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Viewing 15 posts - 5,441 through 5,455 (of 5,455 total)
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  • #27892
    Saach
    Registered Boarder

    Hi Dear @Logan, with due respect for your efforts and concerns for retail shareholders and salute for your precious research points carry a lot of weight. I absolutely agree with your conclusion. For your kind information and as confirmed earlier that our thinking on the same lines. Warmest regards

    #27894
    radhutheoptimist
    Registered Boarder

    Why so much reluctance to join Brightcom Group Shareholders Association, BGSHA. We established contact with Mr.Shankar Sharma and today he is one of the members. Right now we have around 970 members with a collective share holdings exceeding 120 millions… Almost moving towards 7% of the equity. We engage with management on daily basis. Started contacting some HNI and were successful with some.

    Time to come out of the shell and join BGSHA family. We need people like you to guide us.

    Please check http://www.bgsha.in

    That is the starting point to become a member.And it is free.

    I can be reached in telegram ‘RadhuTheOptimist’ or secretary.bgsha@bgsha.in

    #27895
    Logan
    Registered Boarder

    @radhutheoptimist, it’s good to know that Mr. Shankar Sharma is also a member of the association.

    If you don’t mind, can you please share some details about the association’s meet with the management? I know it’s sensitive but lakhs of shareholders are very curious to know the developments happening in the company. Our anxiety and stress levels have reached the maximum and your updates will help us cool a bit.

    Thanks in advance.

    #27903
    Saach
    Registered Boarder

    @radhutheoptimist, I appreciate it all your efforts and messages in this group. simultaneously, a confirmation of joining by Shankar Sharma and having established contact with him from your end, is not a matter of excitement and/or reason for celebration by the retail shareholders. I agree with the message of @Logan and request you to please extend your support the members of this group, as well. Warmest regards.

    #27907
    Saach
    Registered Boarder

    @radhutheoptimist, an important point must be noted and as we are aware that all Warrants holders are having an Upper hand being they are enjoying all preferential benefits of the company, while retail investors will be considered in the last, balanced assets, if anything is left over! during the time of distributing the assets of the company, if the matter comes to that worst end. Hence, we have to support, think and co-operate with the existing retail shareholders and members of this forum since long time. Warmest regards.

    #27910
    radhutheoptimist
    Registered Boarder

    @saach ji can you please elaborate on your point. Let’s have a full understanding as you feel it is important for us to know. This is why I keep insisting to join the Association through http://www.bgsha.in

    Right now our focus is on
    – work with the management. Insist on getting quarterly reports and coming out of trade suspension. Ask for clarifications on set of some 15 questions as suggested by the members. Requested BENPOS, though we are not very sure if we would get it from them, but that is the process we need to follow first.

    – gather support of SS kind of investors and see if something can be worked out outside the current management. We established contact and someone is following it up.

    – Talk to SEBI and request for a speedier solution. Someone is working on it.

    – Look at the possibility of calling for Association initiated EGM

    – some member group is pursuing CAS option. Association is not in Favour of that option at this point of time. However, we will consider it in future if we are forced to

    – we hope we will get the papers from the Registrar of Society by this week. With that we will go for applying for PAN…and subsequently a Bank account. We are not collecting any money at this point of time. But we will be ready to facilitate any need in future.

    – currently around 1900 people have sent their member consent form and our collective shareholding is moving towards 9% of equity. Most of the members have quoted their holding (it is an optional field). We have their name, email, qty, phone. In case of need we can contact them immediately. Meanwhile some Youtubers are showing keen interest and spreading the news about Brightcom Share Holders Association, BGSHA.

    This is a collective effort. All likeminded, learned and well-focused people are working on this. We seek support from this group too.

    Please support and spread http://www.bgsha.in

    you can contact me through @RadhuTheOptimist in telegram. I will respond.

    #27913
    Logan
    Registered Boarder

    @saach, the scenario which you have mentioned doesn’t apply here. In case of liquidation, the first priority (seniority) will be given to debt holders, the second to preferred stock holders and the last to equity holders.

    BCG doesn’t have any investors who hold preferred stock. The stocks issued were on a preferential basis but those stocks weren’t preferred stocks. And BCG doesn’t have any debt so there will be no priority given to anyone and in case of liquidation (in theory) the assets will be distributed to equity holders.

    Hope this clarifies your doubt.

    #27914
    Saach
    Registered Boarder

    @Logan, thanks for clarification, if it is so then why they called preferential warrants? It is a big relief to me personally, appreciate your quick response and clarification, obliged. Warmest regards.

    #27916
    Logan
    Registered Boarder

    @saach, stocks or warrants can be allotted on a preferential basis to raise funds instead of issuing those to all the shareholders which is time consuming and expensive.

    Please refer below link for details.

    What is Preferential Allotment

    In case of BCG, both shares and warrants were issued to people on a preferential basis in 2019-20 (shares), 2020-21 (warrants) and 2021-22 (and shares). Those shares or warrants weren’t preferred stocks or converted to preferred stocks but were issued on a preferential basis (they had a preferred buyer).

    #27917
    Saach
    Registered Boarder

    @Logan, thank you so much for your explanation and link provided. Warmest regards.

    #27919
    Logan
    Registered Boarder

    Board meeting on Friday to appoint executive and independent directors (one each). Going by the recent trends, maybe one or two directors will resign.

    Why aren’t they trying to appoint an interim CEO or CFO at least? It’s no secret that SKR and Raju are trying to come back but why not appoint someone on an interim basis at least? It’s close to 1 year since they both left and there’s zero progression.

    #27925
    Logan
    Registered Boarder

    Kallol lost all his credibility when he didn’t share the results in March. He fooled us then and he fooled us again (before suspension of trading) and he will continue to fool us if there is no supervision from SEBI.

    SKR’s arrogance is the root cause for our sufferings. No one should be this evil and prey on people’s lives. He single-handedly destroyed the dreams and hard earned money of lakhs of shareholders and now he’s not letting others do good also. Our curses and Karma should not leave him.

    #27978
    Abhishek
    Registered Boarder

    @Radhu and BGSHA president, it’s been a while we got any update on Association approach to brightcom management and updates from any such meetings or discussions happened between BGSHA and BCG management. Appreciate your efforts to form association and fighting for retail investors. Request you to please share the updates and next steps.

    #28319
    Akhil
    Registered Boarder

    Seeing the number of sell orders, one gets the impression that the management is keen on pushing the price to 2 or 3/-.
    If ever there was even a little bit of truth in SKR’s fear of a takeover bid, then now is the best time for a takeover. Obviously SKR has played all of us and looted the wealth of retail investors. How Shankar Sharma fell for the con and invested 50 crores, beats me. The fact that he’s keeping quiet now, means that he too was somehow involved!
    There seems to be no way to get information about the company as the telegram channel has closed and Raghu optimist doesn’t seem to want to share anything here. If anyone else here has any news, kindly share here.

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    #28335
    Logan
    Registered Boarder

    They’ll send a notification on the 31st evening/night and tell us that the auditor is getting upto speed and that the audit is not complete and they’ll share the results ASAP.

    And, they’ll also mention that they are sad to see the plight of shareholders and that they’ll follow the highest standards of corporate governance, they’ll be very honest, transparent and use fancy words to describe themselves. There’ll be zero progress and again give some random date and they’ll miss that also and the cycle will repeat

    They don’t have any humanity left.

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