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Subsequent Events
9 Months Ended
Sep. 30, 2016
Subsequent Events [Abstract]  
Subsequent Events

NOTE 8- Subsequent Events

Promissory Notes



 

Mr. Parliament is our chairman of the board of the directors, chief executive officer, president and a director. On October 3, 2016 Mr. Parliament returned 34,725,323 common shares to Bravo treasury for cancellation in exchange for a convertible promissory note with a face value of $1,128,573.00.



 

Mr. Wolfe is our former Chief financial officer, principal accounting officer, and treasurer, who resigned due to personal reasons. On October 3, 2016 Mr. Wolfe returned 6,422,547 common shares to Bravo treasury for cancellation in exchange for a convertible promissory note with a face value of $208,732.78.



 

Mr. Brooks is our vice president and a director. On October 3, 2016 Mr. Brooks returned 13,591,363 common shares to Bravo treasury for cancellation in exchange for a convertible promissory note with a face value of $441,719.29.



 

Mr. Kaiser is our Interim CFO, secretary and corporate governance officer, and director. On October 3, 2016 Mr. Kaiser returned 3,050,329 common shares to Bravo treasury for cancellation in exchange for a convertible promissory note with a face value of $99,135.69.



 

Mr. Kosta has a Consulting Agreement with Bravo Multinational Incorporated. On October 3 and 11, 2016 Mr Kosta returned 1,122,997 and 5,333,334 common shares to Bravo treasury for cancellation in exchange for convertible promissory notes with a face value of $36,497.40 and $160,000.

 



Recapitalization

 

The Board of Directors has apporved a recapitalization (reverse stock split). As of the close of business on January 16, 2017, the record date for shares entitled to notice of and to sign written consents in connection with the recapitalization, there were 257,560,828 shares of its common stock and 5,000,000 shares of our preferred stock outstanding. Prior to the mailing of this Information Statement, certain shareholders who represent a majority of  its outstanding voting shares, signed written consents approving each of the actions listed. As a result, the Actions have been approved and neither a meeting of its stockholders nor additional written consents are necessary. They did not ask shareholders for a Proxy and Shareholders are requested not to send a Proxy.  The Actions was to be effective 20 days from the mailing of an Information Statement, which was expected to take place on or around February 13, 2017, and such Actions will result in the following:


1.) Each three hundred shares of common stock outstanding will be converted into one share of common stock of the Company.

 

The Plan of Recapitalization provides for the mandatory exchange of shares from the current common stock to new common stock representing one-three hundredth (1/300th) of the previous number of shares held.


2.) The following persons were elected to the board of directors to serve until the next annual meeting or until their replacement is elected:

 

Paul Parliament

Director

Douglas Brooks

Director

Richard Kaiser

Director


3.) The Articles of Incorporation will be amended to increase the authorized shares to 1,050,000,000, consisting of 1,000,000,000 shares of common stock and 50,000,000 shares of preferred stock. The common and preferred shares will have a par value of $.0001 per share. The preferred shares are blank check preferred and they may be issued with the preferences determined by the board of directors.

 

4.)Kappin Certified Public Accountants, will be approved to act as our outside auditors for our fiscal year ending December 31, 2016 and December 31, 2017.