Gediminas Jasionis

Artfest International, Inc. (OTC:ARTS) Stock Rises From The Dead

by Gediminas Jasionis April 7, 2010
ARTS_chart.png
Investing in Artfest International, Inc. (OTC:ARTS, ARTS message board) seemed absurd not too long ago, but the company has come up with news that somewhat dispersed the dark cloud above them.

2artfest_logo.jpgMiniscule spikes and slow declines afterwards, contributing to the overall downtrend, was the most distinct pattern of this stock in 2010. There is no guaranty the latest rally won't be finished in the same manner, but for now the day traders can have their fun. Nearly 270 million shares were traded on Tuesday, as the price spiked up more than 200%.

The latest news the company was spreading was not supported by a corresponding 8-k filing, though the company claims to have signed a distribution agreement with Time Warner. According to the press release they will even get their own channel and could sell ad space during air time.

The company will have a chance to confirm this information in their upcoming 10-k, the filing of which is currently delayed. The same goes for most of their seemingly important announcements made in 2010, that haven't been confirmed with official filings yet.

ARTS holds high expectations for its Q4 financials, expecting a few thousand percent top line growth since the last year. They even claim to have turned to profitability. The audited data is yet to be published though.

In their last reported quarter, the company had depicted a significant top line growth as well, but it was offset by increased business administration costs and called for additional capital to sustain a positive cash flow.

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