Artfest International, a Dallas-based company dedicated to "revolutionizing the sale of art" announced yesterday that it had "received over $1.5 million in equity financing since 2009." Claiming assets of 5.8 million, and revenue of 852,432 since March 31, 2008, the company’s murky operations seem to include direct marketing of sports memorobilia and collectibles, through a network on independent online dealers. On June 10, it announced it had signed an agreement to purchase and re-sell Picasso’s 1949 sculpture "Rendering of Francoise Gilot," which they claim is "independently valued between $50-$70 Million," for $2.5 million in cash and 50 million is $1 "warrants." Artfest’s many news releases always include the blanket disclaimer "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." Their share price is currently $.0007, or seven one-thousandths of a dollar.
also by Bill Davenport
- Lego My Art! - January 30th, 2016
- Archive: Painting on My Planet/The Top Ten Painters in Houston - January 1st, 2016
- Archive: Tire Iron 0: Cropduster: Hills Snyder/Chris Sauter - December 28th, 2015
- DMA Crane Flip Video - April 26th, 2015
- Helmreich New Dean of Fine Arts at TCU - April 25th, 2015