Sleeperzzz in the PinkyLand

[alexindef]

ARTI .001

(put just few $ into - good news this morning but no interest so far)

news & DD:
Thursday, February 19 2009 9:34 AM, EST Artfest International, Inc. Announces Letter of Intent to Acquire CSD (Charity Sports Distributor, Inc.) Market Wire    "US Press Releases "
DALLAS, TX -- (MARKET WIRE) -- 02/19/09 -- Artfest International, Inc. (OTCBB: ARTI) announces that the company has signed a Letter of Intent to acquire CSD ( Charity Sports Distributor, Inc. ), which was founded in 1996. CSD is a vertically integrated Texas -based custom framing company which specializes in the design, production, and distribution of authentic framed autographed sports and entertainment collectibles and art pieces. CSD's distribution avenues include B2B and B2C sales, charity fundraising auctions, professional and college sports teams' pro shops, e-stores, online auctions and a revolutionary in-game silent auction concept known as Home Game Auction. CSD's thirteen (13) year experience in the professional and college sports marketplace has developed an extensive client list which consists of hundreds of private charities and over forty (40) professional and college teams, including the Dallas Cowboys, Washington Redskins, Oakland Raiders, Houston Rockets, Dallas Mavericks, Cleveland Cavaliers, Phoenix Suns, Arizona Diamondbacks, Dallas Stars, Ohio State, Texas , Texas A&M, Oklahoma , Alabama , Georgia , Auburn, Florida State and UCLA.
Artfest International, Inc. expects to complete the acquisition during the First Quarter of 2009 and be in a position to launch the distribution of CSD's product line through Art Channel Galleries, the marketing arm and wholly owned subsidiary of Artfest International, Inc. , during the Second Quarter 2009. The addition of CSD's product line in the Second Quarter will complement and expand Artfest International, Inc.'s ongoing product promotions and special purchase packages that are directed towards introducing a select number of acclaimed artists to our members.
CSD recorded revenues in calendar year 2008 of $3.3 million . Upon closing, CSD will operate as a wholly owned subsidiary of Artfest International, Inc.
"We believe that the acquisition of CSD will result in the immediate expansion and enhancement of our current product offerings and will lead to an expansion of our current audience," stated Artfest CEO, Edward Vakser. "Furthermore this acquisition will enable Artfest International, Inc. to vertically integrate framing and canvas stretching operations and enable the company to increase the overall profitability of our product lines which we believe will build greater shareholder value and increased value to our worldwide membership."
"CSD's innovative framing is widely regarded as the premier quality brand in the autographed memorabilia marketplace, and by joining a dynamic company like Artfest International , we now posses the most expansive product portfolio in the autographed collectibles industry," stated Michael Morigi, Senior Vice President - Global Sales.

http://www.artfestinternational.com/
Artfest International, Inc.
The Madison Building
15851 Dallas Parkway, Suite 600
Addison, TX 75001 USA
Phone: [phone]
Fax: [phone]


http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6346150
As of March 28, 2008, 57,855,629 shares of the Issuer's Common Stock were issued and outstanding.

In March 2008, the Company amended its Certificate of Incorporation to increase its authorized shares to 502,000,000, of which 500,000,000 shares are common stock, par value $0.001, and 2,000,000 shares are preferred stock, par value $0.001. The Company then issued an additional 21,500,000 shares of common stock to complete the acquisition of The Art Channel, Inc.

Their business:
Artfest DIRECT – Direct-Sales Model
Art Channel Galleries™ ( www.artchannelgalleries.com ), our wholly owned subsidiary, is our direct-sales proprietary Internet-based company where Associate Members can buy, sell, and trade limited edition signed and numbered fine art and collectibles. Membership is free and Associate Members will be able to create their own website which will bear our brand name. People who become Associate Members will have full support from us, including help setting up their own website, utilizing our software which allows the Associate Member to utilize a global debit card system, and place and fulfill orders for limited edition signed and numbered fine art and collectibles from customers. Fine art is available in high quality and popular formats including Giclée, lithography, and serigraph, which uses a stencil to create sharp lines upon the medium.
Artfest NETWORKS – National TV Syndication and Art Channel
Art Channel Network™ ( www.artchannel.tv ) , our wholly owned subsidiary, provides a range of multi-cultural programming including artist documentaries, live paintings, artist collections, artist interviews, live concerts and other art centric content which is available online and which is syndicated to twenty million viewers in 218 independent television market nation-wide. We are working towards broadcasting our content via Internet Protocol television (“IPTV”) online and acquiring larger slivers of satellite time so that we can eventually broadcast art centric content 24 hours per day, 7 days per week, creating an Art Channel Network which is similar to the History Channel, Home & Garden Channel, etc.
Artfest GALLERIES – Brick and Mortar Galleries and Celebrity Events
Artfest Galleries™ currently consists of one brick and mortar gallery which showcases fine art and collectibles in a traditional gallery setting. On an ongoing basis, we will have luncheons and weekend gala’s locally in Dallas, Texas. We anticipate that we will soon open additional brick and mortar galleries to expand Artfest Galleries™. We will also showcase new artists, special exhibits, and celebrity events in different markets in the United States and internationally in order to attract new Associate Members to www.artchannelgalleries.com .
Artfest AUCTIONS – Online Auctions
My Artfest ™ ( www.myartfest.com ) is an internet auction website which operates and generates revenue similar to eBay™. Through this online revenue medium, galleries, wholesalers, artists, dealers, and private collectors have an art-focused website to auction their fine art and collectibles.


Insiders:
Common Stock Edward Vakser 9,520,000 16.06%
Common Stock Anzhelika Tassan 9,520,000 16.06%
Common Stock Larry D. Ditto 2,500,000 4.22%
Common Stock Jacob D. Cohen 840,000 1.42%
Common Stock Joseph Walsh 5,000,000 8.43%
Common Stock 22,380,000 13.80%

Total: 59.99%