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Subsequent Events
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events

NOTE 11 - Subsequent Events  

On both March 29, 2017 and May 30, 2017 the Company signed agreements to advance two 100 additional gaming machines purchase (as per the Equipment Purchase Contracts signed May 4, 2016) for a total new advance of 200 units in aggregate at a cost of $900,000 to be paid 50% in cash as a loan payable and 50% in common restricted stock.    

On May 30, 2017, the Company’s Board of Directors agreed to hire Ms. Kim Davis, Var Growth, Inc., a Florida Corporation, who has been hiring to provide marketing consultation.  Ms. Davis is to receive 150,000 shares of BRVO restricted 144-shares, 75,000 shares effective May 30, 2017, and the remaining 75,000 to be issued September 30, 2017.  The Contract is for 2-years starting May 30, 2017, at a total cost of $105,000.

On June 2, 2017 the Company issued a promissory note to Mr. Toghrol Dindoust on the principal sum of Twenty Two Thousand Four Hundred Dollars US ($22,400.00), at an at Eight percent interest (8%) rate per annum. Payments of interest were to be made on a quarterly basis from the date of this Note until maturity Twenty Four (24) months from the date. Subsequently, the note immediately converted on June 2, 2017 to 40,000 restricted 144-shares at $0.56 per share; no interest accrued.

 

On June 18, 2017 all shareholders voted in favor to return their issued Preferred 'A' Shares, and agreed to have those share cancelled and return to Company's Preferred 'A'Share treasury, leaving -0- Shares issued and outstanding.

On June 22, 2017 the Company issued a promissory note on the principal sum of $35,000 for 12 months at 8%.  The note was issued as a full settlement on wages resulted from Mr. Martin Wolfe’s past employment contract.

 

On June 30, 2017 the Board of Directors agreed to provide financing for 6-month (due December 30, 2017) at 8% per annum for gaming equipment purchases by Rentcom, Inc. for a financed amount of $76,000, all principle plus $3,040 in interest due in one lump payment by December 30, 2017.  The Loan is guaranteed by Douglas Brooks, Principal officer at Rentcom, Inc.

 

On June 30, 2017 the Board of Directors agreed to provide financing for 6-month (due December 30, 2017) at 8% per annum for gaming equipment purchases by Investcom, Inc. for a financed amount of $152,000, all principle and $6,080 in interest due in one lump payment by December 30, 2017.  The loan is guaranteed by Paul Parliament, Principal Officer at Investcom, Inc.

 

On July 5, 2017 Mr. Martin Wolfe converted his October 3, 2016 Promissory Note of $208,732 plus accrued interest of $12,523 for total note conversion of $221,256 to common restricted shares. The Company issued 72,520 144-restricted Common shares at $3.051 per shares based on a three days trailing average per terms and conditions stated in the note.

 

After March 31, 2017 up through the date of this report, the Company issued 948,655 shares of common stock. This stock was issued for payables related to inventory purchases, accrued compensation and conversion of two (2) notes payable - Mr. Toghrol Dindoust and Mr. Martin Wolfe per above.