Bergio International Inc (BRGO)

[DD-214]

Check this out, from todays 10Q.. Fife will be converting in trip zeros..

BERGIO INTERNATIONAL, INC.

Note 11 - Subsequent Events (continued)

Accordingly, it is the Board’s opinion that the Reverse Split would better position the Company to attract potential business candidates and provide the stockholders a greater potential return.
Financing - Illiad

On October 17, 2014, the Company entered into a financing arrangement with Illiad to provide additional financing in the amount of up to $450,000 through the issuance of a Secured Convertible Promissory Note (“Note”). The Company agreed to cover the Lender’s legal, accounting and other related fees in the amount of $5,000, which is included in the principal balance of the Note. The Note will accrue interest at the rate of 8% per annum until the Note is paid in full. Monies are to be drawn in 8 tranches with the initial Tranche in the amount of $105,000, and the remaining balance of $350,000 in 7 tranches of $50,000 each. The Note has a maturity date of July 17, 2016.

Beginning six months after October 17, 2014 and on the same day each month thereafter, the Company shall make an installment payment, based upon the unpaid balance. Payments may be made in cash or by converting the installment amount into shares of the Company’s Common Stock. The conversion price is the lesser of $0.0005 per share and 67.5% of the average of the three lowest closing bid prices in the 15 trading days immediately preceding the conversion.

The Company has the right to prepay the Note at 135% of the outstanding balance at the time of prepayment.