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It's going to take some time for the news of what really happened to filter it's way through the entire market. It will take a couple days, maybe the end of the week and I think we will be back to .01+ territory.
If you are in a position to buy, I would add shares right now. This won't last long. Somebody described this as a 'gift' and they are right. Just sheer luck for those of us in for the L/T.
SPT
I just spoke to Mr. Abajian
Okay guys, I just got of the phone with Mr. Abajian, CEO. He has been on the phone 3 hrs this morning which is why some of you haven't been able to get through.
I spoke with him about 10 minutes and here is the synopsis:
One of the OTC listing requirements is that each company have at least (3) broker/dealers. One of those broker/dealers went out of business in the last several days and stopped reporting. This caused an automatic 'deletion' for BRGO and about 1,500 other companies.
This is TEMPORARY. BRGO will be back on the OTC in about 4 weeks or less, in the meantime they will be on the Pink Sheets.
Unfortunately it will cost BRGO, as well as all the other companies, 10-15k to meet the reporting reqmt's caused by this.
Mr. Abajian is very upset because this was not the company's fault and it happens right when so many other things are going right. He remains adamant and upbeat about BRGO and shared with me that good things are in the works & on the horizon (things not yet announced).
Before posting this msg, I just bought another 144k shares. IMO this is going back to where it was and beyond. All the big dynamics are still going in the right direction.
Mr. Abajian is a fighter & passionate, one of the many reasons I beleive in him. If you ever talk to him you will know that right away.
Stephen
According to my TDA acct BRGO is classified "OTCBB-OTCQB"
But maybe it takes 24 hrs to update their systems.
I'm torn between selling or buying more...until I have further info, I think I'll do neither.
I've got to go, got to get back to my J-O-B, gonna log out for while and hopefully soon we will all be enjoying better news.
Take care guys!
SPT
On the up side...
All the stupid, moronic PIMPING PUMPTARDS are gone...I guess all that are left now are real investors with a real interest in this company.
SPT
It appears it has just been halted...
Volume stopped at 10,434,075 shares
Wait it just started again??? up to 10,698,075???
I'm really confused adn more than a little bit worried...
My TD Ameritrade account has had BRGO steady trading all morning. Bid, Ask, Last & Volume. Volume is at 10.4 Million shares and counting as of 10:36AM
SPT
OTCBB vs. Pink Sheets
While I am not convinced this latest news ONLY means the company is moving to Pink Sheets, I thought I'd post this for those of us who appreciate mroe information. Got this from www.StreetDirectory.com
Savvy investors want choice. The ability to choose between several kinds of investments can turn your portfolio into a well-oiled machine. Want lots of growth with a little income? Prefer safety over growth? Willing to risk that safety? No matter what you're looking for, there's an investment to match your style. That choice means you can assemble a portfolio to exactly match your preferences.
The investing market is made up of two kinds of markets: Auction markets and dealer markets. Most basic-to-intermediate investors are aware of auction markets, where stocks are traded on an exchange in an auction-style transaction which are the stock markets we're most familiar with.
Dealer markets, also known as "unlisted" or "over-the-counter" ("OTC") markets, are not traded on an exchange. Bidding and asking prices are posted but the order is not sent to an exchange floor. Instead, the transaction is carried out between dealers. According to the Securities Industry Association, the NASDAQ is actually an OTC market but several additional rules make it function like an auction market.
Over The Counter investments are investments that either cannot meet the listing requirements of a stock exchange (such as capitalization requirements) or choose not to be listed on a stock exchange. These investments also have reporting requirements that are less strict than listed stocks. As a result, OTC investing is usually classified as a higher risk investment.
The OTC market has been around for a long time and was highly fragmented. Over the past century, efforts to unify this market (so that buyers and sellers could find each other and know what price they could buy investments at) resulted in two quoting systems. Today, the two key players in this dealer market are the Over The Counter Bulletin Board (OTCBB) and Pink Sheets.
The OTCBB (www.otcbb.com) is operated by the NASDAQ (which also writes the rules for OTC trading). Investments that don't appear on the NASDAQ can appear on the OTCBB.
Pink Sheets is a privately owned company based in New York offering competing services to the OTCBB. Although it has been around for decades, it has only been operating as Pink Sheets LLC since June of 2000. Its website, www.pinksheets.com, offers quotation services for unlisted stocks, as well as stocks that cannot be listed on OTCBB because the investment does not meet the SEC reporting requirements.
