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It is with great regret that we must today concede, that we have no choice but to cease all activities in relation to the promotion of the event MyFest, planned for 3rd - 5th May 2008. The worst predicted projections for the event's cash flow (income and expenditure) models did not account for the festival having sold just 87 tickets to date, from a total availability of 9000. (3000 weekend, 2000 each day.) One ticket has been sold in the last 48 hours, despite the various costly current press and online advertising and marketing sources. We no longer believe that there is a reasonable prospect of selling sufficient tickets either to cover the event costs, or indeed for the event to take place with a worthwhile number of spectators for visitors, or bands to enjoy the experience. We are bitterly disappointed that we have failed either to reach or to sufficiently enthuse the general public with our vision for the festival.
We must regretfully also write off the substantial losses incurred through advertising and marketing, licencing, insurance, production, and administrative costs to date. (Suppliers please note: ALL outstanding invoices will be settled).
We are extremely disappointed that the many excellent bands and artists who had agreed to perform at the festival have been inconvenienced. Every last act which was scheduled to play earned their place on the bill by virtue of their sheer quality and potential, and we hope and believe that many of these acts will go on to enjoy huge success in the future.
We are also extremely disappointed for the many companies and organisations whose belief in the festival has seen them commit their time, resources or brands to our vision for a new music festival.
We apologise unreservedly to disappointed ticket holders, who will all receive refunds as credits via their chosen payment methods.
NAS Events.
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