Artfest International, Inc (fka ARTS)

[Kool Aid Man]

More Picasso DD

Artfest filed the following statements with the SEC:

"On March 31, 2010, Artfest International, Inc.. (the "Company") entered into an Sell/Purchase Agreement with Barry Wicker whereby Barry Wicker agreed to sell a sculpture attributed to Pablo Picasso.The value of this art piece at current time is unknown and could be worth between $10Millions and $70Millions and the company will be getting an independent appraisal in the near future."
http://secwatch.com/arti/8k/events-or-changes-between-quar/2010/5/11/7200105

HOWEVER... they subsequently published the following appraisal... dated February 23, 2009.. a document created over a year earlier. So were the SEC statements a lie?http://sites.google.com/site/wickarte/francoise-gilot-by-picasso

To my knowledge, no other "appraisal" was ever produced. Nor has the sculpture ever been "authenticated" (i.e. proven to be legitimate and not a forgery).

Comments?