Logan

Forum Replies Created

Viewing 20 posts - 1 through 20 (of 752 total)
  • Author
    Posts
  • in reply to: General Discussion #22307
    Logan
    Registered Boarder

    We are pleased to present the Silver Sponsor for #TGS2022 – Brightcom Group, a Fortune 500 India company, with a robust global presence in AdTech & Digital Media, with offices in 25 locations including the US, Israel, Latin America ME, Western Europe & the Asia Pacific regions.

    in reply to: General Discussion #22302
    Logan
    Registered Boarder

    It’s good that BCG’s management finally understood the importance of explaining their business and future plans to everyone. Like this they should also try to give complete details of a few items in the balance sheet. BCG’s management doesn’t understand how important that is.

    I think most of you must have read this, earlier this year there was an article in et prime in which they discussed a few topics related to BCG. Main focus was on receivables, and loans and advances. The lady that wrote the article didn’t properly know about what constitutes loans and advances of BCG so she assumed it generally and wrote that they are the general loans and advances which are given to people so that you earn an interest. It’s nowhere close to what BCG does but it’s also not completely her fault because the company hasn’t provided a detailed explanation of those items. But she should’ve done some research at least and should’ve checked what those loans and advances were (she looks like a newbie who wanted to write an article for the sake of it)

    Here’s what she wrote in that article

    This metric falls under non-current assets in the balance sheet. As the name suggests, it is the loans or advances given to receive them in the future with interest. This number stands at INR720 crore for Brightcom for FY21, which is almost 20% of its total assets.”

    And then she wrote about receivables of different industries like Pharma, IT etc but never mentioned the adtech industry where some companies have receivables more than their revenues. This is the problem when you let newbies write important articles.

    BCG and its subsidiaries don’t give loans or advances to get an interest but they do to buy media space or to invest in a product etc. BCG is not some financial company but is a tech company.

    The CFO, and the CEO have explained these in a few conference calls and they’ve also explained them in the impairment notification but that’s it, they haven’t mentioned the same in any of the annual reports. Even after asking for it repeatedly in almost every conference call they have ignored our request.

    How many current investors/potential investors/analysts will wait for the conference call to know about this information? Will anyone search each and every notification by the company to get that one document? If any person wants to know more about the company then that person will always look for information in the annual reports. So if all the details are given in the annual report then et prime or other websites won’t write something based on their assumptions which would bring less speculation.

    These details can be filled in just one sheet under the notes section but the management is too lazy, I’m sorry, too ignorant or careless to provide those details.

    In the balance sheet there are many items like other assets, other receivables, other liabilities etc etc which when people see won’t have a clue as to what they are. If you don’t attend conference calls then you’ll find it very hard to get that information.

    I request each and every investor to write mails to the company asking them to give detailed explanation of the balance sheet items in the annual reports. Let us flood their inbox with these messages and make them understand how important this is. I’ve asked about this in almost all the conference calls but they kept ignoring it. I’ve stopped asking because every time I look like an idiot asking the same question again and again.

    You won’t get a decent PE unless you put in the effort. Companies with uncertain futures, bigger problems and lesser profits are trading at higher valuations than BCG.

    in reply to: General Discussion #21233
    Logan
    Registered Boarder

    High P/E ratio (excluding cyclicals) doesn’t depend only on high growth but also on how much trust, certainty and expectations the market has on a company. Private banks have higher PE ratios than PSBs and a company like Affle has a very high PE ratio because of the Microsoft factor (and Economic Times too).

    TTD has a better PE than most of the other adtech companies because of its past performance which makes people think, compared to the others, uncertainty in TTD is less. Criteo was once valued more than all the other adtech companies combined but it couldn’t live up to the expectations so it crashed and could not replicate it’s past performance. Magnite was trading above $60 last year but it fell below $6 this because of uncertainty.

    Both these companies have high potential but are not having premium valuation because they also carry uncertainty.

    If the managements of companies don’t clear the past issues then the market will not forget the past so easily and if the managements clear all the issues and brings more certainty and more importantly if the trust factor improves then the market will not hesitate to give a premium valuation.

    When it comes to BCG, right now the trust factor is low. Maybe it’s because of FA or because of the SHP or other things (like Lycos). For Sun Pharma the news of FA and fines given to their management/promoters didn’t matter as that is a large company. I think no one remembers about that now but for smaller companies something like FA will be the main highlight.

