Replies to post #218630 on Bebida Beverage Company (BBDA)

[Whiplash_Investor]

Taxes would have been included in expenses and taken out prior to calculating Net Income. Look at my stickied post at the top of this page. If you discount the amount of money raised from the selling of shares, total assets have decreased by over $400K over the 5 reported quarters. That indicates that they have lost a significant amount of money from operations over that time period and is consistent with their need to dilute in Q1 and again this quarter. Something is stinky with BBDA.

Quote:12/31/2011 Total Assets = $844,054.65
3/31/2013 Total Assets = $928,107.05
Net Increase in Assets = $84,052.40
Cash from dilution 1/1/2012 - 3/31/2013 = $506,355.24
= Net Increase(Decrease) in Assets excluding sale of stock = $(422,302.84)

So, if you factor out cash raised via share issuance the company's operations have actually lost over $400K over those 5 quarters, and yet the income statement shows a net gain of $2.3 million over the same period. Where is the money?

I looked back at all the annual fins back through to 2010 and I haven't located any line item for income taxes paid, so not sure his fins include them at all. 2010 was his most detailed set, but no taxes.

Here are numbers I see:

Year_______Sales________Net Gain_____Assets as of 12/31
2010____$1,496,770______$232,352_________$788,516
2011____$2,374,224______$657,586_________$844,055
2012____$4,555,617____$1,779,527_________$741,538
2013Q1_$1,599,873______$507,865_________$928,107

Of the $928K, $134K was from stock issuance, thus assets only rose $50K from the net gain of $508K. Seems like the numbers are wrong somewhere here.

Conclusion: Assets have increased since Jan 1, 2011 to present by $139,591. Net Gains for the same period (2011 to present) are $2,944,978. Even if $1M in taxes were left out, an asset gain of $134K just seems impossible from an after tax gain of $1.9M.

So something is not right.

[mysterymeat]

Where is the money? Going up in smoke on the Miss Koma Unwind hydroplane.