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  • #7684
    Registered Boarder

    @Logicalspeak, thank you for your interpretation of the situation. The question remains as to when the DRT case gets resolved ? Will there be a hearing? If the case was filed in 2017, can the respondent ( BCG) now approach the DRT to close the matter at the earliest possible as funds are readily available to pay the balance amount with interest if need be? How long can this be situation carry on if Axis is being obstinate?

    Blocked User

    @ Odysee, It is very evidently clear, that once the preferential money comes,bcg was ready to clear the axis bank loan as per the OTS . That is around 8 or 9 crore (remember bcg was mentioning it as 11 Crores, which may be including penal interest for delay etc.). Therefore, axis bank appears approached a shortcut route by filing in nclt for restraining the company from using the money for other purpose other than axis loan clearance. This was done by the axis bank apparently knowing by them, that if waited till the money atually parrive with the company, bcg may immeadeatly approach the DRT FOR PAYMENT AND CLOSE THE DRT CASE and therefore filed in nclt for restrainting company from using for any other purpose.

    NOW, BCG CAN waite till 28-07-2020 . IT APPEARS NCLT WILL ONLY CONFIRM THE RESTRINT TILL DRT DECIDES THE CASE NEXT TIME ON 28TH AND REMIT IT BACK TO DRT for final resolution (where bcg is already ready as per DRT CASE for payi g and close. There fore may not be an issue at all for the company), WHERE BIG WILL HAVE ADVANTAGE AS ALREADY OTS MUST BE A PART OF SUBJECT MATTER THERE in DRT.

    IT is also important to note that another point argued by axis in nclt was TO COMPELL THE COMPANY TO deposite the preferential money with THEM IN the account of bcg with axis bank, which nclt did nor agree citing the extent SEBI RULES regarding preferencial money which says it should be kept in a separate account as mandated by SEBI for mandated ways.

    THE nclt case was filed by the axis bank, with an intention to compell the company to deposit ,the preferencial money when arrive with the company , with axis bank account of bcg.But that is not allowed by the nclt. Therefore the nclt interim order is in a way is in favour of bcg. Absolutely nothing to worry, the things are very evidently in favour of BCG NOW, and when it reaches DRT , company will have all favourable position.

    Registered Boarder
    Registered Boarder

    @Logicalspeak #7675, thank you, I gathered the essence of the current position as indicated by you. My concern was the likely time frame involved in closing this matter once and for all, getting the pledged shared (if any) released, and then for BCG to focus on the truly important business related matters once these legacy issues were dealt with. Best.

    Registered Boarder

    The company has uploaded a new update on B local.

    Saul Goodman
    Registered Boarder

    It’s a great presentation, very informative and shows how well Brightcom’s brand is received in the advertising industry. It’s not easy to sign these reputed publishers.

    Only fools aren’t understanding Brightcom’s real value. The true value is actually more than just UC,LC,5% limit, support level,nclt, penny stock etc.

    All the companies at some point in their journey experience set back so it’s not just with Brightcom. The great thing is Mr Reddy never lost focus on building the business. Any other CEO would’ve lost focus and they would’ve tried to find solutions only for the short term but Mr Reddy from the day one focussed more on the long term aspects of the business. Even now when the market sentiment was negative he didn’t care about it and announced the asset impairment, he didn’t want to hide anything, that shows the quality of a true leader.

    I’m sure all these will benefit us in the future. I’m eagerly waiting for the LOC, I want them to sign more reputed publishers after they get the LOC.

    Brightcom is a true global company. If Brightcom traded in the western markets then it’s market cap would be in billions of dollars.

    Topic Author

    Registered Boarder

    Very interesting article in today’s Business Standard on Google and Facebook battling for dominance in the Indian market.
    The scope for digital marketing appears immense going by the comments contained in that article . I quote— “According to Dentsu Aegis Network, digital advertising will hit ₹28,000 crore in 2024 ,compared to ₹13,600 crore in 2019”.

    Registered Boarder

    How much the B local Exchange & the increase in traffic is going to contribute to the top & bottom line needs to be seen. With Lycos numbers also not considered for the overall picture, we can expect a decent growth even without the LOC in place. With LOC and all the above hopefully, this year we will see record figures for sure.

    Registered Boarder

    Publishers are increasing day by day…It has reached to 2.6% market share.

    As @Saul mentioned before some of these might be already existing publishers and AdAuth might be crawling it only now.

    While I am happy that business is growing, wondering how they are able to add even 5% of these publishers. What kind of transactions are these. Are they buying media space from these publishers or are they supplying their ad platform to them or both.

    In case of previous, I feel purchasing ad space from so many publishers in such a short span of time is not possible especially when they have huge cash cruch.

    If this is about supplying their ad platform / SSP to these publishers, there is not much cost involved for Brightcom side and I feel Brightcom is getting in good shape of a true adtech company.