    BCG has high growth but there’s a deficit in other areas like trust, certainty and to an extent expectations. What I sense is that BCG’s management is focusing more on growth and less on other areas.

    Building trust is like maintaining your health, there’s no shortcut, you have to exercise, do yoga, eat balanced diet, be more active etc. BCG’s health was not normal to begin with, it had two big incidents in the past (loans and Lycos) and one is done and dusted but just when the other issue was about to be closed there came another issue which is the FA.

    It’s like a player who plays really well but gets injured often. You don’t pay high for that player because you can’t count on him all the time and that’s exactly how the market feels about BCG.

    in reply to: General Discussion #18994
    Logan
    Registered Boarder

    What I felt is that the management wanted everyone (including current investors/the market/analysts/potential investors) to understand the company’s business and operations better and I guess that’s the reason Mr.Acharya talked so long about the business. For various reasons (including management’s fault), BCG has been misunderstood all these years and the situation still continues and I think the management wanted that to change. The stock has always been valued based on events more than the business. When Lycos case happened it brought so much uncertainty that people thought the parent company went bankrupt (when it was actually a subsidiary that was holding Lycos declared bankruptcy to buy time) and all the negativity started since then.

    Even the last 1.5-2 years we can see how events have influenced more than the actual growth in the business (and improved cash flows). The stock started moving up when Axis case was closed and when BCG announced plans to issue bonus shares and then it stayed in a range till we got to know that Mr.Shankar Sharma was investing in the company and then it went up after Mediamint deal was announced and then it crashed because of the FA news and rallied again based on other event which was Mr.Sharma paying the remaining amount and converting his warrants to shares during the peak of the FA crash and crashed when the second bonus was delayed which brought huge negative press and when it was issued the stock crashed again because of more supply.

    The company is growing with good growth rates and improving it’s cash flows (paid total dividend of 60crs which is more than what many companies make in a year), but still the stock is not performing well. These are operational performances and not events. For the better future of the company and for investors to sleep peacefully at night, the stock should always be valued based on business parameters and less on events and the management should focus on doing that. This will happen when the management talks more with analysts and focus more on the valuation side of things. What I can see or sense is that now their focus is more on growth and capturing market share and less on valuation. Some investors may not like it and others might be okay with it.

    Also important point to note is that all the investors (including us) have made it clear that we are not happy with the stock’s performance and it should motivate the management to take smart decisions benefitting all the stakeholders. The CEO talked about stages and how each stage takes it’s own time and I understand it but if they take care of things that they have control of then the next stage/s will happen sooner than expected. Starting a separate line for investors (which we have asked since ages) is a good example of executing things that are in your control.

    The next stage will happen when they get back Lycos and complete the audio ad deal. I don’t know what happens with the forensic audit, I’m guessing that Deloitte has completed the audit and submitted their report to SEBI and then SEBI called the company’s CEO and CFO to discuss few points (as the CEO mentioned in the call). Like I said in one of my previous posts when FA was initiated, there’ll be different rules and regulations in different countries and since BCG has different subsidiaries in many countries there’ll be many confusions. SEBI may not like few things which are different to our rules, regulations, policies, practices etc and it may be okay with few things. Tech companies have to follow different rules in different countries and Google was fined more than $5 billion dollars in Europe and our country imposed a fine of over $250 million as recently as in October (I think close to or over 2000crs). For a company like Google this is peanuts and it doesn’t hurt it’s stock but for smaller companies like BCG, any negative comment will have a big impact on it’s share prices. The business will be impacted if they are committing any fraud but I don’t want to comment on that because I don’t think they have committed a fraud. If they did commit a fraud then I’ll be the first person criticizing the company and take necessary actions. What I feel is that it’s better to wait for SEBI’s report and make comments based on that. Some will take small negative comments very seriously and others may take it differently and again it all depends on individuals. I can’t and won’t force my views on others and likewise I won’t get influenced by others. I have invested my hard earned money and I’ll take decisions based on what may happen with the company in the future. If I have any complaints first I’ll try to talk with the management and if they don’t respond then I’ll approach authorities like SEBI.

    From what I have seen recently with most of the reports of forensic audit is that SEBI will impose a fine on the management and promoters if they have any complaints. I haven’t seen companies shutting down their business because of negative reports. Even the famous Bombay Dyeing company got a negative report from SEBI recently and its stock crashed the next day after it was announced and now it’s trading normally.

