Bergamo Acquisition Corp. (BGMO)

[old man river]

Visually, being out of the country while the SEC announces a suspension of trading and conducts an investigation sends the wring signal to the regulators.

Assuming that the SEC is open to the idea of BGMO becoming listed again, they would likely want to see audited statements rather than compiled versions.

They would likely want a bigger name firm to do an audit rather than L L Bradford. An audit cannot be done overnight. It will take a couple months likely given the absence of documentary evidence of a credible nature. They would also need to verify the actual deposits and banking records with the institutions involved. This will also take cash which is something that BGMO does not have otherwise the VSTA deal would have closed.

I would also think that being out of the country trying to obtain evidence would not bode well as the SEC prefers documents from credible banks and organizations. Other than the HSBC, they would likely look dimly on any intermediary company based in a tax haven. The SEC prefers dealing with principals and not agents.

Even if the all of the above could be done to the SEC's standards, there is still the issue of being out of the country for such a period of time. In the age of the internet and VOIP, it would stand to reason that a lot could be done quickly. My sense is that a new round of funding documents is being created to appease the SEC.