BRN Discussion Ongoing

[Okeydokey01]

What has actually changed with the company? I get the frustration at the SP but we own a piece of a company and from where I sit the company continues to push forward. I am satisfied that they are continuing to work as hard as they can for the stage that they are at. We are seeing information that can be released, released. This is the way a company like Brainchip must work. Given the scale of the potential customers we are dealing with the stakes are too high to jeopardise commercial deals in order to satisfy share holders concerns. At least that is my belief.

We are selling revolutionary technology to the big players and our product and company must be understood, qualified, tested and then tested some more. Then, once this is done the process of incorporation and design into products begins. Its a long sales cycle and was always going to be that way.

Unfortunatly the Market is far from perfect and is open to manipulation. But the calls for action from management in order to stem the falling SP do not make any sense to me. Perhaps I am missing the point or maybe my time frames are different to others. But my sentiment towards where we will be in a couple of years time is unchanged by recent SP movements. Best of luck to all.

 

[GazDix]

It's actually depressing to think I could of sold at $2 and been set up for life.

There is absolutely no guarantee that the share price will ever reach those heights again.

I'm hoping management will be successful in its business model and growth strategy but 14 months into commercialisation ( much longer for EAPS) there does not seem to be an "explosion of sales" for a Technology that is marketed as being revolutionary for the industry with many advantages over old Tech (yes I know there is long lead times and macro economic conditions play a part in investing in tech)

The AGM will be interesting this year.
Good luck and happiness to all the long term holders
I'm going for a long long walk.
Take care, hopefully this is the bottom

Hi Dozzaman,

I am 99% confident we will see those highs again and more. Looking at all the early day charts of Apple, Amazon, Bitcoin and any other new technology, volatility is the norm. Reason why it is so volatile is that games can easily be played because the tech is hard to understand and manipulation is easy.
But let's say that Renesas and Megachips are our only commerical contracts (this is hypothetical and will never be the case) in 5 years or so, with all the products they make and markets they will start to dominate, even then $4 billion MC or $2 SP is cheap.

 

[Fastback6666]

It's simply another short attack to allow some of the bulk shorters (insto's) to close out of their position - we will most likely see in 3 days that shortman has dropped down in bulk shortage percentage for BRN shares.

Then these same insto's or others closely linked to those intso's are most likely buying up the bulk shares at these lower prices to take their longer term position....as they know where Brainchip and AI market is going...up.

The insto's are purely taking advantage of the CEO's comments and them not meeting market expectations around "Watch the financials" this last year, "Larger revenue to come through end of 2022". This was not achieved so we unfortunately and inevitely had to be punished on the SP in this short term as it is easy to place fear in the BRN market when company comments are not followed through.

What we know is that BRN are working dozens and dozens of companies and are actually achieving integration in to end products....so we know more revenue will start soon enough...not the small 1mil revenue as that is a blip - but 10's of million in revenue is the market and SP mover and beyond. It will come as it has no choice not to as we know the work being put in with dozens of companies and we have seen many products and signs of potentially many more ...it's just that integration into end products and then bulk sales of this takes time. The NDA's do hurt us retail holders as we never truly know what deals and contracts have been struck and some would be very long term commitments - we can only watch the revenue which is the hard part.

For now we have to take the pain and the market fear only to hold for a sunnier days in the coming years and years. The old saying applies here - buy when others are fearful. DYOR.

 

[Calsco]

The share price drop today is the result of a confirmed downtrend in the technical analysis. Any person that has access to up to date charting or an advisor would have been warned about a descending triangle pattern coming to the pointy end and the fact we confirmed a downward trend over the last few weeks.

What I believe has happened is at the end of the descending triangle people have to decide if the share price will go up or down, the company has had no ASX listed announcements or any significant news or material contracts lately so why would you predict the share price to bounce into a bullish run?

I for one believe in the company and held a significant amount of shares in it, but even I sold last week as I couldn't see the price bouncing up, I did this because I don't like watching my money go down the drain. I will buy back in once we have found the bottom and hopefully ride a trend upwards.

I understand for long term holders who have an average buy in price significantly lower that they are happy to ride it up and down but for people who have invested and are down or sitting at break even, do yourself a favour and seek some advice on charting instead of just listening to people saying they are calm and happy about the share price tanking because this will result in you just loosing money.

