BRN Discussion Ongoing

[manny100]

Dolci is a trader, while I am a long-term shareholder who has given the current management ample time to deliver results.

I believe in the technology, but I have significant concerns about the current management’s track record.

Three and a half years into a five-year plan that no one has even seen, I cannot allow unaccountable management to continue unchecked .

The honeymoon period is over. The move to the USA stock market based on current fundamentals will be detrimental to our company.

As a shareholder, I cannot support such a move without substantial improvements in our company’s fundamentals.

From what Tony Lewis says in his linkedin post BRN has cracked the LLM egg.
If the BOD want this move to the US then they will need to come up with some positive client news apart from the technical advances mooted.
The BOD would be aware of this and I expect a continuation of the news flow.
The ANN said:
" 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".
Investors in the US might understand the tech world better than the rest but they will want to see runs on the board just like we do.
Its likely the BOD expect positive news sufficient to get a YES vote. After the positive news they will need canvas support from large holders before a vote.
I doubt they would take it to vote if they knew they had no chance of succeeding as the CEO and or the Chairman would be expected to resign.
A loss at meeting would be a huge rebuff.
That is why the ANN says " BrainChip to formally investigate redomiciling to the US in 2025" - Investigation only = will not
go to a meeting if the voting looks like a NO.
It appears Super funds will be NO votes unless they want to stooge their members.

 

[Pom down under]

Some questions for our CEO.

1. Why now? Given BrainChip’s declining fundamentals, wouldn’t it be better to strengthen the business first before attempting a U.S. listing?

2. Is this move about access to capital, or is it a way to escape the scrutiny of ASX investors?

3. If BrainChip struggles to gain investor confidence in Australia, why do you believe U.S. investors will react differently?

4. What evidence do you have that BrainChip would attract greater institutional interest in the U.S., despite its current

5. Does the company have enough revenue growth and profitability potential to justify a U.S. listing, or is this simply a liquidity play?

6. BrainChip’s fundamentals are currently weak—how will a U.S. listing change that? Are you expecting a valuation boost simply because of a different market?

7. Has BrainChip engaged with U.S. investors already? If so, what feedback have you received?

8. Are you concerned that the U.S. market, particularly Nasdaq, could be even more unforgiving to BrainChip’s financial struggles than the ASX?

9. What contingency plans do you have if the move does not result in improved market confidence or liquidity?

10. Are you prepared for the potential backlash from Australian retail investors who may feel abandoned by this decision?

11. How will this impact BrainChip’s ability to raise capital in the short term? If the fundamentals don’t improve, will a U.S. listing really make fundraising easier?

12. Does this move suggest that management has failed to turn the company around and is looking for an exit strategy?

13. How much of this decision is being driven by leadership incentives rather than actual long-term shareholder value?

14. Will there be any changes in executive compensation or leadership structure as part of this move?

 

[manny100]

Some questions for our CEO.

1. Why now? Given BrainChip’s declining fundamentals, wouldn’t it be better to strengthen the business first before attempting a U.S. listing?

2. Is this move about access to capital, or is it a way to escape the scrutiny of ASX investors?

3. If BrainChip struggles to gain investor confidence in Australia, why do you believe U.S. investors will react differently?

4. What evidence do you have that BrainChip would attract greater institutional interest in the U.S., despite its current

5. Does the company have enough revenue growth and profitability potential to justify a U.S. listing, or is this simply a liquidity play?

6. BrainChip’s fundamentals are currently weak—how will a U.S. listing change that? Are you expecting a valuation boost simply because of a different market?

7. Has BrainChip engaged with U.S. investors already? If so, what feedback have you received?

8. Are you concerned that the U.S. market, particularly Nasdaq, could be even more unforgiving to BrainChip’s financial struggles than the ASX?

9. What contingency plans do you have if the move does not result in improved market confidence or liquidity?

10. Are you prepared for the potential backlash from Australian retail investors who may feel abandoned by this decision?

11. How will this impact BrainChip’s ability to raise capital in the short term? If the fundamentals don’t improve, will a U.S. listing really make fundraising easier?

