BRN Discussion Ongoing

[Xhosa12345]

Looking forward to the MF article...

Why the Brainchip CEO is selling out!

It's no coincidence that Motley Fool and Mother Fuckers have the same initials.

Yeah only thing ill say is (my understanding) tax on this isnt due on this until 2023 tax return, payable likely may 2024. So he has sold the tax amount to put aside the cash until that time.

As he us taxed on the value at the time of conversion, he sold the shares to cover the tax at the same prices. This is an astute and conservative way to do it.

If he thought share price was going to fly he could have sold less shares later to get the same cash....around the time his tax is due.

All imo and assuming he is australian tax resident. If hes not, then different rules would apply which may explain why he has to pay the tax now.

Of course if he thought share price was going to tank he couldve turfed the lot.... which is also important

 

[Space Cadet]

I have not been experiencing this problem. I thought would try a Google search and it took 7 pages of Brainchip entries before the first Musk one popped up. Must be the way I type. Anyway the exercise was not wasted as I found the following link which is now one to be kept an eye on by the 1,000 eyes in case anything interesting comes up covering heavy rail and Loyal Wingman in the future:

BrainChip - Advanced Manufacturing Growth Centre​

https://www.amgc.org.au › members › brainchip


The Akida™ neuromorphic processor from BrainChip is a versatile neuromorphic processor chip that can be used in a vast variety of sensor classification"

My opinion only DYOR
FF

AKIDA BALLISTA

US looking closely at Loyal wingman. Decision not far off.

https://www.aero-mag.com/mq-28-next-generation-air-dominance-24082022

SC

 

[alwaysgreen]

I stumbled upon this article explaining neuromorphic AI:
"Combined with the high costs and complexity of the technology, the accuracy issue leads many to prefer traditional software."

"Neuromorphic computing software has not caught up with the hardware."

"Neuromorphic computers aren't available to nonexperts. Software developers have not yet created application programming interfaces, programming models and languages to make neuromorphic computers more widely available."

So I felt compelled to write to the guy:

Dear Nick Barney,


It´s always nice to see somebody explaining neuromorphic computing and I think it´s very relevant. Conventional AI models are hitting a brick wall of exponential increasing needs of processing power, that neuromorphic computing can solve. Also considering our environment, neuromorphic computing is a much more future proof solution.


I believe that you´re not aware of a fully working and commercially available neuromorphic chip called Akida from Brainchip. It has a working IDE and can accept existing DNN models. There´s even an Akida 2 on the horizon.


It will be sold primarily as IP licenses for a few dollars for a complete chip and can be licensed as IP blocks for individual parts of the design, but can also be purchased as a a PCIe board, a Shuttle computer or a Raspberry Pi kit:

Akida™ PCIe Board

Specifications ARM Cortex-M4 32-bit 300MHz (Subblock of Akida) RAM: 256M x 16 bytes LPDDR4 SDRAM @ 2400MT/s FLASH: Quad SPI 128Mb NOR 12.5MHz Onboard Akida core current monitor Operates under Linux on arch or x 86-64 architectures Installation and Bringup GPIO: 2 LED's Interfaces: 5GT/s PCI...

shop.brainchipinc.com

Akida™ Development Kit - Raspberry Pi

Specifications SoC: Broadcom BCM2711C0 quad-core ARM Cortex-A72 (ARMv8-A) 64-bit @ 1.5GHz GPU: Broadcom VideoCore VI RAM: 1GB, 2GB, 4GB, or 8GB LPDDR4 SDRAM Networking: GB Ethernet and Optional WI-FI Includes Akida on PCle Board installed in the development kit Includes Meta TF Software...

shop.brainchipinc.com

Akida™ Development Kit - Shuttle PC

Specifications Storage – SATA / M.2 1x 2.5" bay for SATA hard disk or SSD, max. 9.5 mm 1x M.2-2280M slot (supports PCIe x4 NVMe or SATA) 1x M.2-2230AE for an optional WLAN card Connectors HDMI 2.0a D-Sub VGA 4x USB 3.2 Gen1 4x USB 2.0 1x USB 2.0 internal USB stick 2x audio (line out, mic) Intel...

shop.brainchipinc.com

Further amongst the very compelling advantages of Akida is the one-shot-learning on device, I´m not aware of any other system that can do this.


