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tanv151Registered Boarder
@myainvest I am with you. These issues are being dragged forever. The only real issue which everyone is aware of is ‘lack of intent’ from SKR / management team. Daum issue was not even mentioned as part of the business update, clearly poor communication strategy which needs to be corrected asap.
tanv151Registered Boarder@odysee I am not contesting the amount to be paid, which is why I did not mention any amount. What I am trying to convey is, if I defaulted on a loan twice (may seem like a willful default) I better be ready to pay a penalty. But the issue is BCG is not countering the petition completely and only have being buying time, way more than needed. This is certainly denting the reputation and the momentum we had. This is my personal view.
6+tanv151Registered Boarder@valuebuyer001 Rightly said. This case is unlike Daum, who did not disclose the accurate details to BCG and tried to take more money than lycos deal deserved then. In case of Axis, it was a loan taken and the borrower is obligated to repay the money.
We all know only defaulters claim OTS and a common reason given is ‘I/we don’t have any money to repay the loan’. Correct me if I am wrong.
All the business have been going through tough times due to this pandemic and banks are no exception to this. I believe they have the right to demand their money back especially when the opposite party did not honour the previous agreement, on top of it they know BCG has money now.
In my view, paying few extra crores may seem like not so good step but it will have positive impact in the long run. SKR should get this resolved without dragging any further in a hope that Axis will give some concession. With US elections right around the corner, any money BCG can get released after paying Axis will be of good use.
tanv151Registered Boarder@lycos.rags.to.riches as you rightly mentioned Axis Bank has a upper hand in this case. They have the best leverage as they were able to get pref issue funds locked through the court. SKR needs to realise the cost of lost opportunities on the back of this issue.
Additionally, Axis in their petition have clearly given the reasons for them to demand the entire amount as opposed to BCG not mentioning of any letter or email which confirms the OTS that was agreed before.
It is only in the best interest of the company to get this sorted asap as it will have a significant impact on the reputation of the company, from a India market point of view. I am struggling to understand why BCG council asked for 20 more days time.
5+tanv151Registered Boarder@sateanna Absolutely. While we are all supremely confident of the business and it’s future, SKR’s lack of urgency in resolving issues has had a severe impact on the share price. It almost seem like he is deliberately deferring the resolution and/or on the below points.
– Axis – If an email was sent post consultation with Axis management, why is BCG still asking for more time, repeatedly? And why no communication is coming from the BCG management? What’s the point of issuing pref shares when you don’t want the get the money released (locked due to court order)?
– Daum – There were so many options given on by this forum members on closing this issue. They may not be the best, and SKR is smart enough to figure the best option. Even then it is still pending for ages now and no communication from him whatsoever.
– Consolidation – This has been going on for at least 6 months now. I really doubt a big audit house like BDO will need such a long time to help in consolidation and audit. Again, no communication whatsoever.
All these three points IMO are very much in control of SKR, be it in fixing them or communicating about them.
LOC – This may have some dependency as he needs to secure a party l, willing to provide the credit facility. Having said that, SKR can provide updates without waiting for quarterly Conf call.
Bottom line, it’s high time SKR stops downplaying Axis and Daum issues; fix them immediately. With SKR I don’t think it’s an issue with SKILL but WILL to resolve issues. It is disheartening to see the issues being dragged for so long.
tanv151Registered BoarderCheck out the adauth market share of onetag (one of the brands of BCG), it has grown to 3% from about 2.5%. It’s been an interesting uptick so far for both Brightcom and Onetag, and hopefully have an impact on reputation n share price of BCG.
https://www.adauth.com/exchanges/onetag.com
5+tanv151Registered Boarder@myainvest looking at the delivery % on NSE, which is just 46.62%, in my view it is clear that artificial pressure was created by the operators to indirectly trigger panic selling.
7+tanv151Registered BoarderYou are right @sateanna. They wouldn’t send such notification to the market without having orally agreed on a particular amount for the closure of this loan. Good thing is, unlike nationalised banks, private banks will have a quicker turn around time to respond to such high value matters. Therefore, we should see this sorted soon.
tanv151Registered BoarderUpdate on NCLT case
“For filing reply, time is extended till 12.08.2020.2+tanv151Registered Boarder@admin… Thank you for sharing the details. Just curious to know if you see increased number of visitors from other countries?
tanv151Registered BoarderNo doubt OAK selling shares has impacted the momentum but I think given the deadline they have they are still trying to minimise the impact by not dumping all their shares in shot instead selling in small numbers, so there is no panic in the minds of investors.
Looking at the volumes I am positively surprised by the amount the shares being bought in the open market. Definitely a display of great confidence in this scrip.
tanv151Registered BoarderDear Admin,
Are you able to provide latest traffic details on this site pls?
0tanv151Registered BoarderHi All,
Can someone pls confirm if this is the same ‘Onetag’ product used by OMS along with Brightcom and Pangea? If it is then just check out it’s market cap on AdAuth – it’s 2.5%.
https://www.adauth.com/exchanges/onetag.com
2+tanv151Registered BoarderListing of recently issued preferential shares confirmed. Check BSE notifications.
https://www.bseindia.com/markets/MarketInfo/NoticesCirculars.aspx?txtscripcd=532368
1+tanv151Registered BoarderApproximately 3 crore shares were traded combined BSE & NSE since 1st July. So, even if we consider Oak has sold one third off this volume (which should be a crore), Oak will still be left with about 80 odd lakh shares.
However, I will be more than happy if someone can confirm that Oak is done selling as that way supply will reduce, and it will have a positive impact on the price.
3+tanv151Registered BoarderSeems like B-Local is gaining momentum as per Suresh’s Twitt. ‘The Advocate’ has been on-boarded.
3+tanv151Registered BoarderI hope that’s true. If it is, Oak will notify the market through exchanges as I believe any party/firm buying/selling more than 2% stake in any company, per quarter needs to notify the exchanges.
1+tanv151Registered BoarderThe biggest thing to notice is the shares against Muskaan Limited’s name. This was uploaded to confirm the preference share allotment is complete. So the company received ~30cr rupees, and the next announcement is going to be about closure of Axis bank loan.
1+tanv151Registered BoarderCheck the latest update on BSE
https://www.bseindia.com/xml-data/corpfiling/AttachLive/e0f4f558-5778-4dcc-a099-0f097a6ffb53.pdf
One might argue about the Daum status, of course it’s not the best update in that regard. However, I like the quality and overall content.
0tanv151Registered BoarderI am particularly happy with the quality of this presentations. This is by far the best presentation from BCG, both in terms of providing key details and the way they have put it together.
Additionally, this provides an answer to all the questions on the impact of Covid 19 on digital ad industry.
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