    In case of SSP sales, I believe an update from the company giving the number of publishers using their SSP and growth in last few months would give them a big rerating

    Registered Boarder

    Friends, I might be wrong but i think BCG needs to hire someone who has experience in dealing with markets.
    B-Local is a excellent idea, but the presentation looks like a teacher teaching a student with granular details of technicality and is more appealing to partners and advertisers.

    For investors they should have submitted a different presentation which might be interest of investors saying that

    BCG using the AI technology has went live with a new B-local exchange, this is the first local market exchange in US created by your company and we have signed up reputed publishers, BCG expects many partners to use this exchange during election period and christmas which will add up to incremental revenue.

    Saul Goodman
    Registered Boarder

    @hw_tw, this is what Mr.Reddy said in the conference call about the increase in traffic.

    “Publishers are seeing a huge upsurge in traffic, a lot of spikes in the traffic. And they are completely redoing. Advertisers suddenly have more alternatives. Pricing has come down, but volumes have increased. So it doesn’t matter because net-net revenues stay put or get better. And it’s always good to have — it’s like stock market, right? If you have more people playing in the stock market, then pricing of trade they try to reduce and net-net, the brokerages make money. Very similar if you want to take an analogy there. That is one thing that we are seeing.”

    My guess is that they are reducing their rates to sign more publishers. Going forward, they may sign even more publishers once they get the LOC.

    And I don’t think they’ll reveal the complete list of publishers and advertisers to the public due to competitive reasons. They won’t reveal the details officially but they won’t mind if Adauth or Builtwith reveal the list on their respective websites. If we go to BCG’s office in Hyderabad they may show us the list (and also ORIDIAN’s annual report signed by EY).

    Saul Goodman
    Registered Boarder


    , you are right(#7697). I have suggested to them about this many times in the past. Even when I wrote “Areas of improvement” the first suggestion was about appointing someone with market experience.

    Mr Reddy is a great CEO but he doesn’t know how to communicate with the markets. All the presentations BCG has put up are amazing and very informative but not everyone will read them. Most of the people read only the Annual Report.

    We should tell the company to make this year’s annual report as informative as possible. They should give proper explanation of various items on the balance sheet. They gave complete details about “other items” in the presentation on asset impairment but Mr.Reddy doesn’t understand that not everyone will read those presentations.

    Saul Goodman
    Registered Boarder


    There’s this idiot on Twitter @singhanoop1985 (Beating the street), he always babbles about Brightcom’s fundamentals and tells everyone to stay away. That jerk doesn’t even know what an Ad Tech company does, he thinks fundamentals mean just seeing the balance sheet, he just saw the 2018-19 balance sheet and started whining about BCG.

    That idiot doesn’t want to compare Affle with BCG because he says since moneycontrol doesn’t mention Affle as BCG’s peer in their website, he doesn’t think Affle is BCG’s peer (what a tool). If I ever debate with that guy, I’ll make him cry (not a joke). He always finds one mistake and keeps on whining about that, he’s very irritating. He does this with many companies.

    Our market is made up of idiots like him, you can hardly find people who understand what reality is. Everyone wants plain answers. BCG can’t give answers to each and every person so to build confidence, BCG should communicate more with the investors and the analysts. They are doing their work sincerely but people aren’t understanding or recognizing it (how much ever you like a girl, she’ll only respond to you if you talk to her, BCG’s situation is similar to that).

    Registered Boarder

    Reference the Economic Times article given in #7686, which clearly states that the case cannot be taken up with NCLT when it is already being dealt with by DRT.

    This should have been cited by the company’s lawyer in the hearing on 09 July, 2020 at the NCLT.

    Some one close to the management needs to bring this to their notice as it will help solve the Axis Bank issue in the DRT.

    Registered Boarder

    But in the order it states that they are keeping the money untouched in the account until DRT comes to a resolution.

    Registered Boarder

    Anyways I think we should just be patient till the end of August for the good news to start trickling. I’m hopeful that waiting till September or October would be very fruitful and after that I think the realisation of the stock value will start to happen. Long game ahead and it is just a matter of time till the shorters exit the stock. My intention is to atleast be patient atleast till March.

    Registered Boarder

    *Atleast be patient till March.

    Blocked User

    Refer #7686 & #7701,

    The Allahabad High Court ruling mentioned in #7686, in which it is seen mentioned that same matter can not be processed parallely in NCLT and DRT. But that stated Allahabad High Court ruling is not brought to the notice of the JUDGE by BCG in NCLT before the INTERIM ORDER DATED 09-07-2020 of nclt.

    Therefore, it is better if some one inform the management about the same so that BCG can bring it to the notice of nclt much before next date of hearing on 28-07-2020.

    Registered Boarder

    @Saul Goodman
    I really wish you would do that when you find some free time; I mean the debate with @singhanoop1985 😀

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