Brainchip contracts with MegaChips and Rensas, further they are recently incorporated into the ARM ecosystem. It´s already integrated into several prototypes, one of them is the new Mercedes Vision EQXX, but you can study the included chart.


So neuromorphic computing is in production, available, powerful and being adopted by the market place.


Best regards,
Frederik Grøn Schack

Will be interesting to see his response.

 

[alwaysgreen]

Yeah only thing ill say is (my understanding) tax on this isnt due on this until 2023 tax return, payable likely may 2024. So he has sold the tax amount to put aside the cash until that time.

As he us taxed on the value at the time of conversion, he sold the shares to cover the tax at the same prices. This is an astute and conservative way to do it.

If he thought share price was going to fly he could have sold less shares later to get the same cash....around the time his tax is due.

All imo and assuming he is australian tax resident. If hes not, then different rules would apply which may explain why he has to pay the tax now.

Of course if he thought share price was going to tank he couldve turfed the lot.... which is also important

He is definitely not an Australian resident.

Not sure of the US tax rules but a quick google shows this

Charles Schwab

www.schwab.com

Taxation. With RSUs, you are taxed when the shares are delivered, which is almost always at vesting. Your taxable income is the market value of the shares at vesting. You have compensation income subject to federal and employment tax (Social Security and Medicare) and any state and local tax.

 

[HopalongPetrovski]

Yeah only thing ill say is (my understanding) tax on this isnt due on this until 2023 tax return, payable likely may 2024. So he has sold the tax amount to put aside the cash until that time.

As he us taxed on the value at the time of conversion, he sold the shares to cover the tax at the same prices. This is an astute and conservative way to do it.

If he thought share price was going to fly he could have sold less shares later to get the same cash....around the time his tax is due.

All imo and assuming he is australian tax resident. If hes not, then different rules would apply which may explain why he has to pay the tax now.

Of course if he thought share price was going to tank he couldve turfed the lot.... which is also important

I think we can safely assume he is acting on professional advise relevant to the tax jurisdiction he is subject too, as any reasonable person would.
Reading anything further into this matter is purely hypothetical.
I would think he would most likely be subject to American tax rulings and being based there can no doubt argue his income is earned there.

 

[Xhosa12345]

I think we can safely assume he is acting on professional advise relevant to the tax jurisdiction he is subject too, as any reasonable person would.
Reading anything further into this matter is purely hypothetical.
I would think he would most likely be subject to American tax rulings and being based there can no doubt argue his income is earned there.

Yeah agree re usa, and i was just googling the american rules and they can hit you with the tax straight away.

If so,nothing to see here, and move on!

As i said, if he had worries he would have flogged the lot!

 

[FrederikSchack]

I stumbled upon this article explaining neuromorphic AI:
"Combined with the high costs and complexity of the technology, the accuracy issue leads many to prefer traditional software."

"Neuromorphic computing software has not caught up with the hardware."

"Neuromorphic computers aren't available to nonexperts. Software developers have not yet created application programming interfaces, programming models and languages to make neuromorphic computers more widely available."

So I felt compelled to write to the guy:

Dear Nick Barney,


It´s always nice to see somebody explaining neuromorphic computing and I think it´s very relevant. Conventional AI models are hitting a brick wall of exponential increasing needs of processing power, that neuromorphic computing can solve. Also considering our environment, neuromorphic computing is a much more future proof solution.


I believe that you´re not aware of a fully working and commercially available neuromorphic chip called Akida from Brainchip. It has a working IDE and can accept existing DNN models. There´s even an Akida 2 on the horizon.


It will be sold primarily as IP licenses for a few dollars for a complete chip and can be licensed as IP blocks for individual parts of the design, but can also be purchased as a a PCIe board, a Shuttle computer or a Raspberry Pi kit:

Akida™ PCIe Board

Specifications ARM Cortex-M4 32-bit 300MHz (Subblock of Akida) RAM: 256M x 16 bytes LPDDR4 SDRAM @ 2400MT/s FLASH: Quad SPI 128Mb NOR 12.5MHz Onboard Akida core current monitor Operates under Linux on arch or x 86-64 architectures Installation and Bringup GPIO: 2 LED's Interfaces: 5GT/s PCI...

