Tagged: Online IGCSE Tutors
March 3, 2023 at 10:22 am #25669
someone start the topic in tweeter including all issues , we can contribute to it..let it make it trending so management listen to it6+March 3, 2023 at 10:36 am #25670LoganRegistered BoarderMarch 3, 2023 at 10:53 am #25672
@Brightspot right. Someone, please start on Twitter. We will support you. The time has come to make collective efforts.7+March 3, 2023 at 11:34 am #25673
#FIXSHPDAUMAUDIT Tweet You can contribute if you feel if it is appropriate11+March 3, 2023 at 11:43 am #25674radhutheoptimistRegistered Boarder
As I singularly blame SKR for current situation. From the point of
– Axis Bank loan handling
– 5 Paisa dividend delay
– Daum Debacle
– Bonus Bonanzas
– Mediamint/audio Lolipops
– Bonus share distribution
– Equity dilution for no reason
– Forensic Audit
Everything is planned to just make some personal gains. Just to vent out my frustrations At this stage I can only digitally spit at the person responsible by saying
#ThooThooSKRMarch 5, 2023 at 12:23 pm #25676kmr003Registered Boarder
@Rathi_b sir, did you get any update for meet up with mgmt,
Brightcom Group, Investors lost confidence and trust on BCG management.it is very hard to restore once broken.
The question to mgmt is, they are willing to make big investor friendly steps or not ? How quick ?is most important.
If mgmt promises now, definitely it will take 3-4 years minimum, (past records says)
I personally feel. SKR should step down and give opportunity to proven leadership, this is not easy as I say.
Because market is not trusting him. No big investor turing even trading at less than 4 PE. PAT of 900+ cr
Immature past actions by SKR.
( Not one or two we can list 10s of his actions )
High time, he should retrospect and step down and work on improving growth of business and products development of BCG.March 8, 2023 at 9:48 am #25679
someone asking in MMB how to contribute to tweet search #FIXSHPDAUMAUDIT in the tweeter and reply to the message make sure all groups are included in the tweet, unless there is enough number of responses tweet wont trend and get the attention of management4+March 8, 2023 at 10:22 am #25680
@Brightspot We have to be fast now,or else the stock price will be in single digits very soon. We will have to force management to either buyback or fix the DAUM issue asap so that audited subsidiary results are posted by management.5+March 8, 2023 at 10:28 am #25681
Let us try to convince management to buyback first so that they can get time to resolve DAUM issue.4+March 8, 2023 at 11:23 am #25682LoganRegistered Boarder
Audited financial statements of 4 subsidiaries of BCG have been uploaded on the company’s website.
(I saw a post on MMB and checked immediately)
“The audit reports for the top four subsidiaries, which make up a majority of the consolidated business, have been made available. However, the reports for the smaller subsidiaries, which together contribute approximately 25% of the consolidated revenues, are still being processed for translations and other considerations. They will be uploaded in the coming few weeks”
Though the pages that contain the financial information have been locked, at least the opinions and remarks by the auditors have been added and they contain the signature of the auditors also. OMS/Brightcom Israel is audited by EY (as everyone knows) and the US subsidiaries have been audited by Ram associates.
The below is there on every page that contains financial information.
(As a prudent business practice, access to the financial information in this document is limited to in-person viewing at our corporate office during regular business hours.
The financial data can be correlated with the summarised financials of individual subsidiaries in our Annual Report for FY21-22.
Please visit our office to view the complete document.)March 8, 2023 at 11:51 am #25683
@Logan Thanks for the information. Now the next thing the company should do is buyback shares of at least a small quantity.3+March 8, 2023 at 12:02 pm #25684March 8, 2023 at 3:48 pm #25685
If a big group like ADANI can do anything to protect its investors from a giant like Hindenburg, then BCG can also protect its investors from forensic audits by clearing the following issues:
1) Audited subsidiaries report: done
2)Buyback of 100 cr as valuation is pretty low
3) Daum issue to be cleared asap
The time has come for this group to act and convince promoters that without a forensic audit, the share price can also move up (as the financials are strong). #Chalo Hyderabad: support this movement and come out in masses. Let the roar of the masses be heard by management.
Guys Don’t get frustrated, as it will waste our energy, money, and time. Let’s work together so that sleepy management acts faster and BCG gives us what we’ve waited for for so many years.March 9, 2023 at 10:17 am #25687March 9, 2023 at 7:56 pm #25688
Hello respected fellow members ,
Kindly update if anyone planning to visit BCG office ?
