SOURCE: Bergio International
FAIRFIELD, NJ--(Marketwired - Apr 29, 2013) - Bergio International, Inc. (OTCQB: BRGO) ("Bergio" or the "Company") gives their update on their recent financial activities.
As of recently Bergio retained the services of a private investment banker, Legend Securities Inc., to assist the company in both obtaining a credit line and exposing us to hundreds of lenders. We are seeking to obtain a credit line between the amount of $750,000 to $1 million. Additionally, Columbia bank has gone through the preliminary stages of granting Bergio a credit line and wish to proceed further. Once the paperwork has been signed and finalized, the amount will be disclosed. The company will be filing the needed opinion with the DTCC by May 6th, 2013 in order to release the chill on stock issuance.
Berge Abajian, CEO of Bergio Int'l, states, "We are determined to acquire the credit lines so that we are able to end the dilution, brought upon by small funding with higher discounts. I understand the concerns of our shareholders but it is quite difficult to push to the next level without proper financing. To prepare for the ShopNBC launch, Bergio incurred a large expense related to the design and modification of pieces to fit the ShopNBC demographic. One must also consider the usual quarterly professional fees, in addition to the fees related to the DTCC chill."
He added, "I feel that that the situation is under control. I would like to personally thank our shareholders for their support. Adding new shareholders in the past few months seemed to remedy the situation and keep the stock stable." He also added, "Our shareholders have been doing an incredible job with spreading the news of ShopNBC launch on May 7th, 2013. It looks like it will be successful."
He continues, "Concerning the chill, I would like to inform our shareholders that we were only chilled on stock issuance, not trading. I am looking forward to having the chill lifted one month after filing the opinion. In the next few weeks, we will release our 1Q results. As previously stated, due to the amount of current projects we may have a slow start, but once our plans come together the future looks bright."
About Bergio International, Inc.
Bergio International, Inc. is a leading jeweler creating a diversified jewelry designer and manufacturer through acquisitions and consolidation in the estimated $160 billion a year highly fragmented, independently owned jewelry industry. Bergio currently sells its jewelry to approximately 50 jewelry retailers across the United States. Bergio has manufacturing control over its line through its manufacturing facility in New Jersey, as well as subcontracts with facilities in the United States and Italy.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.