    Regarding conference call, all our queries were answered but some I was not satisfied with their reply and some I was okay with. To reveal the name of the audio ad company is taking too much time and they shouldn’t have announced the signing of the LOI. It’d have been better if they announced when they signed the definitive agreement. It’s better to surprise than make people wait and feel frustrated. Other topics, like Lycos, I think both the companies, BCG and DAUM (owned by Kakao), have to take shareholders’ approval for the deal to happen since both are listed companies. Then it’s good to know that BCG owns 51% in companies like Onomagic and Boldwin (both look futuristic businesses). I didn’t like the CEO’s answer to query related to LLPs selling. He told us that those shares will not come to the market but still it happened. I didn’t ask about promoters’ SHP because I knew that he wouldn’t give us a proper answer. It’d have been a waste of time.

    After so many years I got some clarity as to why they aren’t focusing more on the standalone business. With the standalone company, they’ll build products that other subsidiaries will use and focus more on those type of things. Adtech market here is dominated by big players like Google, Facebook etc and even companies like InMobi aren’t concentrating more on our markets. But Mr.Peshwa Acharya did give a hint that when they start focusing more on our markets, we can expect good growth rates. Let’s hope that it happens as early as possible.

    Finally, some people just because they bought shares will say positive things and influence others and other people talk negative and influence others in a different way if the stock doesn’t perform as per their wish. Whatever decision anyone takes should be based on their own research and analysis. If they have any complaints then they should talk to the management and if they don’t respond then they have to approach SEBI.

    in reply to: General Discussion #16149
    Logan
    Registered Boarder

    This is a good news and we’ve been asking for this since ages. They should also start replying to each and every mail since most investors prefer asking queries through mails.

    in reply to: Questions to ask / Post-Conference Update #15642
    Logan
    Registered Boarder

    @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.

    in reply to: General Discussion #15638
    Logan
    Registered Boarder

    For me the big positive sign is the improvement in free cash flow and the total cash (and cash equivalents) available with the company (though part of that cash is the money raised by giving equity).

    200 crores in 6 months is a good development and hopefully this continues in the coming quarters (the other free cash of 200+ crores is because of fluctuation in currency).

    Cancelling MediaMint deal (rework according to them) was a bummer but looking at the business opportunities and scaling, I think it was good the deal was cancelled. I know some will agree and others disagree but for backend you can somehow deal with it by hiring new people etc but to do something like audio ads you need to have assets or experience.

    I think of backend support as building a house or buying an apartment. At first BCG went with the latter i.e. wanted a team right away which is like buying an apartment but the good thing about backend is that you can easily build your own team (like building a house) or rely on other companies like MediaMint (contract which most companies do to reduce costs).

    And cancelling the deal looks better for MediaMint because if they were acquired then their growth would’ve depended on BCG’s growth and they wouldn’t have worked for BCG’s competitors but now they can work with whoever they want.

    Though I would’ve preferred MediaMint over Lycos but closing Lycos case with DAUM will be like taking the weight off your shoulders.

    I think 700-750crs will go to buying audio ad company and maybe 100-150crs will go to settling with DAUM. If MediaMint deal was closed then BCG wouldn’t have any cash and they’d have to take loans or issue more equity. Both are not ideal in this current environment.

    I was more interested in MediaMint deal because it would’ve resulted in growing the India business. I want them to start looking at our market more seriously (online advertising market that is) and try to grow the business here.

    in reply to: General Discussion #15634
    Logan
    Registered Boarder

    Yesterday Magnite was up 65% (single day), TTD up 20%, Criteo 10%, PubMatic 11%, Perion Network 7% and the Nasdaq index was up 7.35% in a single day.

    In US markets both selling and buying are crazy. Stocks reach a point where they’ll be way overvalued and then in the next few years become way undervalued and then become overvalued again and on and on.

    in reply to: General Discussion #15632
    Logan
    Registered Boarder

    Guessing Adtech companies’ results is very hard. Some do very well and others do worse in the same period and the US market is so fickle that even after having great quarters some stocks fall 10-20% when they miss analysts earnings/revenue estimates by even 1 percent. The Trade Desk had a great quarter but the management gave revenue guidance little short of analysts estimates and the stock tanked. It doesn’t make sense to me.

    Regarding results of other companies, TTD and Perion had great quarters whereas PubMatic and Magnite were average and Criteo was below average.

