ARTS will meet the requirements of becoming listed on a higher exchange such as the NASDAQ or the AMEX," stated Edward Vakser, CEO of Artfest International, Inc.
Nope. Has to be $4.00 NAS and $2.00 AMEX. You get delisted from NASDAQ at $1.00 but to be listed you have to open with a $4.00 bid. AMEX has several options for listing with teh lowest PPS price being $2.00.
Neither will happen BTW. Not without the reverse of the century.
And why are they raising money to buy the Picasso if the $2.5 Million was already paid per the prior statements of EV?
Q: What does $50 Million one time purchase do for a stock with 20 Billion shares?
A: Not much. It is not like this can be looked at as forward looking revenue but instread a cash asset that will be burned thru quickly and comes with a certain amount of additional dilution.
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