FAIRFIELD, NJ--(Marketwired - May 16, 2013) - Bergio International, Inc. (
The Company reports revenues for the first quarter of 2013 of $316,770 compared to $329,947 for 2012. Further, the company reports loss from operation of $87,833 for the first quarter of 2013 compared to a loss of $32,451 for the same period last year. Our shareholder equity for the first quarter of 2013 was $1,537,408 compared to $1,385,623 for the same quarter last year. Our asset to liability ratio is 2:1. Our working capital for the first quarter of 2013 is $1,573,556 compared to $1,595,272 for the same period last year.
Berge Abajian, CEO of Bergio, stated, "Usually our first quarter is the slowest of the year, our numbers and results were flat compared to last year as expected earlier. We have positive expectations moving forward from the third quarter. Our gross margins were down, the cause of which was mainly the additional labor costs incurred for a multitude of new projects that we are currently working on. I'm very pleased with our asset to liability ratio and also our shareholder equity and working capital numbers. These are very important barometers that the banking institution looks into, in order to award a credit line to the company."
He continues, "As everyone is aware, we had a very successful launch with ShopNBC and are in the process of discussing a future airing of Bergio in the fourth quarter. At this time, we have no concrete numbers to report but once they are available they will be announced."
He added, "Our negotiation with Columbia Bank is in the final stages. Once the documents are finalized we will announce the specific numbers in the acquisition of the credit line. Based on the current situation, the process seems to be going smoothly. We are also working with other banking institutions, as previously mentioned, in order to finalize a larger funding. Our main focus this year is to have the company liquid enough to end the dilution."
Finally he stated, "We are currently in negotiations on other projects as well, which will be announced once they have come to full fruition. I would like to personally thank all of our shareholders for their support."
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.
Forward-Looking Statements:
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.
Contact: Bergio International, Inc. Investor Relations 973-227-3230 Ext13 www.bergio.com
