[odysee]

@logan, I only hope that the LOC saga is alive and in progress, and no material setback has occurred that has resulted in this delay.
Getting additional funds ( whether through a line of credit or otherwise) is critical to the well-being of BCG and its stakeholders as we are fully aware.
A reassurance from the management on this aspect would be truly desirable.
If the meeting arranged through the good offices of Admin does fructify, that would be a tremendous confidence building measure.

[m4max1979]

I think now the only option BCG has now is to close issues at the earliest and keep the investor community updated. Vested interests can only play this game till there is uncertainty. That is what they are trying to do now. If you see, the perception they are trying to build now is that even if issues are resolved, big players would not let the price go up and the company would have to bring in big institutional investors to stabalize the share price. Now I want to know whay would there be volatility at these prices if issues are resolved. It would just not be there as nobody would want to sell, hence the perception being created now that it is better for retailers to sell now and buy when the prices go to 2-3 which will never happen in my opinion.

[buffet]

@admin

Please ask the below documents/queries in F2F meeting with SKR.

1) E&Y audit report – In one of the conf-call SKR mentioned that he is ready to show the E&Y audited results of OMS if someone wish to see it in person. The OMS revenue is almost 40% of the overall revenue.

2) BDO audit report – Please request for consolidated BDO audit report of 11-12 subsidiaries.

3) In principle approval letter on LOC. I understand that due dilligence is in progress before the final grant. But there should be some communication in that regard.

4) Till last conf call, we were under the assumption that funds have been reserved for daum settlement. Have we used those funds somewhere else?

5) In the better interest of BCG, any plan to talk to operators who hold almost 20%?

6) Can BCG initiate any legal action against price manipulation?

7) Any large scale buyback plan?

[admin]

Thanks buffet for the questions. Regarding #1. We already had Hitesh/xpertopinion visit BCG office last year and have seen it.

We also have SK Vedula expressing interest to join along with Sateanna and Rathi. I think three is a good number to limit the Covid concerns.

I have send email to IR requesting for an appointment this week. Will be sending the questions if we get a response to it.

[tanv151]

@admin I am sorry if I have missed the bus, hope not. I have a few questions and would love to join sateanna and others. let me know

[tanv151]

@sateanna thanks for your support and efforts. Others, thanks for seeing value in meeting the promoter F2F. SKR is neither a friend nor a foe, I am always try to view my investment in a practical way. Any good work done by SKR (in this case) will be appreciated and anything that is not taken care of in a timely & transparent manner, will be questioned.

I like all the questions that have come up so far, especially @buffet.
Below are my questions:

1 – SKR had confirmed raising complaint on share price manipulation. Can we see details of complaints raised with SEBI or other regulatory bodies for investigating share price manipulation?
2 – Can we see the Audited reports of all international subsidiaries?
3 – Can we see the details of Income Tax dues and dispute with the authority?
4 – Break up of employees based on each entity? Where did we add 153 people between Feb 10th through May 13th.
Feb 10th Newspaper interview says 350 employee globally

https://www.thehindubusinessline.com/info-tech/brightcom-group-goes-for-organisational-restructuring-to-help-streamline-fund-flows/article30781685.ece

May 13th investor presentation shows 453 employees
https://www.bseindia.com/xml-data/corpfiling/AttachHis/58ac3aba-2ecd-4c58-80b6-0c1ca61ae0d4.pdf

5 – Why is BCG paying PF for only 21 employees under ‘Lycos Internet Ltd’ in India? Why did it reduce from 29?
Under which entity rest of the employees are covered?
6 – Did OAK completely exit the BCG on Aug 31st? Can we see any document that can confirm this?
7 – Outcome of the recently concluded Investor meet? How many investors were met with?
8 – Any action taken on the back of recent mandate on multicap funds?
9 – Where do we stand on ML and AI business initiative? How much more time we need to see revenue from this initiative?

@admin I have emailed the above questions with required details to the email mentioned by you. It would be great if these could be included as well.

[admin]

@tanv151 – I am sorry, have already sent the list of three attendees considering that it is not safe for a larger group of people visiting at this time. You have requested to include two other friends making the total to six.

I suggest that you please try to arrange alternate meeting of your own by mailing IR or better visiting BCG office directly. In case we do not get any response from IR in the next two days, you all may decide on what to do next.

[odysee]

@admin, if another question may be considered by the visiting group of 3.
Mr Reddy mentioned at the last conference call that there was some deliberation by the credit providers, whether the LOC would be granted in the name of the listed holding company, or whether to the consolidated subsidiaries under a separate new company which would be fully owned by BCG.
If the LOC is granted to BCG itself, then would the idea of consolidation of the 12 subsidiaries be dropped?
That would be unfortunate, as Mr Reddy had highlighted the benefits of a clubbed entity, with just one set of accounts to be prepared and audited for those subsidiaries, apart from BCG of course. Better for presentation and easier for investors to understand is what he had stated. Easier for a possible overseas listing too, in my opinion.

