BRN Discussion Ongoing

[Esq.111]

Hi Esq

Yes I have received an answer but only this afternoon and my wife was using the PC so had to wait which is not a bad thing as there is some additional information which I need to add not perhaps for you but for others.

I know that the vast majority of retail believe that Directors and Key Management get these things called free options. Well the options are free except when it comes to the question of what the Internal Revenue Service (IRS) believes free means in the USA where Manny is resident and is subject to US taxation law.

Making it as simple as I possibly can this is the situation as I understand it and I am not a tax lawyer in Australia let alone the US:

1. The Director, Key Management person or an employee receives options as part of his or her employment package. These options are given a strike price in Manny's case it was 12.5 cents. This does not trigger a tax event as far as the IRS is concerned.

2. At some point those options will vest and they will have a right to exercise the vested options and buy them for the exercise price. The vesting does not give rise to a tax event as far as the IRS is concerned.

3. When the Director, Key Management person or employee does exercise the options that have vested this however does given rise to a tax event as far as the IRS is concerned and tax becomes payable at their normal tax rate on the difference between the exercise price and the price of the share on market on that day. This means on the date of 1 March, 22 when Manny resigned if he exercised his 8 million vested options he would have been liable to pay tax at his ordinary rate on the difference between AU12.5 cents and the price on that day which if I have got it right was $AU1.21 so he would have been liable to pay tax on $AU8,680,000. I believe the tax rate would have been 37% so Manny would have had to pay $AU3,211,600 in tax. Ideally you would borrow the funds to exercise the options being $1million and the $3,211,600 to cover the tax in Manny's case and take this opportunity and then pay out the borrowings by selling sufficient of your shares to cover this debt and hold onto the remaining shares or sell them which ever took your fancy at the time.

On the 1 March, 2022 we were in a falling market thanks to Puto and crew and so it is my opinion that Manny took the sensible option available to him under the terms of his agreement with Brainchip and elected to not exercise the options and allow them to lapse. At that point no one knew where the share price was going to end up and it could have been that the bottom would have have required virtually all the shares to be sold to cover the $4,211,600 borrowed and the interest. Into this equation Manny being in the US and selling on the ASX would have exchange rate issues to consider in these uncertain times which adds another dimension to his financial risk. So no golden handshake for Manny.
see - https://www.investopedia.com/terms/e/eso.asp

So here is Tony Dawe's reply and my further question and his final reply.

My opinion only DYOR
FF

AKIDA BALLISTA

Tony Dawe	2:27 PM (2 hours ago)​		​
to me

Hi Fact Finder

Apologies for the delay in responding. I hope you and your loved ones are “high and dry” and haven’t been too badly affected by the flooding across NSW.

I’m up to my ears in engagement meetings with institutional analysts and potential investors. The days are too short. The level of interest in BRN hasn’t waned. If anything, its increasing.

In regards to Mr Hernandez’ retirement, the Appendix 3Z announcement “Final Director’s Interest Notice” confirms that upon his retirement from the position of Chairman all of his options lapsed.

Regards

Tony Dawe

Manager, Investor Relations

Brainchip Holdings Ltd. (ASX: BRN, OTCQX: BRHPY)

Level 29, 221 St. George’s Terrace

Perth, 6000, Western Australia

+61 (0)405 989 743


Hi Tony

Yes we are what might be described as high and dry. The amount of rain though has not been overstated despite our good fortune. It is fine here today but apparently back to rain tomorrow for another week.

Great to hear about the interest continuing.

I do not understand the fact that they lapsed as the annual report just released said the 8 million options had vested and had an exercise date out in 2024 with an exercise price of 12.5 cents so they were certainly well and truly in the money.

Did he have a clause in his contract that required he surrender the options even where they were vested if he resigned?

Regards

Fact Finder

Tony Dawe	3:25 PM (1 hour ago)​		​
to me

In short, yes.

Afternoon Fact Finder,

Greatly appreciated the time you have taken on resolving this matter .

So my understanding from this is there should be another ASX form released stating lapse of these options, if not it should be disclosed in the next set of financials.

