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  • #27843
    radhutheoptimist
    Registered Boarder

    Thank you @Nikhilraj

    Brightcom Group Share Holders Association – BGSHA, currently has 400 membership requests with collective holdings of 65 million shares and we are growing. Our Association registration process is in progress and we are hopeful of getting it stamped by June 2024.

    The objective of the Association is very simple. Anything and everything is fine as long as it benefits retail shareholders of BCG.

    I strongly believe this is the only way you can safeguard retailers rights and interests. So let’s give it a try. There is nothing much to lose at this point of time.

    It can turn out be a new beginning to BCG too…under new management with sincere retailers representation I am sure BCG can flourish.

    Please check it out. This is the starting point.

    https://t.me/+yxgWwhoBTuxkZTU1

    #27844
    radhutheoptimist
    Registered Boarder
    #27852
    radhutheoptimist
    Registered Boarder

    I am just wondering… What is happening to this group. Why there is not much encouragement to an Association of BCG share holders with a legal standing. What is the point of writing pages and pages of comments in social forums when someone can really represent share holders and suggest better ways to BCG management. Why don’t you we have faith in the system and process?

    Today I can promise you to get the written support of minimum 2k shareholders with 10% of holding in a very short period of time…which is good enough to demand EGM…. Or good enough to have a representative on behalf of the retailers. But still… Here in this group people believe someone else will take care of it… So what happens to those pages and pages of postings?

    At BGSHA… with our collective holdings we are trying to engage management for a dialogue. Which seems to be possible given the indications. Why there is no enthusiasm or interest shown in this group? I believe people in this group have much more knowledge than us to have a beneficial dialogue to the fellow share holders? Still no taker..Have you sold out your shares and given up? If so… Have the guts to say so. I will move on knocking other doors (I might laugh… But..)

    #27853
    Akhil
    Registered Boarder

    After having held the shares for two years, and after the notification in the stock exchange that it may get suspended, and limited trades will happen once every few months, i finally pulled the plug and booked my loss. Heartbreaking since I’ve held it for more than two years and the loss booked was huge!
    Kallol sen doesn’t seem to be a trustworthy guy especially after having heard his conversation with an investor stating that the company will drown without him. No one person can be above a company and it seems he still is pulling strings and manipulating things.
    I do hope for the sake of the balance 5 lakh investors that things turn around and you all get a fair price.

    #27854
    Logan
    Registered Boarder

    @radhutheoptimist, if you remember, it was me who suggested that shareholders/investors should form a legal association (not sure on other platforms but at least in this forum). I was also the one who suggested/requested people living in Hyderabad to visit the company to get more clarity. But unfortunately I won’t be able to join any association or group because of my health issues. I have informed about this when I suggested to form the association also. It’s not like I want others to do the work and I can relax but it’s very difficult to do anything when you’re having severe health issues.

    Also, many things have changed a lot lately. When I suggested this, the SCN2 had not come and things were very different. Back then I had more hope and believed the numbers but since SCN2, I’m not trusting the numbers 100%. My only hope is OMS, Israel and if SKR has played with that too then there’s no hope left for me.

    Personally, I don’t think I can contribute more than giving basic suggestions and for that joining the association won’t be required. If the company/board get their basics right then things will start to improve. The first basic thing for the board to do is to take actions quickly and be more transparent and good things will follow automatically.

    If you remember, from day one I wanted the company to improve corporate governance and appoint a reputed auditor and I was okay with the company not paying dividends and use the same money to appoint a reputed auditor. This is an example of being more transparent which would’ve changed things a lot.

    Everyone can contribute in different ways and it’s not that someone can contribute only if they join the association. They can write here or in various other platforms and share their suggestions with you and you can use those suggestions and present them to the board/management. I really appreciate your and all the shareholders efforts in creating the association but because of my health and other issues, I won’t be able to join.

    #27855
    radhutheoptimist
    Registered Boarder

    Thank you Logan ji

    That’s all we want. You don’t have to join the association if you don’t prefer to.