[tanv151]

@admin – no worries.. @sateanna I am hoping we will get a positive response from IR for the f2f meeting, if that happens, can I request you to consider asking the questions that I have raised, pls?

I really hope BCG management and IR will mend their ways of dealing with share holders and will give us a positive & prompt response.

[Logan]

Everyone has given very valuable suggestions/queries and I’ve skipped those in my list so that its not repeated. My suggestions/queries are:

1) We appreciate the management’s focus on the operations side of things and we always support them on that but sometimes we feel like the management completely neglect the shareholders. We don’t get replies to our mails and the only time we can talk to the CEO is during the conference calls. Some of us don’t get that opportunity too as the call is only for 45 minutes. So improving communications with the shareholders is very important for the company to gain trust.

2) The company needs to be more transparent as the shareholders are losing confidence in the company as there’s so much manipulation in prices, extremely negative market sentiment and fake information spread about the company on various platforms. All the companies will have people who are positive and negative but with BCG there is more fake information than there is useful information. We would like to know what measures the management has taken to stop these fake information spread about the company.

3) Is it possible to dedicate a portion of the LOC money to buyback shares? Some of us have this opinion that even after resolving all the outstanding issues, we may not see stability in prices as there are too many shares in the market which is making it easier for operators to manipulate share prices. Buying back shares is a great investment when the company (stock) is massively undervalued. Share buyback improves market sentiment also.

4) We have information only about BCG’s subsidiaries like Online Media Solutions (Brightcom), International Expressions Inc (VoloMP) and Max Interactive. We want to know whether all the other subsidiaries are clubbed under “Brightcom” or they operate separately. There’s no proper information on DreamAd Group, Dyomo and FDM. Few subsidiaries’ websites aren’t updated properly (Dyomo) or we can’t find their websites (DreamAd and FDM).

5) We request the management to talk to the particular “group” that holds significant quantity of BCG’s shares. Since their holding is large, we have concerns about their actions.

6) We need a breakup of many items in the balance sheet. There are many items classified as “other” and the loans and advances are very high and there’s no information about them in the footnotes (in the annual report). We need proper details about these items in the 2019-20 Annual report. It is very important for investors (both current and potential) to get all the information about the company in the “Annual report”. We appreciate the presentation sent to us via exchanges about some of these items but the same details should be shared in the annual report too (this was discussed in the recent conference call too).

7) Please provide more information about the operations of the company on its website. Details like the company’s history, all its subsidiaries (with links to their websites), Products the company owns (Compass) etc.

8) Is OneTag part of BCG?

9) We thank the CEO for clarifying about BCG providing DSP and DMP services but we don’t know which subsidiary of BCG provides them (We know that Brightcom is an SSP)

10) The parent company’s revenues are stagnant for many years and we would like to know what plans the management has to bring back growth.

[Shivashankar]

More than one crore selling order in both the exchanges I never seen such huge selling order in bcg.hats off to skr and goenkas.

[Rathi_b]

Yupp some biggie selling

[lycos.rags.to.riches]

Does market or G’s know something which we dont know.

[VALUEBUYER001]

All operators goenkas game

[sateanna]

As concerned long term investors should we also try and find out if there’s some manipulation going on in the share prices ?? Long time back there was a suggestion in this group and also a recommendation on an agency who investigates these things. Its going to cost us, but iam sure that we can share as already we have invested huge on BCG. Also SKR has brushed aside that no manipulation is going on, but unlikely he has done a detailed check.

[lycos.rags.to.riches]

My instinct says there might be a block deal in the afternoon. Hope it is true. Else we might see 3 again.

[buffet]

My personal opinion is –
1) I think SKR should initiate communication with G Gang in the better interest of shareholders. There should be some agenda behind this manipulation. Do they want representation in the company board or something else? They almost own 15-20% now through proxy accounts. It’s a huge quantity.

2) The second option could be – Buyback from the open market in huge quantity as shares become available & marginalize the operator holding. BCG would need almost 50+ cr to absorb such a huge quantity. Daum can be further delayed if there is a fund crunch.

3) If nothing works, BCG should consider legal actions. The legal proceedings with operators would be time consuming. Not sure it’s impact on share price.

[Shivashankar]

40 lac shares selling quantity removed by operators aka goenkas.they are scaring small retailers.

[JRS]

I feel CEO is completely unaware of Stock and its market position. He focus only on his technical ideas and uses public money to test those ideas.

At least he don’t have time for investors in this panic situation in the market and make some announcement on what’s happening in the market regarding BCG shares.

I have never seen such attitude.

Profit and loss are inevitable in business, but transparency is must for any leader who wants take public together.

Playing with public emotions is not good, any person who invest in any business will do with risk of loss, but don’t like to be kept in dark.

He comes from one of the top institute (IIT-K)and from one of the great Reddy community. This approach of him is not appreciated.

Sorry to say this, but I believe he should have some empathy towards retail share holders who trusted him for so long.

[Brijraj13]

Sir today noticed an unusual pattern, till now on both exchanges sell orders are pending but delivery is 100%.

[Author]

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