Bergio International Announces Positive Second Quarter Results
12 Août 2010 - 2:00PM
Business Wire
Bergio International, Inc. (OTCBB:BRGO), Bergio International
announced today that they are pleased with the positive second
quarter results reported in the 10-Q Financial Statement, second
quarter ending June 30, 2010.
The company reported a second quarter sales increase by 40% for
total net sales of $437,893. In the first six months, sales jumped
from $454,307 to $548,995. Gross margins improved by 28% in this
quarter and 43% for the first six months. Also, in this quarter,
the company shows income from operations of $37,762 compared to a
loss of $93,191 same period last year. The company contributes the
positive news to our expansion of our customer base outside the
United States and the successful results experienced through the
JCK Show in Las Vegas earlier in the year.
The 10-Q Financial Statement, ending June 30, 2010, indicates
the company improved its current assets by 18%, decreased its
current liability by 55% and improved its total working capital by
$1,514,078 which was contributed by converting debt into equity.
The company took a one time share-based expense charge for the
second quarter of 2010 for $535,160 which was the result of the
termination of our securities purchase agreement with Tangiers. The
company also took a one time-share based expense charge in the
first quarter for $ 242,900 for a total combined share-based
expense charge in the first two quarters of 2010 for $778,060.
Berge Abajian, CEO of Bergio International, Inc., said, "I am
pleased with the positive growth of the company. This was a direct
contribution of all the measures that we took in the beginning of
the year. I invite all of our shareholders to read our financial
statements very closely, specifically the section titled, `Net
Loss' found in the Management Discussion and Analysis which
explains the turn-around of the company.”
About Bergio International, Inc.
Bergio International, Inc. is a leading jeweler creating one of
the world's largest diversified jewelry designers and manufacturers
through acquisitions and consolidation in the estimated $160
billion a year highly fragmented independently owned Jewelry
industry. Bergio currently sells its jewelry to approximately 150
jewelry retailers across the United States. Bergio has
manufacturing control over its line as a result of having a
manufacturing facility in New Jersey as well as subcontracts with
facilities in the United States and Italy.
Forward-Looking Statement:
The statements in the press release that relate to the Company's
expectations with regard to the future impact on the Company's
results from acquisitions or actions in development are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The statements in this
document may contain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. When used in this press
release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such
forward-looking statements. Forward-looking statements are subject
to risks, uncertainties, and other factors that could cause actual
results to differ materially from those contained in such
statements. Such risks, uncertainties, and factors include, but are
not limited to, future capital needs, changes, and delays in
product development plans and schedules, or market acceptance.
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