Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Ride it till the bitter end. Not much else you can do.
Chicks dig big feet, ya know. Just sayin. Stay tough & proud.
I lost everything man I don't know what I'm waiting for to wear clown boots at work (McDonald's)
Not at all. Glad you asked.
Hi Squirrley thanks for the reply always good info I really didn’t know because I haven’t had time to look through the whole document. I didn’t wanna sound argumentative
Hi Squirrley thanks for the reply always good info I really didn’t know because I haven’t had time to look through the whole document. I hope I didn’t sound argumentative
Upon rereading my original post, I didn't really answer your question.
In part it was written poorly. Most of the debt I see they have on the books is at less than favorable terms & exceeds inventory on hand, which was the point I was attempting to make vis-à-vis valuation...
That's difficult to argue with. One could argue they have $3m in inventory & should be worth at least that much (writing off the accumulated deficit & back CEO pay), but with the new debt they have taken out (most stock-based & at toxic terms) that eats that $3m up.
This is what I would call "good new debt". Commendable debt, in fact!
On June 16, 2022, the Company received proceeds related to a loan with Trillium Partners LP in the amount of $100,000. The loan and accrued interest were due on demand. Interest accrues at the rate of 3% per annum. As of June 30, 2022, the principal balance and accrued interest is $100,000 and $307, respectively.
On April 13, 2022, the Company entered into a 12% promissory note in the amount of $127,400 less original issue discount of $13,650 and legal and financing costs of $3,750 for net proceeds of $110,000 with Sixth Street Lending, LLC. The principal and accrued interest is payable on or before April 13, 2023. Any amount of principal or interest on this note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is paid. Accrued, unpaid Interest and outstanding principal, subject to adjustment, shall be paid in ten (10) payments each in the amount of $14,268.80 (a total payback to the Holder of $142,688.). The first payment shall be due May 30, 2022 with nine (9) subsequent payments each month thereafter. The Company shall have a five (5) day grace period with respect to each payment. The Company has right to accelerate payments or prepay in full at any time with no prepayment penalty. At any time following an Event of Default, the Holder shall have the right, to convert all or any part of the outstanding and unpaid amount of this Note into shares of Common Stock. The conversion price shall mean 75% multiplied by the lowest Trading Price for the Common Stock during the ten (10) Trading Days prior to the Conversion Date (representing a discount rate of 25%). For the three and six months ended June 30, 2022, amortization of debt discounts related to this promissory note amounted to $3,718 for both periods which has been amortized and included in amortization of debt discount and deferred financing cost on the accompanying unaudited condensed consolidated statements of operations. During the six months ended June 30, 2022, the Company has repaid back $25,480 related to this promissory note. The outstanding balance at June 30, 2022 was $101,920 with accrued interest of $764.
What NEW debt had he taken out at toxic terms?
That's difficult to argue with. One could argue they have $3m in inventory & should be worth at least that much (writing off the accumulated deficit & back CEO pay), but with the new debt they have taken out (most stock-based & at toxic terms) that eats that $3m up.
I mean, I'm not a business guy - I'm a political scientist - but I've created & run businesses ... both my own & others. I also don't know exactly what is needed vis-a-vis marketing for their products or where that money specifically goes. But that being said, their marketing costs seem way too high. $BRGO is spending almost a third of their net revenue & over half of their gross profit on sales & marketing (doesn't include wages or website presence).
Furthermore, their cost of sales (raw materials) is 45% of net revenue. I don't know the jewelry business, but the way I was learned 45% is too high as well.
Professional & consulting services of $557k?!
Maybe it's me & my ignorance, but even setting aside the toxic borrowing, these expenses seem all out of whack. If Berge is pulling in $2.5 milly a quarter & STILL can't show a before tax profit, I mean, what's in going to take? Five milly in revenue a quarter? Ten?
At this clip of spending, $BRGO won't be in the black by Thanksgiving, let alone by the end of the year. And Q2 was supposed to be a profitable quarter.
Maybe it WAS profitable for Brrge ... just not for the shareholders.