My thoughts anyway, DYOR

 

[Mannic]

They are only interested when the SP goes up, they don't care when it goes down.
I remember this name, so I assume some of us have contacted her before?

First thing that needs to happen is ASX should not be a publicly traded company.
ASX is not an independent, no-strings attached body. It is a company for profits, with shareholder interest and hence I doubt it will have retailers interest at heart.

The ASX stands for Australian Shorters Exchange.

 

[Iseki]

What has actually changed with the company? I get the frustration at the SP but we own a piece of a company and from where I sit the company continues to push forward. I am satisfied that they are continuing to work as hard as they can for the stage that they are at. We are seeing information that can be released, released. This is the way a company like Brainchip must work. Given the scale of the potential customers we are dealing with the stakes are too high to jeopardise commercial deals in order to satisfy share holders concerns. At least that is my belief.

We are selling revolutionary technology to the big players and our product and company must be understood, qualified, tested and then tested some more. Then, once this is done the process of incorporation and design into products begins. Its a long sales cycle and was always going to be that way.

Unfortunatly the Market is far from perfect and is open to manipulation. But the calls for action from management in order to stem the falling SP do not make any sense to me. Perhaps I am missing the point or maybe my time frames are different to others. But my sentiment towards where we will be in a couple of years time is unchanged by recent SP movements. Best of luck to all.

"What has actually changed with the company?"

We made a chip that worked (Akida1000). We changed course and decided to license the IP instead. We failed to penetrate the AI market, so we've now gone back to producing our own chip (Akida1500).

I don't think we've made any missteps, but no-one can see any products on the shelf that contain Akida. (except folk here who say Renesas includes us which is patently wrong).

 

[Home101]

What just happened? Is this trading halt?

 

[robsmark]

Head up Robsmark. Some things take time, and don't forget theres more to life than the stock market.
Not being condescending but I can see you as well as others aren't taking this too well.
Just remember there's always tomorrow and trust your judgment.

Edit: I suggest maybe a quick stroll around the block or have something to eat. It's a amazing what a step back can do for the mental health.

With respect Damo, don’t brush This off as my issue. I’ve been stating for months about the mismanagement of this company and absolute neglect for its share holders with their “risk adverse” strategy. Not wanting to upset the ASX is one thing, but not releasing any market sensitive new through them is another, and now look where we are.

These guys have an amazing product, but what have they done with it? other companies (WBT for example) are releasing appropriate development data through the ASX with no issues, and as a result they have virtually no shorts, a growing group of shareholders, and a SP to reflect this regardless of surrounding economic factors.

This isn’t my mental health issue, and if I want advice about food and exercise I’ll see my GP thanks.

 

[VictorG]

I love Rock and Roll but on very rare occasions such as today, where every minute feels dark and dramatic, my go to music is equally dark and dramatic.

From Tosca act 3.
Imagine you are the God Father, sitting in a dark room, chomping on a cigar, drinking a rare brandy while plotting your revenge on the shorters.

 

[Dhm]

This is what capitulation looks like.

 

[gex]

ANNOUNCEMENT!!!

SORRY, HAD TO DO IT LOL

 

[buena suerte :-)]

15 February 2023 Ms Ramona Seeto ASX Adviser, Listings Compliance 20 Bridge St Sydney NSW 2000 Dear Ms Seeto Brainchip Holdings Limited (‘BRN’): Price - Query Brainchip Holdings Limited (BRN or Company) refers to your letter of 15 February 2023 and provides the following

responses: 1. Is BRN aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?
No 2. If the answer to question 1 is “yes”: a) Is BRN relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? b) Can an announcement be made immediately? c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made? Not Applicable 3. If the answer to question 1 is “no” is there any other explanation that BRN may have for the recent trading in its securities?
No 4. Please confirm that BRN is complying with the Listing Rules and, in particular, Listing Rule 3.1. Confirmed

______________________________________________________________________________ BrainChip Holdings Ltd ACN 151 159 812 Level 8, 210 George St Sydney NSW 2000 T: +61 2 9290 9606 | F: +61 2 9279 0664 | W: www.brainchipinc.com 5. Please confirm that BRN‘s responses to the questions above have been authorised and approved in accordance with its published continuous disclosure policy or otherwise by its board or an officer of BRN with delegated authority from the board to respond to ASX on disclosure matters.