What does this mean for the average OTC investor? OTCBB, while quoting unlisted investments, has slightly stricter rules, including financial reporting rules. Pink Sheets continues to quote investments that may be listed on the OTCBB but also investments that do not qualify to be posted there. For investors who love the excitement of higher risk investments but want slightly more safety that comes from stricter reporting requirements, the OTCBB is the quotation service to use. For investors who love the excitement of higher risk investments and want greater access should look at investments found on Pink Sheets.
RULE 15c2-11
Found this on www.gopublicUSA.com
What is Rule 15c2-11?
SEC Rule 15c2-11 was designed to allow non-reporting public company's securities to be quoted on The Financial Industry Regulatory Authority ("FINRA") Over-the-Counter Bulletin Board ("OTCBB") by filing some simple disclosures.
Now, companies seeking to obtain a quote on the FINRA OTCBB must be required to file reports with the Securities and Exchange Commission ("SEC"). Under Section 15 of the Securities Exchange Act of 1934 (the "Act"), as amended, a company who has filed a registered offering with the SEC, such as an S-1 registration statement is required to file reports for one year. A company which files a Form 10 or Form 10-12G becomes a reporting company under Section 12g of the Act and must file reports. To be eligible for a quotation of its securities, the company's market maker must file a Form 211 with the FINRA, the company must have sufficient free trading stock in its public float to allow Rule 15c2-11.
The stated and un-stated listing requirements for the FINRA OTC-BB are as follows:
fully reporting with the U.S. Securities and Exchange Commission,
minimum of 40 stockholders of record holding at least 100 shares each (note: this number is informal and has been moving up),
must have a market maker submit 15c2-11 (Form 211) application to FINRA and agree to act as market maker for securities of company.
If you need assistance in having a Form 211 filed with the FINRA so that your company can trade on the OTCBB, we can help prepare that paperwork and introduce you to a market maker. Contact us for more information.
Okay,
I am at a loss here. Can you please explain further?
Stock has been highly active...'inactivity' must have some specific legal definition I'm not aware of.
Please offer mroe information.
Thanks,
SPT
I'm not sure what to make of the particular part of BRGO's 10-Q but I do know BRGO has employees, other than Mr. Abajian and his wife.
Remember, BRGO does not 'buy & sell' products. They create designer jewelry lines in-house. That takes a lot of talent & expertise in-house, which requires outlay of money to hire and develop that talent.
SPT
you're quoting yourself?
Just getting here - Does anybody know if BRGO was on any of the penny tout sheets this morning? If not they are sure to be Monday.
I'm not 'trashing', I'm just stating what I beleive to be a very realistic fact. That .145 / sh in the next 6 months is very unrealistic. Several people have repeatedly made the statement that bc it hit .145 10 months ago and the company outlook is so much better now (which it is) that it is a sure thing to hit .145 again. People are making that statement w/o realizing the entire shareholder equity landscape has changed due to 4x as many shares being issued now as opposed to 10 months ago.
On your other comment about going to $5 in 5 years - perhaps technically you are right - that could be called a 'pump'. But ONLY to people who think in terms of YEARS. It is obvious the investing attention span of almost everyone on this msg board is about 5 minutes.
I am now remembering why I stopped posting on here. It is just too time consuming and energy draing to 'debate' people who have no L/T investing goals and therefore have no desire to see a L/T picture.
SPT
Disagree,
Most (and by most I mean 90%+)of the people on here are pumpers & dumpers...until they become trashers & bashers. But this stock has some very strong fundamentals. I'm in it for the long haul.
Here is some realistic info, FYI, this stock isn't going to go anywhere NEAR .145 anytime in the next 6 months. I'd be estatically thrilled if it hits .03 within 30 days and .05 in 6 months.
Yes it went to .145 last September. But that was when there were less than 25 million shares O/S. Today there are 90 million shares O/S. almost 4x as many. So for the stock to go to .145 NOW, under these circumstances, would be equivalent to having it go to .58 last September. It's not going to do that.
However, I think if Mr Abajian does what I think he can do, I think this stock can be at $5.00 in 5 years. Then I can retire...well semi-retire :)
SPT
Hey Red Birds,
I didn't mean anything particularly ominous by that. It's more of a general business concern. I mean the company still has to make an actual profit. The product will have to marketed well in the retail stores, we still don't know how the jewelry buying market that will be exposed to those products will react. Will they crack open there checkbooks for high-end jewelry to the extent it will fuel BRGO profitably?
