The figures in that financial statement don't tell about the deception led up to that point, either.
The company had been sponsoring race cars since day 1, not only in NASCAR, but other lesser series. However, the vehicles and teams were always owned by others, at least as far as this company's actions.
Then in 2010, the VP/COO, Daisy Ramirez, bought a truck race team, claiming it had been one of her dreams from when she was a little girl in Honduras, and Daisy Ramirez Motorsports was born. When BBDA shareholders started complaining about it, we were assured it was completely separate from Bebevco, that they had no financial involvement in the team and that they would only be sponsoring the vehicles. Bebevco CEO, Brian Weber, magnanimously volunteered to be the 'interim team manager' until a permanent race team manager could be hired.
Well, somehow they just never managed to find anyone to be the general manager of the team, so without much fanfare, the CEO became the permanent general manager of the team. In fact, he seemed to be pretty much involved on every level with this race team that supposedly had nothing to do with BBDA. In fact, after going through a whole roster of drivers, he ended up in the driver's seat of the truck towards the end of the season for a couple races. Then, the financial statement came out and lo and behold: the entire race team was listed as an expense on Bebevco's statement! I have to guess that the 'branding' line item is the cost of the sponsorship and the rest of the expenses refer directly to operating the team. They never did explain why they needed to form a whole new company (Daisy Ramirez Motorsports), run by the same people who run Bebevco, to nominally embody the race team, while Bebevco listed the operating costs as an expense. Use your imagination.
By the way, the team first apparently leased a "garage-mahal" to house their team and moved the various corporate offices into the upstairs. ( http://investorshub.advfn.com/boards/read_msg.aspx?message_id=44827131 ) I have heard they had to leave due to not making their lease payments and found their next residence at the present location.
At any rate, the team was apparently dissolved after the 2010 season and after the expenses for running the team and the attendant dilution helped run the share count into the stratosphere and the price into the no-bid abyss.
It's pretty obvious these days. Just before a weekend when the CEO has a race, whether he's sponsor, driver, whatever, there's a couple days of heavy dilution to pay for it. If it's addressed by the company, it's always dilution to pay for 'increased production demands' for the product flying out the door by the truckload every day from the orders coming in ringing the phone off the hook, blah, blah, leaps and bounds every day, blah, blah - yet somehow the product just never seems to show up much of anywhere. They do have a whole bunch of it in the warehouse to take pictures of, though! Funny that.
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