    TTD was down 8% yesterday even after impressive results, Perion was up 3%, Magnite is up 18% in after hours trading after an average quarter (compared to TTD and Perion). PubMatic is down 14%.

    So valuations of companies depend mostly on what analysts estimates say and the growth of the business. Results good but below analysts estimates then stock down. Results average or bad but do better than analysts estimates then stock up.

    Suppose company XYZ grows above 20% every year for 3-4 years and the next year it grows 10-15% also that’s bad in the US markets. It’s crazy. Magnite was trading above 60 last year and now it’s below 6. Even if you have a great business but grow little less then the stock will crash.

    in reply to: General Discussion #15611
    Logan
    Registered Boarder

    @odysee, the best solution is that the management should bring in someone who can guide them on topics related to the market/investors. With SEBI’s approval and considering all the legal rules and regulations we retail investors can appoint one person and nominate him/her to the board. That person can represent every small investor.

    The challenges to this are the management may not agree to it as they’ll have to disclose sensitive/confidential information or some investors may not agree with this idea because they’ll think that the person may do partiality as he/she may give sensitive information only to a particular group (which I also believe is a serious thing to consider which can’t be ignored)

    All these are unnecessary if the management keep up with their words and improve corporate governance and communications with the investors. I don’t know what’ll happen with the FA but even if it comes negative the business will still go on. Mr.Shankar Sharma said on live TV that the company has followed the proper accounting guidelines when they did the impairment.

    Sebi gives same penalty even if the issue is small. Companies approach Securities Appellate Tribunal (SAT) and sometimes SAT will give more time and relief to some companies.

    This is 1-2 months old news but I saw this just this weekend and will check properly the coming weekend – Securekloud (8k Miles) got a negative report on forensic audit and sebi put fines and penalties like barring the CEO and other people from securities market for 2 years and ordering the company to remove few people from the board and management but the company approached SAT and SAT gave relief to them saying they can be reappointed and continue to be board members etc.

    The order was very big and had legal terms which was little difficult to understand for a layman like me but what I understood from that was that sebi found irregularities and even the management of that company had agreed that they had done irregularities but interestingly SAT still gave relief to the company. They said that since the company did those irregularities before 2020 and since then they haven’t done any, they can continue running the company and those people can be re-appointed.

    (I’m not saying similar thing will happen to BCG or I’m not saying negative FA result is good or anything, I’m just sharing what happened with FA outcome and later events in Securekloud)

    in reply to: General Discussion #15607
    Logan
    Registered Boarder

    The FIIs investing in BCG are not active funds and most of them are passive funds, means they invest in stocks that are part of an index or indices. If a stock is part of an index they buy and if it’s removed from that index they sell. Because BCG is part of BSE 500, A group etc, funds are buying the stock.

    They select stocks based on many criteria, like market cap, P/E ratio, sector etc and once selected the funds don’t do research like how an active fund does. They don’t talk to the management, check the competitors, verify the books etc.

    The other FII/FPI are the funds that bought preferential equity in the company when BCG raised money last year. They on the other hand actually talk to management and invest (because their money goes into the company unlike other funds who buy stocks from the market).

    For domestic mutual funds to invest, the management has to take the initiative and talk to these people regularly (like almost every week or twice a week sometimes). I’ve seen in other companies where their management hold analyst meet very frequently. What my understanding is that the domestic mutual funds were uncertain about the company because of the Lycos case with DAUM. In one article (I don’t remember which) they wrote that analysts were uncertain because BCG (back then Lycos) moved into new areas and analysts were sceptical on that. I think they were talking about Lycos Life and how it didn’t succeed. And later Lycos case happened and BCG had to lose Lycos and brought more uncertainty. If Lycos is brought back and if the management explains clearly to analysts about their business and future plans, even domestic mutual funds will start investing. Again even here the management has to take the initiative.

    I agree with @tanv151 on attending conference calls and raising concerns. We see so many people talk negative about the company and influence others but if they are that good and always right then why don’t they expose the company by talking to the management in the conference calls? Writing in various platforms and influencing others is easy but doing the actual work takes effort.

    Regarding Vijay Kancharla’s appointment, I think most people voted against it because of reduction in his holdings. Institutions prefer companies to move away from founder/owner mentality and be more like corporations.

    I don’t know what he contributes to the company but people are angry that there was a reduction in his holding and till they get clarity he won’t get any love from the investor community. The CEO and Vijay Kancharla built this company from scratch with their hard work and effort but they are to be blamed for the current situation.

