[108BULLGURU]

“But who knows how many companies he ( BCG ) actually owns… as for Brightcom Israel, they are independent.”
SKR is on record last conf call in very clear terms that BRIGTCOM ISRAEL is fyully owned 100% by a subsidiary of BCG. Brightcom Israel is a brand in Israel and not a company in itself,. company that owns Brightcom iSRAEL is a different company.

[sateanna]

Just to put things in perspective. BCG india is 1/20th of the total BCG group in terms of turnover. So our fate depends on its foreign subsidiaries. What a tragedy…

[acerforce]

From the last conf. call —- see the person asked for why financial statements of subsidaries are not uploaded.. SKR confused him with Daum case, dont upload the financial statement of one subsidiary which owns Lycos, but what about other 100s subsidaries owned?

Question from Audience —
Sir, most of my questions are answered, but I have 2, 3 doubts. Last time when I spoke to you, you said that this subsidiary financial statements audited will be on the website within 1 month, but it’s still not there. May I ask you why?
——————————————————————————–
Muthukuru Suresh Kumar Reddy, Brightcom Group Limited – Founder, Chairman, CEO & MD [3]
——————————————————————————–
There was — I mean, this will be — I actually did not update you on the Daum. This is a good opportunity on trying to update you on the Daum settlement. See, what is happening is we have been talking to Daum, which is now Kakao, who were the seller of Lycos Inc. And we have verbally and in a draft level a settlement that’s already in place.
Now what is pending here is we need to close that. We need to actually fulfill that, for which the cash flows have not been full clear. And since this is not yet being done, so we were advised to hold off on uploading this till that legal dispute is settled. And that’s the reason it is being stopped. The moment it is done — so my instruction to the team was to upload exactly what we suggested, but then there was a legal point of view that was taken and said we will wait till the settlement is done. So that was the call we took and we did not upload.

[Tanv151]

Fair question raised by Acerforce Ji.. I had a quick look at the Avanthi Feeds June 2019 results and below were my observations:

1 – AVanthi is audited by ‘Tukaram & Co Llp and not by any of the big fours, just like BCG
2 – All the numbers published by AF were unaudited, just like BCG
3 – Financials of AF’s subsidiaries were consolidated by auditors as provided by the management and auditors did not review these numbers, just like BCG

So if Avanthi could become a multibagger and I don’t see why BCG cannot be one, of course unless they close the issues at hand.

Speaking of getting one of the big fours, if you heard SKR he didn’t specify we will get one of them, he just said a renowned auditor from New York. Deloitte is the only big four audit firm based in NY. While there is reason to be frustrated for the delay in implementing all the actions he talked about, I don’t see any reason to doubt the numbers for now.

I am sure you all heard him say about 40% of the business is audited by E&Y, if these subsidiaries are fictitious, what is E&Y auditing? On consolidation, he mentioned it could take 3 months, and we have one month remaining considering the timing of last conference call.

[acerforce]

One thing, can anybody show me a website link from an overseas company to Brightcom Group?

anycompany ->> linked with ->> brightcom group

Like in About us page, they mention they belong to a bigger group.. here any company ( supposedly a subsidiary ) telling they are part of Brightcom group..

[108BULLGURU]

Hi Acerforce,
Thanks for reminding us all about this.
It all makes sense why BCG is not up;loading that info because trhey dont want to give unnecessary info to Daum to benefit them.
So it gives me more confidence in believing that nmbers may be fine and SKR is trying to protect the interests of the sharehoilders.
He does not have to provide these details to Daum as these companies did not buyLy cos. wink wink. do U get the point.
So he is under advice not to provide this info..
Load up freinds load up as much as U can.
Some long term investors suspect that numbers and actual position may be far better than what is known or declared.
WOW.

[acerforce]

Tanvi151 ji,

Avanti feeds standalone EPS was 7.7 and consolidated was 8.71, so just 1 Rs is from other subsidiaries, do this comparison with Brightcomgroup and see how much % of Earnings are from Standalone business, then you would know why market trusts Avanti more than BCG

[108BULLGURU]

AGREED.
But,
here is the point.
Hi Acerforce,
Thanks for reminding us all about this.
It all makes sense why BCG is not up;loading that info because trhey dont want to give unnecessary info to Daum to benefit them.
So it gives me more confidence in believing that nmbers may be fine and SKR is trying to protect the interests of the sharehoilders.
He does not have to provide these details to Daum as these companies did not buyLy cos. wink wink. do U get the point.
So he is under advice not to provide this info..
Load up freinds load up as much as U can.
Some long term investors suspect that numbers and actual position may be far better than what is known or declared.
WOW.

[acerforce]

Bullguru ji, it could be a point, if it is, then its very good.. but we dont know whether to believe SKR or not..

[Lycos_Investor]

Can anyone make a sense of this “Global Media group, consisting of four separate companies” from the below link.

Jacob (Kobi) Nizri

[Lycos_Investor]

One thing for sure, subsidaries do exist, As the Ybrant LATAM subsidary is mentioned in the Indian embassy website as Indian companies in Argentia.

[Shoumik]

Great observations Tanv151 , really appreciate your efforts. Things will get clearer as the days goes by.

Have wondered on many occasions why all others except we , The Retail guys earn money in the stock market.

Have a notion that many biggies, the whoes who of the stock market are already in , along with us but are keeping it in unknown names.

If there is any candidate in our market to become the next Super Multibagger, there is NO BETTER STOCK THAN BRIGHTCOM who can occupy the no. 1 Position on the podium.

Keep the faith and the patience.
We shall win together . No doubt about it.

Cheers.

[acerforce]

Lycos_Investor
this link – “positive Mobile” is missing the “logo”, seems like an old website not used anymore..

[acerforce]

Brightcom claims to be headquartered in Tel Aviv – what does it mean?

[108BULLGURU]

The fully ownbed subsidiary of BCG that owns BRIGHTCOM israel brand is owned by the company thta is in Tel Aviv.SKR i think even told the name of the company that owns the brightcom israel

[108BULLGURU]

Hi every one,
All this ewill be made clear and become public only AFTER DAUM IS SIGNED AND SEALED.
That is the only reason in my opinion that things keep getting delayed in term of actions to us on all other matters where as they may already be near complete.
Think about it.
If U were a company with 3200 crore net assetts and Daum wanted it all what will U do???
Wink wink wink.

[acerforce]

Online Media Solutions – owns Brightcom, I am trying to find a link from Overseas company to Brightcomgroup

[Lycos_Investor]

One thing for sure, things are more complicated on the subsidaries. SRK went for inorganic growth by acquiring lot of companies but didnt plan the integration into the parent company properly.

[108BULLGURU]

Hi every one,
All this ewill be made clear and become public only AFTER DAUM IS SIGNED AND SEALED.
That is the only reason in my opinion that things keep getting delayed in term of actions to us on all other matters where as they may already be near complete.
Think about it.
If U were a company with 3200 crore net assetts and Daum wanted it all what will U do???
Wink wink wink.
BCG kay galay ki haddi hai DAUM/LYCOS settlement.
when signed sealed and paid.
rocket will be fired…

[T9C]

@acerforce,
Check subsidiaries of BCG, you will find Online media solutions

[Author]

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