shop.brainchipinc.com

Akida™ Development Kit - Raspberry Pi

Specifications SoC: Broadcom BCM2711C0 quad-core ARM Cortex-A72 (ARMv8-A) 64-bit @ 1.5GHz GPU: Broadcom VideoCore VI RAM: 1GB, 2GB, 4GB, or 8GB LPDDR4 SDRAM Networking: GB Ethernet and Optional WI-FI Includes Akida on PCle Board installed in the development kit Includes Meta TF Software...

shop.brainchipinc.com

Akida™ Development Kit - Shuttle PC

Specifications Storage – SATA / M.2 1x 2.5" bay for SATA hard disk or SSD, max. 9.5 mm 1x M.2-2280M slot (supports PCIe x4 NVMe or SATA) 1x M.2-2230AE for an optional WLAN card Connectors HDMI 2.0a D-Sub VGA 4x USB 3.2 Gen1 4x USB 2.0 1x USB 2.0 internal USB stick 2x audio (line out, mic) Intel...

shop.brainchipinc.com

Further amongst the very compelling advantages of Akida is the one-shot-learning on device, I´m not aware of any other system that can do this.


Brainchip contracts with MegaChips and Rensas, further they are recently incorporated into the ARM ecosystem. It´s already integrated into several prototypes, one of them is the new Mercedes Vision EQXX, but you can study the included chart.


So neuromorphic computing is in production, available, powerful and being adopted by the market place.


Best regards,
Frederik Grøn Schack

And this is why we need Neuromorphic computing for the sake of the environment:

The need for energy-efficient computing

Computing is consuming a large and ever-growing fraction of the world's energy capacity. I've seen the essential data in this figure several...

nanoscale.blogspot.com

 

[wilzy123]

if he had worries he would have flogged the lot

It literally could not be any more obvious why he sold what he sold, and nothing more.

 

[TECH]

Good morning,

For the ones who enjoy reading up on all things Neuromorphic, the founders next book won't be appearing in all leading
bookstores this Christmas holiday season.

I was speaking with Peter the other evening and asked him if he was in fact still working on his latest writings, which he has started
on, but because of his heavy workload only spends a moment here and there on it at present and there is still more research to be done.

So, watch this space, his last book "Higher Intelligence" did in fact take about 2 years to complete, before leaving the publisher.

Chris Stevens moved over from Syntiant Corp to Brainchip Inc because of the "Culture" so I guess you could say "Culture Won"

Lots of great detective work going on, we all appreciate the amount of time and effort going on by a number of key posters, so thanks.

Texta

 

[Fact Finder]

I think we can safely assume he is acting on professional advise relevant to the tax jurisdiction he is subject too, as any reasonable person would.
Reading anything further into this matter is purely hypothetical.
I would think he would most likely be subject to American tax rulings and being based there can no doubt argue his income is earned there.

I have to come out of the closet on this one and confess that when I am alone and my wife cannot hear me typing I talk ‘sssh’ US tax law with the CFO Ken Scarince.

Sean Hehir is a US Citizen domiciled in the US so US tax law applies.

Sometime back I was given some insight into US tax law where shares are paid as salary and yes the liability arises immediately and wait for this really exciting part:

The CEO will also have the privilege of paying tax on the capital gains in due course when he sells the balance and this can lead to an effective tax rate in accounting terms of 96% if not handled correctly.

Correct advice and timing are required. It is just so exciting. Back in the closet I go.

My opinion only DYOR
FF

AKIDA BALLISTA

 

[Fullmoonfever]

I have to come out of the closet on this one and confess that when I am alone and my wife cannot hear me typing I talk ‘sssh’ US tax law with the CFO Ken Scarince.

Sean Hehir is a US Citizen domiciled in the US so US tax law applies.

Sometime back I was given some insight into US tax law where shares are paid as salary and yes the liability arises immediately and wait for this really exciting part:

The CEO will also have the privilege of paying tax on the capital gains in due course when he sells the balance and this can lead to an effective tax rate in accounting terms of 96% if not handled correctly.

Correct advice and timing are required. It is just so exciting. Back in the closet I go.

My opinion only DYOR
FF

AKIDA BALLISTA

Further to that, it would appear it is a common practice in the US tech industry.


