Bravo Multinational Inc. reported no revenue for the fiscal year ending December 31, 2024, mirroring the performance of the previous year. The company has not generated sales since 2022, leading to a gross margin of 0% for both years. However, Bravo's general and administrative expenses increased to $49,681 in 2024 from $18,071 in 2023, primarily due to higher fees associated with its stock transfer agent, marketing, and document conversion. Professional fees also rose to $204,625 in 2024, up from $158,974 in 2023, reflecting the costs of maintaining compliance as a fully reporting company with the SEC.
The net loss for Bravo Multinational decreased significantly to $393,506 in 2024 from $4,847,145 in 2023. This reduction in loss was largely attributed to the previous year's operational loss, which included a substantial goodwill impairment of $4,420,000 related to a rescinded share exchange agreement with Recombinant Productions, Inc. The company’s accumulated deficit now stands at $96,181,171, with total liabilities of $802,397 as of December 31, 2024.
Strategically, Bravo Multinational has shifted its focus from gaming equipment leasing to the entertainment sector, planning to launch a streaming service that offers on-demand content at minimal or no cost to viewers. The company aims to cater to the growing demographic of cord-cutters and align with the expanding advertising-based video on demand (AVOD) market. Despite these ambitions, the company has faced challenges in executing its business plan, as indicated by the cancellation of several proposed acquisitions, including a deal for assets from Streaming TVEE, Inc.
Operationally, Bravo Multinational has undergone significant changes in its management team, with a new board of directors appointed in July 2023. The company also formed a wholly-owned subsidiary, Global Merchandising, Inc., and established an Advisory Board to assist with strategic planning. However, the company has not reported any customer counts or user statistics related to its planned streaming service, and its financial position raises concerns about its ability to continue as a going concern.
Looking ahead, Bravo Multinational acknowledges the need for additional capital to implement its business plan and sustain operations. The company has expressed uncertainty regarding its ability to raise funds and generate revenues, which are critical for its survival. As it navigates these challenges, Bravo Multinational remains focused on creating long-term value for its shareholders through high-growth opportunities in the entertainment, hospitality, and technology sectors.
About Bravo Multinational Inc.
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