Bravada International Ltd (BRAV)

[RoMarBro]

That's my feeling too. It says on the website they have a draft of the 2019 fins so it won't be long to release the official numbers.


See here:

https://www.bravada.com/answers/

WHY DID BRAVADA GIVE A PROJECTION FOR 2019 REVENUES IN APRIL AND THEN INCREASE IT IN AUGUST?
In April 2020, the company had provided a range of revenue for full year 2019 that was management prepared and not a final draft. It still had to be reviewed by the company's accountant and taxes filed. The Covid-19 pandemic had forced closure of many offices and our accountants were also affected for sometime even though they were working in a limited capacity from home. The IRS extended tax filings until July 15 during this time. Our accountants had completed our taxes and made some adjusting entries. When we had received our final draft for our 2019 financials, we provided a revised range to investors.

WHY DIDN'T BRAVADA GIVE AN EXACT REVENUE NUMBER INSTEAD OF A REVISED PROJECTION FOR 2019 REVENUES IN AUGUST?
The reason for the August news release was that we were increasing our full year 2020 revenue to a significantly higher range and this is a material change in the business. That was the reason for the PR. However, we also knew our 2019 revenues were slightly higher than previously disclosed so we decided to add that information into the press release as well. We only provide exact numbers on the actual releases of our full financial statements. Until they are disclosed, they will always be a range.

IF THE FULL YEAR 2019 FINANCIALS ARE FINISHED, WHY ARE YOU NOT RELEASING THEM?
Fiscal year 2019 is our latest full year financial release so it requires the full disclosure statement that includes the 2019 financials. Once the 2019 financials are completed the full breadth of information must be compiled, verified and supplemental management discussion completed. Financials are only a part of the full year disclosure statement and it all takes time.