    The association BGSHA will get registered….we will have enough members support… We will be meeting the management eventually face to face. We have to ask right questions, provide suggestion and set expectations. SO WE NEED TO BE CLEAR FIRST ON WHAT IS RIGHT. We don’t want to mess it any further.

    You can guide us through this forum too. I can take it from here. Let us know what you expect from the association.

    Thank you for your response. Can I go and tell the crowd that we have the blessings of Logan ji. We will get atleast 5k members joining immediately 😁.

    🙏

    #27856
    radhutheoptimist
    Registered Boarder

    Ok… We don’t know if BCG is really owning OMS as we started questioning everything now. What can we do now? Can we write to OMS and ask them right away as an individual? OMS may not respond. Will OMS respond if a mail goes from President of BCG Share holder Associations whose membership is 2000 and who hold more than 10% of equity. Chances are very high… Right?.

    Same logic applies to everywhere…. SEBI, ED, or the company itself

    We didn’t think of starting an Association earlier as we thought it wasn’t easy. But today a group of well-educated sincere honest people joined together and making the association a reality with single most objective of safeguarding shareholders interest.

    Now what are we waiting for to join?

    Yes… We are asking about certain personal details like your DP name, email id and an optional detail like quantity you hold.

    But think about it. Can we go anywhere and say that we have 2000 shareholders as members? Won’t BCG ask us to provide proof if all these 2000 members are actually holding shares of BCG. How do we prove that? We have to give name as per DP record and quantity and may be DP number. You are providing these details not to some faceless organization but to an officially registered entity (though we do such things in our day-to-day life like giving away a copy of our Aadhaar and all blahs to anyone asking for} This is the process, and we need to follow it if we want the Association to become successful. Right now, I am the only person who has access to the data, and it will remain like that. Though I am not sure what one can do keeping those numbers and name.

    We are just planting a sapling here. We will sincerely water it and fearlessly safeguard it. When it grows it will provide fruits not only to those who watered it… But to EVERYONE,

    In case

    This is the form

    https://forms.office.com/Pages/ResponsePage.aspx?id=DQSIkWdsW0yxEjajBLZtrQAAAAAAAAAAAANAAXKdTQ5URUJNWEdBMTYwQjBTRk1VVjI0MU01WTIyOS4u

    To join BCG shareholders association. BGSHA

    Thank you
    Radhu

    #27862
    Logan
    Registered Boarder

    This is hopeless from the company.

    They are saying that the auditor resigned when they were supposed to share the quarterly results. It’s either the auditor found something wrong or the company must not have provided the details which the auditor asked for and hence they’re resigning.

    I think the auditors were appointed in November which is more than 6 months back and the company is saying that the review is still not complete. They think of us as fools. And now they’ve appointed a new auditor and don’t know how many months they will need to do their review.

    People like SKR and Kallol are bringing bad names to prestigious institutions like IIT and IIM.

    #27863
    radhutheoptimist
    Registered Boarder

    The only solution at this point of time is joining the Brightcom Group Share Holders Association – BGSHA… And working together.

    Check this out.

    http://www.bgsha.in

    8+
    #27872
    Logan
    Registered Boarder

    SKR and KS are the same. The Worst Of Times Can Bring Out The Best In People but seems this doesn’t apply to people like Kallol as he has made matters even worse.

    They have no humanity and no sympathy. SKR and his friends made thousands of crores but we are losing all our life savings.

    #27874
    Nikhilraj
    Registered Boarder

    The big positive news I heard on BCG is BGSHA key members were able to conduct a Google meet with Kallol Sen today . Hope Radhu ji will soon share the details they discussed through the channel. Kudos to the team . This is great achievement for the association that it could make a connection with the management in a very short time.

    #27875
    radhutheoptimist
    Registered Boarder

    As promised we will have a registered Association in another 10 days time…with all procedures in place. And already we have support of 800 people with 100 million shares holdings. Opened communication channel with the Management… May be if we really push hard we can take the count to 2000/200 million collective holdings.

    But this is where we need an Angel… To direct us in the right direction. I know this group is full of potential angels… But not sure who would actually get in to guide.

