Artfest International, Inc (fka ARTS)

[Mustache_rider]

agreed. The shareholders are EV, his sister, his brother in law....

Right from the 2010 Q2 10Q. Interesting play on words.

The interesting thing about the increases in authorized shares is that apparently (per the Q page F-7) “the Board of Directors, upon the consent of the shareholders owning a majority of the shares then issued and outstanding, approved a resolution to amend the Articles of Incorporation of the Company to increase the number of authorized shares”

It would be interesting to know who the “majority” shareholders are. I could not find the amended Articles of Incorporation on the SEC EDGARS site. Here is the original Articles of Incorporation: http://www.sec.gov/Archives/edgar/data/1168738/000121478208000137/ex3-1.htm

"It is no use saying, "We are doing our best." You have got to succeed in doing what is necessary." Sir Winston Churchill