InvestorsHub Logo
Followers 18
Posts 1220
Boards Moderated 0
Alias Born 03/01/2013

Re: None

Thursday, 08/07/2014 5:10:52 PM

Thursday, August 07, 2014 5:10:52 PM

Post# of 122988
I don't think anyone really knows what caused this sell off.I do think we will find out soon what's going on and have outlined below some of my thoughts.

1) If a R/S is going to happen the theory is it was "leaked" so everyone that got wind of the news sold which was most likely at a loss which caused a selling frenzy as others took the sells to mean negative news is on the way and also sold which added fuel to the fire. However, having spoken to Berge many times and exchanging dozens of emails I know he would NOT EVER be so reckless to have such info "accidentally" released to ANYONE. Secondly if by some odd chance somehow this was the case there is no way he would continue with the R/S given what has happened. So in my honest opinion there wont be a R/S.

2)The second theory is flippers are manipulating the stock and driving it down just to raise it up again. I don't see how this is plausible as they would have sold at a great loss to do this. Not many shares were ever picked up at .0001 to warrant the volume we saw this week. Secondly between the dumps and the amount of shares removed off of the bid it's over 1 billion shares we are talking about this would have to be one heck of an orchestrated effort. If this theory holds any water then we will have a great run coming.

3) The third theory is the existing note that Berge is waiting to refinance was converted and dumped. Based on Fife's discount rate (assuming the last note is with Fife) which is off of closing price I don't believe this would have been at all profitable for him to do. I went back and looked at the last closing prices and figured out the discounts, it's a plausible theory just not very realistic.

4)My fourth theory which I don't believe was mentioned is perhaps Berge did another direct conversion or more toxic debt. I don't find this theory plausible one bit because in either scenario shares could not be sold for 6 months. Additionally for what it's worth Berge claims to be committed to ending toxic debt and all this dilution to "help restore shareholder value"...which to me sounds like a complete joke at this time due to everything we have gone through.

So in conclusion nothing really makes sense to me. It could be a combination of theory 2 and 3 I really don't know I just obviously know something is up. I think we will find out soon. I purchased shares at .0002 recently to "average down". I did not participate in buying more shares at .0001 given all the unknowns. If it does R/S the .0001's will also be shares purchased at huge losses anyway. If he finally addresses the R/S issue and the conversions then those that bought at .0001 and hold will profit very nicely and I have no problems chasing the price at .0003 or even .0004 AFTER we get the confirmation we need. Although it seems so far away if Berge addresses our concerns I do feel this can run very high despite all the set backs we had. I don't get caught up to much on the bid and ask because at these levels anyone can easily hold 100+ million shares and they can put and remove shares on the bid or ask at will. Good Luck LONGS!
Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent BRGO News