Yeah, just got done skimming the 10Q. Any self-respecting owner would have just claimed BK rather than continue to take convertible debt (some of which is due in weekly payments), and screwing over a bunch of retail investors (yet again).
Sales down 40% easy, costs way too high¹, $5.6m of their $8.9m total assets are "goodwill" (that's 63% 🙄), no real changes to try and right the ship ... don't even know why Berge still goes through the motions, other than a paycheck on the backs of retail. I don't think it's too much to call what Berge does stealing.
¹ Operating expenses have been markedly high since accumulating Gear Bubble & Aphrodite's in 2022 (again, with shareholder money through dilution). I wonder what the fix is here. Washing out some money to avoid taxes? B/c no matter how much they make in retail sales, Berge can never seem to make a profit. Check out Q4 from 2021 ... BRGO did $20m in a year and still copped a loss! Covid raised revenue from the previous year by 18× ($11m v. $585k) & losses by 17× ($2.64m v. $148k) by about. At that burn rate, what kind of revenue is required for breakeven? $150m? $200m?
News 
Market Data 
Discover 
AI
