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buffetRegistered Boarder
@logicalspeak I wish the same. So many hanging swords over our company like multiple litigations, debt, pledged shares,huge write-offs, daum & mainly lack of investor community trust. Not sure how long it would take to come out of these dark clouds. SKR may be gr8 product manager, but when it comes to market he seems newbie. All his efforts looks petty however sincerely he is doing.
This time we had gr8 rally & momentum. Oak selling in open market & big write-off came as shocker. It gave operators readymade fuel to lit the fire. If SKR wants, he can file defamation cases against these miscreants & bring them to knees. Even publicly announcing legal proceedings would deter many.
2+buffetRegistered BoarderLets tag moneycontrol CEO as well with mmb support ticket details & explain how operators are using mmb board to manage perceptions & price. Ultimately retailers are getting impacted everywhr.
Ask is very simple.
– The mmb should not hide the msgs unless proved really offensive thr their review process. Currently, it’s opposite. Msgs are hidden immediately when marked offensive.2+buffetRegistered Boarder@rathi, I concur. It’s really saddening that some people are controlling the price movements up/down at will.Some mmb users are spreading lies / rumours to control the price movement since last 5 years. Something needs to be done. I am not sure what/how. @saul, @headstead @admin plz enlighten us.
buffetRegistered BoarderSummary of conf call as I understood. Please add/update as appropriate.
LOC: In the conf call, SKR mentioned that the LOC has been approved in principle but creditor due diligence is in progress. LOC would outright impact the topline by 25-30% with the current in-place resources & processes.
BCG Israel subsidiary: E&Y is auditing the same. Constitutes 38-40% of overall revenue. This is an answer to naysayers doubting BCG numbers.
Daum settlement: It’s done deal. SKR wants to conclude the same F2F, in the presence of lawyers. In principle, there is agreement between two parties on the final settlement. But having the trust deficit between involved parties which is understandable given the Daum’s past backtracking. @ the time of signing the deal, the first installment would be given from reserved funds. Subsequent installments may be given from cashflow and/or LOC.
The business impact of COVID: Huge surge in traffic observed & will have a positive impact on business in subsequent quarters.
Edgecase initiative: Currently BCG has not invested in Edgecase. But has an agreement in place to get stake when certain conditions/milestones are met.
AI/ML: BCG is working on different AI/ML initiatives in healthcare, Agri & DM segments.
Axis loan: Axis is asking 20 cr. As per BCG, it’s 8 cr. The settlement discussions are actively going on. SBI & Canara bank loans are settled.
buffetRegistered Boarderis conf call going on? .. unable to hear anything? Also unable to re-dial…
6+buffetRegistered Boarder@allenasrini … No PIN required.
1+buffetRegistered BoarderWelcome, @headstead! Thank you for joining this forum. Your presence will bring lots of positivity.
1+buffetRegistered BoarderConf call details & dial-in numbers:
Brightcom Group Limited Investor conference call
Date: 02/07/2020.
Start Time: 17:00 Hrs IST (Indian Standard Time)INDIA ACCESS NUMBERS
Access Number 1:1800 103 3881
Access Number 2:044 7126 1301More details @ – http://brightcomgroup.com/investors/
buffetRegistered BoarderToday also no update on impairment. Ideally, he should have included the details in the annual report itself. Even he could have postponed the results to buy some time. Not sure why management is acting like a newbie.
buffetRegistered BoarderQuestion w.r.t. edgecase.ai.
Has bcg/lycos invested in the initiative?
Nature of the partnership.
buffetRegistered BoarderAs per recent update on 868 cr writeoff, I am hoping some clarification before conference call. It’s shocker. Nowhr SKR mentioned about any asset under distress. I suspect BDO may have forced/advised w.r.t. the same – “Certain legacy items on the balance sheet, across all subsidiaries have been
impaired, in view of projecting a healthier overall balance sheet going forward.
