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When are we expecting news.
Proof
Yes Benhor did you see $CTLL news whoa this is a runner from all indication, I wish I bought more when I had the chance. Same owner both companies.
Good morning *******GTLL**********
True buddy so this is going to fly.
That is not a lot, we need momo this is a good place to be at the moment.
First time am seeing the ask drop, well this will run hard now.Bitcoin player and same own with $CCTL
KAching.
A few 100% will be nice. Nice buying today. Is it the same guy that owns $CCTL that owns $GTLL as well.
GTLL @ 0001 Bitcoin Runner.
Nice buy the buzz is on ******GTLL********* Next big play
Waiting for the rocket to takeoff.***GTLL****
They scared their shorts are about to get burnt lol.
Good morning $GTLL Bitcoin to the moon.
Day Tradexchange added bitcoin to exchange.
Day Tradexchange added bitcoin to exchange.
Business is progressing as planned.
$BYSD The company is generating some respectable revenues through its bitcoin subsidiary. It sells an offline storage system for Bitcoins called Vault 51 that prevents hacking, loss or theft.
Bitcoin Added To Day TradeXchange $SYNJ
http://www.ddninja.com/SYNJ
Bitcoin Added To Day TradeXchange $SYNJ
http://www.ddninja.com/SYNJ
Bitcoin Added To Day TradeXchange $SYNJ
http://www.ddninja.com/SYNJ
Bitcoin Added To Day TradeXchange $SYNJ
Day TradeXchange Adds Bitcoin to exchange.
DD For $SYNJ http://www.ddninja.com/SYNJ
DD For $SYNJ http://www.ddninja.com/SYNJ
No one is buying shit right now. He has to come up with something good, by selling the business and going into crypto or else finito kapsh. He can tweet all he can.
This is not a scam company.
Bergio International Reports Positive Results for Third Quarter 2017
FAIRFIELD, NJ--(Marketwired - Nov 27, 2017) - Bergio International, Inc. ("Bergio", or the "Company") (OTC PINK: BRGO), a leading diversified jewelry designer and manufacturer of fine jewelry, today reported its financial results for the third quarter of fiscal year 2017 ended September 30, 2017.
During the three month ending September 30, 2017, the Company showed total revenue of $225,980 compared to $88,986 for the same period last year, which is an approximate increase of 250%. The gross profit for 3 months increased to 30% compared to a .7% for the same period last year. The gross profit for the nine months ending September 30, 2017 increased to 42% compared to 22.1% for the same period last year.
Also, the total sales for the nine month period ending September 30, 2017 is $408,648 compared to $395,195 for the same period last year. This is an increase of approximately 3%. For the first time in many years, the company showed a net profit for 3 months of $32,322 compared to a loss of ($144,537) for the same period last year. For nine months ending September 30, 2017, there was a loss ($99,267) compared to a loss ($374,142) for the same period last year. This is an improvement of 375% for the same period last year.
The convertible notes as of today are less than what was reported in the 3rd quarter due to conversions that occurred in the fourth quarter.
Mr. Berge Abajian, President and CEO of Bergio International, Inc., stated, "I am very happy with the 3 and 9 month results. This shows all the effort that we have been putting into turning this company around has been achieved. We still have work to do but I can see light at the end of the tunnel." He adds, "As mentioned previously, our new direction will give us total control of our destiny which will improve our revenue and gross margins. We are trying to finalize on our meeting that we had a couple of months back to expand in the retail space, additionally we are in the early stages of discussion with one of the largest diamond manufacturers to become there exclusive distributor in the US," he concluded. "We are exploring all opportunities that are presented to us to forge Bergio forward."
Please follow us on twitter at BergioInternational for updates.
CONTACT INFORMATION
Bergio International, Inc.
Investor Relations
973-227-3230 Ext 13
www.bergio.com
We need to spread the word on tweeter #BRGO GOING BIG
Go $BRGO awesome week coming. PR next week
Truth is someone or group is buying the 1s and putting them back on sale so that this stock does not run. BRGO can be that foolish to keep selling or diluting. This is a conspiracy to ruin this company.
