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Alias Born | 09/29/2017 |
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Friday, December 01, 2023 12:05:13 PM
Sales down 40% easy, costs way too high¹, $5.6m of their $8.9m total assets are "goodwill" (that's 63% 🙄), no real changes to try and right the ship ... don't even know why Berge still goes through the motions, other than a paycheck on the backs of retail. I don't think it's too much to call what Berge does stealing.
¹ Operating expenses have been markedly high since accumulating Gear Bubble & Aphrodite's in 2022 (again, with shareholder money through dilution). I wonder what the fix is here. Washing out some money to avoid taxes? B/c no matter how much they make in retail sales, Berge can never seem to make a profit. Check out Q4 from 2021 ... BRGO did $20m in a year and still copped a loss! Covid raised revenue from the previous year by 18× ($11m v. $585k) & losses by 17× ($2.64m v. $148k) by about. At that burn rate, what kind of revenue is required for breakeven? $150m? $200m?
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