Bergio International, Inc. reported its financial results for the three and nine months ended September 30, 2024, revealing significant changes in revenue, profitability, and strategic developments compared to the previous fiscal period.

For the three months ended September 30, 2024, net revenues decreased to $684,571, down 10.75% from $767,060 in the same period of 2023. For the nine-month period, revenues fell by 26.61% to $2,038,109 from $2,777,244. The gross profit for the third quarter was $260,491, a decline of 6.93% year-over-year, while for the nine months, gross profit decreased to $629,831 from $1,178,109.

Operating expenses also saw a notable reduction, with total expenses for the third quarter at $399,352, down from $602,026 in 2023. For the nine months, operating expenses decreased to $1,414,972 from $1,981,582. This led to a loss from operations of $(138,861) for the third quarter, an improvement from $(322,128) in the prior year, and a loss of $(785,141) for the nine months, compared to $(803,473) in 2023.

A significant factor in the financial results was the gain from discontinued operations. The company reported a net income from discontinued operations of $2,000,201 for the third quarter, compared to a loss of $(159,065) in 2023. For the nine months, income from discontinued operations was $1,977,536, a stark contrast to a loss of $(605,892) in the previous year. This was primarily attributed to the sale of its majority-owned subsidiary, Aphrodite’s Marketing, which was completed in August 2024 for $1,000,000.

Bergio's total assets increased to $4,921,016 as of September 30, 2024, from $4,583,414 at the end of 2023. Current liabilities decreased to $5,292,132 from $6,040,890, resulting in an improved working capital deficit of $(3,323,855) compared to $(4,351,014) at the end of 2023.

The company also undertook strategic actions, including the acquisition of Aphrodite’s Marketing, which was completed on June 29, 2024, resulting in 100% ownership. Additionally, a reverse stock split was implemented at a ratio of 1 for 500, effective April 17, 2023, and the authorized shares were increased to 25 billion.

As of September 30, 2024, Bergio reported an accumulated deficit of approximately $22.5 million and a total stockholders’ equity of $3,734,018, up from $2,357,300 at the end of 2023. The company continues to face challenges, including recurring losses and the need to raise capital or generate positive cash flows, raising substantial doubt about its ability to continue as a going concern.