Confirmed Please do not hesitate to contact me should you wish to discuss further. Yours sincerely Kim Clark Company Secretary ASX Limited [[Listings]] ASX Customer Service Centre 131 279 | asx.com.au 15 February 2023 Reference: 68300 Ms Kim Clark Company Secretary Brainchip Holdings Ltd Dear Ms Clark Brainchip Holdings Ltd (‘BRN’):

Price - Query ASX refers to the following:
A. The change in the price of BRN’s securities from a closing price of $0.59 on 14 February 2023 to an intraday low today, 15 February 2023 of $0.50 at the time of writing.

B. The significant increase in the volume of BRN’s securities traded over this period. Request for information In light of this, ASX asks BRN to respond separately to each of the following questions and requests for information: 1. Is BRN aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities?

2. If the answer to question 1 is “yes”. (a) Is BRN relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in BRN’s securities would suggest to ASX that such information may have ceased to be confidential and therefore BRN may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is “yes”, you need to contact us immediately to discuss the situation. (b) Can an announcement be made immediately? Please note, if the answer to this question is “no”, you need to contact us immediately to discuss requesting a trading halt (see below). (c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made?

3. If the answer to question 1 is “no”, is there any other explanation that BRN may have for the recent trading in its securities?
4. Please confirm that BRN is complying with the Listing Rules and, in particular, Listing Rule 3.1. 5.

Please confirm that BRN’s responses to the questions above have been authorised and approved under its published continuous disclosure policy or otherwise by its board or an officer of BRN with delegated authority from the board to respond to ASX on disclosure matters. When and where to send your response This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by no later than 2:00 PM AEDT Wednesday, 15 February 2023. You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A, BRN’s obligation is to disclose the 2/2 ASX Customer Service Centre 131 279 | asx.com.au information ‘immediately’. This may require the information to be disclosed before the deadline set out in the previous paragraph and may require BRN to request a trading halt immediately. Your response should be sent to me by e-mail at ListingsComplianceSydney@asx.com.au. It should not be sent directly to the ASX Market Announcements Office.

This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform. Trading halt If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is “yes” and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in BRN’s securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:  the reasons for the trading halt;  how long you want the trading halt to last;  the event you expect to happen that will end the trading halt;  that you are not aware of any reason why the trading halt should not be granted; and  any other information necessary to inform the market about the trading halt, or that we ask for. We require the request for a trading halt to be in writing.

The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted. You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions. Suspension If you are unable to respond to this letter by the time specified above, ASX will likely suspend trading in BRN’s securities under Listing Rule 17.3. Listing Rules 3.1 and 3.1A In responding to this letter, you should have regard to BRN’s obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 – 3.1B. It should be noted that BRN’s obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter. Release of correspondence between ASX and entity We reserve the right to release a copy of this letter, your reply and any other related correspondence between us to the market under Listing Rule 18.7A. Questions If you have any questions in relation to the above, please do not hesitate to contact me

 

[alwaysgreen]

The share price drop today is the result of a confirmed downtrend in the technical analysis. Any person that has access to up to date charting or an advisor would have been warned about a descending triangle pattern coming to the pointy end and the fact we confirmed a downward trend over the last few weeks.

What I believe has happened is at the end of the descending triangle people have to decide if the share price will go up or down, the company has had no ASX listed announcements or any significant news or material contracts lately so why would you predict the share price to bounce into a bullish run?

I for one believe in the company and held a significant amount of shares in it, but even I sold last week as I couldn't see the price bouncing up, I did this because I don't like watching my money go down the drain. I will buy back in once we have found the bottom and hopefully ride a trend upwards.

I understand for long term holders who have an average buy in price significantly lower that they are happy to ride it up and down but for people who have invested and are down or sitting at break even, do yourself a favour and seek some advice on charting instead of just listening to people saying they are calm and happy about the share price tanking because this will result in you just loosing money.

My thoughts anyway, DYOR

Its got nothing to do with technical analysis and everything to do with not selling anything for 14 months.

