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Artfest International, Inc. to Register Shares in Artfest Direct, Inc.
Date : 07/02/2010 @ 7:15AM
Source : MarketWire
Stock : Artfest International, Inc. (ARTS)
Quote : 0.0006 0.0 (0.00%) @ 7:30AM
Artfest International, Inc. to Register Shares in Artfest Direct, Inc.
Artfest Intl New (BB) (OTCBB:ARTS)
Intraday Stock Chart
Today : Friday 2 July 2010
Artfest International, Inc., (OTCBB: ARTS) is pleased to announce that the Company has instructed its SEC Attorney to file an S-1 Registration with the SEC. The registration will include the shares that were recently given as a dividend to shareholders of Artfest International.
Artfest International has already sent out restricted (unregistered) shares to eligible shareholders who held their shares in Artfest International in Certificate form. Once the registration process is complete and accepted by the SEC, the Company will issue a press release and shareholders who have received these shares will be instructed to send them in the Artfest Direct's Transfer Agent to have the restricted legend removed so they may deposit the shares that will now be free trading with their broker.
Shareholders who held their Artfest International shares in their brokerage account have had their dividend shares in Artfest Direct added as a journal entry on the books of that company at the Transfer Agent. Once the registration is complete, these shares will be distributed via the normal process by the Deposit Trust Corporation (DTC) and credited directly to the shareholder's account with their broker. No action on the part of the shareholder is required if shares were held by your broker.
"We are pleased to be able to initiate the registration process that will make Artfest Direct a publicly traded company and will make all the dividend share free trading," said Edward Vakser, CEO of Artfest International, Inc. "The time period for completing this action sometimes takes a number of months and is not in our direct control. However, the Company will publicly announce as soon as the registration is complete."
About Artfest International, Inc.
Artfest International, Inc. brings together artists, investors, decorators, designers, private collectors and art galleries. Artfest International's corporate site is www.artfestinternational.com. Artfest's subsidiaries are Art Channel, Inc. (www.artchannel.tv), and Artfest Direct, Inc. (www.Artfestdirect.com), offering the most exciting product and rewards program in the history of direct sales marketing.
Safe Harbor Statement
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ARTS does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
For more information, contact:
Investor Relations
Artfest International, Inc.
1-407-389-5900 1-407-389-5900
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