Hey guys, as you know I have been in constant contact with Artfest International (ARTI) CEO Edward Vakser. We have all been waiting (a long time) for the closing of the Charity Sports acquisition and virtually all following this stock agree that upon its announcement that ARTI will see a spike to .03-.05 over the couple days following this announcement.
I just received the following email from Edward within the past 10 minutes and wanted to get it out to all of you before the news starts really spreading. If you plan on adding to your ARTI position or entering it for the first time, I suggest getting your order in now, as this email will make you VERY HAPPY!
The email from Edward, copied below, states a couple very important things for those of us holding ARTI. First off, the acquisition of CSD will be announced via press release (they use www.marketwire.com) at noon. You will also see that Mr. Vakser has stated within 4 days of making this acquisition final, the company has to file an 8k to the SEC, which should serve as a timeframe in which ARTI continues it's upward climb, we may see some pullback after the initial jump, but when the 8k is filed, you should see another jump.
A copy of Edward's email is below...
Chris, we just got last minute changes from CSD management, small stuff, not a deal breaker. It seemed that we had it all figured out and there are just a few legal ease “word-smiting”. The PR is ready to go, since both companies need a closure before the other strategic announcements are made.
Noon tomorrow should be it. Also, we have 4 days from signing to file 8k, and that should help everyone to get a better picture as to what the company is doing. I hope that our closure forecast on other acquisition will become more timely and accurate. With Artchannel, Larry and I fast tracked everything, and we used our own cash, so it was easy. However, now we had too many moving parts. Historically, I’ve acquired 8 companies and all of them worked out, however, the common denominator, is that it always took longer than expected. And then, although you can agree on the terms, the lawyers get in and things do change…
Artfest International, Inc.
Chairman & CEO