My posts are only my opinion. Everyone approaches investing/trading from their own angle. Please do your own DD and make your own decisions. GLTA!
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.
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.
As I said it was due to the 1-10000 reverse split, not because the company is doing great. And we’re down over 99% from that.
Actually if you go back to 9/27/19 the high was $1.00, when it reverse split. The .25 “high” was during the free fall after. Just to add a little perspective here.
The “record Q” came from the write off of one of the notes and had nothing to do with jewelry sales. The PR said that sales were “stable” with last year, which means somewhere around $137k for the quarter.
Yes the record says he has r/s 3 times in 10 years. Not saying he’s doing this now, just that he has a long record of lying.
Not paying off debt with cash. Company is not selling enough to do that. He’s paying off debt with a loan, which he cannot repay at current revenue levels. So look for more convertibles down the pike.
Debt will not be paid off in November. One of the notes will be, with another loan. Regardless of the type there will still be $400-500k in debt, which is not going to be paid off on $550k/yr in revenue. And guess how tiny public companies pay off loans that revenue/profits will not cover?
So they bought yesterday and Tuesday at .008-.012 and since he didn’t drop news today(actually he tweeted that news would be next week so no surprise there), they sold today at .005-.006. Doesn’t seem like very good logic.
Shhh...lol 9m shares sold today, down 40% over the last two days. Why are people selling on such great news?
Or it could be so that conversions can sell at a higher price after the meaningless PR, which is how it’s mostly been.
So, not such a great day today, is “churn” investoreze for “20% drop”?
Great considering when the 1/10000 split happened it was $1.
Agree 23m shares traded today on top of what traded yesterday. This should be much higher with that kind of volume/float.
I’d think no more than half a penny. Consider there are 500m shares for sale directly by the company plus still quite a bit of convertible loans that still have to convert despite the recent settlements. Lots of dilution still to come.
If you read BRGOs recent PR regarding the 3rd Q you’ll know that the revenue is not on a $2m/year pace, it’s more like a $550k/year pace. The pump article was incorrect in its assumption.
Not really when you consider hundreds of thousands of dollars in loans taken to pay off the convertibles. How do you pay off $300k+ plus the convertibles taken over the past year on $500-600k in revenue? After all he did the 1/10000 reverse for a reason.
Very misleading article. Most of the net profit is from the convertible note write off, not revenue. Operating profit was $4k and Berge said in the PR that sales were stable compared with last year’s 3rd quarter, not the $500k the article is screaming about. Tread carefully here.
Hopefully you all sold for profit at today’s high. Already coming back down.
That was due to the 1/10000 reverse split which put the shares at $1 last fall. We’re down over 99% from that previous low.
So according to CEO most of the “net income” came from the convertible debt settlement, not company growth or actually selling jewelry.
That or Berge will dump some of his 17m “restricted” common shares and we drop below .005
The glass is 99.4% empty, down from $1/share at the reverse split to .006. My 7.7m presplit shares are now worth $4.50. I don’t need you to tell me how to see the glass.
Before we get too excited here, understand what the PR says. Revenues were stable compared to last year's 3rd quarter. Last year's 3rd quarter revenue was $137K so look for this year's revenue to be somewhere in that vicinity. There was a small operating profit of $4k, so the net income of $388,846 is an accounting entry, it's not because all of the sudden the company is doing great. Actually $137K of revenue for a quarter for a company with two retail locations and a website is pretty paltry. Before the stores, in 2012 and 2013 BRGO did $2M/year of revenue. Now they're doing about 1/4 of that, many hundreds of thousands of convertible loan dollars later. And it looks like the market gave a big yawn to this remarkable news.
Well I can see the news is having a fabulous effect on the stock price. Now it’s down 99.6% from the pre reverse split all time low.
Great. He did this about 6 or 7 years ago. We got a small pop in price for a day or two and nothing happened. Amazon is not the place to buy jewelry.
“Some form” will be a convertible. You can bank on that.
True, yet he still has to pay that $300k down. BRGO is not even doing $50k per month in revenue so they had to borrow the money to pay that. Guess how that $300k will be paid back?
Don’t forget $300k in convertible notes and 500m shares for sale direct to the public. Doesn’t look quite as good.
This was the big note Berge took in 2014 and never paid back completely. The converted quite a lot of it but less than half overall and I believe Berge settled the rest for less than what was owed by paying installments from a SBA loan. Wonder now how he’ll pay the loan. Probably though convertibles.
Agree, I learned from the 2014 R/S not to hold through the pops and not to buy too much, but I did make money trading it and will continue to do so.
The glass is 99% empty. Nothing wrong with using capital markets but don’t tell your shareholders one thing, which they base investments on, and then do something else.
You'd think so, but this dove so quickly after the R/S(1/10,000 put this at $1 for a second or two, now below a penny), but a week after this was already below a dime, so no change to "let some off". The pump crew is gone now and this is quietly setting downward. I might by at .001 or .002 for a pop, but this is no one's investment.
Haven't gotten the favor of a reply on Twitter and I stopped emailing him months ago. I did ok trading this between the last two r/s and promised myself I'd never hold more than 10M at one time again so didn't lose much on the last r/s, just amazed he did again when he promised us he was raising the A/S to 10B to avoid it. Hoping you get a pop to get what you need to put this in the rearview. There is money to be made trading this, but certainly not any kind of long term hold. I learned that a long time ago.
Here's what I'm talking about:
-On October 29, 2019, the Company entered into a 10% convertible promissory note in the amount of $100,000 with Crown Bridge Partners, LLC
-On November 5, 2019, the Company entered into a 10% convertible promissory note in the amount of $30,000 with Fidelity Capital, LLC
-On October 15, 2019, the Company entered into a 10% convertible note in the amount of $25,000 with RB Capital Partners, Inc
-On May 23, 2019, the Company entered into a loan agreement with Coyne Enterprises, Inc. in the amount of $30,000.
-On June 16, 2020, the Company entered into a loan agreement with Trillium Partner LP in the amount of $12,500.
This is in addition to the SBA loan he claims to have gotten. This is alos in addition to the 500M shares he's attempting to sell at .01, then changed to .007.
And this is after he was supposed to avoid the r/s by increasing the A/S from 6b to 10B, which never happend.
And this is after the R/S when he was supposed to reduce the A/S from 6B to 500M, which never happened.
Am I making sense now?
Nice jump today. Only down 99% from the presplit low now.
They just replaced it with newer notes, and now have an SBA loan to pay off. Guess how that will happen?
A stunning indictment of the otc.
So where’s the pump parade? You guys give up already????
Cool thanks for letting me know.
Yes I think he’s working on a covid vaccine as well.
Where’s he getting the money from? Wait let me guess.