This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

ProTek Capital, Inc. Signs Letter Of Intent To Acquire Assets Of ArtFest International Inc.

Stocks in this article: PRPM

DALLAS, April 18, 2013 /PRNewswire/ -- ProTek Capital, Inc. (OTC Markets: PRPM) ("the Company") announces today that it has signed a letter of intent to acquire all of the assets of Artfest International, Inc. ("ArtFest"). The Company will acquire the assets of ArtFest pursuant to a share exchange whereby one share of the Company's common stock will be issued for each share outstanding of ArtFest common stock. Additional terms include the assumption of certain contracts, client's lists, inventory and equipment, as well as certain liabilities of ArtFest.

Barry Mezey, CEO of SuperStar Management Group – a subsidiary of ProTek Capital stated, "ArtFest International is a dynamic company with an existing business and a well known industry brand that sells works of art and sports memorabilia. ArtFest has combined those operations around an integrated ecommerce sales platform with an independent direct sales growth model that run a strong parallel to our business focus in addition to the fact that it will provide an excellent platform to support our expansion plans and complement our strategic vision for shareholder value creation in the near and long term."

The acquisition of ArtFest's assets includes the following businesses, including inventory, equipment, client lists, software, websites, domain names, and the like of: Artfest International, Inc.;  Starfest Direct Inc. – an ecommerce and direct sales platform; shares and interests in PBS Holding Inc., (PBHG) and Tradestar Resources (TSRR), (the "ArtFest Companies"). The ArtFest Companies are expected to continue to grow and prosper while utilizing the synergies to increase the total sales for all companies combined for 2013.

Upon the acquisition and share exchange being completed, approximately 6.3 billion shares of the Company's shares will be issued and outstanding. The acquisition and exchange are subject to customary closing conditions, approval of the board of directors of both companies, and the completion of the due diligence by both companies. There is no assurance or guaranty that the acquisition and share exchange will be completed in its entirety, or at all.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,151.62 +177.31 1.04%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.5670 +17.3410 0.38%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs