- August 26, 2021
- Posted by: Jen Olympia
- Categories: media, press releases
FAIRFIELD, NJ / ACCESSWIRE / August 26, 2021 / Bergio International Inc. (OTC PINK:BRGO), a vertically integrated designer, manufacturer, and retailer of fine and fashion jewelry, has announced the closing of the issuance of an additional 500,000,000 shares of its common public stock at a public offering price of $0.007 per share. The shares were issued pursuant to the S1 Registration Statement that was filed on March 31, 2021.
Berge Abajian, Chief Executive Officer of Bergio International, shared, “After a successful offering, we have decided to close our S1 registration as it is no longer needed. Every dollar raised was efficiently used for our pivotal acquisitions of Aphrodite’s and GearBubble, which changed the financial landscape of Bergio, along with operational funds to move the company forward. In the past five months, we have greatly moved the dial, going from $584 thousand in gross revenue last year to being on track to make approximately $20 million this year thanks to our strategic allocation of funds for purchases. This milestone number includes only sales for a portion of the year for Aphrodite’s and GearBubble. In 2022 we anticipate seeing gross revenues reach approximately $40 million, not considering any further acquisitions that are in the pipeline.”
Berge Abajian added, “We are also moving forward with our due diligence for the purchase of a manufacturing factory in Armenia, in anticipation of serving the ever-growing needs of Aphrodite’s and GearBubble production demands that are expected to peak during the important fourth quarter due to the busy holiday season. Financing for the new purchase is already earmarked and will come out of operations.”
Bergio filed an S1 Registration Statement in anticipation of raising funds to cover the purchase of Aphrodite’s, a fast-growing jewelry e-tailer for $5 million, and GearBubble, a B2B e-commerce fulfillment platform for $3.2 million. With the close of the current registration, dilution is expected to tremendously slow down as Bergio further increases revenue and profits from operations. This should yield a favorable impact on stock prices.