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Bergio International, Inc. (OTCMKTS:BRGO) filed form 10-Q, wherein it stated that net sales for the quarter ended September 30, 2016 dropped 32.5% to $88,986, as against net sales of $131,880 for the quarter ended September 30, 2015. This drop can be linked to a plunge in retail and wholesale sales. The company intends to concentrate on its domestic segment and explore additional prospects to support its operations. This step comes despite the fact that there has been a decline in the market for the firm’s offerings.

The buzz

Bergio posted that net sales for the preliminary three quarters ended September 30, 2016 gained 19% to $892,795, as against net sales of $749,992 for the same period, a year earlier. This decline can primarily be attributed to a large sale to one of its retail client valued at $497,600, which accounted for nearly 55% of the sales for the initial three quarters ended September 30, 2016.

The sales receivable can be counterbalance with convertible debts which the firm needs to pay to a customer. Bergio plans to focus on its domestic unit and explore additional prospects to advance its business. Overall, there has been a drop in the market for the firm’s items.

For the quarter closed September 30, Gross profit declined 98.9% to $628, as against the gross profit of $56,435 for the same period, a year earlier. This drop in gross profit can be mainly attributed to the selling of the inventory at a significant discount to avail cash for operations. In the reported period, the gross profit was 0.7% as a percentage of sales versus gross profit of 42.7% for the same period, a year ago.

Total S,G &A costs dropped 25.6% and 38% to $491,090 and $121,685, for the nine months and quarter ended September 30, 2016, respectively versus $660,390 and $196,404 for the nine months and quarter ended September 30, 2015, respectively. This decline can be linked to reduced professional fees and marketing costs.

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Steve Kanaval: Portfolio Manager/Writer/ Market Analyst Steve began his career in the Trading Pits in Chicago making markets at the Chicago Mercantile Exchange (NYSE:CME) the Chicago Board of Trade and the CBOE in the early 80’s. He ran the Morgan Stanley Derivative Prop Trading for the firm specializing in Index Arbitrage. He continued his career as a Trader/Portfolio Manager for multiple Hedge Funds during the Internet Boom of the 90’s managing large portfolios. Steve is known as an expert in MicroCap Technology Stocks and the emerging Digital Currency markets as a Portfolio Manager for his Family Office. Steve has managed portfolio’s in volatile asset classes for 3 decades as a commodity trader, hedge fund manager and digital currency trader and miner. Steve publishes his views on the asset classes in a public forum and has published more than 10,000 articles simplifying these complex and volatile assets for readers. His work is published on multiple sites including Bloomberg, Equities.com, Hacked.com, CryptoCurrencyNews as a paid contributor. His work includes research, journalism and archived video on important market volatility related to stocks, digital currency and other volatile misunderstood asset classes. He offers a humorous, unique insight and the related back stories and drivers for readers interested in volatility and emerging market assets. Full disclosure Steve is long 25 digital currencies and sits on the board of multiple public companies involved in digital currencies, and owns shares in these companies from time to time.

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