Bravada International Ltd (BRAV)

[Jammin1]

Interesting that they're continuing to do work to clean up the balance sheet.
Danny had "loaned" $800k to the company over the years, maybe by not taking pay, or giving his pay right back to the business. Either way, it was a liability on the balance sheet, of money owed to him, I assume.

Now, he has converted that $800k debt into 1,000,000 Convertible C shares, with 2000 voting rights for each share, essentially giving him more voting rights than all the A shares, and with them being convertible to 80 common shares each, or eventually 80 million shares, which right now would be worth more than double the debt that they're replacing, so it's a fair conversion.

Of course, authorized share count doesn't currently cover the conversion of all these shares.

Anyway, I like that the balance sheet is getting cleaner. Still a ways to go, though.