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Re: None

Monday, 01/25/2021 8:07:05 AM

Monday, January 25, 2021 8:07:05 AM

Post# of 136132
I wanted to get a sense of revenue and expense trends, including per share numbers. The annual reports just show totals for one year each, so I made my own table, pulling numbers from https://www.bravada.com/disclosures/. The numbers below for 2020 are the 9 month numbers multiplied by 4/3 (to annualize them). The actual numbers could end up higher considering Q1 was much lower than Q2 and Q3.


2017 full yr 2018 full yr 2019 full yr 2020 annualized (4/3 of 9mo)
Revenues $983,959 $2,691,822 $2,699,744 $4,327,657
Rev aft returns $919,935 $2,637,608 $2,654,760 $4,269,173
Gross Profit $431,955 $1,132,765 $1,077,744 $1,822,524
Total Expense $526,803 $886,107 $1,071,500 $1,041,566
Net Ordnry Income -$94,848 $246,658 $6,244 $780,958
Net Income -$98,779 $250,149 $59,162 $792,564

Equity $330,087 $580,236 $639,398 $1,431,965

PER SHARE
Rev aft returns/sh $0.0013 $0.0037 $0.0038 $0.0061
Net Income/share -$0.0001 $0.0004 $0.0001 $0.0011
Equity/sh (bookval) $0.0005 $0.0008 $0.0009 $0.0020


Note that there was already a rising trend before this year's boost from mask sales. Danny had figured out a system for profitability in 2018. That gives me confidence that profitability will continue even when mask sales fade, as he's learned how to respond quickly to trends.

Given the above, a P/S of around 3 would put it between 1.5 and 2 cents, and a P/E of 12 would put it over 1.3 cents. I feel confident that we should eventually get up to those levels, hopefully very soon.

I'm also encouraged that they've kept expenses flat as revenues rose significantly in 2020. (Of course, COGS was up but that's reflected in gross profit).