    I’m guessing the promoter holding was less than they were actually showing and didn’t want investors and the market to panic looking at the low holdings so they dragged it till they acquired those LLPs. I’d have preferred if they had told us what the actual holding was. Saying the truth and facing the consequences is far better than hiding and postponing it and losing trust later (which is happening now).

    The business is good, industry is good, there’ll be little slowdown like every other industry but it is bound to bounce back once the recession and inflation fears cool down but the management/promoter attitude must and should improve. They have the responsibility of looking after the interests of more than 3.5L shareholders who have invested their hard earned money.

    One thing to appreciate is that they have held conference calls after each and every quarter without fail and also held it after the MediaMint deal was cancelled (reworked according to them). The management said that corporate governance will be the third pillar and they’ll focus on it more and we all will appreciate them if they do that.

    in reply to: General Discussion #15594
    Logan
    Registered Boarder

    The match felt like a rollercoaster ride. My heart was in my mouth when DK got out but thankfully Ashwin was there and maintained his cool and got us to the finish line.

    I don’t know what to write about Virat Kohli’s innings and his commitment to the team and our country. Take a bow legend.

    I wish everyone (including BCG’s haters) a very happy Deepavali. Jai Hind.

    in reply to: General Discussion #15592
    Logan
    Registered Boarder

    What I’ve observed all these years is that Drama always follows BCG.

    It’s like that dialogue in KGF movie

    Violence.. Violence… Violence…
    I don’t like it. I avoid.
    But…. Violence likes me..
    I can’t avoid.

    In BCG’s case, it’s Drama instead of violence. There’ll always be one or other thing.

    We all thought that it would end with BCG paying off all the loans and completing Lycos deal but new things happened and the management not focusing enough on sorting them out or improving corporate governance hasn’t improved the situation.

    The CEO said that they’ll focus more on corporate governance this year and let’s see what actions they’ll take to improve that. Their first focus should be on earning the market’s/investors’ trust. I’ve not seen a company trading at such cheap valuations with such growth rates. The market is not ready to give good valuations yet. It did give a good valuation last year but because of FA, SHP, huge free float etc that valuation couldn’t sustain.

    FA is not in their hands but other things are. They should give more clarity on SHP issue and be frank and direct with the investors. The CEO gets negative and annoyed if anyone asks about SHP but he has no choice but to give proper answers.

    Even in the recent announcement regarding audio ad acquisition and Daum settlement deal, they should have provided basic details at least. What’s the point saying that the board discussed this and that without saying what this and that are? Even the market wasn’t convinced with that announcement. I guess the CEO is not ready to take other people’s suggestions and is not able to understand what the market thinks. He doesn’t want to lose control of the company and still runs it as a private company. This may be good for the growth of the business but I’m not sure the market will appreciate that. Investors want companies to be more transparent, give more details than required, and do things sooner than expected (eg – dividend payment).

    Markets appreciate this more than anything else –

    “Action speaks louder than words.”

    It’s time for BCG’s management to follow this mantra. At least from this Deepawali/Diwali they should consider this as a priority and start acting soon on their words. We all want BCG to be valued like the other companies i.e. based on business, growth, future, etc.

    The management should focus on ending all the dramas and removing the uncertainty as much as they can. If these are done then automatically the market will give BCG a good valuation.

    in reply to: General Discussion #15589
    Logan
    Registered Boarder

    I’m not sure whether the management knows how to communicate with the market/investors. They should give some details at least like name of the target company or the settlement amount (Lycos-DAUM) or timelines of these events etc.

    I feel that they still have private company mentality. Like I’ve mentioned many times before, there’s no one on the board who knows and understands the market. Mr.Peshwa Acharya is good at marketing and I think he’s new to public markets, Mr.Nilendu Narayan is good at accounting and others I don’t think will bring anything important to the company.

    in reply to: General Discussion #15584
    Logan
    Registered Boarder

    Board Meeting on Monday, 17th October to discuss

    1) Audio Ad Definitive Agreement

    2) Lycos deal with Daum

    in reply to: General Discussion #14540
    Logan
    Registered Boarder

    I think admin was busy and might not have sent the questions list to the IR so if anyone gets chance to ask questions, please include my queries also.

    Please ask the CEO about how Brightcom of 2023, 2024 will be different from Brightcom of 2021, 2022 etc. What did he mean by that?

