Artfest International, Inc (fka ARTS)

[Kool Aid Man]

Fast Eddie has painted himself into a corner!

It's obvious he struck some sort of "deal" with Barry Wicker (the owner of this Duraflame "Picasso") earlier this year. Probably some stock swap for art scheme (i.e. investor ripoff). And together they found a "rent-an-appraiser" who has speculated what it "might" by worth "IF" it were legitimate. The only thing they've failed to do is provide credible, independent proof of it's "authenticity." All they have is a line of anecdotal baloney about it being "uncataloged" and given directly to a deceased radiologist (who would have to have been very young at the time) by Picasso himself (who died in 1973) in exchange for "personal services rendered".. supposedly "before the value of his work shot up." (what a joke!)

Picasso enjoyed immense critical and financial success early in his career and was keenly aware of precisely what his work was worth. He was notoriously stingy and gave precious little away during his lifetime. Longtime personal friend, art historian and biographer John Richardson was given a small handfull of sketches and minor works over his decades with Picasso. Yet some young radiologist from the US is gifted a major sculpture? Puh-leeeaze.
http://en.wikipedia.org/wiki/John_Richardson_(art_historian) (Goto www.charlierose.com to see interviews with Richardson about Picasso).

Add to that that the fact that this piece bears no resemblance to other work he was doing at the time he supposedly whittled this monstrosity. I challenge anyone to produce a similar wood carved sculpture by Picasso from that same era.

Picasso is arguably THE most faked and forged artist of all time. So without any iron-clad provenance on this thing, it'll never ever sell to a serious collector for substantial amount. Now I'm not saying it can't be sold to someone at some price. Hell, you can sell a bag of dirt if you try. So here's Eddie's dilemma:

1) He fails to sell Barry's "Picasso" and Artfest keeps imploding.

2) He sells Barry's "Picasso" for much MUCH less than the appraised amount and Artfest keeps imploding.

3) He trades or barters Barry's "Picasso" for some other overly inflated "asset" (i.e. another dubious artwork) and Artfest keeps imploding.

4) The Picasso estate, licensing agents and FBI close in and confiscate this sculpture --or conduct a purchase/ sting--- and Artfest implodes as EV and BW head off to the Graybar Hotel.

Eddie has already apparently scuttled his big plans to publish inkjet canvasses of this sculpture... a scheme he announced would raise $2 million for Artfest. Ask him what happened with this!!! Was he so stupid as to swallow Barry Wicker's claim of owning "all rights.. including copyrights" which he and Eddie assured investors in SEC documents?

As always... Eddie is full of little more than grandiose promises, pledges, IOU's and "pie-in-the-sky." The stock is virtually worthless...so why isn't he buying it up left and right? How much stock does Eddie Vakser personally own?