Mute point but a nice effort. If you look you will see deferred compensation-CEO of $628309 which is more than enough to offset that deficit. In case its needed, that number represents the salary that our CEO has not collected on in the past several years. Got that, Berge is working and earning his salary but not collecting it from the company. I feel fairly confident in saying that there aren't very many penny stock CEO's that are doing that.
Now I am not saying it will happen but going forward Berge, as CEO and sole decision maker of Bergio, could elect a waiver on that deferred salary, release the corporation from that debt and reverse the expense making it into a 1 time adjustment and declare it as an other income entry on the books.
If you do that, and look at the financials they are pretty damn good for a penny stock. Now before you start your rampage understand Berge hasn't collected on that salary in years. Its on the books as it should be at this point but it isn't a cash flow item at this point because no cash is being taken out of the corporation by Berge as salary. Picking and choosing numbers for an argument is one thing, breaking down the financials and actually reading them is completely different. Lets wait for our "degreed accountants" to shed their blind view on this. Should be entertaining.
Just saying the opportunity is there for Berge to show even more improvement. The notes are his only hold up at this point. With some nice bid support those can be relieved and then this would be a beast of a stock.
Couple issues still to work thru, but this K is better than the last K and it has become a trend here at BRGO. Its slowly getting better with every passing financial year.
Like I keep telling you, Berge is on the Verge. When he breaks thru, the run will be noteworthy.
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