 

[Fastback6666]

The share price drop today is the result of a confirmed downtrend in the technical analysis. Any person that has access to up to date charting or an advisor would have been warned about a descending triangle pattern coming to the pointy end and the fact we confirmed a downward trend over the last few weeks.

What I believe has happened is at the end of the descending triangle people have to decide if the share price will go up or down, the company has had no ASX listed announcements or any significant news or material contracts lately so why would you predict the share price to bounce into a bullish run?

I for one believe in the company and held a significant amount of shares in it, but even I sold last week as I couldn't see the price bouncing up, I did this because I don't like watching my money go down the drain. I will buy back in once we have found the bottom and hopefully ride a trend upwards.

I understand for long term holders who have an average buy in price significantly lower that they are happy to ride it up and down but for people who have invested and are down or sitting at break even, do yourself a favour and seek some advice on charting instead of just listening to people saying they are calm and happy about the share price tanking because this will result in you just loosing money.

My thoughts anyway, DYOR

I do generally agree with you but the downtrend stems from a core reason - that is expectations not met on revenue - this is the next major step for the company - to sell. Until revenue is seen or the company can quantify with an announcement of a deal or contract of future revenue to flow in then yes we will stay in a downtrend, but hopefully to stop at the longer term support areas ...like the 50c area. This support area did fluctuate between .38 to around .60 though from memory, so it still wont be a lot of fun to watch in the short term.

The core is that real quantifying revenue or revenue related news is needed to turn the SP fully around.

 

[Mugen74]

Well blow me down the ASX asked for a please explain on the drop.

 

[robsmark]

15 February 2023 Ms Ramona Seeto ASX Adviser, Listings Compliance 20 Bridge St Sydney NSW 2000 Dear Ms Seeto Brainchip Holdings Limited (‘BRN’): Price - Query Brainchip Holdings Limited (BRN or Company) refers to your letter of 15 February 2023 and provides the following

responses: 1. Is BRN aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities? No 2. If the answer to question 1 is “yes”: a) Is BRN relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? b) Can an announcement be made immediately? c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made? Not Applicable 3. If the answer to question 1 is “no” is there any other explanation that BRN may have for the recent trading in its securities? No 4. Please confirm that BRN is complying with the Listing Rules and, in particular, Listing Rule 3.1. Confirmed

______________________________________________________________________________ BrainChip Holdings Ltd ACN 151 159 812 Level 8, 210 George St Sydney NSW 2000 T: +61 2 9290 9606 | F: +61 2 9279 0664 | W: www.brainchipinc.com 5. Please confirm that BRN‘s responses to the questions above have been authorised and approved in accordance with its published continuous disclosure policy or otherwise by its board or an officer of BRN with delegated authority from the board to respond to ASX on disclosure matters.

Confirmed Please do not hesitate to contact me should you wish to discuss further. Yours sincerely Kim Clark Company Secretary ASX Limited [[Listings]] ASX Customer Service Centre 131 279 | asx.com.au 15 February 2023 Reference: 68300 Ms Kim Clark Company Secretary Brainchip Holdings Ltd Dear Ms Clark Brainchip Holdings Ltd (‘BRN’): Price - Query ASX refers to the following: A. The change in the price of BRN’s securities from a closing price of $0.59 on 14 February 2023 to an intraday low today, 15 February 2023 of $0.50 at the time of writing. B. The significant increase in the volume of BRN’s securities traded over this period. Request for information In light of this, ASX asks BRN to respond separately to each of the following questions and requests for information: 1. Is BRN aware of any information concerning it that has not been announced to the market which, if known by some in the market, could explain the recent trading in its securities? 2. If the answer to question 1 is “yes”. (a) Is BRN relying on Listing Rule 3.1A not to announce that information under Listing Rule 3.1? Please note that the recent trading in BRN’s securities would suggest to ASX that such information may have ceased to be confidential and therefore BRN may no longer be able to rely on Listing Rule 3.1A. Accordingly, if the answer to this question is “yes”, you need to contact us immediately to discuss the situation. (b) Can an announcement be made immediately? Please note, if the answer to this question is “no”, you need to contact us immediately to discuss requesting a trading halt (see below). (c) If an announcement cannot be made immediately, why not and when is it expected that an announcement will be made? 3. If the answer to question 1 is “no”, is there any other explanation that BRN may have for the recent trading in its securities? 4. Please confirm that BRN is complying with the Listing Rules and, in particular, Listing Rule 3.1. 5.

