Bergio International, Inc. (OTCMKTS:BRGO) submitted form 10-Q, wherein it disclosed that net sales for the quarter closed September 30, 2016 came at $88,986, versus net sales of $131,880 in the comparable period, a year earlier. This drop in decline sales can be associated to poor retail and wholesale sales. The firm intends to shift its focus on domestic division and discover additional prospects to back its operations. This development comes irrespective of the fact that the company had witnessed no drop in its firm’s offerings.
The update
Bergio net sales in the first three-quarters closed September 30, 2016 came at $892,795, versus net sales of $749,992 in the comparable period, a year ago. This decline in net sales can primarily be linked to a remarkable sale to one of the retail clients, which was valued at $497,600. As per the update, this sale comprised for about 55% of the sales in the reported period.
The sales receivable can be equipoise with convertible debts, which the entity requires to compensate to a consumer. Bergio intends to emphasis on its domestic unit and discover additional prospects to grow its operations. Overall, the market witnessed a considerable decline in the firm’s items.
For the three-months closed September 30, Bergio’s gross profit came at $628, versus the gross profit of $56,435 in the comparable period, a year ago. This reduction in gross profit can be linked to the selling of the stock at a significant discount to benefit cash for operations. In the stated period, the gross profit came at 0.7% as a sales percentage versus gross profit of 42.7% in the same period, a year earlier.
Total S,G &A costs plunged 38% and 25.6% to as much as $121,685 and $491,090, for the quarter and nine months closed September 30, 2016, respectively against $196,404 and $660,390 for the quarter and nine months closed September 30, 2015, respectively. This drop can be related to reduced professional charges and marketing costs.
