Tue, Apr 15, 4:54 PM (12 days ago)
**Bravo Multinational Inc. (BRVO) 2024 Annual Report Summary** **Financial Performance:** - **Revenue:** $0 for 2024 and 2023. - **Net Income:** Loss of $393,506 in 2024, significantly improved from a loss of $4,847,145 in 2023. - **Operating Expenses:** $429,306 in 2024, up from $427,045 in 2023. - **Earnings Per Share:** Basic and diluted loss of $0.01 in 2024, improved from a loss of $0.10 in 2023. **Strategic Overview:** - **Business Transition:** Shift from gaming equipment to entertainment, hospitality, and technology sectors. - **Streaming Service:** Plans to offer on-demand content with a focus on advertising-based video on demand (AVOD). **Future Outlook:** - **Market Growth:** The global video streaming market is projected to grow significantly, with a CAGR of 19.3% from 2023 to 2030. - **Capital Needs:** The company requires additional capital to implement its business plan and continue operations. **Risk Factors:** - **Going Concern:** Substantial doubt about the ability to continue as a going concern due to recurring losses and net current liabilities. - **Financial Condition:** Accumulated deficit of $96,181,171 and working capital deficit of $802,109 as of December 31, 2024. **Market Position Changes:** - **Stock Performance:** BRVO trades on the OTC Markets - Pink, with varying high and low bid prices throughout 2023 and 2024. - **Shareholders:** Approximately 130 stockholders of record, with significant shares held by a few entities and individuals. **Management and Governance:** - **Board and Officers:** Key personnel include Grant Cramer (CEO), Frank Hagan (President), Kayla Slick (COO), Richard Kaiser (CFO), and Josh Vance (Director). - **Corporate Governance:** Lack of independent directors and committees, with all directors participating in audit, finance, compensation, and nomination deliberations. **Financial Condition:** - **Liabilities:** Total liabilities of $802,397 as of December 31, 2024, primarily consisting of accounts payable, accrued expenses, and accrued board of directors fees. - **Cash Flow:** Net cash used in operations was $143,235 in 2024, with net cash provided by financing activities of $142,343. **Auditor's Report:** - **Going Concern:** The financial statements have been prepared assuming the company will continue as a going concern, despite substantial doubt. - **Internal Controls:** Material weaknesses identified in internal control over financial reporting, with plans to remediate deficiencies as capital becomes available. **Conclusion:** Bravo Multinational Inc. is in a critical phase, transitioning its business model and seeking additional capital to sustain operations. The company faces significant financial challenges but aims to leverage the growing streaming market to create long-term value for shareholders.