Thankyou once again.

AKUDA BALISTA.

Regards,
Esq.

 

[Chilling]

Semiconductors Deep Dive (Part 2): Scale and Timeline of 5G Infrastructure

Light travels at 670,616,629 miles per hour.

01core.substack.com

Part 2 just considering where Brainchip will fit into this in the future.

 

[Dhm]

In terms of Sean's conference this morning, what would the circumstances be whereby the ASX would require an announcement from Brainchip? As we have discussed, most commercial relationships seem to be clothed in silence. Mercedes happily revealed and that put a rocket under us for a while. I understand the logic behand a client's silence but the downside of that for shareholders and leading stakeholders is a moribund SP. Arguably there may be further silence for quite a while. Even though we have over 100 NDA's, the very nature of them is non disclosure.

Could we speculate as to what might the next rocket to get us back to a more realistic SP?

BTW I just love the gererous level of research and sharing of information and minds here. Also the amount of respect (and humor) given to others.

 

[Taproot]

Sony automotive lidar

Sony stacks SPAD sensor and logic in single chip for automotive lidar - Embedded.com

Sony said its new IMX459 is the industry’s first stacked SPAD depth sensor for automotive lidar applications that includes SPAD pixels and distance measuring processing circuit on a single chip.

www.embedded.com

Davide Scaramuzza ( Uni of Zurich ) + Sony Zurich Collaboration
Combining an event based camera with a laser point projector
Also Event driven Lidars

Event Cameras – An Evolution in Visual Data Capture - Robohub

robohub.org

https://www.allaboutcircuits.com/news/sonys-image-sensor-roundup-automation-auto-lidar-ai-more/

Brainchip + JAST + Bernabe Linares-Barranco
Bernabe Linares-Barranco + Prophesee
Prophesee + Sony

Would absolutely love to see the Sony logo show up at some point.
Sony + Brainchip is a match made in heaven !!!
Let it be so

 

[Foxdog]

That's a very good question and it's one I can't answer at present. Hang on, I'll go fetch my packet and see if there's an instruction manual containing the information you seek.

Does Kim really include instructions with her used products?

 

[Diogenese]

In terms of Sean's conference this morning, what would the circumstances be whereby the ASX would require an announcement from Brainchip? As we have discussed, most commercial relationships seem to be clothed in silence. Mercedes happily revealed and that put a rocket under us for a while. I understand the logic behand a client's silence but the downside of that for shareholders and leading stakeholders is a moribund SP. Arguably there may be further silence for quite a while. Even though we have over 100 NDA's, the very nature of them is non disclosure.

Could we speculate as to what might the next rocket to get us back to a more realistic SP?

BTW I just love the gererous level of research and sharing of information and minds here. Also the amount of respect (and humor) given to others.

Hi Dhm,

I agree the current depressed share price relative to the potential of the technology is frustrating, but, unless one has a pressing need to sell, it is not really relevant.

As you suggest, with a major announcement the share price will move towards its true value.

Over the last few months company spokespersons have indicated revenue is expected in the second half of this year, so I'm seeing how long I can hold my breath.

 

[Mazewolf]

Sony automotive lidar

Sony stacks SPAD sensor and logic in single chip for automotive lidar - Embedded.com

Sony said its new IMX459 is the industry’s first stacked SPAD depth sensor for automotive lidar applications that includes SPAD pixels and distance measuring processing circuit on a single chip.

www.embedded.com

Davide Scaramuzza ( Uni of Zurich ) + Sony Zurich Collaboration
Combining an event based camera with a laser point projector
Also Event driven Lidars

Event Cameras – An Evolution in Visual Data Capture - Robohub

robohub.org

https://www.allaboutcircuits.com/news/sonys-image-sensor-roundup-automation-auto-lidar-ai-more/

Brainchip + JAST + Bernabe Linares-Barranco
Bernabe Linares-Barranco + Prophesee
Prophesee + Sony

Would absolutely love to see the Sony logo show up at some point.
Sony + Brainchip is a match made in heaven !!!
Let it be so

https://singularityhub.com/2022/02/10/sonys-ai-beat-the-worlds-best-gran-turismo-drivers/
...and so may it be! in the next phase anyway...

