Replies to post #36858 on Artfest International, Inc (fka ARTS)

[JONAH 2]

for what it is worth !!!!!!

as per filing..These financial statements have been prepared with the intent for the Company to make the
publically traded shell corporation, PBS Holding Inc., eligible for relisting as a penny stock. The
Company has entered into an agreement to sell the public shell corporation, see the subsequent
events note below.


Note 13 – Subsequent events
The Company has entered into an agreement with Artfest Inc. to sell all shares of PBS Holding
Inc,, the parent in the consolidated entity. The operating companies whose assets, liabilities,
equity and results of operations are included in the consolidated financial statements for the
year ended December 31, 2010 and 2009, will be “spun out’ of the consolidated entity. These
entities will revert to their prior ownership, and the members and shareholders of these entities
will exchange their ownership interest for stock in a newly formed corporation, Primary Holding
Group Inc.

[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

[AL BUNDY]

Over 50% of the fortune 500 companies has applied for restructure of some sort these past 4 years. Over 75% of the small businesses in the US have filed BK 7, 11 or 13 or just gone under. ARTS has adjusted when it had too.

If you say he had no control of the economy then every Business in the country would be at the bottom where ARTS is.

Please do some DD prior to making those embarrassing statements. Speculation is just that.