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I sold my BCG shares today. I should have done this earlier. But one lesson I have learned from Suresh Reddy et al., in investing is that, if the past of a company has been shady, its future will be murky too. Character can seldom be re-built. My good wishes for everyone here. Adios.

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@Brightspot Sir, its not that I am against you. But I have convinced myself that SKR does not think of small investors significant in his grand scheme. So, we can try to put him under pressure with blessings from the regulator, but he will never concede to our demands. I have no doubts that there is more heartburn stored in this counter. Hope we all have something to smile about in the near future.

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@akkithegrt I respect your views, but what can we do? We cannot pressurize him to accept our request. He has set the lowest standard one must meet in order to be in compliance for a public company. I have said this before also, Has he given the investors any reason to believe in anything he says? Culture is hardwired in the DNA and I am convinced that people like SKR do not change. He will keep justifying everything that has happened in recent past and he will never take responsibility for the adversity that comes our way. So, what will we achieve by creating the association?

We have to accept the fact that there is no Brightcomgroup without SKR and with SKR, the shareholders are never going to be happy. Now, either we accept it and hold on to our shares or if your patience is running thin like mine, you will give up on BCG and exit at next good opportunity.

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SKR will deliver some news just before the next con-call. Otherwise, it will be extremely hard for him to face the investors this time. So, don’t expect any action from him for another one month.

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I have mailed to IR for a conference. But I think, SKR will make an announcement only before the next con-call, which may happen post the quarterly results. Since, he is waiting for an opportunity to make that announcement, he may not do another con-call. But he should be willing to talk a handful of investors.

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Dear Rathi_b, I appreciate and support your view. I also agree with Logan that, let’s come up with a list of questions and stick to it. Then, it does not matter who is asking. If we have to nominate someone, my vote is with you and Logan. Please request SKR for a meeting.

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In my humble opinion, before taking any step, lets request SKR for a meeting. The only two agendas of the meeting should be
1. Why there has been no concrete step taken by the management after the value has eroded by more than 80%. Is he not concerned about the image/positioning of Brightcom in the public?
2. What is the plan for closing the pending issues and how much time will they take.
If we do not get satisfactory answers to these, I am in favor to pursue any legal step that the association may deem necessary.

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When was the management not confident in their business? Every quarter, they have showed better number than the previous. Its the inability to act or close the issues, sticking to their words and wayward decisions which has left the investors clueless. There may be issues with Daum settlement, but why cant they inform the investors about it. After saying that its a “done and dusted” matter, more than 2 years ago, has there been any communication to the investors about the status? Also, market was not ready to believe their unaudited numbers, and what did they do. They cancelled two acquisitions, which would have given a definitive proof of the free cash flow. Moreover, this matter of the pledge`e selling the shares in open market sounds completely illegal. Why have they not made a public statement about it or even rectified it. They had more than a year to close this. They keep making stupid investor presentations, but have no interaction with the major investment houses in the country. Any interaction with them will create some buzz in the market and may help in re-gaining the investors confidence. I do not understand why everything has to be so secretive in Brightcom.

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SKR may have distinguished business acumen, but he is not truthful and the market in general has realized it. So, unless there is documented proof of the growth and financials of the company, nothing will change the status quo. So, either the result of FA is published soon and is completely in the company’s favor or SKR makes the audited results of all the subsidiaries public, may change the game for BCG. Even Daum settlement, clarification on SHP or even a small buyback will not make any dent to the current public sentiment.

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I doubt that meeting SKR will improve anything. If he wanted to resolve any of those problems, he had enough time. I don’t trust a single word he says now.

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There is a very popular saying in corporate, “culture eats strategy for breakfast”. So, irrespective of how good the company gets in innovation, if it cannot mend its ways, market will never give it the due respect. And culture flows top down. So, first the CEO needs to realize this and make amends.@logan in his comment above has beautifully captured what are the shortcomings that SKR must work on this year.

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This is my hypothesis. These LLPs have huge number of shares and since the price has fallen so much, they are not able to exit. So, they are trading by getting margin against their shares (brokers will allow you to short a certain share without having margin if you already hold good quantities of it) and making 7-10% daily. Unless, someone with deeper pockets intervene, they have nothing to fear.

But, them not exiting completely is also a (somewhat) good sign for us. It may mean that they are also expecting the FA result to come in the company’s favor.

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BCG has never been so silent. I have strong feeling that SKR is working to fix atleast one of these issues and I am expecting some good news in Jan. You may call it wishful thinking. I am disappointed, but I have not given up on BCG yet.

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No one is blaming anyone. I only reflected the frustration of the retail investors. Most of us are only asking for updates on the action that management is taking for the long-pending issues. If it takes years to close an issue, are we expected to wait for that long to get any update? And moreover, how can we trust that everything on the business end is running smoothly but when it comes to governance, things become paralysed. Why can’t they tell clearly what actions did they take in 2022 and what is planned for 2023?

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^ You do realize that the name of this forum is “brightcominvestors”. If the discussion do not happen around the present and future prospects of the company, then what else shall we do?

Everyone wanted some updates about the status quo of the issues that have plagued the share these days, and since it is not coming from the management, many had high hopes from his meeting with the Hyd investors.And, what will give investors more confidence; if SKR could just tell where is the Daum issue stuck, what progress has the company made in Audio ads division since Mr. Chetti has come onboard (I am hoping that he is not working full time on the acquisition since the past year), Why are these penalties imposed on them by Sebi and what are they doing to ensure that this does not happen again.

I dont know about you, but a concrete answer to any of these will give me the assurance that the management is not callous about retail investors. Sorry, but meeting investors after an international flight and feeding the same answers does not bring that confidence.

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@lycos.rags.to.rich, I can answer your questions and it will not differ much from how SKR would have answered. “There are some pending issues because of which we are not able to do any of these now, but we are actively working towards closing them. We may do all these in the future when all the issues have been dealt with”.

Did you gain any new information from what you had 1-2 con-calls before? As an investor it is frustrating when the management cannot give you any clarity on the matters that need attention, but asks you align to their vision. I hope this changes soon.

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Hi @Rathi_b, Are you meeting Suresh garu this weekend?

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There is a good possibility that this penalty is for the unexplained changes in the SHP of the two promotors of the company.

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@whyshares ji, I agree with you on this. Instead of assuming the outcome of the FA, the “investors” can also consider this. If the management believes (and i believe that SKR will not lie to all investors) that there is no wrongdoing and the outcome should come in their favor, then it should be so. The circuit revision may or may not have any relation to the audit. I also have a gut feeling that will know about the outcome before December.

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Why are we assuming that it was BCG which has cancelled the deal. Think from the perspective of Mediamint management. They were paid a considerable amount in shares of BCG at 120 Rs apiece. Now that the share has corrected by more than 60%, they may be developing cold feet. In Adtech business, there are very few body shops around, which can supply human resources for running and optimizing ad-campaigns. Big ones like Google and FB work with vendors all around the world for this need. So, If I was in MM’s management, I would prefer working for my company, where I know for sure that there is a big demand to fill, rather than betting on near future growth of BCG.

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