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So we’re posting the 10Q one sentence at a time? That may get us onto the Breakout Board but if you look at today’s volume it’s not going to get people to buy the stock. Here’s something you should post: the stock price is DOWN 99.4% from its pre-1/10,000 reverse split low price. CEI promised to reduce the 6B A/S to 500m, which he did not do and now cannot do since he is trying to sell 500m shares directly to the public. He’s already lowered the ask price from .01 to .007 because he has no confidence in the stock price.
Don’t forget to include the 500m shares the CEO put out for public sale a couple of weeks ago. He’s already lowered the price from .01 to .007 and I’m sure there have been no takers. Plus the several hundred thousand dollars of new convertible notes taken since first of the year.
And here comes the pump.
Looks like the 500m share offering price has been adjusted from .01 to .007.
Wow, sub penny again. Pretty hard to do from $1/share such a short time ago.
There’s still a major sell off. Stock was $1 when the r/s happened. Down 99% from its presplit low. Next to no sales and several hundred thousand dollars in new convertible notes.
Funny thing is Berge promised to raise the A/S from 6b to 10b a couple of years ago so he would not have to r/s. That never happened. Then when he did r/s he promised to lower the A/S from 6b to 500m. That never happened either.
Is it a coincidence that Berge awarded himself 17m shares right before Christmas and we had huge volume just over 6 months after?
He actually paid himself 17m shares to cover his back pay.
It’s probably Berge dumping his
Ha ha paid with what?
Bergio International Implementing A New Direction
9:00 AM ET 5/27/20 | Dow Jones
Launches New Channel Direct to Consumers
FAIRFIELD, NJ / ACCESSWIRE / May 27, 2020 / Bergio International, Inc. ("Bergio", or the "Company") (OTC PINK:BRGO), a leading designer, manufacturer and retail outlet for the Bergio Brand of designer jewelry, including exquisite collections of rings, necklaces, earrings, and other fine accessories, today reported that it is implementing a new direction to improve revenues. Bergio will be launching its own live channel direct to consumer to be broadcasted live 3 times a week from its store location in the Ocean Casino Resort in Atlantic City NJ. The launch date will be predicated on opening of the casino. We anticipate being up and live within 30 days unless there are additional delays from the State.
Berge Abajian, CEO of Bergio stated "the introduction of our online live broadcast is a great addition to our existing business. We have succeeded in transforming our business the past 5 years from strictly wholesale to selling direct to consumer. This platform provides us the opportunity to penetrate the worldwide market. My vision and direction, which was painful to execute, has moved us in the right direction. Our gross margins have increased tremendously and are operating expenses are under control, providing for a highly leveraged company. We believe that revenues will increase as a result of this new strategy and provide improved profitability in the future. While jewelry market has experienced a modest downturn which has caused a decline in our revenues, this new platform should allow and provide more worldwide market penetration. Bergio is ready for the future as we have worked hard on our product mix and added accessories & Silver Fashion Jewelry in 2019 with a great price point that gives our consumer base a large selection to pick from."
I appreciate all the support from our shareholders and wishing all to stay safe through this tough times, knowing that a bright future is ahead."
I read the PR, sure the margins improved but the revenue was down from previous years and he’s not selling enough for those margins to overcome all of the debt. I counted $380k in new convertible debt, and that is on top of still well over $400k from 5-7 years ago. And since he never lowered the 6b A/S you know where this is going.
Interesting points from the 10K: Despite a new retail location, revenue fell Yoy, $380K in new convertible notes, Berge converted what the company owed him into 17m common shares, not restricted as he announced, there is no mention of a reduction in the A/S from 6b to the 500m promised. Also a couple of years ago several of us begged Berge to raise the A/S from 6b to 10b so he would not have to r/s. He said that he would and did do that. Nothing in any subsequent financial report stated that that ever happened.
There was an 8k filed on 3/31 to get a 45 day extension on the 10K. So we won’t see it until mid May.
Dude the F-troop get up is getting a little old.
According to CEOs audio interview that’s a good thing.
The A/S is only 10b, not 100b, so the reduction is only 1/100, not 1/1000. So it’s worse.
CEO told me on Friday when this tanked 88% that it was not indicative of how the trading would be and it wasn’t as bad as it looked. 3 days and a whole lot of shares dumped and it’s still here.
Nothing confusing about 700m pre split shares selling at an 88% loss on the first day after the split.
It’s because the day before there was a trade at .000001
Nope. Just sharing something that happened years ago. Has no bearing on the current disaster.
Interestingly that in 2009 when BRGO did the 1:12 r/s, the day it happened the stock took off. People didn’t realize it reverse split and thought it was running. I was able to sell that day for a profit. First and only time I was ever able to trade a reverse split stock without waiting 2 or 3 weeks.
I hear you on that. I’ve been screaming at the CEO for six months to stop holding the shareholders hostage. I also begged him to cancel the r/s since he was unable to do it anyway because he wasn’t current in his filings.
Theoretically yes. Your value should be the same. But your second sentence ensures that it won’t be. Which is why r/s’s are not pretty, the bigger the ratio the less pretty.
Last I heard from the CEO it was supposed to happen at the end of September. I’m thinking more like end of October. Not sure why you’re so eager to have it happen. 1/10,000 split is not pretty.
According to CEO, end of September. He has to become current first and then reapply. End of October might be more realistic.
F everyone’s I, per CEO we should have our reverse split by the end of September.
What’s up with the LOF spinoff we qualified for two years ago????
A few months ago it popped to .026 on low volume for no real reason. I can only imagine where it goes once this deal finally comes down.
Grabbed a few .009s and .01s today, getting ready for boomtime!
NEIK
Fabulously informative and insightful.
The opportunity is for him to do something for his shareholders and it would not cost him anything.
I think Berge has a real opportunity here to do something good for shareholders by announcing that the R/S is cancelled in conjunction with a new location, since the R/S can’t happen now anyway.
Again I say what do you care what I think?
See El Presidente’s earlier post. The filing has expired and it won’t be possible until he is current with his financial filings. BRGO is now delinquent in filing both the 10K and the 10Q and owes something like $30K to the accountant. So the r/s isn’t happening any time soon.
Defeated? Nah. We may actually get a pop now that the r/s isn’t happening.
Yeah that was a subject of like 6 years ago.