I guess I will waste my last post in here for the day.
5 whole posts??? Obviously you are incorrect. Maybe 5 posts in here. But You are obviously trying to be misleading. This is my 15th post today, although one probably doesnt show up because it was deleted because I questioned captain jim's motivations for posting in here.
I gave full disclosure of my position in the company and what my actions were. I gave no recommendation either way. My info will prove to be correct. It may end up not even mattering. If profits are solid, it can easily cancel it out as the effects of this have likely already been priced in. This company should be going up as 2nd qtr reporting is approaching. We arent. We have dipped a bit and now are holding steady.
This statement from their 8k probably shed some light on this and we should have expected it.
"On June 24, 2009, Artfest entered into a financing arrangement with Sunny Isles Venture, LLC (the “Investor”). Pursuant to the terms of an Investment Agreement, the Investor has agreed to purchase from Artfest 12% Convertible Preferred Stock from time to time in traunches of a minimum of fifty thousand ($50,000) dollars and a maximum of two hundred thousand ($200,000) dollars up to an aggregate of five million ($5,000,000) dollars. Artfest may, in its sole discretion, deliver a put notice to the Investor which states the dollar amount which Artfest intends to sell to the Investor. The Investor’s obligation to purchase the Convertible Preferred Stock is subject to certain conditions, including, but not limited to, a minimum bid price sufficient authorized shares and minimum average trading volume of Artfest’s Common Stock."
nobody truly knows what this means exactly, but the several million share trade block settlements all at .0016 probably have something to do with this. Maybe they dont though. All I know is come monday if the 10Q is filed I expect an apology. If this info that was relayed to me is incorrect I will happily come in here and eat some crow. I wont be happy about losing out on my investment by selling half at .0017, but I wont have a problem manning up in here.
furthermore I am going to go ahead and assume you didnt bother calling the transfer company. It is so easy to do. Why wouldnt people at least do that first? I will never understand that. I told you exactly what to say to them.
