BRN Discussion Ongoing

[Mccabe84]

Really sorry dear, there is nothing clear from this screenshot. Even there is no brn mentioned anywhere.
Brainchip told us they will release top 20 holders with each 4c but they are tentatively keeping it in hiding from broader market.
As per known lists till date there is no mention of vanguard and associates in top 20.
May be they invested with another NDA that brainchip will not show top 20 to anyone.
Dyor

Click on the link that i provided and read the information yourself.. the evidence is there, only people who short the stock will deny it.

 

[perceptron]

I agree with the first point made about the "The key reasons influencing this decision are as follows:"

1. The US market is home to the world’s largest technology investment exchange and most of the
world’s largest semiconductor and Artificial Intelligence (AI) companies. It provides access to a
substantially larger and highly technologically sophisticated pool of potential investors on a
global scale. US technology sector investors are generally more familiar with AI technology
companies and have a deeper understanding of valuation methodologies for emerging
technology companies like BrainChip.

 

[FabricatedLunacy]

Another day in BRN La La Land… it would only be fair to match share count 1:1 if they swap over. But that won’t happen of course, so yeah I echo the concern of many here.

 

[rgupta]

Click on the link that i provided and read the information yourself.. the evidence is there, only people who short the stock will deny it.

Asx 300 company, 9 institutions with total holding of 50 million out of 2 billion floated shares, less than 2.5% and all are long holders, which means they are holding as regulatory holding of asx300 shares to operate as a fund.
By the way we issued 120 million odd shares for that credit raise which Sean claimed institutional buyers will open new books for Brn
Dyor

 

[Dijon101]

ANOTHER SPEEDING TICKET?!?!?!

GOOOOOO FUCK YOURSELF ASX!!!!

 

[DingoBorat]

Hi DingoBorat,
The only insider info I have is my gut instinct.
We are at a juncture where US government traction is happening. This momentum needs US market exposure!
Do you really feel staying on the ASX is sustainable? It has been very underwhelming and borderline poisonous.

We "could" chug along on here..
But yes it's slow going..

How much of your current piece of pie, are you willing to give up, for access to what the US investor market and Company prospects offer though?..

That's what is unknown at this stage.

It's more likely going to come at "some" price, to our personal exposure, that's the current uncertainty.

 

[DingoBorat]

The new Texas Stock Exchange, or TXSE, doesn't look like it will be our new home, if this article's information from October last year, is still the "plan"..

Client Challenge

"The head... ...pledged tougher listing standards than his New York rivals...

....the new exchange’s standards, including earnings tests, minimum prices and other... ...measures, would be stringent enough to in effect exclude more than a third of the companies listed on Nasdaq and the NYSE

(excerpts have been shortened)

 

[Shadow59]

I was initially worried about the switch, having nver traded outside of Australia, but apparently you can switch accounts within Commsec to trade internationally. So maybe no problem at all.

 

[Courier68]

I was initially worried about the switch, having nver traded outside of Australia, but apparently you can switch accounts within Commsec to trade internationally. So maybe no problem at all.

I set it up last night. Pretty straightforward. Just need your driving licence if you are already registered with Commsec.

 

[Baron Von Ricta]

Atleast you are persistent with the negative view points. Common mate, please stop. Anyone who knows where galaxycar lives please go around and give him a hug. Thanks in advance.

I think he needs to hop in his car and piss off to the W.A.N.C.A Galaxy.

 

[DingoBorat]

NASDAQ float requirement, is only 1.25 million shares NOT 1.25 "billion" like I said yesterday...

 

[BrainShit]

I did a quick Google on NYSE listing requirements (I didn't delve deeply) and the float requirement, is only 1.1 million shares, as compared with 1.25 Billion, with a B shares on the NASDAQ.

View attachment 78308

So no extra issues "required" there, but still a very large consolidation at current prices, to reach 4 USD per security price..
(if what I've shown is correct).

Nice announcenent to concider by the way... I see more advantages than disadvantages. But like to see a big IP deal much more...


To qualify for a Nasdaq IPO, companies must meet specific financial, governance, and disclosure criteria. Here are the key requirements:

Financial Requirements

- Stockholders' Equity: Minimum of $5 million (for Nasdaq Capital Market) or $15 million (for higher tiers)[1][3][5].

- Market Capitalization: At least $50 million or $75 million, depending on the listing standard[1][5].

- Public Float: Minimum of 1 million publicly held shares[3][5].

- Share Price: Minimum bid price of $4 per share (exceptions exist for lower prices under specific conditions)[3][8]. (e.g. a company may qualify under a closing price alternative of $3.00 or $2.00 if the company meets varying requirements.)

- Operating History: At least two years for some standards[1][5].


Corporate Governance

- A majority of independent directors on the board[1].

- An audit committee meeting Nasdaq standards[1].

- Compliance with SEC reporting requirements[3].


Shareholder and Market Maker Requirements

- At least 300 round lot shareholders (100 shares or more)[3][7].

- A minimum of three market makers[3].

Other Requirements
- Filing regular reports with the SEC and adhering to Nasdaq's disclosure rules[1][8].

- Payment of application and listing fees ranging from $50,000 to $295,000 depending on the number of shares listed[3].

Companies must meet at least one of Nasdaq's listing standards and complete the application process, including submitting financial and corporate governance documentation.

Sources:
[1] Listing Requirements for a Nasdaq IPO: What Companies Need to ... https://srfc.law/nasdaq-ipo-requirements/
[2] Rules | The Nasdaq Stock Market https://listingcenter.nasdaq.com/rulebook/nasdaq/rules
[3] What Are the Listing Requirements for the NASDAQ? - Investopedia https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/
[4] New NYSE and Nasdaq Listing Requirements https://www.bipc.com/new-nyse-and-nasdaq-listing-requirements
[5] NASDAQ Listing Requirements | Colonial Stock Transfer https://www.colonialstock.com/nasdaq-listings.htm
[6] Rules | The Nasdaq Stock Market https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5200-series
[7] Nasdaq Capital Market (Nasdaq-CM): Definition and Requirements https://www.investopedia.com/terms/n/nasdaq-smallcap-market.asp
[8] Principal listing and maintenance requirements and procedures https://resourcehub.bakermckenzie.c...g-and-maintenance-requirements-and-procedures
[9] [PDF] Nasdaq Permits Primary Direct Listings and Proposes Relaxation of ... https://www.skadden.com/-/media/fil...mitsprimarydirectlistingsandproposesrelax.pdf

 

[DingoBorat]

Nice announcenent to concider by the way... I see more advantages than disadvantages. But like to see a big deal much more...


To qualify for a Nasdaq IPO, companies must meet specific financial, governance, and disclosure criteria. Here are the key requirements:

Financial Requirements

- Stockholders' Equity: Minimum of $5 million (for Nasdaq Capital Market) or $15 million (for higher tiers)[1][3][5].

- Market Capitalization: At least $50 million or $75 million, depending on the listing standard[1][5].

- Public Float: Minimum of 1 million publicly held shares[3][5].

- Share Price: Minimum bid price of $4 per share (exceptions exist for lower prices under specific conditions)[3][8]. (e.g. a company may qualify under a closing price alternative of $3.00 or $2.00 if the company meets varying requirements.)

- Operating History: At least two years for some standards[1][5].


Corporate Governance

- A majority of independent directors on the board[1].

- An audit committee meeting Nasdaq standards[1].

- Compliance with SEC reporting requirements[3].


Shareholder and Market Maker Requirements

- At least 300 round lot shareholders (100 shares or more)[3][7].

- A minimum of three market makers[3].

Other Requirements
- Filing regular reports with the SEC and adhering to Nasdaq's disclosure rules[1][8].

- Payment of application and listing fees ranging from $50,000 to $295,000 depending on the number of shares listed[3].

Companies must meet at least one of Nasdaq's listing standards and complete the application process, including submitting financial and corporate governance documentation.

