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  • Bergamo Acquisition Corp. (BGMO) Extends Global Involvement Through Strategic Acquisition [View instapost]
    What is creative about the posting from "QualityStocks" above is that many of the statements are technically true, but in their entirety deliver an entirely false and misleading picture of a company, which by my reckoning is insolvent, has no revenues, no real office, and just two employees. For instance, it is not a lie to say that "the company reported net income of $88 million" because in fact the company did issue on Sept 18, 2012 a highly suspect unaudited and unreviewed financial report not filed with SEC for the oddly-chosen fiscal period Jan 1 - Sept 17th that claimed such results. Clearly the market doesn't believe the veracity of such report, probably because Herzog has since 2009 has issued many similar statements (see OTC Markets) reporting unfathomably large revenues, cash, receivables, shareholder equity, profits, etc. Yet as recently as August the company told business partners and made statements in court cases that it had no money. The trail of unpaid vendors and lapsed corporate registrations is easy to find.

    The opportunity for traders to profit on this unregistered unaudited pink sheet play has diminished as volatility sagged in the long slide from the brief one-day peak of $1.17 in Sept 2009, as Herzog massively dilutes shares. Dilution greatly accelerated in August 2012 with 62 million shares issued (almost 50% increase) at $0.001 per share, per the compiled financial report.

    Investors wishing to do more diligence on BGMO would be wise to page through the extensive online files of litigation at New York Supreme Court, for instance the case of Camofi Master LDC v. Bergamo, Hillard Herzog et al. which resulted in $4 million judgment against defendants in 2012. Especially note the claims and statements made by Herzog's lawyer in his withdrawal letter.

    I marvel at the creative writing that allows a public company to claim the name of it's "subsidiary" can not be disclosed because of confidentiality agreements (with itself?), despite the fact that corporate registrations are public information. One typically runs sees such oddities in Nigerian prince deals.
    Nov 11, 2012. 06:51 PM | Likes Like |Link to Comment
  • Bergamo Acquisition Corp. (BGMO) Extends Global Involvement Through Strategic Acquisition [View instapost]
    BGMO is an insolvent pink sheet company run from the home of 83 year old failed garment salesman in Las Vegas, who has made one false and misleading PR after another about unfathomable fundings and investments, none of which have come true. The company is unaudited and does not file with SEC. Do your own research and invest at your own risk. This one is pretty easy to see through.
    Nov 11, 2012. 01:08 AM | Likes Like |Link to Comment