A few snippets from the Q2 financials
"the Company had an accumulated deficit of approximately $17,588,000 at June 30, 2022"
"the Company has received net proceeds of $1,555,000 from the sale of Series D convertible preferred stock" <----Berge openly lied in the last conference call
"As of June 30, 2022, total accounts receivable amounted to $141,386"
"On June 16, 2022, the Company received proceeds related to a loan with Trillium Partners LP in the amount of $100,000"
"On April 13, 2022, the Company entered into a 12% promissory note in the amount of $127,400"
Berge isnt going to be able to resist that $70k @ .0003
I expect the .0003's to be wiped out before Friday
A step closer to the Reverse Split
Well actually at the pace he dilute I think he gets the 5 star escorts in Bangkok.
Lol ... sorry, just read this.
Looks like Berge is now spending our money on cheap Asian street whores in Vietnam
You're right!! For those who can pay to play!! It got rid of the freeloaders!!
Actually they are paying the OTC (not FINRA) the fees in order to be 15c211 compliant. They have to pay the OTC or be dropped to the grays preventing the retailers from buy the shares and retailers are the main source of capital because no institutional or savvy investor would ever touch this stock on the grays.
15c211 was supposed to protect investors but was really a way for scheme pump and dumps to be seen as legitimate by paying the OTC fees to be current under the guise or protecting investors. This is worse than the bank bail out prime mortgage scheme.
15c211 only did one thing. It legitimized pump and dump schemes.
Shorting stocks is like skydiving for a living!! I wouldn't recommend it!! Lol!!
Or wait for another 1:1000 Reverse Split......and short the hell out of it back to .0005
Berge used to trick people into a Bull Run on his Twitter feed to Dump Shares....but if you follow him on Twitter....everyone sees right thru his BullShirt now....and just laugh at him
Also notice He posted his financials on Twitter on Aug 1st....but it hasnt yet been submitted to OTCM <---- He knows the first thing Shareholders look at is how many "New Notes" were taken out in the reporting Quarter
You are absolutely right!! Running like a well oiled machine!! Only hope is to catch it on a bull run and jump off!!
Berge does EXACTLY what on OTC CEO is supposed to do
He sells "Notes" to dump money into his Company (and pocket)
I see Bergio is Pink Current....which means he has paid all of his fees to FINRA and is abiding by their rules
If you invest in this dung....its on you
berge belongs in prison and disgorged.
Your wasting your time here dude
The people holding shares are soooo addicted to Hopium they think Berge poops gold
Considering "Bergio" is a Jewelry store with $6 - $8 Million in sales/year and perhaps a 20% profit Margin....the current Market Cap of $1.7 Million may already be a bit high....lol
New O/S: 3,378,098,362 as of 8/1, up another 144m in a week.
The pyramid is almost on its end though, ponzi is running on fumes until he RS
Have to give Berge credit!! He has a well oiled ponzi scheme!!
pure con artist scumbag--agreed...using brgo as his personal piggy bank
Berge Abajian is a criminal, a liar, a dishonest, a thief, a robber, a conman, a scammer, a crook, a conartist. He is an insecure, greedy, selfish human garbage, He is a disgrace to Armenia and to humanity He scammed everyone who invested in his company with constant lying and endless dilution to benefit himself and no one else. History doesnt lie, two reversed split, massive dilution and endless lies. None of the shareholders have benefited his business because everyone lost money as the stock is hitting new low due to none stop lying and dilution. He is a criminal and he belong in jail. He is a disgusting piece of shit human trash. I should have listened to my friend when he warned me that he is a scammer CEO. Once a conman always a conman. It runs in his blood. I hope bad karma is going to destroy him one way or the other because he is a garbage.
Here is a possible CEO replacement.
Google Gunther Grant Jewelry, email the CEO and ask him. At least they know what they are doing. GUGR dot com.
None of any of that will ever happen. We asked for all of that years ago and his answer was “why should I buy common shares when I own 51 preferred?”
never happen...once these otc crims clear their first CERT
THEY ARE HOOKED....ITS LIKE LEGAL STEALING OF MILLIONS OF DOLLARS
only the sec/doj can stop them
If he wants to see any shareholder confidence here,
he can always announce a share buy back, or get his
friends and family to buy up all these billions of shares!
And better still - step the f down and appoint a capable
CEO, who is not a scam artist!!
I completely agree with you!
It’s just sad - this company could trading be in the pennies
by now, if it wasn’t for the fact that no current shareholders
seem to trust Berge!
Not many OTC companies have real products to sell, and
have revenues coming in … this one does, but the
CEO’s awful reputation precedes him and is hurting
all of us!!
There are so many OTC companies trading at much higher
levels than this one on just hype alone!
He needs to go!
Maybe I missed my calling. Should have been a pink sheet CEO. Pay for everything in shares & when I run out, just R/S & create a bunch more. What the perfect capitalist scam.
To be fair, it was Berge who said toxic borrowing would be unnecessary. Some people (myself included, for a minute), just believed him or, as in my case, believed the numbers bore this statement out & that Berge was an honest actor.
The numbers didn't lie. With some boot-strapping no borrowing against shares is necessary. Berge, however, did lie.
Maybe Berge should just shut up & make his shitty jewelry & leave managing the company to someone who gives two sh*ts (maybe even three) about investors.
just another typical otc pink thief that exploits THE SYSTEM where white collar crime pays the ceo and toxic friends WELL
Agreed. An outside CEO needs to come in, Berge needs to take his place on the board (chairman ... whatever), & CEO needs his own power base free from Berge's control.
Berge won't listen to reason, nor do I think he cares about the shareholders whose money he uses as if it was his own. That he expects to acquire companies & all else with shares, flooding the mkt & driving down the SP, pull an R/S when he runs out of shares to sell, & then get pissed when no one buys shares when he tries to do the same again. Worse yet, he take credit for the revenue increases lately (still not profitable) even though it was investors who bought those companies.
Oh well, at least we saw the end of dilution in late March/early April, as he promised. /s
Sorry, that was kind of ranty. Guy just insults my sense of decantcy whenever I think of him. No one should even consider having pity for this cat - he knows what he's doing & he is pitiless to his shareholders plight.
Such as it is, such as it has ever been. News is ALWAYS posted in conjunction with someone dumping convertibles. Sometimes current shareholders benefit with a pop but it never runs as hard as it should with all the shares being dumped along with the buys.
Why is Berge like every other OTC scam artist CEO??!!
They announce an increase in revenues, and a decrease in
liabilities … all wasted, with the additional shares added to
the float!!
The dilution never ends!
No shareholder confidence till they reduce the float, and stop
diluting!!
Soon we’ll see 4B, 5B, 6B, 7B, 8B, and then 9B shares in the
float, then an RS, to wipe out this group of shareholders too!
Bravo Berge!!
What’s the point of the acquisitions, and posting increased
revenues, if you are constantly screwing over shareholders
with the dilution scam machine??!!!
It’ll take a miracle to get out of the trips again!!
If the balance sheet, and revenues are so great, Berge
should have no problem getting all his friends and family
start to buy up all these billions of shares at 0.0004!!
Announcing a share buyback will do wonders for
shareholder sentiment, and the share price, more than any
revenue increases will. Maybe Berge can even regain a
shred of credibility again!
Still living in hope that we see 0.005 - 0.01 by EOY 2022.
If Berge is VERY lucky he will do $8m in sales for 2022
Lets say his profit margin after expenses is 20%
The Market Cap currently is about right for a Company producing $1.2M/year in profits
But theres no way Berge can maintain his Lifestyle on $1.2M/Year
Will be interesting to see if (how many) Convertible Notes he put thru in the Second Quarter
You talking about the 20 Million on the SELL side or the 1.2 Million on the BUY side....lol
Its still gonna be awhile till Berge does a Reverse Split (My Opinion)
He still has 5.7 Billion shares available to dump before he maxes out the Authorized
Its quite possible @ .0004 he may still be able to dump another 2 Billion....lots of Sheep on the Bid loaded up on Hopium
Wow, this has spurred a huge volume today.
News - August 1. Bergio International Reports Second Quarter Results With Increase In Revenue & Improved Balance Sheet.
https://www.otcmarkets.com/stock/BRGO/news/story?e&id=2279680
Yikes one r/s every 5 years lol think you should scoop those 0001 and 2s that are coming...dont forget to dump before the ceo does
Sales does not equal profits. Overhead and debt are likely to eat into any sales revenue and I think the margins are not what we think. More borrowing to continue the farce and soon another reverse and wipe out of investors.
