Replies to post #97208 on Bravada International Ltd (BRAV)

[Beezerr34]

Oh I'm relaxed. I would like to know how you thought the A/S was confusing? What confused you about the way the A/S was provided?

[thatguy157]

I'm not trying to do anything but just posting facts and I know what I'm talking about but you don't have to believe me if you don't want to.

Well perhaps more research and reading of the BRAV financials is necessary.

First of all, I noticed that within the last month (June 30-July 31) the A/s was increased by 8 million

Incorrect. ZERO increase in AS/OS since NOV 2011

I also want to commend the CEO on literally erasing almost all the liabilities of this company.

That is true.

Secondly, in the annual we have a minor error in the authorized versus what is given down below in the summary of the classes of stock which is where it is showing 742 million versus 750 million above....minor...yes. Typo....most likely and wouldn't be concerned about.

No it doesn't.

THAT is a major difference and because of that, it makes the company look like it actually has cash on hand.

See Share Structure Again Unchanged from NOV 2011 like misrepresented above. The company did not raise capital and the cash on hand was positive cash flow that funded and EXPANDED operations.

Now I went ahead and did some math and came to the conclusion that the company should have lost a significant amount of money of there "cash at beginning of period".

Can I see the arithmetic? Please not the ZERO increase in Share Structure.

Furthermore, we have some Internet and computer charges. While every company nowadays is required to have this it should be nothing out of the ordinary; however, when I look down below I notice a second charge for "cables and internet". Is there some sort of double charge? Could someone from the company be charging personal internet use for their home or other residence as a business expense?

Total Cable&Internet 2,920.02

This is an online business and website development for a retail company in L.A. California with 4 different locations. (Melrose, Robertson, Office, Warehouse).

Now there may be cases where this is not true and I do acknowledge that. Usually though, when a company reports on a statement for a consulting fee such as legal, the consulting fee falls under the legal expense header. However, in the annual we have a 170K consulting fee with no specific "home". Along with the annual, we have consulting fees for 35K and 17K respectfully for March Q and July Q. Neither of these of have "homes". So what could these be?

CEO differed Salary.

Meals and entertainment....do these employees get free lunch and concerts while at work?

Meals and Entertainment $457.17

Hmm, the Dinner I had in LA with Danny I am pretty sure our tab with other investors present was a little over 3k.

In LA, if Danny wants to buy the BRAV employees a little pizza or coffee and donuts in the AM, I don't think a 450 dollar expense for taking care of employees is going to put a dent in a 770k quarter.
[

i]The company continues with regards to the Annual that needs to be fixed ASAP, to generate a negative cash flow and if this continues, will have to finance the activity through authorizing additional shares and diluting the market causing a likely decrease in the pps.

Only problem is the facts of the BRAV financials prove this wrong including the ZERO dilution through NOV 2011.

The other item that concerns me is the slow down in revenue from quarter to quarter (Feb-July).

This is a seasonal growing retail business, pretty customary for retail industry, see apple, amazon, best buy for examples of season trends with reference to previous year quarter financials. Quarter over previous year quarter growth is how retail is evaluated, Brav rocked last years top line revenue growth for the same quarter.

Now I wonder if the store closing was in regards to a disagreement in rent rate or the inability to continue payment based upon the facts above with decreasing cash on hand and consistent negative cash flow?

Rent got raised at the store, and the business did not justify a higher fixed cost. Economics 101, and was stated in regards to revenue per square foot. This was announced and anticipated and Revenue Still increased.

Who knows?

Me

I think this company has many things it needs to disclose before it become a viable investment as there are many things left open and that are very suspicious.

Read the financials again, and let me know.

Now who knows, I may be completely wrong, but this is my background and this is part of what I do on a daily basis.

Me too, gave some responses, looking forward to a reply.

GLTA
GO 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.