12. Does this move suggest that management has failed to turn the company around and is looking for an exit strategy?

13. How much of this decision is being driven by leadership incentives rather than actual long-term shareholder value?

14. Will there be any changes in executive compensation or leadership structure as part of this move?

Very good questions but doubt you will get many answers.
I am a long term holder and accumulator who has also taken advantage of the large occasional unstainable moves up over the years to lighten. If i was convinced that there was no future for BRN i would sell up all on humps and move on.
AKIDA 1000 was first offered as developments kits in October 2021 and in Jan'22 made available for purchase. From then engagements would have accumulated. Slowly at first but built up over time. Gen 2 and TENNs later.
I would expect as a matter of course expect that a growing number of these engagements would be finalised this year.
Since Sept'24 we have seen some positives come through but if this does not continue and escalate during this year there will be problems.
Talking about trading. Those buying now will make a handy profit if a hump on good news takes it back to the last 2 very recent highs of 41.5 and 45 cents.

 

[manny100]

View attachment 78830

I have hope!!!

View attachment 78831

Thanks, so BRN is using FPGA to crack the LLM egg.

 

[genyl]

It would simply be a disaster if they got listed on a US exchange without any significant improvement in revenue. Otherwise we will get crushed 100 %. Very important to mention this at the annual meeting if the situation havent improved by then.

 

[FJ-215]

Some questions for our CEO.

1. Why now? Given BrainChip’s declining fundamentals, wouldn’t it be better to strengthen the business first before attempting a U.S. listing?

2. Is this move about access to capital, or is it a way to escape the scrutiny of ASX investors?

3. If BrainChip struggles to gain investor confidence in Australia, why do you believe U.S. investors will react differently?

4. What evidence do you have that BrainChip would attract greater institutional interest in the U.S., despite its current

5. Does the company have enough revenue growth and profitability potential to justify a U.S. listing, or is this simply a liquidity play?

6. BrainChip’s fundamentals are currently weak—how will a U.S. listing change that? Are you expecting a valuation boost simply because of a different market?

7. Has BrainChip engaged with U.S. investors already? If so, what feedback have you received?

8. Are you concerned that the U.S. market, particularly Nasdaq, could be even more unforgiving to BrainChip’s financial struggles than the ASX?

9. What contingency plans do you have if the move does not result in improved market confidence or liquidity?

10. Are you prepared for the potential backlash from Australian retail investors who may feel abandoned by this decision?

11. How will this impact BrainChip’s ability to raise capital in the short term? If the fundamentals don’t improve, will a U.S. listing really make fundraising easier?

12. Does this move suggest that management has failed to turn the company around and is looking for an exit strategy?

13. How much of this decision is being driven by leadership incentives rather than actual long-term shareholder value?

14. Will there be any changes in executive compensation or leadership structure as part of this move?

You and your swarny logic!!!!

Umm.....

 

[schuey]

Reason why it isn’t?

Just following the trend

 

[TheDrooben]

400%. | Samir Jaber

400%. That’s how much IoT malware attacks have surged in just one year. With manufacturing, energy, and healthcare relying more on connected devices, cyber threats at the edge are escalating. But here’s the problem: most security systems weren’t built for the edge. They drain power. They...

www.linkedin.com

 

[jtardif999]

https://www.marketindex.com.au/asx/brn/announcements/fourth-amendment-to-lda-put-option-agreement-2A1572233

4th amendment with LDA where LDA can provide upto 140 million dollars to brainchip out of which 68 million is already drawn. Condition of amendment brainchip must draw down 20 million. Upto 30 june 2025.
With new amendment they increase brainchip draw down by 37 million.
So if we did not need that extra 37 million we may not do 20 million. drawdown before 30 th June 2025, we can still get upto 35 million more.
Now after 20 million of draw down we have another limit of 52 million. That limit expires on June 2026.

Dyor

The draw down on 20 million is 6/26 not 6/25.

 

[Getupthere]

The pricing period during which shares can be sold begins on or near 7 March 2025 and will end


the sooner of 30 April 2025 or when shares have been fully subscribed by LDA. The issue price of


the shares will be 91.5% of the higher of the average of the daily volume weighted average price


(VWAP) of shares over the pricing period and the minimum price notified to LDA by the Company.

This stops before the AGM.

 

[Pom down under]

The pricing period during which shares can be sold begins on or near 7 March 2025 and will end


the sooner of 30 April 2025 or when shares have been fully subscribed by LDA. The issue price of


the shares will be 91.5% of the higher of the average of the daily volume weighted average price


(VWAP) of shares over the pricing period and the minimum price notified to LDA by the Company.

