[Rathi_b]

I see your larger point here @Logan and I also agree with @akki and @ved. The email ids of the compliance officer, CFO and SKR are available on the website, let’s all write a mail individually asking for the call from the management. Please ask that the call should be in the lines of May 2019 where 120 minutes were allotted and all the questions asked were patiently answered. Please let’s also prepare and send the questions that we want answered by the management and asking them not present opaque answers, but to give answers that actually show their intent. I hope all the members will write the mail to the management in this regard because if all of us ask, they just can’t choose to turn their face the other way. We all have our aspirations and goals of financial freedom attached to brightcom I request all the members to write a mail in this regard. Please also involve the people from telegram and other social media to drive this point home.

[Rathi_b]

Hi all, we the Hyderabad group agree with the suggestions that we need to have a call with SKR before we take any other steps. Having said that we believe this time we can should have some more knowledgeable long-term investors In this call. But we cannot add a lot of people in this meeting for obvious reasons so we suggest restricting the numbers to three more people that everyone agrees with. Please suggest who you think these three new people should be and we can then try to work with the management to get us a meeting with the new set of people that are nominated.It’s heart breaking for us to see the price fall to where it is right now and please nominate by the end of the day because the sooner we can come to an agreement amongst ourselves on the forum,the earlier we will set into motion the necessary steps required to arrange the call.

[Rathi_b]

Hello everyone, we Hyderabad investors held a meeting with the CEO Suresh Kumar Reddy (SKR) to discuss the various issues related to the stock price. The meeting was long and eventful through which a lot of points were thoroughly discussed.

Dividend to the Parent

Firstly we were informed that the five crore dividend that had to come to the parent company from the subsidiaries has been received. The company is working towards getting this every quarter. We did ask specifically if this money could be used to pay a dividend to shareholders, and SKR agreed.

Brightcom Audio USA

We then spoke about the JV and how it is progressing. We were informed that the hiring for it is happening at a brisk pace, that the website is already up and in a few weeks the business would be up and running. SKR informed us that he is pleased with the JV partner and their ability to create business opportunities and hopes to see it as a value generator very soon. We asked if any money would be invested in the JV, and he assured us that investments are being made as and when necessary.

Early Dividend

We then proceeded to ask if the management could consider an early dividend to improve the sentiment around the company in the market. To this, SKR told us that he would consider our suggestion.

Audited reports of the Subsidiaries

We then asked why the audit report of the subsidiaries had pages that we could not access online. To this, SKR informed us that the organisation chose to mask the pages with financials due to business and legal constraints. We couldn’t personally go through the reports, but we to do the same shortly.

Daum

Then we asked why the Daum settlement was taking so much time. To this, SKR informed us that a specific team had been set up to settle Daum. And he told us that he would further focus on completing it as soon as possible.

Cash with the company

We asked about the cash the company has that it raised from the market. To this, we were assured that the money is being put to good use and that the recent quarterly results reflect that.

Issues with the Regulator

We then proceeded to ask about the company’s issues with the regulator and how it is dealing with them. SKR informed us that the company is fully cooperating with the regulator and is hopeful of a favourable outcome soon.

Dec 5 and 6 troubles of investors

One of the investors in the meeting spoke to SKR regarding the shares with the holding of Dec 5th and 6th. To this SKR empathised with us and told us that the management or the company has nothing to do with it and that they would support the investors as and when needed.

Finally, SKR conveyed to us to be patient in these trying times and that the stock price of the company will start reflecting the value in line with the performance of the business; once the outstanding issues get resolved by one by one.

[Rathi_b]

No @odysee we are still awaiting a reply from the management. We are pursuing them and we expect a reply from them.

[Rathi_b]

Hello members, we have requested a follow up to the last meeting that we had with the management in December to further discuss if any progress was made regarding SHP, FA and daum closure amongst others. We have already communicated to the IR regarding our request for a meeting with the management, we hope to get a positive reply soon. I know many of you are concerned and have asked me to give a better gist of our meeting with SKR, we Hyderabad members would really wish to do too, but we are bound to the sensitive nature of the issue and also the larger scrutiny by market regulators. We have to thread a very thin line in what could be said and what can be written. I’m sorry and humbly apologize if our last update did not meet your expectations but please understand where I am coming from. We will update the forum when we receive a reply from the IR and management.

