Artfest International, Inc (fka ARTS)

[Kool Aid Man]

HERE'S HOW EDDIE DESTROYS SHAREHOLDER VALUE

"As of August 3, 2007, the Registrant (Artfest, Inc) had 28,090,629 shares of common stock outstanding."

http://yahoo.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?SessionID=n4qdWLAZbbqzsfh&ID=5371503

This was mere months before Edwardo got his hooks on this stock which he split into infinity. However, based on his 24,000/1 reverse split, those 28 million shares would now total 1,170. Multiply that by $.70 cents and you have a company worth $819.30.

More history on the Soldnet/ Artfest merger of July 12, 2002
On November 19, 2002, SOLDNET INC., (the"Company") consummated an Agreement and Plan of Reorganization (the "Agreement") with Artfest, Inc., ("Artfest") a Delaware Corporation. Pursuant to the terms and conditions of the Agreement, Artfest was issued 19,685,000 shares of restricted Company common stock in exchange for 19,685,000 common shares of Artfest pursuant to a certain Agreement and Plan of Reorganization. The 19,685,000 common shares represent 80% of the issued and outstanding common shares of Artfest. Artfest provides sales, marketing, financial and e-commerce systems to the industries of Arts, Antiques, Collectibles and Luxury Goods. The markets are serviced by artists, dealers, galleries, and manufacturers of reproductions and luxury goods.

Artfest has identified a niche market to provide a group of highly integrated opportunities to the established network of dealers and artisans. Artfest is targeting the mid-market where items are exchanged with values averaging in excess of $1,000. Other companies operating in that environment such as Ebay have been successful in implementing a flea-market approach and have developed the markets with an average sale in the $35.00 range.

Artfest is comprised of four divisions: The Artfest Festival Division, The Artfest Merchant Services Division, The Artfest Internet Division, and The Artfest Gallery Division.

http://google.brand.edgar-online.com/displayfilinginfo.aspx?filingid=2063856&tabindex=2&type=html

http://www.secinfo.com/dUqRq.3mb.htm

By 2007, Artfest was basically bust and desperate for a merger