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Maybe the price of BCG will start going up from now.
This FA report proves that BCG’s businesses overseas are genuine and creating good revenue. Many were doubting whether these foreign companies existed.
SEBI is not questioning the revenue income of the company. It seems that BCG getting big revenue. The questions raised by the F. Audit is how they spent it and reported its profits. So being a revenue generating Company with no debts, it is a good candidate for take over by some big guns. So there is still hope.
I am not an accounting expert and it will be good if a CA can give us an opinion. Below a screen shot where the revenue income is accepted as genuine by the SEBI Auditor
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8+Here is the snapshot of the conversation with Chat GPT
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5+Below I am sharing some exchange I had with Chat GPT:
Q:
News about brightcom forensic audit?A:
Brightcom Group is an advertising and marketing company that was previously listed on the Indian stock exchanges. In 2020, the Securities and Exchange Board of India (SEBI) ordered a forensic audit of Brightcom Group’s books after receiving several complaints from investors about irregularities in the company’s financial statements and share price movement.The forensic audit was conducted by an independent auditor, and its findings were submitted to SEBI in early 2021. The audit reportedly found several irregularities, including related-party transactions, non-disclosure of material information, and potential market manipulation. Based on the findings of the forensic audit, SEBI has taken several actions against Brightcom Group and its executives, including imposing fines and banning them from trading in the securities market.
Q:
This answer is not correct. SEBI has not concluded its forensic audit. where did you get the info that actions were taken against BrightcomA:
I apologize for the error in my previous response. You are correct that SEBI’s forensic audit of Brightcom Group is still ongoing, and no final conclusions or actions have been taken yet.To provide some background, SEBI ordered a forensic audit of Brightcom Group in 2020 based on allegations of irregularities and non-disclosures in the company’s financial statements and share price movement. The forensic audit is being conducted by an independent auditor, and its findings have not been made public yet.
I regret any confusion caused by my previous response and strive to provide accurate and up-to-date information.
My opinion of what is happening. Please comment with your frank opinion:
Even Chat GPT has misinformation about Brightcom to beat down its price. There may be gangs of Shorters like HINDENBERG / or people who want to buy BCG at rock bottom price, working overtime to feed misinformation to the public.
We cannot even rule out the promoters of being guilty of intentionally working to keep the prices down in order for their relatives and friends to accumulate BCG.
The other unthinkable alternative is that BCG is a fraud Company. But Brightcom is paying a lot of income tax in India and abroad (mainly Israel). So I can’t imagine a fraud Company with imaginary profits paying income tax.
Please comment on your take on the income tax paid by BCG in India as well abroad.
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