Bravada International Ltd (BRAV)

[jdarcy77]

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