Bravada International Ltd (BRAV)

[Meerkat]

capitalized startup costs

For anyone who didnt understand this reference. Start-up costs dont get capitalized yet there are on DA's balance sheet. They should have been expensed as incurred.

The costs for internally created patents,trademarks, internally created goodwill and other intangibles are also not a capitalized expense. (with the exception of the costs of registering it, Legal, fees etc..) Some where probably part of a previous acquisition but I would guess some are not.

If these financials were ever audited and adjusted to be GAAP compliant you probably would not recognize them.


I would be careful when you try to calculate gross profit and net income. Whoever is doing the books is being very liberal in their effort to make BRAV look good.

Please do your own due diligence as I provide no assurance and do not express any opinion relating to the financial statements I discuss.