Please confirm that BRN’s responses to the questions above have been authorised and approved under its published continuous disclosure policy or otherwise by its board or an officer of BRN with delegated authority from the board to respond to ASX on disclosure matters. When and where to send your response This request is made under Listing Rule 18.7. Your response is required as soon as reasonably possible and, in any event, by no later than 2:00 PM AEDT Wednesday, 15 February 2023. You should note that if the information requested by this letter is information required to be given to ASX under Listing Rule 3.1 and it does not fall within the exceptions mentioned in Listing Rule 3.1A, BRN’s obligation is to disclose the 2/2 ASX Customer Service Centre 131 279 | asx.com.au information ‘immediately’. This may require the information to be disclosed before the deadline set out in the previous paragraph and may require BRN to request a trading halt immediately. Your response should be sent to me by e-mail at ListingsComplianceSydney@asx.com.au. It should not be sent directly to the ASX Market Announcements Office.

This is to allow me to review your response to confirm that it is in a form appropriate for release to the market, before it is published on the ASX Market Announcements Platform. Trading halt If you are unable to respond to this letter by the time specified above, or if the answer to question 1 is “yes” and an announcement cannot be made immediately, you should discuss with us whether it is appropriate to request a trading halt in BRN’s securities under Listing Rule 17.1. If you wish a trading halt, you must tell us:  the reasons for the trading halt;  how long you want the trading halt to last;  the event you expect to happen that will end the trading halt;  that you are not aware of any reason why the trading halt should not be granted; and  any other information necessary to inform the market about the trading halt, or that we ask for. We require the request for a trading halt to be in writing.

The trading halt cannot extend past the commencement of normal trading on the second day after the day on which it is granted. You can find further information about trading halts in Guidance Note 16 Trading Halts & Voluntary Suspensions. Suspension If you are unable to respond to this letter by the time specified above, ASX will likely suspend trading in BRN’s securities under Listing Rule 17.3. Listing Rules 3.1 and 3.1A In responding to this letter, you should have regard to BRN’s obligations under Listing Rules 3.1 and 3.1A and also to Guidance Note 8 Continuous Disclosure: Listing Rules 3.1 – 3.1B. It should be noted that BRN’s obligation to disclose information under Listing Rule 3.1 is not confined to, nor is it necessarily satisfied by, answering the questions set out in this letter. Release of correspondence between ASX and entity We reserve the right to release a copy of this letter, your reply and any other related correspondence between us to the market under Listing Rule 18.7A. Questions If you have any questions in relation to the above, please do not hesitate to contact me

Err how about yes! We have a massive fucking short position taken out upon us by X, Y, and Z - might be worth looking into Mr ASX as it’s basically market manipulation!

Fair play to the ASX though, it’s the first time I’ve seen a ticket on the way down.

 

[Calsco]

Its got nothing to do with technical analysis and everything to do with not selling anything for 14 months.

The share price doesn't just fall off a cliff because of a 14 month period of no sales, sure it contributed but look at the charts for yourself. Without an announcement or any meaningful revenue we are heading for the .38c -.48c support and resistance area. Nobody wants this.

 

[skutza]

Fuck me BRN, He's a much better response.

"As an unmanaged bourse/monopoly, ASX and it's lack of action to help retail investors have caused the decimation of the SP by letting shorters rule the roost. ASIC is about as scary as a handful of grandmothers knitting sweaters for their grandkids. So yes there is a reason for such a SP drop, it's called professional manipulation. The sooner you get this under control the better."

Rather than asking the fucking company for the answers, get ASIC to look into who is selling?

The only positive here is that at least the board is confirming there are no issues with the ,company itself.

 

[Cardpro]

I think blaming the shorters is stupid. Management is liable for lack of news and price sensitive announcements which allowed shorters to party on loyal holders hard earned money.

 

[Mugen74]

Please explain drop?Was that a way of signalling their insto mates it time to ease up on shorts as its getting real diffucult for them to ignore it?