RSU Taxes - A tech employee's guide to tax on restricted stock units | Ageras

Many employees receive restricted stock units (RSUs) as a part of their compensation, particularly in the tech industry.

In order to make employee compensation more manageable for tech companies, at least a portion of it can be paid in the form of stock. In addition to reducing the amount of cash, employers have to give out, this type of compensation serves as an incentive for employees to perform well.

Restricted stock units are technically a promise of future stock. As a result, you own nothing, and the IRS won't tax you until you do.

As soon as your vesting period ends, your stock units become real. This is when your stock becomes yours. After this date, your stock becomes yours without restrictions. This is known as the vesting date. As part of your compensation from your employer, your new stocks are taxed as ordinary income.

Upon vesting, the IRS will tax you on the value of your shares.

 

[mkm109]

Yeah only thing ill say is (my understanding) tax on this isnt due on this until 2023 tax return, payable likely may 2024. So he has sold the tax amount to put aside the cash until that time.

As he us taxed on the value at the time of conversion, he sold the shares to cover the tax at the same prices. This is an astute and conservative way to do it.

If he thought share price was going to fly he could have sold less shares later to get the same cash....around the time his tax is due.

All imo and assuming he is australian tax resident. If hes not, then different rules would apply which may explain why he has to pay the tax now.

Of course if he thought share price was going to tank he couldve turfed the lot.... which is also important

I think you will find that the shares are actually sold by BRN prior to handing the remainder of shares to the CEO and the proceeds are used to pay the tax liability which is due immediately, that is why it is sold in the following day

 

[Fact Finder]

Further to that, it would appear it is a common practice in the US tech industry.


RSU Taxes - A tech employee's guide to tax on restricted stock units | Ageras

Many employees receive restricted stock units (RSUs) as a part of their compensation, particularly in the tech industry.

In order to make employee compensation more manageable for tech companies, at least a portion of it can be paid in the form of stock. In addition to reducing the amount of cash, employers have to give out, this type of compensation serves as an incentive for employees to perform well.

Restricted stock units are technically a promise of future stock. As a result, you own nothing, and the IRS won't tax you until you do.

As soon as your vesting period ends, your stock units become real. This is when your stock becomes yours. After this date, your stock becomes yours without restrictions. This is known as the vesting date. As part of your compensation from your employer, your new stocks are taxed as ordinary income.

Upon vesting, the IRS will tax you on the value of your shares.

I probably should have made this clear it is what price the shares closed at on the vesting date which is what the tax is calculated on.

So in a falling market you would need to sell more to pay your income tax and in a rising market you will not only be selling to pay your tax but to pay the capital gains tax on the difference.

It gets complicated ideally you would be best served by selling at the vesting price so as not to invite capital gains tax or if the price falls needing to sell more to pay the income tax.

A CEO who does the sensible lawful thing would always be my first choice to head a company in which I am invested.

My opinion only DYOR
FF

AKIDA BALLISTA

 

[FrederikSchack]

I´m on the other side of the globe, so I was heading to bed, but then it hit me, one of the MAJOR selling points for Akida, if not the biggest of them all.

So the article I referenced before is predicting that roughly 40% of our electricity (10% of world energy) will be consumed by computing by 2030, assuming a continued slow INCREASE in electricity production and continued increas in computning.... (notice the exponential scale).

The need for energy-efficient computing

Computing is consuming a large and ever-growing fraction of the world's energy capacity. I've seen the essential data in this figure several...

nanoscale.blogspot.com

BUT... The world leaders united behind the Paris agreement thinks we´re going to reduce CO2 output by 55%... BELOW 1990 levels!! It´s utter and completely unrealistic to do this by switching to alternative energy, carbon capture and even nuclear energy in that timeframe, except some catastrophic event. (so far all our investments in solar and wind provide us with 3% of our total energy in the world and nuclear plants generally takes a decade to develop).

AND... We´re probably at the point where we can´t push the efficiency of IC´s much further.

So, if we don´t change the way we do computing RADICALLY, then we first of all are not going to be able to get even close to our soft self defined Paris agreement limit, computing might in itself spew out more CO2 than the climate goals. Even worse we´re going to hit some hard limit where we just can´t produce enough energy for both computing and everything else we do and it may only be a decade into the future.