    Other than FA, please also ask about India business, Audio ad deal, Lycos, investor communication improvement and finally about his thoughts on stock price slide and volatility.

    And please record the AGM, I’m having trouble logging into NSDL and don’t know whether I can attend the AGM or not. It would’ve been better if they held it on Saturday.

    Thanks in advance.

    in reply to: Questions to ask / Post-Conference Update #14535
    Logan
    Registered Boarder

    @admin, these are my queries for the AGM. Please review them once and send them to the IR. I’ve not asked about SHP, FA etc because those were answered in the last conference call.

    Congratulations to the CEO, management team and all the employees of BCG on a great year and thank you for all your efforts.

    Questions

    -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?

    -In the past you talked about growing the India business of BCG, what plans do you have for that and when can we expect higher growth rates in the standalone business?

    -Since we’re at the end of the September quarter, how is the business doing this quarter? Are you going to do better than the guidance? How much free cash flow are you expecting to generate this quarter?

    -Are you experiencing the effect of higher interest rates and inflation? Will there be a slowdown in the business in the coming months?

    -Update on Audio Ad company acquisition? Why is it taking so much time to announce the deal?

    -Update on AI and ML business?

    -Now that the MediaMint deal has been reworked, what plans do you have for the backend services business of BCG?

    -How much will you be spending for R&D on Quantum Computing?

    -Update on Lycos deal with DAUM? When can we expect this to be done and dusted?

    -We would like to see an improvement in communications with the investors. We don’t get our mails and phone calls answered and for us to get our queries answered we’ll have to wait for the conference call every time. When can we expect to see improvements in this?

    -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 excellently but that is not reflecting in the stock prices.

    in reply to: Questions to ask / Post-Conference Update #14512
    Logan
    Registered Boarder

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

    1) Why was the MediaMint deal cancelled even after due diligence, definitive agreement, share allotment etc were completed? Didn’t the management check about the competition/operational issues while doing the due diligence? You could’ve cancelled the deal before signing the definitive agreement right?

    2) Who decided to cancel the deal? Was it BCG or MediaMint?

    3) Did forensic audit play a role in cancelling the deal?

    4) What happens to the shares allotted to MediaMint people?

    5) Because of various issues (forensic audit, variation in promoter SHP, Lycos case with DAUM), BCG is not having a good name in the market. How do you plan to change that? Because of these things, shareholders are anxious. What is your message to all the shareholders who have supported you all these years?

    6) What is the update on Lycos deal? Closing the Lycos deal will bring much needed credibility and it will be appreciated by all the shareholders.

    7) What is the update on audio ad company acquisition? When will you reveal the name of the target company?

    in reply to: General Discussion #14502
    Logan
    Registered Boarder

    What I feel is that the problem is not with buying MediaMint or not but announcing the deal and then cancelling it. Like I said in my previous post, they have big responsibility now and whatever decision they take it should benefit all the stakeholders. Buying MediaMint may not be ideal for some reasons but why announce it, give them shares and then cancel it? Why make it more complicated and make people lose trust and point fingers at you? All these could’ve been avoided if they thought about these when they did the due diligence.

    Usually they do 3 types of due diligence, one is financial, second is legal due diligence and the third will be operational (which some companies skip).

    People will not forget these type of things. Just look at the perception that Lycos created. It won’t add much to the business but still anyone you ask they’ll always judge BCG by considering Lycos first. When it comes to business, I’ll be the last person to get excited about getting Lycos back but when it comes to getting credibility back, I want them to complete the Lycos deal first.

    in reply to: General Discussion #14498
    Logan
    Registered Boarder

    I think they should have thought about all these things before making the decision to acquire MediaMint. It’s not as if they didn’t know that MediaMint would work for BCG’s competitors.

    The management has the responsibility of looking at the interests of more than 3 lakh shareholders. If it were any private company it wouldn’t have mattered but BCG is a public company and they should be more responsible in handling these things.

    I don’t know what happens to the shares that were allotted to MediaMint people. They have lock in period until next March or April. I can’t understand why they do all the required procedures and then cancel the deal.

    Like every other time let’s see what they say about this in the conference call. One good thing is at least they are hosting a conference call after the announcement else we’d have to wait till the next call to get any clarity.

    Last time they didn’t answer our queries as I sent it too late but this time I’ll send it as early as I can. There aren’t too many queries so maybe I’ll send it by EOD tomorrow.

Viewing 20 posts - 1 through 20 (of 752 total)