September 2022 quarter…..
In the coming quarter, the Company will focus on key sales targets and converting technical evaluations into paid licenses. In addition, the Company is accelerating development of next-generation Akida IP and products to extend our technological lead and market opportunity!
December 2022 quarter……
In the coming quarter, the Company will focus on key sales targets and converting technical evaluations into paid licenses. In addition, the Company is accelerating development of next-generation Akida IP and products to extend our technological lead and market opportunity. We remain positive on future market penetration and broad adoption of BrainChip's technology.
March 2023 quarter…….
In the coming quarter, the Company will focus on key sales targets and converting technical evaluations into paid licenses. In addition, the Company is accelerating development of next-generation Akida IP and products to extend our technological lead and market opportunity. We remain positive on future market penetration and broad adoption of BrainChip's technology.
This copy and paste mentality is an insult to all BRN holders and needs to be corrected when the next 4C is released.
Time for accountability is now.
Let’s not let our company become a boys club.
Targets need to be set and targets need to met.
Does anyone actually think any employer would pay bonuses to someone even though there targets have not been met…… why should our company be any different to others in the real world…….you can’t go up to your employer and say can I have the same bonus I got last year even though market conditions have changed due to head winds.
Your pay gets effected like everyone else in the real world.
Remember who is BRN employers…….that’s us the shareholders.
I do find this "copy and paste" approach to addressing shareholders in the 4C is really disrespectful.
I made a post here after the release of the 4C in January referring to same, so this unimaginative lackadaisical approach is still
de rigeur for BRN shareholders, as far as mngmt is concerned. I also wrote to Tony Dawe asking for BRN to make more effort with the 4C and provide more detail and insight than the paltry amount provided, which itself has been a serial cut and paste from the previous Qtr.
I am ambivalent with regard to the management bonuses story and can relate to both sides of that widely discussed subject. BRN have made great steps over the last 12 months as the recent very good post by AusEire portrays so well, and the eco system and partner build out is compelling, and a great achievement, but at the AGM last year Sean told the room that he wanted to be breakeven by the end of 2022, on that very important target BRN have failed, and making this business a financial success is the bottom line. I don't think Sean has been a CEO previously, and I guess he may have learned that making undertakings to shareholders that don't come to fruition can be fraught, a lot of long and medium term holders are not happy and it is a red flag.
Regardless, I am as I said, ambivalent on the bonuses, a lot has been achieved yes, but there is still no money, and I think I am feeling that if they are not making money then they (the Board and senior mngmt) should also be waiting for greater rewards just like the shareholders are, I have been thinking about it for several days, and am probably feeling that bonuses aren't really appropriate until financial security has been achieved, or if bonuses are to be granted they should be reduced as a token of respect to SHers
However with regard to the Hernandez shares I am not at all happy with the lack of detail we have been given, why did Manny need so much time to exercise his options, options always have an expiry date so you either exercise or let the options expire, this is very straightforward.
Why should BRN be held responsible for expiry of said options, MH knew the set expiry date and had time in which to exercise, which is his prerogative or responsibility. There is a lack of information from BRN mngmt here, which IMO should be presented in more detail if we are to have an informed decision making process.
Further, tax law in the US is quite different to here, so if MH had exercised those options they then would have vested into fully paid ordinary BRN shares, and as such under US tax law MH could have had a substantial tax liability arising therefrom. I am speculating here, because I cannot say with certainty that this would have been the reason for MH letting his options expire, but it could have influenced the outcome which has not been explained in enough detail to satisfy me.
There are questions here, and now instead of being issued options, MH will be granted FPO's, why has BRN mngmt decided to give MH FPO's (fully paid ordinaries) instead of options. So I am finding it quite difficult to come to terms with what is being put to me by the company on this matter.
I am still a strong hold here, and feel that the foundations and connections are being put in place, and in a normal type of world I would feel confident that BRN would be a very lucrative investment, but post covid we are now in a very different world with serious economic and other headwinds (which have been referenced by Sean), and companies are being considerably more cautious about how they spend, not to mention consumers.
A lot of my time is spent researching macro economics and I am less than comfortable about any number of developments that are taking place (I could spend a lot of time on this) in our world, but I will say this, with regard to BRN if we had the kind of world we enjoyed before covid I would be a great deal more confident about BRN and it's prospects. However my view of the global socio/ economic picture is not quite as sanguine as a number of the views which I see posted here, I no longer want to wait for 5 or 10 years to see ubiquity or large uptake etc. IMO we now live in an environment where a good number of serious outcomes are in play, anything could happen (I hope and pray for good things for all humans) but as a result of some of the scenarios going on, I am certainly in more of a hurry to see some good results starting to fall our way.
The macro economic picture is not any fault whatsoever of BRN mngmt, I understand they are doing their best, and one thing I do get, is that our management on what I have read, seen and heard have a passion to succeed. I don't expect anybody to be perfect here, om mani padme me hum and blessings upon you all, and go BRN, I would really like to see something good drop before the AGM