Kinda reminds me of the Tinder Swindler!
He just keeps moving on from one set of shareholders to the next to keep stealing
from them!
Why is he looking for loans, when he claims that debts are being down … and
the company is making millions of dollars in revenues??
white collar crime that pays very well building berge and family a lifetime of $$$$$$$$$$
Funny that he’s still looking for lenders when his fans(who are currently MIA)have been bleating that all the revenue the company is generating have made the borrowing unnecessary.
Yep, it’s a pattern, max out AS, and keep diluting the OS with hundreds of millions
of worthless shares, then do an RS to wipe out current shareholders … rinse and
repeat!!
Followers
|
524
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
122996
|
Created
|
11/10/09
|
Type
|
Free
|
Moderators |
Transfer Agent (GAGGED)
1859 Whitney Mesa Dr.
Henderson, NV 89014
702-818-5898
www.empirestock.com
info@empirestock.com
SEC Filings
DEF14C announcing 10,000 for 1 Reverse Split.
Delinquent on 2018 10K
Delinquent on 2019 10Q 1st quarter
COMPANY REPORTS RECORD 3RD QUARTER
COMPANY IS DRAMATICALLY REDUCING CONVERTIBLE DEBT!!
https://www.otcmarkets.com/stock/BRGO/news/story?e&id=1721597
Share Structure - At At January 5, 2021:
Authorized Shares: 1,000,000,000 [90% reduction]
Outstanding Shares: 90,827,238
Float: 78,000,000 [confirmed by CEO on November 20]
Note: It is only the Unrestricted Outstanding Shares (or Float when known) count that is relevant to current trading. At a Float of only 78M, this is extremely low for a stock in the .0070 > .1 price range.
Bergio International, Inc. (Ticker Symbol: BRGO) designs and manufactures upscale jewelry. Their products consist of styles and designs made from precious metals such as gold, platinum, diamond, karat gold and other precious stones. The company’s products are divided into three fashion lines: 18K gold, bridal and couture and/or one of kind pieces. Bergio currently sells its jewelry to approximately 50 retailers across the United States and owns a manufacturing facility in New Jersey. The Company is increasing its footprint as a diversified global jewelry designer and manufacturer through acquisitions and consolidation in highly fragmented jewelry industry estimated to generate $160 billion per year. After realizing $2 Million in sales in 2013 the company has began to implement its strategy of growth by acquisition which will in turn help increase these already substantial numbers.
Bergio International, Inc. (Stock Symbol: BRGO) is a Sparkling Gem of the Fine Jewelry Market with Highly Prized Designs; New Acquisition in Play for Global E-Commerce Fulfillment Platform GearBubble
Established Jewelry Design & Sales Company for Famous Bergio Brand.
Worldwide Gross Sales for Mother's Day Period Surpass $1.48 Million.
Plans to Acquire GearBubble, a Global E-Commerce Fulfillment Platform.
Recently Acquired Aphrodite's, a Global Jewelry e-Tailer That has Done $31 Million in Sales in 3.5 Years.
Bergio International, Inc. (BRGO) is a global leader in jewelry design and manufacturing. The Bergio brand, the primary portfolio asset, is associated with high-quality, handcrafted, and individually designed pieces with a European sensibility, Italian craftsmanship, and a bold flair for the unexpected.
Established in 1995, the BRGO signature innovative design, coupled with extraordinary diamonds and precious stones, earned the company recognition as a highly sought-after purveyor of rare and exquisite treasures from around the globe. With family jewelry roots reaching back to the 1930s, BRGO founder, CEO, and designer Berge Abajian is a third-generation jeweler, blending superior knowledge in design and manufacturing to create unparalleled collections in craftsmanship and style. The BRGO Berigo brand features fine jewelry, silver fashion jewelry, bridal, couture, and leather accessories, ranging in price from $50 to $250,000.
BRGO Releases Mother's Day Sales for Aphrodite's
On May 19th BRGO released preliminary Mother's Day sales results for Aphrodite's, a global e-tailer recently acquired for $5 million. For the 2021 Mother's Day sales period from April 1, 2021, through May 9, 2021, the gross sales were over $1.488 million. With over 31,000 online orders, Aphrodite's had a gross margin north of 80% and gross profit of just under $245,000.