 

[Stable Genius]

Hi Dhm,

I agree the current depressed share price relative to the potential of the technology is frustrating, but, unless one has a pressing need to sell, it is not really relevant.

As you suggest, with a major announcement the share price will move towards its true value.

Over the last few months company spokespersons have indicated revenue is expected in the second half of this year, so I'm seeing how long I can hold my breath.

I’ve said it before but I’ve set a 5 year timeframe to hold: before I take some cream off the top!

I’m very confident that all EAP’s now will have their products out, promoting Brainchip is inside. That will hopefully include Valeo, Denso, Cerence, NASA, Nanose, Renesas, Megachips and many others.

More customers will be queuing up and royalties flowing. Akida 1000, 500, 2000 will be on sale and 3000 on the work bench.

I know it’s hard to have to wait but the other option is to not hold now and pay more later.

I’m choosing the accumulate, have patients and hold. I’m looking forward to the future!

 

[Mazewolf]

https://singularityhub.com/2022/02/...ts-ai-learn-continuously-just-like-the-brain/
also interesting, I sense a future convergence with Akida

 

[Dijon101]

https://megachips.com/artificial-intelligence-machine-learning/

Well this is bloody exciting.





"Brainchip features a unique neuromorphic processor which takes advantage of the sparse data streams associated with most edge applications to provide a very low power solution while maintaining high performance. The small footprint of the Brainchip IP makes it an ideal solution for low power, high volume applications.
Megachips’ engineering team is fully trained on Brainchip software and hardware and is prepared to work directly with our customers to evaluate the performance of the Brainchip Solution in your product.
Once selected MegaChips will work closely with our customers throughout the product development cycle, including licensing the SDK hardware and software, provide NN model consulting, and ensure the final design can be efficiently implemented into silicon."

I could literally Bold the whole statement.


Edited my post to include the link to the Megachips website

 

[Fact Finder]

Well this is bloody exciting.





"Brainchip features a unique neuromorphic processor which takes advantage of the sparse data streams associated with most edge applications to provide a very low power solution while maintaining high performance. The small footprint of the Brainchip IP makes it an ideal solution for low power, high volume applications.
Megachips’ engineering team is fully trained on Brainchip software and hardware and is prepared to work directly with our customers to evaluate the performance of the Brainchip Solution in your product.
Once selected MegaChips will work closely with our customers throughout the product development cycle, including licensing the SDK hardware and software, provide NN model consulting, and ensure the final design can be efficiently implemented into silicon."

I could literally Bold the whole statement.

On my phone and the reference or link to this does not appear. Where did you find this quote?

By the way it should all be bold and underlined sent to the neon sign shop and half a dozen large signs made. Flashing and multi coloured and then we can throw in to rent space across from the offices of MF, AFR, HC and TMH.
FF

 

[Learning]

Thank TechGirl for the video presentation.

Mercedes want to build "a car that thinks like you".

I do wonder what that truly means?:-

We know Mercedes is using Akida in the concept EQXX ("Hey, Mercedes" voice control system in the EQXX five to ten times more efficient than conventional voice control.)

We know Akida has the ability to do one shot learning and more.

The following is my hypothesis/ imagination. Lol

The first use case would be, improvements of the voice control system eg, when first entered a new Mercedes you have to manually input your heights on the info entertainment system, for the seat to adjust to the correct driving position base on your hight. But now with Akida its can be done with voice control, and because Akida can recognise (vision) the driver, its won't be needed for a second time as you swap between driver.

Mercedes is using Akida to learn the driver comforts adjustments and automaticly adjust ( incar temperature, type of music, volume to the like of the driver.

Mercedes is using Akida to learn the driver driving patterns, and as it recognises a different driving patterns (eg, intoxicated, unconscious, un normal behaviour) the car will alarms and slow down.

That's just some of my hypothesis ( I don't have a brand new car, so other luxury brand may have those already) but that's what I thinks a car that thinks like me would behave.

