I got a call from Berge today! He was very gracious with his time and I got to go over a lot of things with him. Obviously there are certain things he can not discuss with me but I can tell you I feel a lot better about my position. Berge had nothing to gain by reaching out to me and I thank him for taking the time to do so. Dan I am sorry to hear you leave as we all share the same concerns good luck to you!
Without turning this into a really long post I will brush up on the important points: Berge took out the last bit of toxic debt to clear the balance sheet to increase the LOC and get us fully independent of toxic debt in the future. This was his plan and everything is finally falling into the right place. He does not like or want to take out anymore toxic debt. He fully understands how the conversions kill market cap and thus our SP. He also understands that there is manipulation going on which is another reason he is ending the toxic debt. He does not "Love" Asher, he dealt with a lot of crooks in that business and Asher was the most upfront out of that group that's all he meant by that statement. He will not RS. When we talked about getting close the A/S he informed me shares are already set aside for those conversion, obviously the actual number depends on the future conversion price. He will either need to convert more shares to cover the loan if the price is lower or give out less shares if the price is higher. Asher is issued actual certificates it's not done electronically so his conversion wont be until February not January. I explained to him a A/S increase will crush us further and he fully understands. He also understands that SP needs to be higher to avoid this. He will do what he can to help us out including more PR's which we talked about as well. He wont use the LOC money to pay down the toxic debt when he took out the toxic debt in the first place to obtain more LOC. He is still looking to increase and obtain more LOC. He is considering private placement if the numbers are right and only if they help not hurt shareholders. We talked about commodity prices, the new line, current market conditions and it's effects on revenue and profit. No one can predict the future but anyone that reads the Q and see whats going on knows things are looking really good and in the next couple of months this will look even better once all the conversions are out of the way. He is looking to at least meet and beat last years 4th quarter numbers even though that included the Ultra deal. Considering we were close with the 3rd quarter numbers I am betting we do. Berge is working on many deals all the time not just the wholesaler. Right now his priority is to increase sales so he is working very hard going to shows selling and promoting. After the busy session is when he will have more time to sit and negotiate proper terms for Bergio. He is not looking to just sign any deal, terms have to be favorable and negotiations take time so he wont spend precious time at peak session going back and forth with meetings and negotiations when he can be selling product and get to that stuff in January. Knowing this made me feel much better about why he postponed the deal until after the new year. Another interesting note is that it would have been easier for him to create a new shell company then get rid of the chill, he didn't even consider that option. He hired the best attorney and got it done. If that doesn't prove his honesty and integrity then I don't know what else to say.
People that trash talk and say he doesn't know how to run a company or doesn't know what he is going are actually the ones that don't know anything. Without getting into details I have an extensive business background and Berge has my respect and support. He knows exactly whats going on and does care. He is not oblivious to anything. I too was getting worried about S/P, conversions, increasing the A/S ect. and I have to tell you my mind is at ease now. I really do hope we can gain traction on the price and just move up now through whatever PR's he has planned and continue to do so to flush out the last bit of conversions without affecting our A/S because this company is going far and it will be much more enjoyable without any more dips. Since I personally confirmed Berge is aware of the problem and that he will be working on it and I saw his dedication to shareholders...I will be gladly sitting on my shares and adding to them. Oh and FYI he wants this to be in the pennies! GLUCK everyone.