#chalo Hyderabad.7+March 9, 2023 at 10:11 pm #25689
Today I’ve increased my holding to more than 2.5 L , management seems to confident in their business and they are not shying away showing the balance sheet..FA could take another 2-3 years Market regulator closed grievances with below reply
Matter is being examined by CFID-SEBI. The status of information cannot be ascertained as SEBI conducts the investigations confidentially in a holistic manner. SEBI will neither confirm nor deny the existence of any investigation. Any regulatory actions taken by SEBI are published at SEBI website3+March 10, 2023 at 10:04 am #25690vedRegistered Boarder
When was the management not confident in their business? Every quarter, they have showed better number than the previous. Its the inability to act or close the issues, sticking to their words and wayward decisions which has left the investors clueless. There may be issues with Daum settlement, but why cant they inform the investors about it. After saying that its a “done and dusted” matter, more than 2 years ago, has there been any communication to the investors about the status? Also, market was not ready to believe their unaudited numbers, and what did they do. They cancelled two acquisitions, which would have given a definitive proof of the free cash flow. Moreover, this matter of the pledge`e selling the shares in open market sounds completely illegal. Why have they not made a public statement about it or even rectified it. They had more than a year to close this. They keep making stupid investor presentations, but have no interaction with the major investment houses in the country. Any interaction with them will create some buzz in the market and may help in re-gaining the investors confidence. I do not understand why everything has to be so secretive in Brightcom.March 10, 2023 at 11:40 am #25691
FA may take 1 month to 2 more years. Now management should do anything that is required to boost investor sentiments. After sharing audited subsidiary results, management should buy back shares trading at such a low valuation. Out of 1,300 crores in cash, management should invest 200 crores in buybacks, which will restore positive sentiments. Next, they should resolve the DAUM issue as soon as possible to avoid further negativity. This will not only prevent a fall but also boost BCG’s share price. We have to push careless management anyway.11+March 10, 2023 at 1:01 pm #25692Rathi_bRegistered Boarder
Hello everyone, we Hyderabad investors held a meeting with the CEO Suresh Kumar Reddy (SKR) to discuss the various issues related to the stock price. The meeting was long and eventful through which a lot of points were thoroughly discussed.
Dividend to the Parent
Firstly we were informed that the five crore dividend that had to come to the parent company from the subsidiaries has been received. The company is working towards getting this every quarter. We did ask specifically if this money could be used to pay a dividend to shareholders, and SKR agreed.
Brightcom Audio USA
We then spoke about the JV and how it is progressing. We were informed that the hiring for it is happening at a brisk pace, that the website is already up and in a few weeks the business would be up and running. SKR informed us that he is pleased with the JV partner and their ability to create business opportunities and hopes to see it as a value generator very soon. We asked if any money would be invested in the JV, and he assured us that investments are being made as and when necessary.
We then proceeded to ask if the management could consider an early dividend to improve the sentiment around the company in the market. To this, SKR told us that he would consider our suggestion.
Audited reports of the Subsidiaries
We then asked why the audit report of the subsidiaries had pages that we could not access online. To this, SKR informed us that the organisation chose to mask the pages with financials due to business and legal constraints. We couldn’t personally go through the reports, but we to do the same shortly.
Then we asked why the Daum settlement was taking so much time. To this, SKR informed us that a specific team had been set up to settle Daum. And he told us that he would further focus on completing it as soon as possible.
Cash with the company
We asked about the cash the company has that it raised from the market. To this, we were assured that the money is being put to good use and that the recent quarterly results reflect that.
Issues with the Regulator
We then proceeded to ask about the company’s issues with the regulator and how it is dealing with them. SKR informed us that the company is fully cooperating with the regulator and is hopeful of a favourable outcome soon.
Dec 5 and 6 troubles of investors
One of the investors in the meeting spoke to SKR regarding the shares with the holding of Dec 5th and 6th. To this SKR empathised with us and told us that the management or the company has nothing to do with it and that they would support the investors as and when needed.
Finally, SKR conveyed to us to be patient in these trying times and that the stock price of the company will start reflecting the value in line with the performance of the business; once the outstanding issues get resolved by one by one.March 10, 2023 at 2:53 pm #25693
Rathi Sir ,
Thank you for the great effort from your side . It was quite encouraging to read the meeting outcome.
1. Could you share the Audio website which is mentioned as already up ?
2. Did SKR mentioned any timelines to close DAUM ? No one is dare to believe his assurances as everyone in this forum knows .
3.Did he mentioned what exactly blocks to publish the audited report to everyone ? Is it DAUM or anything else ?
4. How to contact the management if anyone wants to check the audited results by visiting the office ? Still ir.brightcom group is dumb and they are not replying to mails
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