It's great to be a shareholder.

 

[Frank Zappa]

On my phone and the reference or link to this does not appear. Where did you find this quote?

By the way it should all be bold and underlined sent to the neon sign shop and half a dozen large signs made. Flashing and multi coloured and then we can throw in to rent space across from the offices of MF, AFR, HC and TMH.
FF

I purchased a parcel of shares which lowered my average cost to $1.58c . I am happy now as their share price fits into you and your British analysts comprehensive broadsheet assessment of the companies value . I trust your judgment and therefore feeling comfortable now . Thankyou for your time and sharing of knowledge and that of your contacts

 

[Okeydokey01]

https://www.firstlinks.com.au/ai-todays-important-investment-theme?utm_campaign=Morning Note Free 20220309&utm_medium=email&utm_source=Email Campaign​

Why AI is today’s most important investment theme​

"The conclusion is clear: to win from the AI revolution, own today’s hyperscalers, Amazon, Microsoft and Alphabet (Google)."
"Andrew Macken
March 03, 2022

Hi John, there is limited space available in any newsletter and this article is a summary of considerable work by our team. We focus on deep research at Montaka and to that end there is a longer 5000 word research paper behind this article. We are also continually researching so our work here is always ongoing. As for BrainChip, we observed that Amazon and Alphabet, for example, each spend as much in R&D every 2 hours as BrainChip does in a full year. So there is a sizeable difference in scale here."

I post this article, not as a down ramper, but to demonstrate the monumental task that our marketing team have to overcome and highlight how some journalists, just don't get it.

We are lighter on our feet, more nimble, have disruptive tech in a space that is future forward and just in the early stages of its growth. We currently sit years ahead of the competition and all while we continue to work of the second and third iterations of AKIDA. The applications for our tech are almost limitless and we have a team who are hungry and growing by the week. Let the Big boys burn cash trying to solve problems we already have solutions for. I say bring it on.

 

[Toto111]

On my phone and the reference or link to this does not appear. Where did you find this quote?

By the way it should all be bold and underlined sent to the neon sign shop and half a dozen large signs made. Flashing and multi coloured and then we can throw in to rent space across from the offices of MF, AFR, HC and TMH.
FF

Here you go...

Products | MegaChips Corporation

We provide strategic solutions to solve your problems that range from ASIC to ASSP and module products leveraging our analog and digital technology.

megachips.com

 

[Dijon101]

On my phone and the reference or link to this does not appear. Where did you find this quote?

By the way it should all be bold and underlined sent to the neon sign shop and half a dozen large signs made. Flashing and multi coloured and then we can throw in to rent space across from the offices of MF, AFR, HC and TMH.
FF

HAHAHAHA

Yeah, my thoughts exactly.
Market validation in spades here with this one.


The intrinsic value of Brainchip?? How long is a piece of string?

All I know is I'm never selling.

 

[miaeffect]

I’ve said it before but I’ve set a 5 year timeframe to hold: before I take some cream off the top!

I’m very confident that all EAP’s now will have their products out, promoting Brainchip is inside. That will hopefully include Valeo, Denso, Cerence, NASA, Nanose, Renesas, Megachips and many others.

More customers will be queuing up and royalties flowing. Akida 1000, 500, 2000 will be on sale and 3000 on the work bench.

I know it’s hard to have to wait but the other option is to not hold now and pay more later.

I’m choosing the accumulate, have patients and hold. I’m looking forward to the future!

Same here. I will stay as it is forever.

 

[Learning]

I think they mean this ...AKIDA 2000 or whichever one nails the neocortex

Mercedes-Benz VISION AVTR | Mercedes-Benz Group

A new dimension of future human-vehicle interaction: Mercedes-Benz gives an outlook on possible applications of brain-computer interface technology in the car at the IAA MOBILITY

group.mercedes-benz.com

Cheer for that,

However, I would rather Mercedes use Akida1000 so Brainchip would see revenue sooner.

Its great to be a shareholder.

 

[Fact Finder]

Well this is bloody exciting.





