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STOCKHOLDERS' EQUITY
6 Months Ended
Jun. 30, 2013
Notes to Financial Statements  
NOTE 6 - STOCKHOLDERS' EQUITY

In April, 2012, a majority of the shareholders entitled to vote on such matters approved a change of name from Organa Gardens International Inc. to “Bravo Enterprises Ltd.” and a one-for-twenty (1:20) stock split of all of this Company’s outstanding common stock, without any change in par value for the shares of common stock of this Company. The stock split did not include a change in the authorized capital of the Company. On April 23, 2012, a Certificate of Amendment to its Articles of Incorporation was filed with the State of Nevada changing the name to Bravo Enterprises Ltd., effective June 1, 2012.  As advised on May 9, 2012, the Company’s CUSIP Number changed from 68618Y 10 6 to 10567L 10 7. On June 8, 2012, the Company began to trade as Bravo Enterprises Ltd. under the same trading symbol being “OGNG”. Pre-split the total shares outstanding was 61,796,467 and post-split the total shares outstanding was 3,089,823.

 

(1) 2013 Stock Transactions- During the six months ended June 30, 2013:

 

(a) The Company issued 80,000 restricted common shares valued at $8,000 to a consultant for her services earned in 2012.

 

(b) The Company issued 800,000 restricted common shares for cash in the amount of $80,000 pursuant to private placement subscription agreements.
 
(c) The Company issued 62,500 restricted common shares for cash received in 2012 in the amount of $5,000 pursuant to a private placement subscription agreement.

 

(d) The Company issued 150,000 restricted common shares for cash in the amount of $15,000 pursuant to a private placement subscription agreement.
 
(e) The Company issued 4,000,000 common shares for cash in the amount of $52,000 pursuant to the exercise of incentive stock options in accordance  with the 2012 Stock Option Plan.

 

(2) 2012 Stock Transactions - None.

 

(3) 2013 Stock Options

 

The Company’s stock option activity is as follows:

 

    Number of options     Weighted Average Exercise Price    

Weighted Average Remaining Contractual Life

(in years)

 
Balance, December 31, 2011     -       -       -  
Granted during 2012     26,000,000       0.013       5.00  
Exercised during 2012     (19,000,000 )     0.013          
Balance, December 31, 2012     7,000,000       0.013       5.00  
Granted during the period     -       -       -  
Exercised during the period     (4,000,000 )     -       -  
Balance June 30, 2013     3,000,000       0.013       5.00  

 

On December 7, 2012 the Company filed Registration Statements on Form S-8 to register 26,000,000 to be issue pursuant to the Company’s 2012 Stock. Incentive and Option Plan. All 26,000,000 shares have been granted and 23,000,000 have been exercised under the December 2012  Stock Option Plan. In 2012, the Company recognized stock-based compensation of $70,000 in accordance with SFAS 123R which represented the fair value of stock options granted to consultants in exchange for services rendered to the Company.

 

(4) 2012 Stock Options

 

The Company’s stock option activity is as follows:

 

    Number of options     Weighted Average Exercise Price    

Weighted Average Remaining Contractual Life

(in years)

 
Balance, December 31, 2011     -       -       -  
Granted during the period                        
Exercised during the period                        
Balance June 30, 2012     -       -       -