My expectation is yes to those things. But at some point it has to go from an 'expectation' to reality.
I think the future looks bright but you still have to avoid the potholes. That may not mean anything to someone who is jumping in and jumping out of market, but I have bought and I'm sitting on my investment for the long-haul.
SPT
It's been awhile since I've been on ihub. 1st let me say I am neither a 'pumper' nor a 'trasher'. I am a real stockholder, an ordinary guy who keeps a close eye on all my investments and I study. I first got turned on to BRGO about 3 yrs ago by Charles Payne of WStreet. Over the past yr I have done nothing but add shares. I own 720,000 shares and I am in at a weighted avg price of $0.0081 / share.
I have actually talked (on the phone) to the CEO & majority shareholder Berge Abajian. I was impressed by him, his resume & experience. His actual product is very impressive too. And he has dedicated his life to this business and has everything to lose if BRGO does not make it. And I am impressed by the 'aura', if you will, he has created around his 'line'. If you've noticed everything he does is refined, sophisticated and 1st class. A necessary ingredient when trying to sell $250,000 pieces of jewelry. Having said all that, that is certainly no guarantee that BRGO will make it. I have had my doubts over the last 3 yrs, especially the last year.
Of particular concern to me is the issuing of new stock to convert into cash or credit lines. This happened a few weeks ago and millions of shares of new stock were issued (Someone asked awhile back 'why there was so much volume and the price did not move?' - it's because of that deal). While these credit lines give the company a necessary 'lifeline', they also devalue the worth of the shares currently owned by existing stockholders.
The first question I have to ask myself is 'what is Berge Abajian's real goal here?' 1) To make this company succeed OR 2) To grab what he can in the form of stock-financed loans, bankrupt the company and bust out the shareholders? While I can never truly know what is in another man's heart, everything that I can know about this man, tells me he will do everything within his power to make this company succeed.
He has taken the company global at a time when he was very cash-strapped and could have easily played it small & 'safe'. He has held the company together and brokered the necessary financial deals to keep the company afloat, at the same time expanding the line in terms of geography & products. Not an easy thing to do. This tells me this man is very talented and dedicated to his vision. And I beleive he has just that, a vision. A vision to make Bergio the world's 21st century version of Tiffany's. He may just succeed.
Today's announcement of the retail chain's deal is very big and the solid news I've been looking for. Yes, the quarterly financials have been getting better each and every quarter for sometime, edging closer & closer to profitability. But those were marginal improvements (Not that I'm knocking them, I'll take what I can get). But today's announcement of an 'inked' deal (I hope it is 'inked' and not just announced) is the first solid news that has the potential to be a fundamental boon to the company, a 'game changer' to use an over-used cliche. We are not out of the woods yet but I am, so far, very impressed with Mr. Abajian and he seems to be making all the right moves to make us shareholders a very nice profit going into the future for a long, long time.
Mr. Stephen Troup
Atlanta, GA
I wish there were more comments here. I just doubled my holdings this morning @ $8.39 for an avg holding price of $9.00.
I am not a lawyer but it seems hard to imagine the findings of a jury in 2006 and the award, then the upholding of the verdict by a Federal Circuit court earlier this year in addition to at least two occasions in the last year where the US Patent office has upheld TIVO's patent is going to be overturned. Without getting into specific details & arguments of the case it seems improbable the court would overturn all that.
I wish they would issue a ruling soon.
Undaunted
For such an exciting, volatile stock, there is almost no posting here...disappointed, but undaunted.
Can someone tell me what happens if I buy shares today at today's market price of roughly 1 cent/share? The stock split is suppose to be for stockholders of record as of Sept 1??? What happens to stockholders of record AFTER Sept 1?
Undaunted
does anyone know when the patent case will go before the federal courts? someone said 'later this year' but can anyone be more specific? Also, how long after that do you think a final ruling would be made? Thanks.
Undaunted
If it was 'just market' it really was nothing to get excited about.
Yes it is a good day, I'm in PEIX at .676 - But can someone here tell me why the stock is moving almost 20% today? I can't find any particular news but something must be driving it???
Thanks!
Hey guys,
I'm new here. I have been tracking PBEC for awhile and am looking to jump in at the right time. I've read a lot of posts suggesting this stock has a long way to fall.