Artfest International, Inc (fka ARTS)

[pete6]

This reads as if the money has already been spent doesn’t it?

“Artfest International, Inc. (OTCBB: ARTS) is pleased to announce that the Company has received over $1.5 million in equity financing since 2009.”


And this next paragraph makes no sense at all. Are they saying that they are going to increase the AS in order to keep borrowing and spending and at the same time dilute an already drained PPS?


“Artfest management's goal is to increase revenues to over $200,000,000 in the next 3 years as stated in the Company's most recent business plan “
.” As a result, the Company has increased its authorized shares so it can continue to receive equity financing.”


It is my opinion that the reason the PPS has continued to fall is because of the double talk contained in the PR’s. AS can easily become OS and this is what the market is reacting to. If this is a mistake then it needs to be fixed before the PPS become .0001 and that can well be any day now.