There are a lot of stuff in the laboratories around the world, but the only thing on the market that really seems to fit the bill is AKIDA.

How is this not the major selling point for Akida?

Now I have to go to bed

 

[Fact Finder]

Another opening at the Brainchip marketing team:

"Come join the company leading the technological revolution in artificial intelligence. BrainChip is a global technology company producing a groundbreaking neuromorphic processor that brings artificial intelligence to the edge in a way that is beyond the capabilities of other products.

We are the world’s first commercial producer of ultra-low-power and high-performance artificial intelligence technology processors that enables a wide array of applications such as self-driving cars, hearing aids, drones, and agricultural equipment. The event-based neural network processor is inspired by the spiking nature of the human brain and is implemented in an industry-standard digital process.

Our company was recognized as one of the “Startups Worth Watching in 2021” in EE Times’ annual Silicon 100 list of global semiconductor technologies and our founder was named the winner of the AI Hardware 2021 Innovator Award. We have offices in Laguna Hills, California; Toulouse, France; Hyderabad, India; and Perth, Australia. We are also publicly traded on the Australian Stock Exchange (BRN:ASX) and the OTC Market (BRCHF).

Job Title: Corporate Marketing Manager

Reports To: Chief Marketing Officer

Department: Marketing

SUMMARY:

A principal goal for the Corporate Marketing Manager is to develop, implement, and execute marketing programs for BrainChip, Inc. to improve market positioning, and attract potential customers and increase the value of existing ones.

ESSENTIAL JOB DUTIES AND RESPONSIBILITIES:

• Finalize the completion and integration of BrainChip rebrand, ensuring that brand-compliant assets are integrated throughout the business
• Manage the re-build of the company’s website based on rebrand, leveraging existing site infrastructure
• Integrate site measurement and analytics
• Integrate and optimize demand to lead generation programs
• Manage content calendar for PR, whitepapers, blogs, social
• Presentation and collateral development
• Develop and execute marketing processes and deliverables
• Collaborate with, and manage media organizations and advertising agencies
• Work closely with sales and product delivery team to optimize sales enablement programs
• Analyse data to evaluate the success of their marketing efforts and come up with new ideas to improve brand marketing and exposure
• Travel, as required to Laguna office (20%). Travel to events and customers as needed (<5%)

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education/Experience:​

• Bachelor of Science in Marketing or Business Administration. Master’s degree preferred.
• At least 5 Years’ extensive knowledge of and experience with various marketing strategies and digital tools used to implement a campaign
• Minimum of 5 Years’ experience developing marketing strategies for companies and products

Other Skills and Abilities:

• Proven ability to manage complex marketing projects
• Proven ability to build and maintain relationships with department heads and outside agencies
• Excellent analytical skills to forecast and identify marketing trends and challenges
• Excellent communications and presentations skill
• Professional judgement and discretion
• Experience leading creative development and campaign creation
• Ability to effectively prioritize and manage multiple tasks to meet deadlines"

 

[Slade]

I love announcements about CEOs selling shares.

 

[Slade]

Winner of the AI Hardware 2021 Innovator award.

 

[BaconLover]

I look forward to the day, if it ever comes, when one of the management/director/key personnel actually BUYS a few shares (may be they can afford $1000?).

Now that'd be a nice change.

I do understand the tax purposes perspective, but does it warrant nearly 50% of his fully paid ordinary shares? Rhetorical question, may be my expectations are too much.

Every company on ASX is doing share buy backs to support the share price, I don't expect BRN to do the same in this present stage of the company, but ffs, they could at least not dump the shares? Sean has been in the office only for a few months

 

[HopalongPetrovski]

I love announcements about CEOs selling shares.

It smells like..........Victory!

 

[HopalongPetrovski]

I look forward to the day, if it ever comes, when one of the management/director/key personnel actually BUYS a few shares (may be they can afford $1000?).

Now that'd be a nice change.

I do understand the tax purposes perspective, but does it warrant nearly 50% of his fully paid ordinary shares? Rhetorical question, may be my expectations are too much.

Every company on ASX is doing share buy backs to support the share price, I don't expect BRN to do the same in this present stage of the company, but ffs, they could at least not dump the shares? Sean has been in the office only for a few months

Hang in there Brother.
Our day is coming.