THANX FOR THE MEMORIES...LUXOR International From Rhupert being the next Barney, Kinkade's Collection, Artfest Direct ( Starfest Direct), The ART TV Channel, PBHG, TSRR, Women's Football League, Pat Summerall Films from his Bankrupt Production Company that has yet to see the Light of Day, The Brand New State of The Art Studios aka MAXIMEDIA STUDIOS ( The Real Owners), THE DIVIDENDS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!, AND LAST BUT NOT LEAST....THE PICASSO WOODEN DUMMY. My experience with ARTS was a Learning lesson in trading Stinky Pinkys and I owe it all to the Super Genius...Awbedee Awbedee Awbedee Thats All Folks!!!!!.......eddie was working very hard at ARTS. Looky Here>>>>>> I know its been a long time since my last update. However, I wanted to make sure that things were progressing to the point where an update was both relevant and timely for the events and achievements that we can disclose....
Updates:
.....1. ARTS signed an engagement letter with Gene Egeberg, who have been auditing ARTS for the past 3 years. We believe that barring any unforeseen issues, we should be able to file by year end 2012.
2. ARTS is in possession of direct communication with FINRA, stating that our dividend request was denied due to ARTS not being a "current" filer. And that ARTS can re-submit the dividend issuance corporate action request as soon as the company achieves "current" status. ( we, the management believe that we can submit, and receive an approval for the Q1, 2013.).....
......4. ARTS successfully spun off PBHG and TSRR. As opposed to have "private" companies in the portfolio, we now have public companies, that at today's prices combined will show as at least a $ 16.3 million ARTS assets. (see market caps for each company)......
.......7. I was able to get behind a technology funding group Protek Capital Inc., (PRPM). We have several major acquisitions lined up , and I'm an interim CEO till acquisition is completed. This is strategic acquisition that will benefit ARTS investors. How? We will supply the funding sources for projects, without using "toxic" financing which will enable both companies grow, and not dilute its shareholder base...........
......Here are some of the direct Questions that I get:
Q: 1. Is Artfest out of business?
A: 1. No, we scaled down our operations in anticipation of full completion of our 2011 audit, and get back into OTCBB fully reporting status.
Q: 2. Is the management anticipating a stock reverse split?
A: 2. No, we are not considering a split. Last split that we approved, was for the purposes of filing with American Stock Exchange so that we could trade on the big boards.
Q: Is the Picasso project/deal still "in play"? And what is the status?
A: Yes, we have a third party ARTS investor who is holding the piece under contract, pending our trading status going back to Current filings.
Q: Why was Picasso registered as a "0" dollar value on the books?
A: When we signed the original contract with the seller, we relied on an appraisal that ranged between seven and fifteen million dollars. The management wanted an updated appraisal, that was less than 6 months old, however, the increased pressure and threats that were sent and verbally communicated with the appraiser, forced her to not update the original appraisal. The Art community is very small, and in light of ARTS 5 day suspension, we decided to wait, before we resume our pursuit of getting the piece authenticated and appraised.
Q: Why is the management pursuing the Picasso deal, when it seems simple to just abandon a deal that created so much negative publicity and heat on both the ARTS company and Its CEO?
A: I came from art and music background, that was based on video and content productions.........
.....Q: Why not just let an auction house such as Southey's or similar , just appraise it and see what happens? Or just let the Picasso estate authenticate it?
A: Several reasons. When you do it prematurely, without your own DD , you will not only lose most of the value, but once a piece hits an auction, and DO NOT get the price you want, then its very common in the art world, for even the most proven pieces, spend 30 to 40 years being sort of "black balled" in the auction circuit. And the Picasso estate, is split in several factions as well as the fact that this particular piece is of one of his ex wife's, and there is definitely an emotional tensions between the kids and all the ex wives and mistresses. Guillot, the woman that the piece pays homage to, was not only Picasso's long time love interest and a mother of 2 kids with him. But she is still alive and an accomplished artist herself. There is a reason why while Picasso is attributed to have produced over 30,000 artworks and pieces, the Picasso estate only recognized and registered less than 10,000. Also, the estate insists on having items shipped to them for a review. While that is not necessarily an unreasonable request, they are known to simply destroy the pieces that THEY deemed "not authentic". we are not taking that chance, instead we have our own "forensic" level group that we trust.
Q: Why is it taking so long to get caught up in filings?
A: We had to respond to the SEC and verify every statement and press release that ARTS ever published, and had to prove that the 10K that was missing the original audit letter, was not a lie. And only AFTER we were told to go ahead and work with SEC corporate finance to "catch up" with our filings, we were able to begin to catch up. And that took over 1 year. At this point.The company is eager to complete the filings , get on current status and hopefully continue the [positive momentum that we once had....
Q: Are you as the CEO of ARTS lost focus because of the other spin offs and companies? And is being current in PBHG take away from ARTS being current?
A: No. As we grow, from time to time , I will step in to wherever it is necessary and do what is needed to get things moving. I enjoy what I do, and love to grow ARTS to the level that I believe it could reach. Each company has its own staff and files as fast as possible to stay current.
....In closing; Thank you for your time, and investment in our companies. I realize that not everything that we plan comes to fruition. I also realize that we are building a very ambitious dream and because of that, sometimes people find it hard to believe. But believe is what drives me to complete the dream and the company that I created. And, no matter who is attempting to bring us down, or attempt to find faults or discredit me or the management, in the end, they will only find very focused and hardworking people who as investors and dreamers will see this company become a great company. END OF LETTER.........This Great Company Just Took The BIGGEST DUMP In The TOILET without Water in the BOWL. Thanx EDDIE for always Thinking about The Shareholders!!!!!!!.
AI
