Bergio International, Inc., a company specializing in the design, manufacturing, and distribution of fine jewelry, has released its Form 10-Q report for the second quarter of 2024. The report provides a detailed overview of the company's financial performance and operational highlights for the six months ended June 30, 2024.
Financial Highlights
- Net Revenues: $1,353,538 for the six months ended June 30, 2024, compared to $2,010,184 for the same period in 2023, indicating a decrease in sales.
- Gross Profit: $369,340 for the six months ended June 30, 2024, compared to $898,211 for the same period in 2023, reflecting a reduction in profitability.
- Loss from Operations: $(646,280) for the six months ended June 30, 2024, compared to $(481,345) for the same period in 2023, showing an increase in operating losses.
- Net Loss: $(569,935) for the six months ended June 30, 2024, compared to $(1,510,501) for the same period in 2023, indicating a reduction in net losses.
- Net Loss Per Common Share: $(0.00) for the six months ended June 30, 2024, compared to $(0.06) for the same period in 2023, reflecting a decrease in loss per share.
Business Highlights
- Revenue Segments: Bergio International, Inc. operates primarily in the design, manufacturing, and distribution of fine jewelry, with a focus on leveraging the Bergio brand to establish a chain of retail stores worldwide. The company's branded product lines are designed by the CEO and are central to its retail strategy.
- Geographical Performance: The company is headquartered in Fairfield, New Jersey, and primarily operates within the United States. There is an intent to expand the Bergio brand globally through retail stores.
- Future Outlook: The company plans to sell its majority-owned subsidiary, Aphrodite’s Marketing, due to declining revenues and consistent operational losses. This strategic move is part of a broader effort to streamline operations and focus on core business areas.
SEC Filing: