[odysee]

Thank you @Logan for preparing the queries for Admin to forward to IR for the AGM. All very relevant and topical.
I would, however, seek an update on the FA if any further developments have indeed occurred.
It would also be very interesting to learn of the current position of foreign and domestic institutional holdings, as well as new renowned players that may have made an entry or are contemplating doing so.
My policy of not watching the stock price daily has proven to be a complete failure as a monthly glance shaved off a third of my peace of mind.
Logan and VALUEBUYER001, I share your concerns on this matter and am completely bewildered by this unjustified
continuing price erosion.
Nonetheless, hope remains eternal in the human breast🤞

[admin]

Sorry @Logan and others, I could not send the questions as I was down with fever for couple of days and recovering from it.

[Logan]

@admin, these are my queries for the conference call. Please review them once and send them to the IR.

To Mr.Peshwa Acharya,

– Congratulations on a great quarter. We wanted to hear your thoughts on BCG’s India/standalone business and when we can expect to see growth in that business like that of the consolidated business.

– What are your thoughts on how the company is received in the market and being the president of group strategy, what strategic plans do you have currently to improve BCG’s image and change the perception of BCG in the market? In spite of having great business and excellent growth rates, the company’s valuation is not reflecting that and is lagging by a lot. You have been with the company for more than 2 years and you must be knowing which all areas to improve. All the shareholders will be thankful to you and the management if you take steps to improve BCG’s image.

To the CEO, Mr.Suresh Reddy

– Congratulations on a great quarter which exceeded our expectations. The improvement in free cash flow is a healthy and positive sign and we hope to see similar performance in the coming quarters

– In the last conference call you said that Brightcom of 2023, 2024 will be different from Brightcom of 2020, 2021, 2022 etc. Can you please explain what will be different and share your future plans?

– Do you expect to see a slowdown in the business and advertisers cutting their ad budget in the near future because of the macro environment conditions?

– In the last call you said that BCG owns a stake in companies like Boldwin, edgecase, Onomagic etc. Can you reveal the percentage of holding in these companies and how they are related to BCG? Will you be acquiring 100% of these companies? (Boldwin and Onomagic’s businesses look similar to some of BCG’s subsidiaries)

– Does BCG have a stake in companies like Literally Media, MindAd and other companies that are under 44 Ventures’ management?

– Why is it taking so much time to reveal the name of the audio ad company? What’s the update on the final agreement? Is it still in progress?

– What’s the update on Lycos deal with DAUM?

– Update on forensic audit

– Regarding Quantum computing, how much are you spending on R&D?

– In the past you had said that the shares allotted to few investors in 2020 & 2021 would not come to the market but few of these investors like Muskaan Limited and Pankti Commosales have sold all their shares and others like Hansraj, Sahitay and Mangal Commosales have sold part of their holdings. Already the value of BCG eroded a lot in the last 6-8 months and if these investors sell their shares then it’ll bring more supply. What are your thoughts on this?

– Now that the MediaMint deal has been reworked, what plans do you have for the backend operations of BCG?

– Finally, looking at the stock price slide and volatility, we shareholders are a little anxious. What is your message to all the shareholders on this? We know that stock prices are not in your control but we would like to hear your thoughts. The company is doing very well on the business but that is not reflecting in the stock prices.

[admin]

Thanks @Logan. I will be sending the questions today by 8 PM.

[Longplay55]

Thanks a lot @Logan for questionary to SKR, very valid and apt questions on behalf of retailers like us; however I doubt integrity of SKR to answer them in open. If you read SKR correctly, last year, this time he was giving adequate announcements to the Exchanges to in-directly jack-up the price, but now he is keeping silent inspite of such a ‘fantastic’ financial performance. I wish, SKR comes out with truth on SHP and FA issue at the earliest.

[kmr003]

@Admin few more

1. What actions / steps BCG is taking to get fair market valuation , We do not see any reputed DII invested . and BCG is not even  conducting analyst calls. 

2. Mr. Suresh Sir informed BCG organizational restructuring is going  on and will bring global auditors – How much time will this take ? 

3. There is confusion in the Share holding pattern . Morning context has published news on same.
 Can you please give clarifications 

[admin]

Thanks @Logan, @kmr003 – I have sent the questions to IR.

Dear Sir,

Congratulations on a great quarter. Here are the questions for the conference call

To Mr.Peshwa Acharya,

– Congratulations on a great quarter. We wanted to hear your thoughts on BCG’s India/standalone business and when we can expect to see growth in that business like that of the consolidated business.

– What are your thoughts on how the company is received in the market and being the president of group strategy, what strategic plans do you have currently to improve BCG’s image and change the perception of BCG in the market? In spite of having great business and excellent growth rates, the company’s valuation is not reflecting that and is lagging by a lot. You have been with the company for more than 2 years and you must be knowing which all areas to improve. All the shareholders will be thankful to you and the management if you take steps to improve BCG’s image.

To the CEO, Mr.Suresh Reddy

– Congratulations on a great quarter which exceeded our expectations. The improvement in free cash flow is a healthy and positive sign and we hope to see similar performance in the coming quarters

– In the last conference call you said that Brightcom of 2023, 2024 will be different from Brightcom of 2020, 2021, 2022 etc. Can you please explain what will be different and share your future plans?

– Do you expect to see a slowdown in the business and advertisers cutting their ad budget in the near future because of the macro environment conditions?

– In the last call you said that BCG owns a stake in companies like Boldwin, edgecase, Onomagic etc. Can you reveal the percentage of holding in these companies and how they are related to BCG? Will you be acquiring 100% of these companies? (Boldwin and Onomagic’s businesses look similar to some of BCG’s subsidiaries)

– Does BCG have a stake in companies like Literally Media, MindAd and other companies that are under 44 Ventures’ management?

– Why is it taking so much time to reveal the name of the audio ad company? What’s the update on the final agreement? Is it still in progress?

– What’s the update on Lycos deal with DAUM?

– Update on forensic audit

– Regarding Quantum computing, how much are you spending on R&D?

– In the past you had said that the shares allotted to few investors in 2020 & 2021 would not come to the market but few of these investors like Muskaan Limited and Pankti Commosales have sold all their shares and others like Hansraj, Sahitay and Mangal Commosales have sold part of their holdings. Already the value of BCG eroded a lot in the last 6-8 months and if these investors sell their shares then it’ll bring more supply. What are your thoughts on this?

– Now that the MediaMint deal has been reworked, what plans do you have for the backend operations of BCG?

– Finally, looking at the stock price slide and volatility, we shareholders are a little anxious. What is your message to all the shareholders on this? We know that stock prices are not in your control but we would like to hear your thoughts. The company is doing very well on the business but that is not reflecting in the stock prices.

– Any update on the BCG organizational restructuring?

– There is still confusion in the Share holding pattern . Morning context has published news on the same.

Regards,

Admin, brightcominvestors.com

[Logan]

I saw the notification to conference call only now. They should’ve held it sometime in the next week or shared the notification earlier.

If in case they don’t answer our queries then I request callers to not miss asking queries related to these –

– LLPs selling, audio ad company acquisition status, the auditor has shared the remark that subsidiaries haven’t been audited/reviewed by their respective auditors. Please don’t forget to ask these queries.

@admin, these are my queries for the conference call, please review them once and send them to the IR.

To the CFO,

-Update on forensic audit

-The auditor has mentioned that BCG’s subsidiaries aren’t audited/reviewed by their respective auditors. Why have they commented like that and why not get the subs audited like other companies do?

-When are you planning to hold a meet with domestic mutual funds and FIIs?

To the CEO,

-Update on forensic audit

-Is the the company that BCG has plans to start joint venture with is the same company that BCG was trying to acquire?
(Audio ad company)

-The LLPs that were allotted shares in 2020 and 2021 have been dumping their shares in the market and creating not only more supply but also panic in the market as they are selling at a time when there is news like forensic audit and when the company has recorded the highest profit and revenues ever.

Is everything alright at the company or should investors be worried about something that only these LLPs know? If the company is doing so well and if the future is bright then why are they continuously selling their shares?

What if the FPIs who are allotted shares too start selling when their lock in period ends?

-How is the Hygrowth model different from traditional JVs? Won’t BCG invest any capital in these JVs?
What is stopping other companies (big and small) to replicate the same model which causes more competition to BCG?

-Update on Lycos deal with DAUM? You said that there are no challenges in this but why is it taking so much time to close the deal?

-What are the advantages and disadvantages of a decentralised internet? Will it pose a threat to adtech companies?

-Why onomagic and boldwin were started? Their businesses look similar to BCG’s subsidiaries. When will you acquire 100% of these companies?

-Are audienciad and GetMX part of BCG?

-Why is there a lack of information on subsidiaries of BCG like dreamad group, Frontier data management, Dyomo etc? Can you please share more info on these, like their websites, LinkedIn address etc?

[admin]

@Logan – Saw your post just now. I could not send.

[Nikhilraj]

My Hygrowth model
Bought 4000 shares @25 rs investing 1L . Sold 3500 @ 29 (~1L ) . Now I have 500 free shares in demat and 1L cash back to my pocket .All happened in a couple of days .
I suspect the same trick is played by the selfish operators in the last many months ..slow accumulation with out zero investment . Perfect Hygrowth model. Since this model is a brain child of SKR don’t blame me if I belive his connection with operators 😬😬😬

[Logan]

@admin, these are my queries for the conference call. I’ll add more queries once the company publishes the results.

To the CEO, Mr.Suresh Reddy.

We have trusted you and supported you through thick and thin but we feel we have been let down by the management. We request you not to skip any of the following queries as these queries have been prepared keeping all shareholders in mind. Addressing these queries will bring more clarity to shareholders.

-Did you reply to SEBI’s show cause notice (SCN) against the company? What developments have happened after the SCN? Did you appeal at the Securities Appellate Tribunal (SAT)? What potential actions will SEBI take against the company? Should we be worried about the future of the company?

-Why didn’t you report the correct shareholding of the promoters for years? What was the reason for not disclosing it for years and keeping shareholders in the dark?

-You allotted warrants/shares on a preferential basis in 2020/2021 to many people at very low prices. These traders didn’t care about the company or its shareholders and they have made hundreds of crores of profits at the expense of retail shareholders who trusted you and the management by putting their hard earned money. Had they not dumped their shares, the stock price wouldn’t have been at these levels. Why did you give them such a huge quantity of shares?

-There are many lapses from the company’s side which SEBI has highlighted in the SCN. What actions have you taken to rectify your mistakes?

-Why did you give shares to the current auditors and then select them for the next 5 years? Won’t it cause a conflict of interest?

-What if SEBI bans you from being a director in a public company for 3 years and removes you from the posts of CEO and chairman? What plans do you have if that happens?

-Why don’t you consider buying back shares or doing ESOP? These steps will not only increase the morale of shareholders, but also decrease the huge supply that’s been created because of dumping by PW allottes and bonus shares.

-Giving shares to employees/management team (ESOP) will show that the company feels it has a good future and that the employees/management are committed to the company’s future and its growth. Why aren’t you considering this?

-Other companies have acquired or have plans to acquire companies without any issue but in BCG’s case, you always say that the acquisition is almost complete but change all the plans at the eleventh hour. Why does this trend repeat at BCG often? You said you wanted to acquire Mediamint but changed the plan later, same with audio ad company, which was later changed to a JV (with Consumables Inc). Were you ever serious about both the acquisitions? We understand that acquiring companies is not that simple and sometimes the valuations won’t work out but why don’t you keep the information private and announce to the public, shareholders and the market only when you are sure that the acquisition will be complete? We had a lot of hopes on Mediamint and the audio ad acquisition deals as they would’ve brought a fresh change but now we are disappointed with the outcome of both the deals.

-Did forensic audit play a role in not acquiring Mediamint or audio assets of Consumables Inc? Or did Mediamint or Consumables Inc cancel the plans to get acquired by BCG? Who initiated the change in plans, was it BCG or the other parties?

-Why is there a lack of information on BCG’s subsidiaries like Frontier Data Management Inc (FDM), International Expressions Inc (IE), Dyomo, DreamAd Group, Max Interactive? Can you give more details about these companies like their employee count, products and tools used by them etc? We can hardly see their presence on the internet, like they don’t have websites or not present on platforms like LinkedIn etc. Are the employees of these companies under the parent company i.e. Brightcom Group or those subsidiaries have their own employees?

-How many direct and contract employees are there in BCG and its subsidiaries?

-You acquired AdDynamix, and later renamed it to Pennyweb Inc but after that there’s no information about that company. Can you please explain about this and also the structure of BCG’s subsidiaries?

-Can you provide details on what business Dyomo does?

-You raised money from FPIs to acquire companies like Mediamint etc but those plans have changed now. Are the FPIs okay with the company not acquiring any company? What was the use of raising the funds?

-What are the threats to the company from things like AI, ChatGPT, decentralized Internet etc? Have you made investments in these fields?

-You keep saying that you’ll improve communication with investors but we’ve hardly seen any improvement. The phone lines that you started for investors a few months back were good initially but now we’re not getting any response from the IR team.

-Why is it taking so much time to close the Lycos deal with DAUM? Many other companies have acquired or sold companies or made more deals in this time without any issue but this one issue is taking so many years to close. Is the management serious about this or will this have the same fate as your other acquisition plans, that is, canceled or changed at the last minute?

-You mentioned in the past about the bandwidth of the management getting stretched. We understand that your job is highly stressful and that you are putting your best efforts in running the company. Why don’t you hire experts who can help you in this? This will benefit the company and you personally.

-Why doesn’t BCG follow the model that other tech companies follow, like having a CTO, COO, etc? Hiring people suitable for those positions will take load off the management and bring more clarity on the operations of the company.

-Why doesn’t BCG sponsor events like Digiday Publishing Summit, Adexchanger Programmatic IO, MWC, DMEXCO etc? Even smaller companies sponsor events like these which will help them add more clients. (BCG participates in these but doesn’t sponsor)

-You had reported that the company had appointed EY as the internal auditor but as SEBI pointed out, that wasn’t the case. Can you please explain this?

-When will you start the JV with Consumables Inc? Is it put on hold or cancelled as haven’t received any information on this from the company?

To Mr.Peshwa Acharya

-We were excited when you came on board and were made the president of group strategy. We request you to use your expertise in helping the company achieve its true potential.

-Because of forensic audit, SHP and other issues, there’s a lot of negativity about the company. How will you address this and make the company more transparent and investor friendly?

-You and the CFO, Mr.Narayan Raju, were appointed by the board to close the Lycos deal but that is still not completed yet. Why is it taking so much time and what are the challenges? Other companies close deals like this without any issue but we are seeing this only in BCG.

-In the last call you said that you had spoken with a few analysts and institutions. What developments took place after that? Did they raise concerns about the company? Why don’t we see their active participation in the company? What plans do you have to onboard more institutions and fund houses?

[Logan]

@admin, these are my queries for the conference call. Please review once and send them to the IR.

To the CFO, Mr.Narayan Raju

Thank you for giving clarification on the recently published article about the company.

-When will you upload the audited results of other subsidiaries like Dream Ad Group, Max Interactive, Get Media etc?

-The auditor has commented that the Company is not regular in depositing undisputed statutory dues including TDS and Income Tax as applicable to it with the appropriate authorities. Can you please explain on this? The total amount is little over Rs.200 crores.

-What’s the update on Lycos deal with DAUM? What financial difficulties are you facing to close the deal? What is the settlement amount?

-We have requested the company multiple times to give more details on balance sheet items like other assets, other liabilities, other receivables etc in the annual report but the management has not taken that request seriously. It’s very hard for investors to know or understand what these items are and we can’t wait till the conference calls. We request you to take this seriously and provide detailed explanation on the many balance sheet items in the annual report. Everyone will refer the annual reports to know about the company’s business and financials and the annual reports should be very informative. If they’re not informative then it’ll lead to speculation and misinformation.

To Mr.Peshwa Acharya

-We were excited when you came on board and were made the president of group strategy. We request you to use your expertise in helping the company achieve its true potential.

-Because of forensic audit, SHP and other issues, there’s a lot of negativity about the company. How will you address this and make the company more transparent and investor friendly?

-You and the CFO, Mr.Narayan Raju, were appointed by the board to close the Lycos deal but that is still not completed yet. Why is it taking so much time and what are the challenges? Other companies close deals like this without any issue but we are seeing this only in BCG.

-In the last call you said that you had spoken with a few analysts and institutions. What developments took place after that? Did they raise concerns about the company? Why don’t we see their active participation in the company? What plans do you have to onboard more institutions and fund houses?

-Why doesn’t BCG sponsor events like Digiday Publishing Summit, Adexchanger Programmatic IO, MWC, DMEXCO etc? Even smaller companies sponsor events like these which will help them add more clients and attract talent. (BCG participates in these events but doesn’t sponsor)

To the CEO, Mr.Suresh Reddy.

We have trusted you and supported you through thick and thin and will continue to support but we feel we have been let down by the management because of the recent developments. We appreciate your efforts and hard work and request you to take the valuation of the company as seriously as you take the business. We wish you and everyone at the company the very best.

We request you not to skip any of the following queries as these queries have been prepared keeping all shareholders in mind. Addressing these queries will bring more clarity to shareholders.

-Did you reply to SEBI’s show cause notice (SCN) against the company? What developments have happened after the SCN? Did you appeal at the Securities Appellate Tribunal (SAT)? What potential actions will SEBI take against the company? Should we be worried about the future of the company?

-Why didn’t you report the correct shareholding of the promoters for years? Will you get back those shares which were sold by the lenders?

-You allotted warrants/shares on a preferential basis in 2020/2021 to many people at very low prices. These traders didn’t care about the company or its shareholders and they have made hundreds of crores of profits at the expense of retail shareholders who trusted you and the management by putting their hard earned money. Had they not dumped their shares, the stock price wouldn’t have been at these levels. Why did you give them such a huge quantity of shares?

-There are many lapses from the company’s side which SEBI has highlighted in the SCN. What actions have you taken to rectify those?

-Why did you give shares to the current auditors and then select them for the next 5 years? Won’t it cause a conflict of interest?

-What if SEBI bans you from being a director in a public company for 3 years and removes you from the posts of CEO and chairman? What plans do you have if that happens?

-Why don’t you consider buying back shares or doing ESOP? These steps will not only increase the morale of shareholders, but also decrease the huge supply that’s been created because of dumping by PW allottes and bonus shares.

-Giving shares to employees/management team (ESOP) will show that the company feels it has a good future and that the employees/management are committed to the company’s future and its growth. Why aren’t you considering this?

-Other companies have acquired or have plans to acquire companies without any issue but in BCG’s case, you always say that the acquisition is almost complete but change all the plans at the eleventh hour. Why does this trend repeat at BCG often? You said you wanted to acquire Mediamint but changed the plan later, same with the audio ad company, which was later changed to a JV (with Consumables Inc). Were you ever serious about both the acquisitions? We understand that acquiring companies is not that simple and sometimes the valuations won’t work out but why don’t you keep the information private and announce to the public, shareholders and the market only when you are sure that the acquisition will be complete? We had a lot of hopes on Mediamint and the audio ad acquisition deals as they would’ve brought a fresh change but now we are disappointed with the outcome of both the deals.

-Did forensic audit play a role in not acquiring Mediamint or audio assets of Consumables Inc? Or did Mediamint or Consumables Inc cancel the plans to get acquired by BCG? Who initiated the change in plans, was it BCG or the other parties?

-Why is there a lack of information on BCG’s subsidiaries like Frontier Data Management Inc (FDM), International Expressions Inc (IE), Dyomo, DreamAd Group, Max Interactive? Can you give more details about these companies, like their employee count, products and tools used by them etc? We can hardly see their presence on the internet, like they don’t have websites or not present on platforms like LinkedIn etc. Are the employees of these companies under the parent company i.e. Brightcom Group or those subsidiaries have their own employees?

-How many direct and contract employees are there in BCG and its subsidiaries?
-You acquired AdDynamix, and later renamed it to Pennyweb Inc but after that there’s no information about that company. Can you please explain about this and also the structure of BCG’s subsidiaries?

-Can you provide details on Dyomo’s business and the products used by the company?

-You raised money from FPIs to acquire companies like Mediamint etc but those plans have changed now. Are the FPIs okay with the company not making any acquisitions? What was the use of raising the funds?

-What are the threats to the company from things like AI, ChatGPT, decentralized Internet etc? Have you made investments in these fields?

-You keep saying that you’ll improve communication with investors but we’ve hardly seen any improvement. The phone lines that you started for investors a few months back were good initially but now we’re not getting any response from the IR team.

-Why is it taking so much time to close the Lycos deal with DAUM? Many other companies have acquired or sold companies or made more deals in this time without any issue but this one issue is taking so many years to close. Is the management serious about this or will this have the same fate as your other acquisition plans, that is, canceled or changed at the last minute?

-You mentioned in the past about the bandwidth of the management getting stretched. We understand that your job is highly stressful and that you are putting your best efforts in running the company. Why don’t you hire experts who can help you in this? This will benefit the company and you personally.

-Why doesn’t BCG follow the model that other tech companies follow, like having a CTO, COO, etc? Hiring people suitable for those positions will take load off the management and bring more clarity on the operations of the company.

-Why doesn’t BCG sponsor events like Digiday Publishing Summit, Adexchanger Programmatic IO, MWC, DMEXCO etc? Even smaller companies sponsor events like these which will help them add more clients. (BCG participates in these but doesn’t sponsor)
(Same query was asked to Mr.Peshwa Acharya also but we would appreciate if you share your thoughts on this)

-You had reported that the company had appointed EY as the internal auditor but as SEBI pointed out, that wasn’t the case. Can you please explain this?

-When will you start the JV with Consumables Inc? Is it put on hold or cancelled as we haven’t received any information on this from the company?

-Are there plans to start JV with other companies?

-In the recent update (press release) you have mentioned that appropriate announcements will be made when inorganic transactions are considered or consummated. Are there plans for inorganic acquisition?

-Though there was a good overall growth, the profits for this quarter compared to last year’s Q4 was almost flat, what is the reason for this? What level of growth rates should we expect in FY2023-24?

-Why was the dividend per share decreased compared to last year’s? It would’ve been better if you had paid less dividend last year and increased it this year instead of giving more last year and less this year.

[admin]

@Logan – Thank you so much for posting the questions. I have sent it to IR team just now.

[Logan]

To the CFO, Mr.Narayan Raju

-Is the audio ad business profitable? How much are the profits out of 60 crores revenue?

-When will you upload the audited results of other subsidiaries like Dream Ad Group, Max Interactive, Get Media etc and also the audited results of subsidiaries for FY2022-23?

-The auditor has commented that the Company is not regular in depositing undisputed statutory dues including TDS and Income Tax as applicable to it with the appropriate authorities. Can you please explain on this? The total amount is little over Rs.200 crores which is not a small amount.

To the CEO, Mr.Suresh Reddy and Mr.Peshwa Acharya

-When will you take the company’s valuation seriously? We feel that there’s no interest from you to improve the company’s perception and image in the market. The company’s valuation fell more than 90% and we feel that you aren’t concerned about that.

-Have you analyzed why BCG’s share price fell more than 90%? This is not the first time in BCG’s history where we have witnessed such an event. What remedial measures are you taking so that such cases don’t repeat again? There are many other companies with bigger problems which have share prices stable but in BCG, the stock price always react extremely. The business is stable and it’s better than ever but still the stock price is not only underperforming but crashing 80-90%.

-We always wait till the quarterly conference calls to get our queries answered from the management but from the last few calls you are taking only 2-3 questions from the shareholders. We understand that explaining business updates to shareholders is important but there are other equally important matters to be addressed by you to the shareholders. We request you to take more questions from shareholders in the conference calls.

-Why did the auditors resign in the middle of their term? And that too when the final result of the forensic audit is not out yet.

-How is auditor resigning in the middle of their term in the best interest of all the parties? (especially to the company as mentioned by you in the update)

-Whom will you appoint as the next auditor? How much time will it take?

-Why did the promoter group do contra trades during lock-in period? These type of activities not only impact negatively on you personally but will impact the company and its shareholders also. Already the perception of the company is negative because of the forensic audit and this will further bring more negativity.

-The company missed guidance numbers on revenue but did better on net profits. What is the reason for this and will you do as per guidance in the coming quarters? Can you give us the guidance on audio ad business and also on the standalone business?

-When will you complete the Audit Committee Review?

-Peer review of consolidated financial statements as directed by SEBI is still pending, when will this be done?

-In the recent investor presentation, you have mentioned that you might consider vertical integration by acquiring or partnering with companies in their industry supply chain. Can you please share your strategies and plans on this?

-Why won’t you consider buyback or ESOP trust buying from the open market? This not only will bring confidence to the shareholders but will also show that you are concerned about the company and the shareholders and that the management team believes that the company has good future.

-How did MediaMath’s bankruptcy impact Brightcom’s business?

-Why doesn’t BCG sponsor events like Digiday Publishing Summit, Adexchanger Programmatic IO, MWC, DMEXCO etc? Even smaller companies sponsor events like these which will help them add more clients and attract talent. (BCG participates in these events but doesn’t sponsor)

[admin]

Thanks @Logan. I have sent the questions to IR now.

[Logan]

These are my 1st set of queries for the conference call and the AGM, I will add more queries once they announce Q4 results. I might have missed adding few queries, I’ll review these once again today and send the updated list by EOD or tomorrow.

Thank you for organizing the conference call. We appreciate Mr.Raghunath, Mr.Kallol and the board for taking up the roles when the company is in trouble/crisis. We have prepared the following questions keeping all the shareholders in mind. We request you not to skip any of the questions and answer each and every question.

1.Please provide all we need to know about the Preferential Warrants/Shares topic. How much money did the company receive totally? If whatever SEBI says is true then how could the company betray shareholders like this? We trusted the company and the previous CEO Mr.Reddy a lot and had massive respect for him and we invested our hard earned money and part of our life savings because of that trust but seems like he took advantage of that and betrayed us and put the company and the shareholders in this bad position. The company lied to us that the people who were allotted stocks had paid the money. Those people were given stocks for free and dumped all those stocks as soon as their lock-in ended making thousands of crores of money (maybe more than 2-3k crores) whereas the small shareholders who bought the stocks in the company trusting the management/board have been made to go through hell from the past few years. We still haven’t recovered from last year’s shock and we are not seeing much progress from the company to address the issues. Still there’s no CEO, CFO and a CS and everyday we think the company might get delisted and we might lose all our hard earned money. How does the company justify these actions? How will you address SEBI’s observations?

2.We understand and respect Mr.Reddy’s role in growing and building the company and we have always appreciated that but how did the board let one person have so much control and give him free hand at everything? Why didn’t the board review basic checks? Why did the board leave everything in Mr.Reddy’s control?

3.As there’s talk in the market, it seems like everything was pre-planned. The company used the Mediamint and Audio Ad company acquisition news to attract small shareholders so that the people who were allotted stocks on preferential basis could dump their stocks to small retail shareholders. What is your comment on this observation?

4.How could the revenue and profits fall so much in last year’s 3rd quarter? A company making 1,800 crores the previous quarter made only 450 crores in the next quarter. You have said the reasons for that are the removal of the CEO and the war is Israel. We can understand the impact of the war but how did a tech company which has been in business for 25 years have all the dependency on one person and doesn’t have proper plans to protect the business when things like war happen? Being a multinational company with operations in many countries weren’t there proper back-ups? In the last few calls we asked the previous CEO of this very point i.e. what if he had to leave due to various reasons (including getting banned from being a director in BCG) and he had told us that the company had full plans in place if he were to leave and that nothing would impact the operations of the company (this was said in FY 23 Q4 conference call). How can the revenue fall suddenly and that too by so much? It’s hard to believe that a billion dollar revenue company relied on one person all these years and there were no reviews and checks to have less dependency on that person. What happened to all the plans which the company had if the CEO were to leave?

5.Why did the previous CEO gives stocks in the company to people who gave him personal loans? Isn’t this a betrayal of trust and doesn’t it look like he took shareholders and their hard earned money for granted? We also asked him about the PW allottees selling their stocks as soon as the lock-in ended and to that he had told us that he or the company doesn’t know anything about it but it’s very clear to us that he was involved with them from day one and knew everything about them selling.

6.Why isn’t there a progress happening on appointing people for the vacant and necessary roles? Are you waiting for the previous CEO and CFO to come back?

7.We never doubted the numbers of the company previously but after the SCN2 and the Q3 results, we are starting to have doubts. If everything was alright then why did previous executive director/promoter Mr.Vijay Kancharla dump almost all his stocks? Didn’t he see that the company he built had good future? If everything was alright then why did all the PW allottees dump all their stocks without even holding a single stock if the future of the company is bright? A company making thousands of crores in revenue couldn’t afford to pay back loans taken from various people and had to give stocks instead? Please share your comments on this.

8.How many employees are there in the company? How many are direct and how many are contract employees? How many are in each subsidiary? Why don’t we see about the employees on sites like LinkedIn etc?

9.What are your plans for reviving the business of the company and to have less dependency on the Israel team?

10.Why was the brand name of BCG’s products changed from Brightcom to OMS? Did SEBI’s order play a role?

11.What is the current progress on the JV with Consumables Inc? Is the JV dead?

12.Why isn’t the board appointing a top 4 auditor or one of the reputed auditors?

13.Small adtech companies show their products and sponsor many events but why doesn’t BCG (or its subsidiaries) do that? BCG has more revenues than companies like Magnite, Pubmatic etc but why doesn’t the company sponsor events? Won’t this bring extra business and revenues? Is this company’s strategy and that you want the company to be under the radar? Please explain the company’s strategy.

14.Why was Trenova started when you already have Brightcom and OMS brands? You’ve mentioned that Trenova will focus more on Europe and Asia. Doesn’t the company already have good business in Europe?

[Logan]

@admin, please send the above questions to the company for both – the AGM and the conference call. If they miss addressing these in the AGM then they should at least address these in the conference call.

If you don’t mind please send it today and also send it on Thursday so that the management will not forget about it. If we send only today then they might not pick these for Friday call. I’ll add more questions once they share the Q4 results.

[Saach]

@admin, Thank you so much for your prompt and quick action. It is a great step towards the efforts of every member of the form, in true words, appreciate it. Warmest regards

[Author]

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