ARTFEST INTERNATIONAL, INC. The Madison Building 15851 Dallas Parkway, Suite 600 Addison, TX 75001 USA 877-278-6672 ~ email@example.com
Dear Friends and Shareholders,
Artfest is quickly becoming a substantial art, memorabilia and collectables company.
Today’s technology and economic climate has created a great opportunity for Artfest to achieve its Global objective: To change the way people buy and collect art and memorabilia.” This objective will be achieved through a host of strategic acquisitions, as well as proprietary technology development.
I am frequently being asked as to what kind of a company Artfest is. The answer may surprise many: We are a technology and media company. Our product is really intellectual property that encompasses our software, artists’ Contracts, athletes’ and professional sports teams’ licensing rights. Our technology is the core of our product management, authentication and distribution. In a world where everything is becoming wireless and electronic, it is only a natural process for Artfest to have its own, very unique, wireless radio frequency identification (RFID) chip technology and management software.
Many may not realize the impact of what Artfest has created. Much like what Microsoft did for the software world, Artfest has created a NEW standard and protocol for art and memorabilia tracking and authentication. Many cell phones already have the ability to “read” an RFID chip. Our technology will allow anyone to scan a painting or a collectable product with their personal digital assistant (PDA) or a cell phone and immediately know the history and provenance of the item. In a world where as many as 70% of collectables are counterfeit (according to FBI), Artfest will protect both the consumer, who is buying the product, as well as the creator.
The impact on the market will be tremendous. Artfest is already in negotiations with insurance companies, underwriters and retailers. This technology is not only a great inventory control tool, but also a great market maker. Where else can you track and see the progression of buy and sell prices for art and memorabilia? So indeed, Artfest is creating a verifiable and quantifiable trading platform.
Artfest recently opened its first Expo center. This will serve as both an events center and a retail location for all of Artfest’s products. We are open seven days per week and host meetings for our members and charity events. Any one interested in visiting us, can call and arrange a tour of our facility with our member relations team, headed by Shirley Casavant at 877-278-6672. Artfest is planning to open two more centers this year, one on the Country’s East Coast and one on the West Coast.
Artfest is now a revenue generating company; we are achieving our goals and revenue targets (Our Q1 2009 Financials can be viewed on our Website and Yahoo Finance). We have negotiated with most of our Note holders to exchange our debt for common stock at an average price of $0.10 to $0.15 cents per share.
Artfest is currently in a merger and acquisition mode. We have identified several companies and expect to complete the first transaction this Quarter.
Finally, the great faith we have always had in our Company is coming to fruition. If you have further questions concerning our accomplishments or future plans, please feel free to contact us.
Edward Vakser Chairman and CEO Artfest International, Inc.