Bravo Multinational Inc. SEC 10-Q Report

Bravo Multinational Inc., a company focused on the entertainment, hospitality, and technology sectors, has released its Form 10-Q report for the quarter ended September 30, 2024. The report provides a comprehensive overview of the company's financial performance, strategic initiatives, and the challenges it faces as it transitions its business model.

Financial Highlights

The financial performance of Bravo Multinational Inc. for the three and nine months ended September 30, 2024, reflects the company's ongoing transition in business ventures:

• Revenues: $0 million. The company reported no sales for the three and nine months ended September 30, 2024, and 2023.
• Gross Profit: $0 million. With no sales recorded, the gross profit remained at zero for both the three and nine months ended September 30, 2024, and 2023.
• Total Operating Expenses: $61,509 for the three months ended September 30, 2024, compared to $107,732 for the same period in 2023, indicating a decrease due to lower General and Administrative expenses and Professional Fees.
• Net Loss for the Period: $61,509 for the three months ended September 30, 2024, compared to $4,527,732 for the same period in 2023, primarily due to the absence of a goodwill impairment charge in 2024.
• Net Loss for the Period Per Common Shares - Basic and Diluted: $(0.00) for the three months ended September 30, 2024, compared to $(0.09) for the same period in 2023, reflecting the reduced net loss.

Business Highlights

Bravo Multinational Inc. has undergone significant changes in its business strategy and operations:

• Company Overview: Originally formed as Montrose Ventures, Inc., Bravo Multinational Inc. has shifted its focus to the entertainment, hospitality, and technology sectors since its inception in 1989.
• Business Strategy Shift: On July 3, 2023, the company changed its business plan to focus on the entertainment, hospitality, and technology sectors, moving away from its previous focus on gaming equipment.
• Operational Challenges: The company has faced challenges in generating revenue from its new business ventures, as indicated by the lack of sales for the three and nine months ended September 30, 2024, and 2023.
• Management Changes: The company has a diverse management team with extensive experience in the entertainment industry, including CEO Grant Cramer, who has over three decades of experience in the field.
• Subsidiary Operations: Bravo Multinational Inc. operates through its wholly-owned subsidiaries, including Global Merchandising, Inc., Bravo Acquisition Corp., and Mobile 13, Inc. However, the company discontinued its relationship with Mobile 13, Inc. on October 29, 2024, due to a lack of funding and expertise in the mobile telecommunications sector.
• Future Outlook: The company is attempting to continue operations and generate revenues through its new business plan. Management intends to raise additional funds through public or private offerings to support the company's daily operations and strategic initiatives.
• Going Concern: The company has reported recurring losses and has net current liabilities, raising substantial doubt about its ability to continue as a going concern. Management is focused on implementing the business plan and generating revenues to ensure the company's sustainability.

Strategic Initiatives

Bravo Multinational Inc. is actively pursuing strategic initiatives to align with its new business focus:

• Strategic Shift: The company has shifted its business plan from gaming equipment to the entertainment, hospitality, and technology sectors as of July 3, 2023. Additionally, the company formed a wholly-owned subsidiary, Global Merchandising Inc., in July 2023, although it has had no activity through September 30, 2024.
• Capital Management: The company has a significant stockholders' deficit, with total liabilities of $700,966 as of September 30, 2024, and an accumulated deficit of $96,078,741. The company has been managing its capital through related party transactions, with amounts due to related parties increasing to $276,623 by September 30, 2024. The company also wrote off $35,800 of customer deposits during the nine months ended September 30, 2024. There were no unregistered sales of equity securities or stock repurchases during the period ending September 30, 2024.
• Future Outlook: The company is attempting to continue operations and generate revenues, but its cash position may not be sufficient to support daily operations. Management intends to raise additional funds through public or private offerings to support the company's business plan and operations. The company acknowledges substantial doubt about its ability to continue as a going concern due to recurring losses and net current liabilities.

Challenges and Risks

Bravo Multinational Inc. faces several challenges and risks as it transitions its business model:

• Operational Risks: The company has reported no revenues for the three and nine months ended September 30, 2024, and 2023, indicating a significant operational risk due to the lack of income from its business ventures in the entertainment, hospitality, and technology sectors. This lack of revenue, coupled with ongoing operating expenses, has resulted in net losses, highlighting the company's financial instability.
• Liquidity Risks: The company faces a working capital deficit of $699,579 as of September 30, 2024, which poses a liquidity risk. The management acknowledges the need for additional capital to implement its business plan and continue operations, emphasizing the risk of potential cessation or significant changes in operations if capital is not secured.
• Financial Challenges: The company's accumulated deficit of $96,078,741 further underscores the financial challenges it faces. The report also mentions the potential impact of new risk factors that may emerge, which management cannot fully predict or assess, adding to the uncertainty surrounding the company's future performance.

SEC Filing: Bravo Multinational Inc. [ BRVO ] - 10-Q - Nov. 18, 2024