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interesting developments ~ only around 4.5 million shares free trading. after 300/1 RS there was only 1.8 million shares or so. 40 million restricted between management and any extra purchase by and insider 1.6 million share. so 4.5 million issued between 2017 and present day. 2023.
This additional 4.5 million most likely purchased in the low single digits , but actually some maybe around .25. So far 2 million shares have traded since the completed transfer of ownership. The new management + 12 investment groups paid $600k for the shell and the 40 million restricted shares+ the treasurer owns 1.6 million shares that he purchased. Again leaving some 4.5 million free trading shares.
It is obvious that most of the sellers just want out, but of course as the price rises the new buyers become sellers.
It is also very obvious that the new buyers have a strong appetite for shares.
Why?
The upper management is a well known Hollywood movie executive that has a well known track record for very successful movies.
In my opinion , the players wants this stock price higher so as to complete an acquisition using valuable brvo as a currency. I also assume the target may very well be a movie production cmpy or some other media related entity. It may be profitable and since BRVO has a $90 million accumulated deficit ( $2 dollars /share ~ NOL) This amount could easily be used to offset income and i mean a lot of income.
Of course this shell has had a huge advance in a very short time, but there are many actual investors in this shell and they have many friends and it has gone somewhat viral .
Management has moved very quickly ~ did the acquisition, filed all the needed doc for the SEC, did a pop-up website all within a month and brought in enough buyers to move the stock to .80 in 1 1/2 months times. I believe that LOI will be forthcoming soon and could easily move this thinly traded shell to new and sustainable heights.
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