Fairfield, NJ , April 25, 2018 (GLOBE NEWSWIRE) — Bergio International, Inc. (“Bergio”, or the “Company”) (OTC PINK: BRGO), a leading diversified jewelry designer and manufacturer of fine jewelry, today reported its financial results for the year ending December 31, 2017.
During the year ending December 31, 2017, the company showed total revenue of $635,948 compared to $557,375 for the same period last year, an increase of 14% from year to year. The gross margins from year to year ending 2017 has also increased by 24.4%. The general and administration cost has decreased by 32.2% compared to the same period last year.
Our net loss as of December 31, 2017 is ($199,785) compared to a loss of ($744,070) for the same period last year. This is a 375% improvement.
Mr. Berge Abajian, President and CEO of Bergio International, Inc. stated, “I am very pleased with the year end results. It shows our new direction into the retail market is finally materializing and shows an increase in revenue and gross margin. We are still selling wholesale through our customer base which is also showing an improvement from last year.” He adds, “We had a few setbacks with our expansion opportunities specifically with Hard Rock Hotel & Casino, but we are forging forward with other opportunities in different properties.”
He concludes, “We had a successful meeting in Chicago last week with Iliad and Typenex and are in talks to modify the convertible note into a straight term note. I feel if this achieved, it will be a big step forward for Bergio. We will report on the outcome as soon as it is finalized.”