asset)
They have a tv station and have upgraded their quality (physical asset)
They have in house artists producing product for them, and staff(it's not just a P.O. box)
They have major players in the industry getting involved with them
They are being very up front and transparent about all actions taken
They invite share holders to come and look around and ask questions
Is there any way of figuring out exactly how much money has been raised via stock sales? I'm talking the total amount of both ARTI and ARTS since the day of the merger by Eddie and Larry Ditto. Is it $5, 10 million...more? Regardless, where did it go?
Since the stock closed at $.028, isn't it obvious that someone bought at $.02?
Pre-reverse split value as of now
$.027 divded by 24,000 = 1.12500 × 10-6 (that's ten to the minus 6th power). I can't even wrap my brain around such a microscopic number!
Remember, this was $2.40 a few weeks ago
After the 24,000/1 reverse split that is. Who among you would love to have a chance to cash out at that price now?
Down 40% more today.
What "bills" are being paid --besides the salaries of the Vaksers?
Eddie= $180k / $692 daily (5 day weeks/ 52 weeks)
Angie= $150k / $577 daily (5 day weeks/ 52 weeks)
Ditto= unknown
Miner= unknown
Scott= unknown
Castro= unknown
Weis= unknown
The BIG close on Friday barely paid Eddie's salary for ONE DAY and nothing else.
ARTFESTINTERNATIONAL.COM had 93 visitors last month
Go to http://www.compete.com/ and click the "compare sites" tab then key in the website of your choice (you don't need to enter the www). Results are delayed 30 days unless you are a premium user... but the trend-line of each is pretty gruesome!
ARTFESTINTERNATIONAL.COM had 93 'unique visitors' during the last 30 day reporting period (ending 12/20/10).
http://siteanalytics.compete.com/artfestinternational.com/
Artchannelgalleries.com had 116 visitors
http://siteanalytics.compete.com/artchannelgalleries.com/
Charity Sports Distributors fell off the radar back in October with 33 visitors
http://siteanalytics.compete.com/homegameauction.com/
Starfestdirect.com, Artchannel.tv and Luxorart.com each report the following: "Sorry, we do not have a Site Profile for: (website name). The site may have little traffic or we may not have a statistically relevant sample to project the traffic with."
Remember... Artchannelgalleries and ArtchannelTV were both (a-hem) "assets" owned by Eddie which he sold/ traded to Artfest for controlling interest when he merged with Larry Ditto. I wonder what value he places on these two companies and how they skew the Artfest balance sheet.
"Artfest will continue to utilize the assets of its subsidiaries to raise additional capital" ??? No web traffic= no business in my book.
Once Eddie started receiving substantial investment funds all he had to do was begin doing what he had promoted all along. That being publishing artwork which was to be sold via an army of Network Marketers/ Direct Sellers via Multi Level Marketing. He has repeatedly proven what a failure he is.
Eddie learned of this business model while a distributor for International Galleries Inc. Even as IGI was going bankrupt, Eddie tried repeatedly to launch versions of this same scam with not luck. He had licensed a handfull artists, had a few Kool-Aid drinking MLMers and a company he could outsource production to on a C.O.D. basis. Fail, fail, fail.
The only real 'business' of ARTS is flim-flamming investors
Millions raised and virtually nothing to show for it. So where did the money go? How was it used? If not on legitimate business expenses then it has to be somewhere. Into the Vakser's pockets? Stashed offshore? Anyone who has information regarding financial shennanegans or outright fraud, here are some links:
http://www.irs.gov/compliance/index.html
Whistleblower - Informant Award
What is an Informant Award, often referred to as a Whistleblower award? How does one apply for this award, and what would one expect from this award?
http://www.irs.gov/compliance/article/0,,id=180171,00.html
Criminal Enforcement
In support of the overall IRS Mission, Criminal Investigation serves the American public by investigating potential criminal violations of the Internal Revenue Code and related financial crimes in a manner that fosters confidence in the tax system and compliance with the law.
http://www.irs.gov/compliance/enforcement/index.html
Jonah, can you share your story of how you first learned about ARTS (aka. ARTI)? Did you discover the stock on your own --or-- were you solicited by someone? If it was the latter, what sort of sales pitch was used? Reason I ask is I'm curious how your story compares to that of others. TYVM
Make that Boones Farm & Baloney
21,195 x .033= $699.44 ... less broker fees.
What a schmuck :P
Earth to "Tron"
Maximedia Studio was a "beautiful, state of the art facility with many things in production.." (yadda yadda) looong before Eddie became a squatter there. I say squatter because this is where he landed after his eviction from Midway Rd. location earlier this year and the subsequent LAWSUIT by his landlord for unpaid rents, constant use of common areas for events without paying etc.
So answer me this...
How come you don't see a single mention of Eddie Vakser and Artfest anywhere on the Maximedia Studios website? http://www.maximediastudios.com To hear Eddie tell it he practically owns the place yet they refuse to even acknowledge him. Wouldn't having a company worth $2 million and a $50-70 million dollar Picasso as permanent residents be newsworthy?
Or could it be this place is primarily a mail-drop and storage facility for Eddie & Arts? You tell me.
I agree.. I too have wondered just how much bartering of stock has gone on. However, my suspicions are that Eddie sold all of HIS companies (ArtchannelGalleries, ArtchannelTV etc) to Artfest for CASH. Stock is worthless without people to buy it. Eddie knows this.. and he knows he can crank out all the shares he wants and pocket as much cash as he can.
As "Deep Throat" told Woodward and Bernstien during the Watergate investigation... "Follow the money."