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agreed. but that's what i'm saying. there a very little newbies in BRAV lately. until now probably most of the buying was done by shareholders... not that healthy for a stock
suprised? it's hard to get anybody else then current shareholder's to buy this stock right now
at the end of next week BRAV's pps should be at my next entry point. sad but true! at least i'll be able to average down my core holdings...
opposite here, but i guess you've some time to get some funds into your account. this will hit 0.0015 imo.
hahaha
yea!!! many buying oportunities will be coming our way soon!!!
Thanks Danny!!!
does DA still get annoyed about the pps? if so, i'd really like to know who he's blaming.
Great post! I totally agree. Sometimes i wonder where all the optimists went.
the problem is that investors can only guess what he's using the money from dilution for. some is for expansion, but i guess most of it is to keep BRAV breathing. in addition i think we stacked up too much on inventory. 191k in inventory is way too much money sitting in the corner compared to qtrly sales. and i'm pretty sure 1/4 at best of the 191k is for leggings only
I would like to see DA at ABC's show "Shark Tank"!!!!
That is true!!!
well, while this might be true to some extend i'll keep breathing through my nose instead of my mouth so i can smell what's going on.
sad thing is, your guess is as good as mine!!! all speculation here. difference is, your glas is half full, mine is half empty!
dilution is happening to fund the daily/operational business, not so much for expansion imo. expansion is only happening online right now which DA does himself. i also don't think DA buys $50K worth of inventory...
sad but true!
with so many shares outstanding, a lot of people will rather sell into a run then let it run. i'd be suprised to see 0.01 this year again. if i'm wrong, well... i'll be rich not a bad trade-off
well said!!!
An auditor usually sends their staff to do the inventory count. Nonetheless, the practical approach is often slightly different. Therefore employees of the audited company do the count and the auditors verify the cound through samples, testing, etc. However, managment signs and verifys that accruate data were provided to the auditors (which would be the case for the beginning of 2011). Also, a footnote in the FS will disclose details
i think everybody here is. people just don't post about it. i got some shares last week but will stop for now. gltu
and some cups
Thanks Rudy, very much appreciated!
that would be great,thanks!!
Lets also hope that most of this inventory is the new collection and not old leftover pieces from old collections
Imo these shares are very much needed to pay for mistakes made the past 2 years. If it wouldn't be for that we would have an OS of 300million imo
Balance sheet
Would be cool if he starts selling all the inventory on the BS
I hope DA uses some of that money to audit past years
I like! Bravada.com will be the main page and bundle all other online presences.
As you said yourself, its deferred... The only thing that counts is tax, not gaap...
i'm not sure if we're talking about the same thing here... i'm talking about tax benefits... you on the other hand try to justify DA's decison making. i'm not criticizing any of it, all i'm saying is that it could be worth while having DA on payroll in the long run instead of issuing a 1099.
ok, it's time to leave the office and go play... it's too nice out...
glty
agreed. however, DA is the owner of BRAV. therefore the option with the biggest and best benefit should be taken. by the time DA will be able to cash out 1 share for every $5 in revenue the expense should be taken on the level of BRAV to benefit investors...
Well... the question is "who's getting the deduction" for his SS and Medicare payments. BRAV if paying him through payroll or DA himself when getting paid through a 1099.
However, it really depends on the tax bracket DA and BRAV would be in at that point since the value of deductions depends on the tax bracket DA or BRAV are in (for this scenario since DA is the majority shareholder of BRAV)
thanks, as said, that's fine with me if that's the case
thanks, that's fine with me as long as they keep an eye on it when filing the tax return.
Not sure, but i think the question is why DA's "salary" is classified as a consulting fee instead of payroll.
if BRAV for whatever reason issues him a 1099 for his services it should be fine. he doesn't necessarily have to be on payroll.
however, i believe it's a misclassification. furthermore a 1099 applies to paid expenses only, therefore BRAV should be fine as long as BRAV doesn't deduct the expense for tax purposes (m-1 adjustment) - see expenses owed to related taxpayers.
i'd like to ask DA why it's classified as a consulting expense, since there a a few scenarios under which it could be advantageous as well as disadvantages
state and city taxes yes. sales taxes no. sales taxes should be a balance sheet item only and not show up in the P&L since it's not an expense for the company.
the only reason it could be an expense (happened to one of my clients) is when the billing system is not set up yet to compute and collect sales tax. if that is the case it's an expense for the company, but that should only be temporary
says the guy with the fork, haha! well, at least i never announced that i'll bring down the stock even lower and that nobody will make money on it if you don't make money on it.
anyhow, use the fork for someting better the next time
glty
you have to add the payroll taxes of $8k to the $19.5k, so it comes out to $27.5K. imo that's just to high for the turnover the robertson and melrose store generate.
do you have any ideal what the "Rent or Lease" expense of $5.7K is for or why the expense "Sales Taxes" of $2.3K? sales taxes are collected from the buyer by the seller, therefore the buyer should carry the burden, not BRAV.
what about the amortization and depreciation expenses, will those hit us at the end of the year again? (can't find them in the p&l)if that is the case add another 29K for each qtr (as per 2010 annual FS).
it also has to be said that the consulting fees of 39.6K are a non-issue for now since that's DA's salary will be accrued, so it does not affect the cash flow and slow down potential growth.
the increase of it's current assets is due to an increase of inventory only, so get on it and sell that stuff but i like the fact that BRAV has enough inventory on hand to support further growth.
let's hope the complaint from Twilight Cinema doesn't come through so that money can be invested.
@BB: no proof for the in-house accountant needed anymore. this FS doesn't look perfect, but definitely so much better. somebody new with better accounting knowledge must have worked on it
overall, i like the q1 FS and will throw some money at BRAV today
Lets put that topic at rest for now since i'm pleased with Q1 sales. However, if the 2nd qtr FS will be lated again this topic will become up again imo