Bravada International Ltd (BRAV)

[Sharkey]

Factorowitz, I agree that these 2 numbers should always agree exactly. The company has had difficulties in reporting an accurate Statement of Cash Flows. Still not perfect but getting better every quarter.

The difference in the 2 numbers is the depreciation/amortization expense of 363K, plus or minus a few thousand dollars. If the statement started with the actual net loss of $(193,202) and added back this number of 363K, you would get about 169K compared to the 165K starting number they use.

FYI, the company does not report dep'n/amort on a quarterly basis, sometimes not on an anuual basis. This big 363K number was for 2 years of dep'n/amort.

Lastly, in my opinion, most of the assets that are being depreciated/amortized probably have little value left and should be written off as a prior period adjustment. If that were done the quarterly and annual dep'n/amort numbers would be minimal.

Hope this helps.