Artfest International, Inc (fka ARTS)

[Sculelos]

Go here http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?dcn=0001432093-09-000490

Click on the Balance Sheet. Look at their total issued shares and also authorized shares, then look at the share-holder equity. You should be easily able to verify the information I given you for yourself.

863 Million shares looks accurate to me.

However they did pay 3.5 Million towards shareholders last Quarter so that is a very good sign, if they did that for a whole year that would add up to 14 Million / 1 Billion = .014 cents. So I think this stock isn't overvalued right now but I don't think it's undervalued either. It's about where it should be based on the information they released.