    Check http://www.bgsha.in

    #27882
    AdUp
    Registered Boarder

    All things considered, I think the trading suspension is a blessing in disguise for us investors. I don’t mean to say it is the best outcome in the circumstances, but better to stop trading until things are sorted out. In fact, I would have even preferred if this happened a few weeks back.

    #27883
    Logan
    Registered Boarder

    Hi @adup, I fear we are falling into Stockholm syndrome as we have become hostages to SKR through Kallol. Everyone knew that it would take a long time to resolve the issues which BCG has but we’re not seeing any actions from the board. All the board members resigned and no other development has happened. They had so much time to publish the results but failed giving silly reasons.

    With BCG/SKR, there was always drama and uncertainty but the survival of the company was never in question but now all our money will go to vain if no actions are taken. When Lycos case with Daum happened, I supported SKR’s decision because Lycos was not worth anything and the company didn’t depend on it but now there’s so much at stake. There’s no urgency or seriousness from the board to resolve the issues and they are depending on SKR to take actions which is making him more powerful. What if tomorrow all the 3 board members resign? Who will take care of the company? They are playing with us. SKR will be okay to wait for years to get back into the company but what about more than 6 lakh shareholders and their hard earned money? He has made thousands of crores cheating us whereas our life savings is at stake.

    They really don’t have any humanity and are playing with our lives.

    #27884
    Saach
    Registered Boarder

    Hi dear @Logan, I always respect and appreciate your efforts, views, technical knowledge and much more. As I am sailing in the same boat and was having blind faith and trust in SKR. I fully agree with your concerns, as explained in your last paragraphs. But still have strong feelings that the case is not yet closed and if you go back and look into the old history and performance of this company before the change of company’s name to Lycos, you will observe the same scarry pattern of performance. I hope and am confident this is temporary phase will, definitely, pass smoothly and come out of this worst situation, as well. It may take a bit longer time. We just need positive thinking and patience to handle this terrible phase. Warmest regards.

    #27885
    saf
    Registered Boarder

    ICE CREAM STORY
    A innocent poor SMALL BOY saves up every penny and buys a ICE CREAM from the market.He was accompanied by Big Brother so he is not cheated.

    Back home the Big Brother then tells the community or family that the shop from which the Small Boy brought the ICECREAM is a fraudster and has sold a fake ICECREAM.

    WHOM WILL YOU BLAME?
    1.Is the small boy at mistake? (Retailer of BCG)
    2.Will You will blame the shop (BCG) for selling the fake Ice cream.(If it is )
    Or
    3.You will blame or question the intenstions of big brother (SEBI)

    #27886
    whity3187
    Registered Boarder

    Big brother will be of no use, if the shop decides to fake the ice cream to cheat its customers. It will take some time for the big brother to find this out and taking action(Possible suspension), until then, lot of small boys would have wasted their hard earned money.

    Big brother is warning you, that the ice cream you have is fake, now how many boys are still holding that ice cream?!

    #27887
    Spamfortress
    Registered Boarder

    Hi @Logan, spot on, as usual. All the previous board members resigned since they no longer wanted to be a part of this circus. Everything going on is beyond doubt, a premeditated and well thought out plan. I was and I am still very excited about the business model that BCG is based off of, but SKR would not let go the business he so passionately built. But why, ignore and disregard the shareholder who are with the company through thick and thin. BGC with no tangible assets and possibly being pushed into an abyss, I am really concerned whether our investment in BCG might evaporate. I hope that doesn’t happen. SKR would never let any other company or entity, take over. I personally have always felt that he is not running a public limited company but a private limited company, rather. Like I alluded to, earlier, this is all, pre-planned to the finest detail. Meanwhile, we hapless shareholders are sitting ducks at the whims of a delusional and probably a sadistic person.

    #27890
    Logan
    Registered Boarder

    Thanks @saach and @spamfortress.

    I’m not an expert on body language etc but it’s clear that the recently shared letter was from SKR and not from Kallol. Not just this but seems like all the clarifications came from SKR. I’m tired of seeing only clarifications and words but no action from the company/board. Only comforting factor is that BCG owns OMS. I guess/think they decided to change the brand name to come out of the Brightcom name because of negative press.

