Artfest International, Inc (fka ARTS)

[pete6]

Doesn't this sound like they intend to do spinoffs of various segments/companies of ARTS?

The plan allows the Company to capitalize on the equity in its various subsidiary corporations including Starfest, Charity Sports Distributor and (AIFC) Women's Professional Football League (UWFL), amongst others.

As a result of the diversification of the Company's assets and complexity for its business model, Artfest has chosen to utilize the assets of its subsidiaries to raise additional capital.
In addition, this move will significantly reduce liability and dilution to the parent corporation and its subsidiaries.

"We believe our recapitalization plan represents a balanced approach to refining the Company's capital structure on behalf of our stockholders, while repositioning Artfest International for sustainable growth in earnings over the long-term