Sources:
[1] Listing Requirements for a Nasdaq IPO: What Companies Need to ... https://srfc.law/nasdaq-ipo-requirements/
[2] Rules | The Nasdaq Stock Market https://listingcenter.nasdaq.com/rulebook/nasdaq/rules
[3] What Are the Listing Requirements for the NASDAQ? - Investopedia https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/
[4] New NYSE and Nasdaq Listing Requirements https://www.bipc.com/new-nyse-and-nasdaq-listing-requirements
[5] NASDAQ Listing Requirements | Colonial Stock Transfer https://www.colonialstock.com/nasdaq-listings.htm
[6] Rules | The Nasdaq Stock Market https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5200-series
[7] Nasdaq Capital Market (Nasdaq-CM): Definition and Requirements https://www.investopedia.com/terms/n/nasdaq-smallcap-market.asp
[8] Principal listing and maintenance requirements and procedures https://resourcehub.bakermckenzie.c...g-and-maintenance-requirements-and-procedures
[9] [PDF] Nasdaq Permits Primary Direct Listings and Proposes Relaxation of ... https://www.skadden.com/-/media/fil...mitsprimarydirectlistingsandproposesrelax.pdf

What's this minimum of 3 "market makers"?
Would that be institutional investors?

 

[DingoBorat]

What's this minimum of 3 "market makers"?
Would that be institutional investors?

It's okay..

Market Maker Definition: What It Means and How They Make Money

Market makers compete for customer order flow by displaying buy and sell quotations for a guaranteed number of shares. They ensure market liquidity by

www.investopedia.com

 

[Gazzafish]

I prefer the theory that we are about to drop some large deals with large revenue and the BoD are just getting ready for us to move over to the USA because our share price will already meet the minimum requirements without any consolidation

 

[BrainShit]

What's this minimum of 3 "market makers"?
Would that be institutional investors?

Market makers provides liquidity by continuously quoting buy (bid) and sell (ask) prices for securities. They trade on their own account, profiting from the bid-ask spread. Their primary role is to ensure smooth market functioning by balancing supply and demand.

Like: Citadel Securities, Virtu Financial, and Goldman Sachs... BNP Paribas, Deutsche Bank, Liberum Capital, and Morgan Stanley

 

[HopalongPetrovski]

I think that is exaggeration, but definitely they need to a US company to secure such a deal in Trump times.
We all know ARFL contract and it is there for a year and they want to get US listing with in that time so that if things mature, contract need not wait too long.
But again an expectation. Only time will tell how management comes out with a plan to transition. If they are coming without a US investment, it may not be in our best interests. Anyway when they come up with a proposal they will need our votes again, before that we have AGM, but one thing I cannot get why they are hiding top 20 list even after the annual report?
Dyor

Top 20 list as at 11 February 2025 is on page 82 of the annual report.

 

[Iseki]

Now today has been a interesting day has’nt, anyone else feel that we are being screwed over by our own management now???
1. Don’t make any announcements that will push up the share price for 3-4 years.
2.Tell us that 2025 is gunna be a great year for the company and all the other bullshit over the last 3-4 years.
3 Hide everything behind NDA’S So shareholders haven’t got a clue what’s going on or if they even exist.
4. Make up more bullshit we have to move to the USstock exchange for the good of the company staying out of the reach of ASX prying eyes.
5 Shareholders value obliterated from say $1.50 to $0.25 cents.
6 We then list on the us stock exchange with our shares worth $0.10 after the massacre to come.
7.US NEWshareholders buy our shares for $0.10 a share.
Does anyone get the feeling that AMERICA,S Have just pulled of the biggest Theft of Australian technology ever seen and our us CEO wants us to trust and believe him and the board. Who have shown shareholders nothing but distance and avoidance over the last 4 years.
This AGM just got better this is the most disgusting ripoff of Australian shareholders since Alan bond days.
AGM VOTE AGAINST every FKN proposal put forward show them your not gunna be screwed over. If the shareprice was $2.00 fill yah boots I would be first to vote yes, but to give our shares away to the Americans.CON JOB BY OUR BOARD AND MANAGEMENT WRITTEN ALL OVER IT. $0.15 cents US Dollars if we’re lucky on the transfer Fk NO is my vote

If the current board can't make a substantial deal in the near future then they shouldn't be the ones to do the US flip.

The ASX is protecting us from unreasonable capital listings which would destroy our positions, while US exchange may not. This is possibly what the board doesn't like about the ASX.

 

[toasty]

I doubt whether this would even be raised if they didn't already know a majority of shareholders would approve. So far as the courts are concerned, it'll need a good story which Im sure they'll have by the time it gets there.

 

[yogi]

Embrace the impact fasten your seat belt