TradingMarkets.com:
Artfest International, Inc., is pleased to announce that the Company has instructed its SEC Attorney to file an S-1 Registration with the SEC. The registration will include the shares that were recently given as a dividend to shareholders of Artfest International.
Artfest International has already sent out restricted (unregistered) shares to eligible shareholders who held their shares in Artfest International in Certificate form. Once the registration process is complete and accepted by the SEC, the Company will issue a press release and shareholders who have received these shares will be instructed to send them in the Artfest Direct’s Transfer Agent to have the restricted legend removed so they may deposit the shares that will now be free trading with their broker.
Shareholders who held their Artfest International shares in their brokerage account have had their dividend shares in Artfest Direct added as a journal entry on the books of that company at the Transfer Agent. Once the registration is complete, these shares will be distributed via the normal process by the Deposit Trust Corporation (DTC) and credited directly to the shareholder’s account with their broker. No action on the part of the shareholder is required if shares were held by your broker.
“We are pleased to be able to initiate the registration process that will make Artfest Direct a publicly traded company and will make all the dividend share free trading,” said Edward Vakser, CEO of Artfest International, Inc. “The time period for completing this action sometimes takes a number of months and is not in our direct control. However, the Company will publicly announce as soon as the registration is complete.”
Logo from Artfest