I believe official bitcoin news is on the way.
Vote NO to all recommendations made by the company.
Make sure you vote no.
1. To elect one (1) director of the Company to serve until the 2020 Annual Meeting of Shareholders;
2. To consider and vote upon a proposal to ratify the appointment of Fruci & Associates II, PLLC, as our independent registered public accounting firm for the fiscal year ending December 31, 2017;
3. To grant discretionary authority to the Company’s board of directors to (A) amend the Amended and Restated Articles of Incorporation of the Company to effect one or more consolidations of the issued and outstanding shares of common stock, pursuant to which the shares of common stock would be combined and reclassified into one share of common stock ratios within the range from 1-for-2 up to 1-for-20,000 (the “Reverse Stock Split”) and (B) determine whether to arrange for the disposition of fractional interests by shareholder entitled thereto, to pay in cash the fair value of fractions of a share of common stock as of the time when those entitled to receive such fractions are determined, or to entitle shareholder to receive from the Company’s transfer agent, in lieu of any fractional share, the number of shares of common stock rounded up to the next whole number, provided that, (X) that the Company shall not effect Reverse Stock Splits that, in the aggregate, exceeds 1-for-20,000, and (Y) any Reverse Stock Split is completed no later than the first anniversary of the date of the Annual Meeting; and
4. To transact such other business as may properly come before the Annual Meeting and any adjournments or postponements thereof.
Some people where made to sell at a loss, I hope you liars are happy.
Advicing people about there own money speaks volume. 1 it tells me that you have interior motives to scare people into selling so that you can get in cheaper. A lot of lies are been paraded here by people claiming to have contacted the company, it is all lies. Your money your risk. Right now it is only retail selling.
How is it possible to sell at a loss then you come here to tell everyone, sounds very funny and dubious.
For real most of the people doing this a dubious and they want you to loss your money.
Looking for cheap shares right.
Idiotic speculations going on here, People talking about people losing money fat lie. Better learn to read.
The people making this speculations are people that do not own any share here or are here for a reason to scare people to sell so that they can buy cheap shares and secondly have you thought that this chaps are here to short the shares.
Edited Transcript of JGWE earnings conference call or presentation 14-Nov-17 3:00pm GMT
Q3 2017 JG Wentworth Co Earnings Call
Randor Nov 14, 2017 (Thomson StreetEvents) -- Edited Transcript of JG Wentworth Co earnings conference call or presentation Tuesday, November 14, 2017 at 3:00:00pm GMT
TEXT version of Transcript
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Corporate Participants
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* Erik Hartwell
The J.G. Wentworth Company - VP of IR
* Stewart A. Stockdale
The J.G. Wentworth Company - CEO and Director
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Presentation
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Operator [1]
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Ladies and gentlemen, thank you for standing by. Welcome to The J.G. Wentworth Company's Third Quarter 2017 Earnings Call. (Operator Instructions) Please note that this call is being recorded today, Tuesday, November 14, at 10 AM Eastern Time.
I would now like to turn the meeting over to your host for today's call, Erik Hartwell. Please go ahead.
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Erik Hartwell, The J.G. Wentworth Company - VP of IR [2]
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Thank you, operator. Good morning, everyone, and thank you for joining The J.G. Wentworth Company's Third Quarter 2017 Earnings Conference Call. We have included a brief presentation to accompany our remarks, and you can find a link to this webcast included in the earnings press release. The slides for today's presentation have been posted on the Investors section of jgw.com, along with our earnings press release.
Statements in this conference call and in our earnings press release, other than historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. Factors that might cause the actual results to differ materially are discussed in our earnings press release. The company disclaims any intent or obligation to publicly update or revise any forward-looking statements, regardless of whether new information becomes available, future developments occur or otherwise.
One of the items we will speak about today is segment-adjusted earnings before interest expense, taxes, depreciation and amortization, or segment-adjusted EBITDA. Segment-adjusted EBITDA is a measure of our segments' profitability that our CEO uses to assess segment performance. We define segment-adjusted EBITDA as our net income or losses under U.S. GAAP before noncash compensation expenses, provision for or benefit from income taxes, amounts related to the consolidation of the Structured Settlement securitization and permanent financing trusts we use to finance our business, our senior secured credit facility interest expense, debt issuance and related expenses, depreciation and amortization and certain other expenses.
Not all companies calculate segment-adjusted EBITDA in the same fashion, and therefore, these amounts, as presented, may not be comparable to other companies. Additionally, segment-adjusted EBITDA is not indicative of cash flow. Please refer to our earnings press release for a reconciliation of our segment-adjusted EBITDA to our loss before income taxes.
And now I'll turn the call over to our Chief Executive Officer, Stewart A. Stockdale.
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Stewart A. Stockdale, The J.G. Wentworth Company - CEO and Director [3]
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Thank you, Erik. Good morning, everyone, and thank you for joining our call. Today, I will provide you with an overview of our third quarter results and then comment on the recently announced Restructuring Support Agreement with our lenders.
For the third quarter 2017, Home Lending delivered $4.1 million of segment-adjusted EBITDA, and Structured Settlements reached $8.4 million of segment-adjusted EBITDA. We ended the quarter with cash and cash equivalents of $55 million, essentially flat from the second quarter cash balance of $54 million and down from $80 million year-over-year.
Home Lending saw another quarter of growth in both origination volumes and the MSR portfolio compared to last year. The Structured Settlements segment benefited from improving trends in transaction metrics, lower expenses and solid execution in our asset-backed securitization platform in the quarter.
Home Lending performance in the quarter reflects the growth and investment against key initiatives where we believe we can further extend our brand, leverage our direct marketing expertise and deliver a better customer experience.
Locked loan volume reached a quarterly record of $1.9 billion, up 17% versus last year. Closed loan volume also reached a new quarterly record of $1.1 billion, up 2% from last year. Coming out of the third quarter with a noted increase in locked loan volume, not surprisingly, October closed loan volume with an all-time monthly high and increased 25% above October a year ago. The MSR portfolio's unpaid principal balance grew to $4.9 billion, a 21% increase versus the same period a year ago.
We are pleased with the volume in Home Lending. We continue to add and optimize our new direct-to-consumer channel. And for the third quarter, it contributed more than 20% of total locked loan volume.
We believe it is important to grow our origination volumes and retain a certain level of mortgage servicing rights that contributes to the MSR portfolio and generates incremental earnings. We increased the unpaid principal balance of the MSR by $800 million on a year-over-year basis. The MSR portfolio had a fair value of $50 million at the end of the quarter compared to $32.6 million a year ago, a 53% increase. Once again, in the quarter, as a result of higher interest rates compared to last year, we saw margin pressure from increased competition and shifts in consumer demand for mortgages.
We continue to invest in capabilities to scale the Home Lending business. We added loan officers, processors, underwriters and closers to originate incremental volumes across affiliate, direct-to-consumer and retail channels. Together with our award-winning implementation of Ellie Mae's Encompass Platform and our own expanded digital mortgage capabilities, we believe we have been able to efficiently and effectively scale our operational capacity. We are also providing customers with expanded choice, including an array of self-service options to complete the mortgage application, securely provide documents and access to automated asset and employment verification services, to name a few.
In summary, we believe we have built out a chassis of capabilities to continue to scale the Home Lending business. Through the addition of loan officers and expanded office capacity to both technology and process improvements, we are building diversity in our origination activity and building assets in our MSR portfolio. We are providing the Home Lending enterprise with the flexibility to adjust customer acquisition tactics, balance volume growth, react to margin pressures and ultimately provide flexibility in the earnings we generate between originations in our servicing portfolio.
In our Structured Settlements business, we reported $8.4 million of segment-adjusted EBITDA compared to $4.6 million for the same period a year ago. Structured Settlements benefited from reduced operating expenses resulting from the previously announced cost-saving initiatives and growth in total receivable balances, TRB. TRB reached $208 million, an increase of 21% from $172 million last year. After several quarters of flat to declining volumes, we're pleased to see the growth in TRB purchases.
Several factors aligned in the quarter to help support the results. The strong execution in our asset-backed securitization provided for a favorable cost of funds. The improvement in our marketing and operations activities resulted in higher conversion rates across the transaction pipeline. And finally, we saw an uptick in production from the wholesale market after several quarters of limited contribution. We continue to manage Structured Settlements business for profitability and constantly engage in a variety of marketing tactics that can drive incremental production at a desired level of investment. Coupled with our financing platform and access to the capital markets, we continue to strive for profitable transaction growth.
So to summarize the results of the third quarter, Home Lending is experiencing strong growth in loan originations and the MSR portfolio and increased operational capacity through various technology and process improvements. During the same period, we continue to lead the market in Structured Settlement and annuity payment purchasing. We continue to enhance the execution of our marketing and operations, which is resulting in higher quality leads and improvements across the transaction pipeline.
Turning to our announcement we made last week regarding the next phase of our deleveraging process. On October -- I mean, on Thursday, November 9, the company announced that it entered into a Restructuring Support Agreement, the RSA, with its lenders and certain members of the J.G. Wentworth Company, LLC, the partnership. This follows many months of careful consideration and evaluation by our management and Board of Directors as advised by our financial advisers and legal counsel and negotiations with our secured lenders.
The parties to the RSA have agreed to the principal terms of a proposed financial restructuring transaction as follows: One, our existing term loan for $449.5 million would be canceled for a to-be-determined amount of cash consideration and at least 95.5% of the new common equity of the company. Two, on the effective date of the restructuring, a new $65 million to $70 million revolving credit facility will be established.
We believe this process, once completed, will position the company for long-term financial flexibility. The current debt burden of $449.5 million will be eliminated. The annual debt servicing obligation will drop from $32 million to less than $5 million for the noted revolving credit facility. The resulting net leverage ratios is expected to improve from more than 12x to around 1x earnings.
The prepackaged plan noted in our announcement is intended to only impact certain entities at the corporate level. The operating entities, such as J.G. Wentworth Home Lending, LLC, among others, are expected to remain out of Chapter 11 and continue their operations in the ordinary course throughout the process of the financial restructuring transaction. As such, we expect it to be business as usual for our customers, vendors and employees.
We do understand, however, that the equity holders of the J.G. Wentworth public company, which includes the holders of our Class A common stock, will receive no value in the restructuring, and their interests will be extinguished. Under the proposed restructuring, the secured term loan lenders who will have first liens on the operating assets on the operating partnership will recover far less than the face amount of their claims.
After extensive negotiations, the term lenders agreed to provide a distribution of 4.5% of the equity in the reorganized company to holders of interest in the partnership. The partnership interest holders include the company's existing equity sponsors as well as the public company, which holds approximately 55% of the partnership interest. Therefore, the public company is entitled to approximately 55% of the 4.5% equity interest to be received by the partnership.
However, the public company itself has various stakeholders, including certain entities that are parties to a tax receivable agreement, the TRA. Under the TRA, as a result of the Chapter 11 filing of the public company, these other entities are entitled to an equity interest in the newly restructured company that is received by the public company.
The public equity holders have an interest in the public company, which is junior to all unsecured claims against the public company, including the claims under the TRA. The TRA claimants will be considerably impaired, and there is no value remaining. As a result, the holders of the class A, B and C common stock of the public company will not receive any value in the restructuring, and those interests will be canceled without recovery.
We believe that the financial restructuring contemplated by the RSA with our lenders is the best way to recapitalize the company and position ourselves to better serve the evolving needs of our customers. We intend to move to the process as quickly and efficiently as possible.
We encourage you to refer to the full details of the Restructuring Support Agreement and related terms, which were included on the Form 8-K filed with the Securities and Exchange Commission on November 9, 2017.
Thank you all for attending today's call. I'll turn it over to you, operator.
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Operator [4]
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This concludes today's conference call. You may now disconnect.
Opportunity for more dilution fake news
The company is into BTC
Engaged in the development of web technology and have jointly developed both an E-store and a virtual exchange platform that facilitate trading of virtual items and casino credits as well as bitcoins.