Incomplete Auditor’s Note in Brandbee’s Annual Report 2023 Raises Concerns About Tax Payments and Equity

The auditor’s note in the audit report was omitted in the previously published press release 2024-04-23 when Brandbee’s annual report was published.

Brandbee’s annual report for the financial year 2023 is now available as an attached pdf or on the company’s website: https://investor.brandbee.com/finansiella-rapporter

Examiner’s note
Many times during the financial year, withholding tax, value added tax, debt tax and employer contributions were not paid on time. During part of the financial year, the company’s equity has fallen below half of the registered share capital in such a way that the board, according to ch 13 of the Swedish Companies Act, has been obliged to draw up a control balance sheet and ask the reviewer to review it. We have not been sent a control balance sheet.

The company’s opinion:
It is true that the company did not pay taxes and fees on time several times during the financial year. This is the basis of the tight liquidity of the company at the time. However, all taxes and fees were paid, albeit not on time. Throughout the financial year, the board of directors of the parent company has closely followed equity development. New cases were made both during the financial year and after the end of the financial year. There has also been a reduction in the share capital to cover losses. With the new issues made in 2024, the total equity is at the end of Q1/2024. The board has always worked with an equity plan and therefore has not drawn up a control balance sheet.

For more information about Brandbee, please contact:

Magnus Clarenbring, vd
ir@brandbee.com

Brandbee Hold AB is a company particularly active in digital marketing. Brandbee helps businesses create professional video, experts help businesses develop strategies for their digital marketing, focusing on search engine optimization, digital analytics, social media and measurement. Brandbee wants to be the obvious choice for companies that want to strengthen their communication and increase their sales and brand awareness in a cost-effective and simple way. More information about the company is available at www.brandbee.com