There are a few sad realities with BGMO.
The accounting firm of L L Bradford concluded that there was no evidence to substantiate any or all of the claims of funding, investment, profits and retained earnings made by Bergamo to OTC Markets, through Business Wire and to the shareholders prior to January 2012.
If there is no evidence to support the claims and representations made by our firm's President, it begs the question as to the nature of the press releases. Where they mere prospective wishful thinking, intentional misrepresentations or something that could be labelled as criminal or civil fraud.
Perhaps the most damning statement by our Company was the attestation that what the accountant prepared was free from any errors or omissions. In essence, our President confirmed that their was an absence of proof to any prior claim of funding or investment, profits or retained earnings. This is a rather stark admission that our own leader misspoke!
The story of the high yield investment program is a replay of an early program that BGMO reported either in late 2009 or early 2010. In both cases, documents were signed and paraded about. In both cases, shortly after the announcement of funding, they announced the acquisition of a controlling interest in a potentially lucrative venture. Both target companies had proven management. In both cases, BGMO could not deliver the funds as agreed. In both cases, the share purchase agreements were amended to defer the contribution dates. In both cases, the payments under the agreed and deferred dates we missed.
What we are seeing is a repeating pattern of funding documents, investment announcements and missed payment dates made by a Company whose accountant and President stated that everything prior to January 2012 was in fact a lie.
We are now asked to believe the Company has reformed itself, that it will no longer misrepresent itself and yet continues to follow the same patterns and business practices of four years earlier.