We will send out a detailed note to clarify further.”Nevertheless, they should have explained reasons about write-off in annual report itself.
Resolution of Daum issue digitally is very much possible. Not sure why SKR need to travel in the first place. Reliance recently raised billions thr digital means.
2+buffetRegistered Boarder@max the recent update says
“Certain legacy items on the balance sheet, across all subsidiaries, have been
impaired, in view of projecting a healthier overall balance sheet going forward.
We will send out a detailed note to clarify further.”Hence it’s not just lycos; spread across subsidiaries. We will get more updates in conf call on Monday.
1+buffetRegistered BoarderThis one seems interesting initiative – Proud to share our new B-Local exchange! We’re offering advertisers an alternative to the “faceless masses” of a broad programmatic approach, by reincorporating brands into a community. This has been a very effective tool to improve business. Philadelphia Magazine, boston.com, The Seattle Times, Boston Globe, The Salt Lake Tribune are some of the media houses already signed on.
Publishers online are seeing huge spikes in traffic. This could have a huge impact on June-20 quarter results.
Let’s see the positive side.
buffetRegistered BoarderAnother update on BSE.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/9d13f581-5257-48f9-9c3b-4455d32644f3.pdf
BUSINESS AND CORPORATE UPDATE
– Effectively managed the transition to “Work From Home” (WFH) for employees
working across India, Israel, Serbia and Argentina very effectively. Employees at
other locations were already mobile to begin with and did not need much
transition planning.
– Successful issue of preferential shares.
– Global Audit of 12 subsidiaries by NY based Global Auditor is ongoing. That audit
is geared towards helping improve the working capital needs of the company.
– Certain legacy items on the balance sheet, across all subsidiaries have been
impaired, in view of projecting a healthier overall balance sheet going forward.
We will send out a detailed note to clarify further.
– Discussion on the LYCOS settlement was delayed due to COVID19 pandemic
and inability to travel.
– Closed out Canara Bank loan in last financial year. Next in line is the loan with
Axis Bank.
– DigiDay at Dubrovnik, Croatia and Mobile World conference in Spain were both
cancelled due to COVID19. However, the teams were able to conduct scheduled
meetings virtually.
TECHNOLOGY UPDATE
– Best 72 SSP list of eDigital for the year 2020.
– Publishers online are seeing huge spikes in trafc.
– Proud to share our new B-Local exchange! We’re ofering advertisers an
alternative to the “faceless masses” of a broad programmatic approach, by reincorporating brands into a community. This has been a very efective tool to
improve business. Philadelphia Magazine, boston.com, The Seattle Times, Boston
Globe, The Salt Lake Tribune are some of the media houses already signed on.
CONFERENCECALL DETAILS:
Brightcom will host a conference call on 1st July, 2020, at 4.00 pm Indian Standard
Time to discuss the financial results. Call-in details will be available from the
Investor Relations page of the company’s websitebuffetRegistered BoarderGuys,
Results are out on bse. Dividend: Rs. 0.05/share
https://www.bseindia.com/corporates/anndet_new.aspx?newsid=de616a97-e5fa-4b29-97bd-5e9a0aee9561
2+buffetRegistered BoarderAny idea when results will come out today? All the best to every1. Hope bumper results, atleast 20% dividend & updates on open issues.
One query- I believe BCG won’t need to pay dividend distribution tax. Last year DDT have been abolished. Am I missing something w.r.t. DDT?
1+buffetRegistered BoarderOne query – the results will be audited by whom – BDO or existing auditor? As I remember, BDO will audit the 2019 yearend results.
0buffetRegistered BoarderIt is listed as bulk deal means sold in open market as I understand. Does this mean oak is selling in open market like other VCs did earlier? Plz correct if I am wrong 😔
0buffetRegistered BoarderCheers guys! Even with heavy volume, it seems UC will sustain. ~4 million volume traded in the first 45 minutes. Consolidation is happening. Cautiously optimistic!
Winter is coming for OPERATORS!!
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