"Brainchip features a unique neuromorphic processor which takes advantage of the sparse data streams associated with most edge applications to provide a very low power solution while maintaining high performance. The small footprint of the Brainchip IP makes it an ideal solution for low power, high volume applications.
Megachips’ engineering team is fully trained on Brainchip software and hardware and is prepared to work directly with our customers to evaluate the performance of the Brainchip Solution in your product.
Once selected MegaChips will work closely with our customers throughout the product development cycle, including licensing the SDK hardware and software, provide NN model consulting, and ensure the final design can be efficiently implemented into silicon."

I could literally Bold the whole statement.

I worked it out. You should have linked it to Rocket’s post. LOL

“Brainchip features a unique neuromorphic processor which takes advantage of the sparse data streams associated with most edge applications to provide a very low power solution while maintaining high performance. The small footprint of the Brainchip IP makes it an ideal solution for low power, high volume applications.
Megachips’ engineering team is fully trained on Brainchip software and hardware and is prepared to work directly with our customers to evaluate the performance of the Brainchip Solution in your product.
Once selected MegaChips will work closely with our customers throughout the product development cycle, including licensing the SDK hardware and software, provide NN model consulting, and ensure the final design can be efficiently implemented into silicon.

Key Features​

• Very low power – microwatts to milliwatts
• On chip learning – no need to retrain in the cloud
• Complete development system support
• Silicon-proven IP
• Software Development Kit available

Key Applications​

• Keyword spotting
• Always on detection
• Gesture recognition

• Network packet inspection
• Person/object classification
• Object detection”

Now first thing to say is I should have kept scrolling down.

Second thing is this is the most significant comprehensive client validation of the AKIDA technology solution we have publicly available on a daily world wide basis since the announcement of the AKIDA IP being available to licence.

We of course have had strong endorsements by Socionext and there presentation at the trade fair.

We have had the Renesas licence agreement but they have run in stealth since.

We have had Mercedes Benz make a public pronouncement.

Rob Lincourt of DELL technologies Podcast with Rob Telson was my favourite and I have a strong belief DELL will leap from the shadows at some point this year.

But this MegaChip statement is clearly the start of the beginning of Brainchip’s commercial ascendancy.

My opinion only DYOR
FF

AKIDA BALLISTA

 

[Dijon101]

I worked it out. You should have linked it to Rocket’s post. LOL

“Brainchip features a unique neuromorphic processor which takes advantage of the sparse data streams associated with most edge applications to provide a very low power solution while maintaining high performance. The small footprint of the Brainchip IP makes it an ideal solution for low power, high volume applications.
Megachips’ engineering team is fully trained on Brainchip software and hardware and is prepared to work directly with our customers to evaluate the performance of the Brainchip Solution in your product.
Once selected MegaChips will work closely with our customers throughout the product development cycle, including licensing the SDK hardware and software, provide NN model consulting, and ensure the final design can be efficiently implemented into silicon.

Key Features​

• Very low power – microwatts to milliwatts
• On chip learning – no need to retrain in the cloud
• Complete development system support
• Silicon-proven IP
• Software Development Kit available

Key Applications​

• Keyword spotting
• Always on detection
• Gesture recognition
• Network packet inspection
• Person/object classification
• Object detection”

Now first thing to say is I should have kept scrolling down.

Second thing is this is the most significant comprehensive client validation of the AKIDA technology solution we have publicly available on a daily world wide basis since the announcement of the AKIDA IP being available to licence.

We of course have had strong endorsements by Socionext and there presentation at the trade fair.

We have had the Renesas licence agreement but they have run in stealth since.

We have had Mercedes Benz make a public pronouncement.

Rob Lincourt of DELL technologies Podcast with Rob Telson was my favourite and I have a strong belief DELL will leap from the shadows at some point this year.

But this MegaChip statement is clearly the start of the beginning of Brainchip’s commercial ascendancy.

My opinion only DYOR
FF

AKIDA BALLISTA

100% should have linked to Rockets Post.

Guess it came from being surprised that a west ham supporter was able to post something other that a meme or gif