    The main reason I supported SKR was because he kept the company from going out of business when many other companies failed. Adtech is a very tough industry to be in and also, it’s very hard to even guess short term future and will always be very unpredictable.

    Check Perion Network’s recent developments, last 3-4 years it was everyone’s favourite company but no one wants it now. They are facing significant revenue loss because of Microsoft Bing’s policy changes. People have filed class action suit against the company for misguiding investors and the stock has tanked more than 80% in the last year (more than 40% in a single day in April).

    Not just Perion but Direct Digital Holdings also. Last year it was below $3 (or below $2) and went above $35 and it fell to below $3 again this year (more than 90% down). It also tanked more than 40% in a single day (it was trading above $30 in March but fell below $3 in less than 2 months). One company said Direct Digital’s subsidiary, Colossus Media, misrepresented user IDs and showed wrong users or something (I’m not sure what that is as it’s very technical to understand for a layman). Many people have filed class action suit against Direct Digital too.

    Some people will say that BCG couldn’t have that much revenue etc but that can be said of many adtech companies too as they have high growth rates with fewer employees like BCG.

    Direct Digital revenue was less than $7M in 2019 but $160M in 2023 (increase of more than 20 times in just 4 years). I think it was started in 2018.

    Perion Network – $4M in 2002 to $35M in 2011 but suddenly to $326M in 2013. In 2019 it was $261M but in 2023 it was $743M.

    Magnite Inc – $37M in 2011 to $248M in 2015 and $156M in 2019 to $620M in 2023.

    TTD – $45M in 2014 to $661M in 2019 and almost $2B in 2023.

    I’m not cherry picking data and I’ve selected 2019 because it was the year before COVID. Everything is there in public domain and anyone can check anytime. I’m showing sudden growth or very high growth levels in many companies.

    I didn’t suspect SKR’s intentions because adtech companies will always be looking for acquisitions. Perion has acquired Undertone, Vidazoo and recently acquired Hivestack which is a Digital Out of Home company, similar to Consumables Inc which BCG wanted to acquire. Hivestack has grown it’s revenue 20 times from 2019. Check the expectations Perion has set for Hivestack. Currently Hivestack’s revenue maybe is $45M but Perion wants it to do $300M+ in 2024-26. More than 6 times in 2 years which is crazy.

    And, adtech companies need cash always. Affle has raised money many times (once in it’s IPO, then a QIP and maybe in 2022 or 2023).

    BCG/Ybrant is older than many of the companies mentioned above. OMS was very big (maybe among the top 10) when it was acquired by BCG (in 2007-08). So, it’s not easy to say whether the numbers are real or fake because other companies have grown similarly or have done better. I don’t know whether SKR used MediaMint and Consumable Inc news to hype the stock or it was really genuine. One thing is that with other companies, they will also hype their target companies but unlike BCG they will share the name of the target companies sooner and won’t be like SKR saying the names of the companies after 1 year.

    I wanted to share these earlier but due to health issues I was unable to. It takes a lot of time and effort to collect data and make opinions on that.

    Some people will say everything is fake and don’t trust anything and others will say everything is real but please don’t listen to anyone as people are always biased and they’ll misguide us. Their only agenda will be to make you follow them. If they have sold their shares, their agenda will be to make you sell and if they’ve bought shares then their agenda will be to make you buy the shares. Always do your own research or approach sebi if you have confusions. Personally, I have remained invested because of OMS. That is the only hope for me but I’ll never force anyone to follow me. Let’s hope for the best.

    #27891
    Akhil
    Registered Boarder

    Logan, brilliant analysis once again. I hope and pray your health improves. I have over the past 2.5 years benefitted from your analysis as i bought the stock at lower levels. I was lucky in one way, that both on 2022 and early 2023, I was forced to sell part of holding (very profitably )as I needed money.
    SKR was indeed a glib liar and smooth talker and one tended to believe all his lies. I too fell for his lies…
    Pre suspension I sold off most of my holding at a huge loss , but have kept 10% in the fond hope that I will recover this year’s loss.
    Hope the retail shareholders finally get a fair deal

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