Bravada International Ltd (BRAV)

[icatrade]

DA has already disclosed the information your asking about.
Q1 2010 discusses the MFLI position and dirrection at lenth.

GLTY

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=32046

Management Discussion
The first quarter of 2010, BRAVADA Muscle Flex grew its assets significantly within its TV and
media properties. The Company continues to use its resources for the development of its asset
base and utilize all of its resources to maximize shareholder return and al all times, minimize its
salary base as well as its fixed costs. CEO Danny Alex did not take any portion of his salary
and instead rolled it into a shareholder loan so the resources of the Company can go into the
development of assets that derive cash flow.
In the first quarter of 2010, Muscle Flex Inc. began a number of new initiatives. These initiatives
included a name change to BRAVADA as part of its “brand” restructuring to segment the
component parts of its business. The name of the company is being changed to BRAVADA
International Ltd from Muscle Flex Inc. with Muscle Flex® being the defining health and fitness
brand within the company. With this brand organization, the BRAVADA brand (parent) business
will be primarily that of health, fitness and lifestyle products and services designed with the
average person’s lifestyle in mind with an intended skew to women. The Muscle Flex Brand,
which is to be a division with BRAVADA, will comprise the harder edge and hardcore forms of
health and fitness. As well, BRAVADA Productions shall be organized as a division of
BRAVADA to engage in its television and media development opportunities.
With this new alignment, BRAVADA Muscle Flex entered into a partnership agreement with Kim
Kardashian for its Muscle Flex VATA Brasil Women’s Sports and Activewear Collection. This
alignment is designed for an number of reasons. It gives the BRAVADA brand an immediate
national presence in developing the brand. As well, Kim Kardashian allows for a number of
national promotional and awareness opportunities that will provide BRAVADA with an ongoing
ability to develop the BRAVADA brand into a proposed brick and mortar retail opportunity.
Additionally in the first quarter of 2010, BRAVADA Muscle Flex began development of its TV
reality show, The Complete Package™. The Complete Package was filmed on February 27
and 28 in Los Angeles with its partner TLK Fusion. BRAVADA completed the sizzle reel and
began developing a relationship with a nationally based cable network.
The first quarter of 2010 saw BRAVADA take a number of its cash resources in the
development of the BRAVADA brand and the deployment of The Complete Package into the
marketplace. The online sales portion of the business began late in the quarter and a number of
internet related developments ensued towards the end of March.
The company will continue to finance its activities through shareholder loans and will continue to
raise additional capital to develop the BRAVADA, Muscle Flex and BRAVADA Productions
brands. Until now the Company has relied exclusively on loans from shareholders to continue
to capitalize the company and continue operations. Revenue from product sales has not off-set
the amount of capital needed to bring these products to market and continue operations to date
but the Company anticipates that avenues of revenue shall begin to increase as it continues to
develop and monetize its brands. The Company will continue to raise additional capital either
through continued debt instruments (Shareholder Loans or Convertible Debt Instruments) or the
raising of additional funds through equity if additional capital is required.
Management has determined that each of the three BRAVADA brands will require additional
capital to propel them into profitability. Management intends to reinvest revenues generated
through sales of the products into sales and marketing as well as additional inventory.
Management is very cognisant of maintaining a very low fixed cost base to ensure viability of its
business plan. The Company has no long term lease obligations and currently has only one
employee. Some initial start up fees do apply for the implementation of each brand
Nearing the end of the 2009 fiscal year, Muscle Flex Inc. has determined that one additional
employee shall be added that will oversee the logistics, accounting and daily requirements of
facilitating the business activities of the company as products are deployed.
There is no significant product development or research and development costs expected in
fiscal year 2010 as of right now. The Company has sourced adequate suppliers for all products
and are consumer ready.
The business plan of BRAVADA Muscle Flex comes with a certain amount of uncertainties. It is
impossible to determine the amount of sales that can and will be derived through the
development of its brands. The current economic climate makes for a more challenging
environment by which to procure adequate sales to make each brand profitable and generate
positive cash-flow for the company. However, the lowered sales projections derived from a
slower economic environment also brings benefits from lowered costs of developing each
business segment. There is no way for the Company to know which, if any of its products, will
and can generate positive cash-flow until products are deployed and promotional activities are
allowed to see their full development. Consumer acceptance is a variable that is impossible to
predict and the Company relies on the past performance of other related products and is a
determining factor in selecting its product portfolio.
Legal Proceedings
No Material Proceedings.
Defaults Upon Senior Securities
None
Share Issuance
During the 1st quarter of 2010, Muscle Flex Inc. cancelled and issued shares of class ‘A’
common stock to the following entities:
NAME # OF SHARES
Gregg V. Phan -1,750,000
Alison Martino -25,000
Thomas Jones -50,000
Eddie A. Dang -5,043,750
Juan D. Garcia -1,750,000
Robert N. Phan -1,750,000
TOTAL SHARES CANCELLED -10,368,750
NAME # OF SHARES
Green Leaves Group, LLC 25,600,000
Danny Alex 3,666,666
Complete Advisory Holdings, LLC 1,500,000
Rio Sterling Holdings 4,500,000
TOTAL SHARES ISSUED 35,266,666
Material Change
The Company has not entered into or has terminated any agreements or has any off balance
sheet transactions that would result in a material change in the Company.
Acquisition / Disposition of Assets
The Company has not disposed of any assets. The company bought image rights for marketing
and brand name building.
Company Bylaws
The Company has not amended or changed any of its Company Bylaws
Issuers Certification
The issuer shall include certifications by the Chief Executive Officer and Chief Financial
Officer of the issuer (or any persons with different titles but having the same responsibilities)
I, Danny Alex certify that:
1. I have reviewed this Quarterly Disclosure Statement of Muscle Flex Inc.;
2. Based on my knowledge, this Disclosure Statement does not contain any untrue
statement of material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which these statements were
made, not misleading with respect to the period covered by this Disclosure
Statement; and
3. Based on my knowledge, the financial statements, and other financial information
included or incorporated by reference in this Disclosure Statement, fairly present in
all material respects the financial condition, results of operations and cash flows of
the issuer, as of, and for, the periods presented in this Disclosure Statement.
May 15, 2010
____________________________
Danny