As the world continues to recover from the pandemic, BRGO continues to see increased online purchasing trends gaining permanent traction. BRGO also saw an increase in margins due to vertical integration after its acquisition. The Mother's Day sales period was a very positive start to second quarter of 2021 for BRGO.
For more information on Aphrodite's visit: https://www.aphrodites.com.
BRGO to Acquire GearBubble, a Global E-Commerce Fulfillment Platform
On May 12th BRGO announced its intent to acquire 51% of the assets of GearBubble, a premier e-commerce fulfillment platform with over $27 million in revenue from 2020.
For the past four and a half years, GearBubble has processed over $130 million in sales, with over 5 million units sold, and currently has a positive bottom line. Their offering includes shirts, mugs, additional on-demand items, and most recently, jewelry, a product category they look forward to expanding. GearBubble is best known for its seamless eBay, Etsy, and Amazon integrations, which allow their millions of customers to effortlessly launch, scale, and find success in the e-commerce industry.
Donald Wilson, CEO of GearBubble, shared, "We are excited about this acquisition and the possibility to bring high-quality jewelry at a scale to the on-demand eCommerce market. With the vertical integration of Bergio's production capabilities, we will be able to better service our millions of customers and scale much faster than we would have ever been able to do on our own."
Under the terms of the deal, BRGO will form an acquisition subsidiary which will own 51% of Gear Bubble's assets, for which BRGO will pay $2 million at closing in cash and an additional $1.162 million in 15 subsequent monthly cash payments. A binding letter of intent was signed on May 6, 2021, and an Acquisition Agreement is set to be fully executed after a full financial audit of Gear Bubble's assets by July 1, 2021.
The acquisition of GearBubble's assets will strengthen BRGO efforts for expansion into e-commerce and further increase the product categories they offer. The addition will allow BRGO to tap into GearBubble's millions of B2B e-commerce customers and world-class marketing while allowing the e-commerce fulfillment platform to integrate advanced jewelry production, allowing them to disrupt the massive gifting market.
BRGO has always aimed to create designs ahead of the trends with an unwavering commitment to crafting original pieces, incorporating extraordinary diamonds and precious stones. Their perfectly curated collections have gained global recognition and established the brand as a highly sought-after purveyor of rare and exquisite treasures from around the globe.
BRGO has been experiencing exponential growth in 2021. They most recently acquired Aphrodite's, a global jewelry e-tailer that has done $31 million in sales in 3.5 years and $10 million of those during the pandemic. Since acquiring Aphrodite's, BRGO has already increased their production over 100,000 units. They intend to continue their increase in production. BRGO can accomplish this due to its diligent investment in manufacturing technology and expertly skilled human capital.
For more information on GearBubble, visit: https://www.gearbubble.com.
For more information on Bergio International, Inc. (BRGO) visit: www.bergio.com.
As of November 17, 2021 • 8:31 AM ET
DATE/TIME | SOURCE | NEWS RELEASE |
---|---|---|
03/01/2021 07:30 AM EST | GlobeNewswire | Emerging Growth Conference 2 Announced for March 3, 2021 Niche Companies in Technology, AR, eCommerce, Beverage and more in Attendance |
03/01/2021 07:00 AM EST | ACCESSWIRE | Bergio International to Present at the Emerging Growth Conference on March 3, 2021 |
02/18/2021 07:30 AM EST | ACCESSWIRE | Bergio International Announces Acquisition Of Global Online Jewelry Retailer, Aphrodite's |
12/08/2020 10:00 AM EST | ACCESSWIRE | Bergio International Cancels 17 Million Shares, Reducing Outstanding Shares by Almost 20% |
12/01/2020 10:30 AM EST | ACCESSWIRE | Bergio International Announces Multi-phase Stock Buyback |
11/05/2020 08:00 AM EST | ACCESSWIRE | Bergio International, Inc. Announces 90% Authorized Share Reduction |
DISCLAIMER:
Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions.
There is no express or implied solicitation to buy or sell securities.
The author(s) may have positions in the stocks or financial relationships with the company or companies discussed and may trade in the stocks mentioned.
Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered for information purposes only.
No stock exchange has approved or disapproved of the information here.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |