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Actually according to you they haven’t begun yet.
Well that didn't age well:
Outstanding Shares 1,724,034,579 as of 02/01/2022, up only 398M from 3 weeks ago.
Outstanding Shares 1,724,034,579 as of 02/01/2022, up only 398M from 3 weeks ago. Wait didn't someone here say there was to be no dilution before 2/10?
How do you consider someone “emerging growth” who has been in business since 1994?
You’re expecting far too much from our CEO here, imho.
Yeah that was over a billion shares ago
Except previous reverse splits predict future reverse splits, especially with an exponentially increasing O/S.
Wow really shooting up on this great news.
I must have missed the break and thin move
Except the bad thing about owning Gearbubble is that we have to pay for it, which, for a tiny company with stagnant revenues, means massive dilution on top of the massive dilution coming from the convertibles we took out through the end of the third quarter(and probably beyond but we won’t know that until April), on top of the massive dilution that will come when we have to pay the SBE loans taken to pay for the defaulted convertibles from 8 years ago. So there’s that.
It was a rhetorical question, I know who’s selling.
Then who’s selling?
O/S: 1,326,680,290 as of 1/10, up a modest 213M(20%) from less than a month ago. But no conversions right?
O/S: 1,326,680,290 as of 1/10, up a modest 213M(20%) from less than a month ago.
Wow it really shot up today. We’ll be at .24 in no time.
That's a dangerous assumption to make. One great fact of this ticker is that there are ALWAYS conversions, and the O/S is ALWAYS increasing. And I'm not a disgruntled ex-shareholder. I'm actually extremely gruntled. I've made money over the years here once I learned to trade it and not invest in it.
Continuing to repeat yourself doesn't make you any more correct than the first time. Here's what happened since 2/21:
On March 3, 2021, the Company entered into an 8% convertible note in the amount of $63,500 with Power Up Lending Group
On May 11, 2021, the Company entered into an 8% convertible note in the amount of $53,750 less legal and financing costs of $3,750 for net proceeds of $50,000 with Power Up Lending Group.
On June 22, 2021, the Company entered into an 8% convertible note in the amount of $55,750 less legal and financing costs of $3,750 for net proceeds of $52,000 with Power Up Lending Group.
On July 20, 2021, the Company entered into an 8% convertible note in the amount of $55,000 less legal and financing costs of $3,750 for net proceeds of $51,250 with Power Up Lending Group
On July 28, 2021, the Company entered into an 8% convertible note in the amount of $48,750 less legal and financing costs of $3,750 for net proceeds of $45,000 with Power Up Lending Group.
On September 14, 2021, the Company entered into an 8% convertible note in the amount of $78,750 less legal and financing costs of $3,750 for net proceeds of $75,000 with Power Up Lending Group
On February 11, 2021, the Company entered into 10% convertible notes totaling $1,512,500 less legal and financing costs of $137,500 for net proceeds of $1,375,000
If BRGO grew organically from $600K in revenue(which ask yourself since the company has been in business since 1994 why this number is so paltry?) to $20M, I'd agree with your "logic". But it didn't. And the 2 acquisitions have to be paid for, and are being paid for in stock, on top of all the existing convertible notes, and also on top of the SBA loan the company took to pay for its defaulted convertibles that were never paid back years ago. Your $270M projected market cap is a fantasy and there is another R/S coming in the not very distant future.
The flaws in your overly simplistic math here are: 1. The assumption that the O/S stays at 1.13b. The O/S has increased exponentially since it was 595,000 in late 2019. With the convertible financing on both acquisitions plus convertibles to keep the lights on continuing, that curve will be even steeper. I doubt by the time the 10k comes out in April that the O/S is less than 2b. 2. The company continues to bleed cash from huge quarterly losses due to “expenses”. The sales increases are only a matter of scale which means the losses will only be that much higher and the necessary loans that much bigger to keep the lights on. The only way this gets to .24 is via another 1/10000 reverse split, which will happen and far sooner than you can imagine.
You’re really expecting a $250m market cap here? Absolutely delusional.
Right except that was a billion shares and several hundred thousand dollars of new convertibles ago. And no profit.
Yeah except there’s a difference between “there’s no dilution” and “the O/S hasn’t been updated for 3 weeks.” Probably at least 100m shares worth of difference. Do yourself a favor, look at the last 10q, total up all the convertible notes outstanding, factor in the notion that he’s still taking them out like crazy, then have some fun figuring out how many shares all of these convertibles will become...and don’t forget the SBA loans he took out to pay for the defaulted convertibles from a few years ago. He’ll have to pay those back at some point and you can bet the shareholders will be on the hook somehow for those as well. Make sure you use a calculator that will add/multiply into the tens of billions.
Have fun
You’ll get .10 after the next reverse split, which is coming much sooner than you can imagine. But then you’ll only have 2500 shares to sell.
Are we still running?
Probably quintuple your O/S figure to account for the constant dilution of $1.5m+ in convertible loans coming.
He lied to you there as well. I did not make a killing here. I’ve made money at times but lost as well. After the reverse split in 2014(he told his biggest shareholder the day before it was announced, that he wasn’t reverse splitting), I learned to trade this and not believe in it(or him) as an “investment”. Good luck.
I’m sure you did. He’s assured me many times that no new notes are coming. He lied...and he hasn’t changed.
What then is your theory on 90m shares traded without news and no price increase?
If the convertible of which you speak was the only one, I’d agree with you. But there are many others and they typically convert at about 5/8 of the lowest price over a period, or maybe the average of the three lowest days, something like that. Then there does not have to be a floor in the price for those to sell. It’s death spiral financing and CEO Berge Abajian is a master.
The evidence is watching this for 9 years, reading the filings and knowing that the CEO lives for convertible financing.
The CEO is responsible for the dumping as he took the easy convertible financing that the shareholders get to pay back. There are many convertible loans that will convert at ~60% of whatever the share price is when they decide to convert. There is no bottom here.
Great Christmas gift by CEO, a 50 million share dump.
40th day in a row,”Is this the bottom?”
Where are all the Hail Mary buyers?
Yes, we all thought that.
It may have sold over $1m but it didn’t make over $1m. In fact I think company reported a loss. The fact the O/S is increasing several percent per month is troubling.
Latest O/S: 1,113,814,009 an increase of "only" 57M from 3 1/2 weeks ago.
Temper your “only” with the fact that the O/S was “only” a couple hundred million a couple of months ago. It’s been going up regularly and hugely, to coin a term. Last update was nearly a month ago, which is, or should be, frightening.
Is this the bottom? I’ll bet not.
If you’re here at all, you’re speculating.
Imagine your worst case scenario and then triple it. There are many more billions of shares to go.