Replies to post #40120 on Bergamo Acquisition Corp. (BGMO)

[old man river]

The OTC Markets is not a regulatory body.

Updating the financials and reporting them to the OTC will not stop the ongoing SEC investigation.

There are critical issues to be resolved before the SEC would be inclined to let BGMO continue. Some have reported the problems being:

- the failure to hold annual meetings
- the failure over time to report financial results according to GAAP
- the issuance of press releases announcing fundings that never close without any clarification by the Company why it did not happen
- the issuance of press releases announcing investment activities that never close without any clarification by the Company why it did not happen
- the massive share dilution without any notice to of approval of the shareholders
- the payment of massive commissions to HH and SP without shareholder approval.

There are also some commercial issues which would raise ethical questions outside of the normal SEC investigation. These would include:

- negotiating to purchase a controlling interest in a company without having the cash in the bank to complete the transaction
- even after negotiating in good faith, BGMO fails to honour even amended timings and amounts provided in share purchase agreements
- stating that BGMO will do one thing yet renegs on it days afterwards.

The core question to ask boils down to this...

Given the history of BGMO and its insiders, even if the HBSC money is real and audited statements are delivered, how can the SEC protect the investing public from past events repeating themselves?

My opinion is that they would likely err on the side of caution to protect investors. This would also send signals out to would be pump and dump artists that the Commission is watching.

[HighYieldInvestments]

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