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Tuesday, November 13, 2012 3:28:34 PM
I saw the profit increase, that was headlined in the PR. Digging further I also saw that they have released a boat load of shares into the market and are diluting again as we speak.
I also saw the net loss and the notes that they have signed in the last quarter allowing people to convert at a 60% market discount. That is very huge. If BRGO though their stock was worth .003 they wouldn't hand out deals like that.
Now those notes can't be converted for 6 months. But some of those are a couple month's old. Which means BRGO has one more quarter to right this ship or the market could be flooded with shares at well under .002.
Furthermore, when all those notes are converted in (all will be in less than 6 months) they will need to raise the A/S to cover them. BRGO has handed out about a dozen of those in Q3 and we don't know how many they have handed out just in the last 6 weeks.
Civil discussion based on facts is always welcome.
MarketCaptain
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