[Rathi_b]

Yes we had discussed about those aspects and we were informed that they are at various stages of getting solved. The company is making efforts to get all its issues with the market regulator sorted.SKR has assured us that daum and audio acquisition will also be completed.

[Rathi_b]

Thank you all for bearing with us, we had to move our meeting with SKR to today as he was travelling internationally last week and we have had a long chat concerning many of us investor concerns, we have left the premises with a feeling of confidence that Brightcom is dealing with all the aspects in the most effective way it can.
It was pleasing to see all the new hires in the office. And SKR is very optimistic about the business right now and the growth prospects it throws up in future.

[Rathi_b]

Suresh garu has kindly agreed to meet us next week he is unavailable to meet us this week as he is travelling. In the meantime please send us all the questions that you would like for us to ask SR and get more information on.

[Rathi_b]

My apologies to all the members, I chose not to write since our last meet with the management because it was understood that our grievances would taken seriously by the management and addressed. In that extent the initiative to start a separate phone line for investors and management decisions to initiate completion of daum and audio acquisition payments were done. But now we are again in the predicament of never ending timelines. I understand that FA is not in the hands of the management but other initiatives are certainly in their ambit. The shareholding pattern has and will always elicit a diplomatic answer from Suresh garu, there is nothing much we can help with that question, but I guess it is now time to speak to the management and put pressure to make relevant and necessary disclosures and not present a glossy piece of information who as investors we are already in the know how of. We are planning for an immediate meeting with the management by this weekend as we expect Suresh garu to be in the city for the conference. We will ask questions that have been raised by @Logan, Mr. Praveen and others here and the telegram channel to the management and try putting some pressure from the investors end. We have already sent a mail requesting for a meeting to the relevant people in BCG. I know and I completely understand with many of your concerns, frustration and anger with the diplomatic nature of the updates I write after meeting the management but please understand that our goal is to initiate a conversation, put pressure on the management regarding us investors greivances and nudge them to solve and address our concerns.If any of you have any questions that needs to be raised please let us know.

[Rathi_b]

Yesterday, as representatives of this forum, we, the investors from Hyderabad, held a meeting with the CEO, Suresh Kumar Reddy. The following are the points that were discussed in our meeting with him

1. Appointment of CFO and CS.

Mr Suresh has assured us that the appointment of a CFO is his top priority and that filling that important position is in the final stages. He told us that YSR garu had been with the company for a very long time and that replacing him with someone who can fill his boots has been an arduous task and that now it is in its final stages. He told us that YSR garu is still advising the company in his personal capacity. He has reassured us that the CS appointment will also be made on priority.

2. Mediamint acquisition and its completion.

Suresh informed us that the acquisition has not yet closed and that a notification will be sent to the market as and when there is an update on it.

3. ESOP

We had mentioned to Suresh garu regarding the exercising of this option at this appropriate time. He has told us that this is being looked into as an option as well.

4. Audio acquisition

He informed us that this is not signed yet and has assured us that the company will notify the exchanges when there is an update.

5. Shareholding misunderstandings

Here Suresh garu has strongly stressed and assured us regarding his resolve and commitment to the company and that the company will make the appropriate submissions to the Exchanges and the Regulator.

6. Forensic Audit

Suresh garu reiterated his stand that there have been no irregularities and that they are fully cooperating with the authorities. He rejected and denied any baseless rumours in this regard, and its best to wait for the final report.

7. Stock price fall in the market.

We had strongly put forth our point regarding this aspect to the CEO and asked if he is doing anything to address this fall in share price. Suresh garu has assured that this temporary setback would be abated in the near future and that the company is constantly working to increase the shareholder’s value. He assured us that the situation will get better as and when some of the above updates are sent to the exchanges.
Here he reminded us that large fund houses like the kind that had been shared to the exchanges recently have been buying into the company and has urged the long-term shareholders who have been part of the journey through thick and thin not to get rattled and stay invested.

8. Free cash flow clarification

Mr. Suresh mentioned to us that a document to clarify the details is ready and will be published by the management shortly.

9. Daum

Suresh garu has assured us negotiations in this regard are being held by the company and that a relavant update as and when necessary will be sent to the exchanges.

Finally, Suresh garu also mentioned that the company is in a tremendous phase of growth where the revenues have increased by over 75% in the last year. The company is targeting further growth this year and meeting the revenue projection for the current year. He reiterated his commitment to the retail shareholders and announced the bonus issue and dividend to reward them.

[Rathi_b]

We had a meeting with SKR today. Please bear with me, I’ll post the write up of our conversation tomorrow. I’m attending to an emergency right now.

[Rathi_b]

Meeting with SKR has been scheduled for Saturday. Any questions that you people want ask, please post it here. We, along with all other issues will take it up with him at the meeting.

[Rathi_b]

@JRS I’m searching for the answers myself. Yes it’s obvious that such huge dilution cannot be made to happen unless the CEO gets a good share of the pie. It’s naturally understandable. But now my focus is on getting updates regarding LOC. Since the start of our interaction with SKR axis has been settled. He then got the PW done for himself. Now the other issues LOC and Daum are pending. We are focussing on those issues. My only concern is the events we are looking for are getting done slowly at a snail’s pace one after the other. But the price movement is not really encouraging. We will update from Hyderabad once we get a clarity. But right now with dire situation outside we are really helpless.

[Rathi_b]

Dear members most of the offices in hitech City, Madhapur and Miyapur are closed due to increase in covid cases, the offices have been shut till first week of April now. It looks that the meeting is likely to happen at the earliest in the second week of April. Apologies, but there is not much we can do. We are still trying our best.

[Rathi_b]

@anirudhreddy , we agree with your views here. Pls can you share your contact details so we can connect?

[Rathi_b]

16th Tuesday

[Rathi_b]

Eventually

[Rathi_b]

Speculation is the name of the game and we are playing it. So if you get played take it to your chin and move on. Don’t be happy that you have nailed it by exposing someone, be so when you get out with a good profit. I can rant long about members here but I know nothing is going to have a bearing on the stock price. In principle Approval of PW by exchanges will. It will bring liquidity and be back bone for further growth. LOC will further enhance the capability of business and lastly closure of Daum will bring most of the lost credibility and respect back. I am not concerned about dilution, some understanding regarding the business potential will make you all understand that after a year the effect of it on PE would be negligible. We should put pressure on the company to improve its commitment and communication with us. How long now will it be kept subdued? 3 or 6 months until issues get resolved. After that eventually the lid will be open. I’ve been here long enough to be patient for that to happen and if gives any immediate gratification or high or some sort of happiness in chest thumping in making unnecessary speculation, great enjoy. All we can do now is to wait and pray of some word on PW and then anything can be done. It is in their best interest and if this is the final nail in the coffin be happy because the great bull run is on its way after that. Liquidity in the market is a fraction of what it was in December or early January so not much selling is happening, everyone is waiting for the PW approval. Axis was never a bankrupting debt to the company where as the humongous dilution is still a concern to many. People will buy after a final word on it, as the “genuine” selling has now come down. I am not against anyone here and hope you people will maintain the sanctity and decorum in your expression in that regard. Just writing with the privilege that I had met the CEO a few times and yes still the price is languishing, so I will take it to my chin and wait for my day to write “Manipulations are over, good riddance”.

[Rathi_b]

Even in the case of mid term scenario it is in their hands to decide what they want the price to be. I sincerely hope that warrants is their endgame. All I want is for us, who have still not been swept away by the waves of misinformation and misrepresentations is to finally see our expectation’s worth. I am waiting for a final word on warrants after that we need to move afresh with the next plan of action. I am not a Pessimist but I’m just being realistic about the limbo we are in.

[Rathi_b]

@jay69 hopefully it gets done.

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