This stops before the AGM.

So they should cover all the open shorts before they AGM

 

[jtardif999]

100% agree with you. Apple, google can take decisions because they are profit making companies and their management have an established reputation. These companies are worth trillions of dollars and one executive order from Trump can kill them.
In case of brainchip we are not established, just moving to US without any positivity will only ruin us. On top how many holders are confident with current management that they will do in best interests of holders? And upto now how many times they taken the right decisions?
So let the management proved their worth to us before asking any sacrifice.
Dyor

Ok rgupta I think everyone gets your message. If you keep repeating yourself it just becomes spam. I think we all need to wait and see what the company provides in the way of a path forward to moving to the US. There are two things that they have said that we should hold on to here;
1) they’ve said a number of times that 2025 will be a make or break year - so we should expect more significant news to make the share price move north before any move.
2) they will provide more details on the move closer to the AGM and we should expect them to explain EVERYTHING about it to us and not expect anything less.

 

[JB49]

In 2023 Paul stated the following of Brainchip when we announced we have validated Akida in the Arm Cortex M85 processor:
“In order to serve the diverse and growing IoT market, developers require a new standard of secure, high-performance microcontrollers, combined with endpoint ML capabilities,” said Paul Williamson, SVP and GM, IoT Line of Business at Arm. “The integration of Arm’s highest performance microcontroller with the Akida portfolio enables our partners to deliver on this potential and efficiently handle advanced machine learning workloads.”

Note in the presentation he mentions - What my team work on typically takes at least five years till it's appearing in the market. So the technology my team are defining today goes to our fantastic silicon Partners like Scott and they put that into devices that we then need to make to available to Developers for about five years in the future. So we're constantly scanning the Horizon of what compute needs will exist in the world in 10 years time.

 

[Iseki]

Currently our Patents hold our true value, and it's much more than 410 Million AUD or more to the point 258.3 Million USD

Please, can we ALL be honest, I'm 10 years in, like many other long termers, it has not been an easy journey, yet I, like many I'd
suggest are to a point, emotionally rusted on, we believe in Peters et al technology, we question the resistance to 100% commitment
by major companies, who sing our praises, I fully understand why we turned on a dime when Sean sold his 5 year business plan to the
Board, we simply couldn't afford to go the chip route on our own, some seem to have conveniently forgotten about the near on 21
million AUD that was wasted on the "Studio" path, it was not good, I can't share what I know about Studio, but it wasn't as good as
many first thought.

Akida 1000 was born, and it was brilliant, it's so good it's being referenced as I speak, yes we now have AKD 1500, yes we now have
AKD II, but the communication from within the company to shareholders has been what I'd term mildly misleading, has it been taped
out, is it being taped out, has another entity taken charge of the fab process etc etc.

Then we have TENN's....yes it appears to be brilliant, space state models, yes we are engaged with very big market players, BUT many of
us are really frustrated, we have such a great technology, we have such a great team, all have the integrity that makes me want to stay
invested, but the allegedly 100 plus NDA's, I simply don't believe that anymore, I'm sorry, I just don't buy those comments any longer.

I trust Peter and Anil 100%......but as mentioned before, by mid 2026, which is so generous, that's 11.5 years of waiting for stable revenue,
I will be done....we need solid results, not solid lines joining dots !

I'm not normally this negative, but the suppression or manipulation of our share price seems to be getting the better of me lately.

I apologize for the moaning..............Tech

Well said, and love your commitment to BRN. I'm in similar position and will one day soon pull my support from BRN to support my kids.

Investing in BRN is an exciting/frustratimng ride and the only issue I have is that while we obviously have the technology to do great things, the use-cases we come up with are not exciting.

we desperatly need use cases that disrupt existing profitable markets. eg networking, games etc, instead we are looking to invent new use-cases that do things that no one else can do as a means of "validating" what we know works.

Why don't we have a homebuilt router where the cybersecurity is pushed to at least FPGA hardware?
Why aren't we working with a video game developer to put generative AI in a hand held device?
We need LLM's that contexturalize our personal data, not fridge trouble shooting guides.
etc, etc

Only extremely popular use-cases will be able to justify making a chip specific to that data model, so it's a mistake to chase use cases that would only meet the needs of a small market.

Remember the Hitchhikers guide? Give us glasses that tell us when we are stressed, not when we are about to have a seizure because we forgot to take our medication.

 

[Smoothsailing]

I believe we do have at least one of the suggestions you have mentioned below, eg Nintendo and the router is under development with quantum venture’s.

Why don't we have a homebuilt router where the cybersecurity is pushed to at least FPGA hardware?
Why aren't we working with a video game developer to put generative AI in a hand held device?
We need LLM's that contexturalize our personal data, not fridge trouble shooting guides.
etc, etc

 

[Pom down under]

➡️ Time for some exciting news! | Magnus Östberg

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Welcome to part two of my #MBOS mini-series. | Magnus Östberg

Welcome to part two of my #MBOS mini-series. This time, I wanted to talk about how we’ve been able to achieve our key objective, which is to deliver a radically new and personalised user experience. MB.OS is our comprehensive new chip-to-cloud architecture that will be central to every future...

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[HopalongPetrovski]

Ok rgupta I think everyone gets your message. If you keep repeating yourself it just becomes spam. I think we all need to wait and see what the company provides in the way of a path forward to moving to the US. There are two things that they have said that we should hold on to here;
1) they’ve said a number of times that 2025 will be a make or break year - so we should expect more significant news to make the share price move north before any move.
2) they will provide more details on the move closer to the AGM and we should expect them to explain EVERYTHING about it to us and not expect anything less.

Agree. If they expect us to vote on the proposed transfer to an American exchange at the AGM, then I would expect more definitive explanations and likely share price boosting announcements sometime over the next month or so.
They won't want to leave it too close to the event as some people will potentially be casting their votes early and about this time will be starting to clash with both Easter and a federal election.
The way naysayer's are whipping up negatives around this the BOD needs something that will curry favour amongst a weary group of holder's and swing support their way.
Hopefully they will be able to provide a couple or a few revenue producing partnerships during this time to both shore up investor support and energise the LDA credit raising.

Even if, however, they are intending to hold an EGM later in the year to try and pass the redomicile they must still be expecting it to be the hot topic at this AGM and I guess that will be the latest we will have to wait to get more detailed information and projected timelines.

At the very least I hope they are cognisant of the potential issues faced by many of us with holdings in super funds and do whatever is within their power that promotes a bump in valuation so we can exit (if need be) with some dignity and perhaps a little profit.

 

[Diogenese]

Agree. If they expect us to vote on the proposed transfer to an American exchange at the AGM, then I would expect more definitive explanations and likely share price boosting announcements sometime over the next month or so.
They won't want to leave it too close to the event as some people will potentially be casting their votes early and about this time will be starting to clash with both Easter and a federal election.
The way naysayer's are whipping up negatives around this the BOD needs something that will curry favour amongst a weary group of holder's and swing support their way.
Hopefully they will be able to provide a couple or a few revenue producing partnerships during this time to both shore up investor support and energise the LDA credit raising.

Even if, however, they are intending to hold an EGM later in the year to try and pass the redomicile they must still be expecting it to be the hot topic at this AGM and I guess that will be the latest we will have to wait to get more detailed information and projected timelines.

At the very least I hope they are cognisant of the potential issues faced by many of us with holdings in super funds and do whatever is within their power that promotes a bump in valuation so we can exit (if need be) with some dignity and perhaps a little profit.

"Curry flavour"? - why do you think we are moving to India?

 

[Iseki]

I believe we do have at least one of the suggestions you have mentioned below, eg Nintendo and the router is under development with quantum venture’s.

Why don't we have a homebuilt router where the cybersecurity is pushed to at least FPGA hardware?
Why aren't we working with a video game developer to put generative AI in a hand held device?
We need LLM's that contexturalize our personal data, not fridge trouble shooting guides.
etc, etc

Hope so.

Re the cybersecurity: Let's make it official with an agreement between us and QV, with a budget and a timeframe. Send out an EOI to all the big network hardware providers. Make an ann. to the ASX. Drive the SP higher.

Re nintendo: Let's get a deal to provide them with ML software to add to their proprietary game engine that would work with akida2. Ann it to ASX. Sendout an EOI to all the game developers for nintendo. Make another ann to ASX, drive the SP higher.

 

[Bravo]

MSN

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