BRN Discussion Ongoing

[Slade]

While yesterdays AGM didn’t reveal much, I was reminded by something that someone said that the BrainChip team does not discuss what their customers are doing, that’s their business. From what we all know about Renesas and MegaChips I believe they are closer to bringing Akida to market than many think.
The patent today looks like a very important and valuable one.

 

[TECH]

While yesterdays AGM didn’t reveal much, I was reminded by something that someone said that the BrainChip team does not discuss what their customers are doing, that’s their business. From what we all know about Renesas and MegaChips I believe they are closer to bringing Akida to market than many think.
The patent today looks like a very important and valuable one.

Hi Slade,

Couple of announcements today already.

New Patent

AND my favorite

Another Partnership....pushing to 18 now...30 is getting closer !

 

[Diogenese]

Hey Damo,

I agree we are the same price.

But in light of nothing really new, no new deals, no income from the last 4C and as of yet no products in the market, we are basically an easy target for shorters and micklepickles of the world.

I know we have NDA's and I fully get that, I work in project management in med tech with big clients every day, but as they mentioned those in our case here are simply pre engagement chats and mean nothing and certain wont mean the customer will implement akida into any of their products. And yes I get a product cycle takes a long time

It would be nice to present some form of "this is what we except at XYZ time". Instead we had "watch the financials" last year as we all did... and this year it was to the effect of "we are not happy and its a difficult market". So whilst I am not selling and I am confident in the product, I just struggle in darker moments with the confidence or lack thereof that is portrayed by our leadership.

Much like our prospective customers and partners, I believe we won't attract some of the talent we have over the last year without giving them a peak behind the curtain, and much like our partners those individuals would not come over to BRN unless there was something solid on the way.

We as investors/owners/shareholders should at least be allowed a sniff...

Anyways, that is just my opinion. #rantover

Yes. We have a large number of NDAs. The real metric is the number of actual engagements in the form of EAPs, licences and partnerships. We have about 20 of these.

ARM

AzSU

Biotome

Carnegie Mellon

CVEDIA

DUTH

Edge impulse

Ford

ISL

Intellisense

Magik Eye

MegaChips

Mercedes

NASA

nViso

Prophesee –

Quantum Ventura

Renesas

SiFive

Socionext

teksun

Valeo

VVDN

We are also well below our optimal employee limit, so we are probably at full stretch.

 

[FabricatedLunacy]

Yes. We have a large number of NDAs. The real metric is the number of actual engagements in the form of EAPs, licences and partnerships. We have about 20 of these.

ARM

AzSU

Biotome

Carnegie Mellon

CVEDIA

DUTH

Edge impulse

Ford

ISL

Intellisense

Magik Eye

MegaChips

Mercedes

NASA

nViso

Prophesee –

Quantum Ventura

Renesas

SiFive

Socionext

teksun

Valeo

VVDN

We are also well below our optimal employee limit, so we are probably at full stretch.

Thanks DioG.

I am hanging in there, my brain is and has always been... Let it out, kick something (usually not physically)... step back and relax and move on. For better or worse (likely worse ha!).

Much like many others, I have readjusted my expectations. And count 2023 and 2024 as a waiting period now. Sucks but, this is the game!

Edit/Add-on: Should not say usually not physically.... as I never resort to kicking anything, ever So it should have said (never physiscally).

 

[robsmark]

Thanks DioG.

I am hanging in there, my brain is and has always been... Let it out, kick something (usually not physically)... step back and relax and move on. For better or worse (likely worse ha!).

Much like many others, I have readjusted my expectations. And count 2023 and 2024 as a waiting period now. Sucks but, this is the game!

Edit/Add-on: Should not say usually not physically.... as I never resort to kicking anything, ever So it should have said (never physiscally).

Commercial announcements could drop at any time. Nobody knows what is coming and from where.

 

[Diogenese]

This is a bit of homework this morning.

Today partnership with CVEDIA is quite interesting.

CVEDIA is a private company, base in the UK. Started in 2018. The lead investor is FLIR Sytems who is now acquired by Teledyne Technology (ticket symbols TDY nasdaq) for 8 Billion in 2021. So in essence, technology development through CVEDIA would end up within Teledyne Technology.

View attachment 37139

CVEDIA | AI Video Analytics for any hardware

Revolutionize your video analytics with CVEDIA-RT's AI solutions. Easy to integrate, priced competitively and tailored to your use-case. Get access to our large library of deep learning models and improve your customer's business with accurate and fast analytics.

www.cvedia.com

Teledyne is a Giant. Just saying

Teledyne Technologies - Everywhereyoulook!

Teledyne provides enabling technologies to sense, transmit and analyze information for industrial growth markets.

www.teledyne.com

Learning 🏖 (JMHO-DYOR)

Couldn't find any CVEDIA patents, but this VW patent application refer to CVEDIA as a source of synthetic data:

EP4105826A1 COMPUTER-IMPLEMENTED METHOD AND SYSTEM FOR GENERATING A SYNTHETIC TRAINING DATA SET FOR TRAINING A MACHINE LEARNING COMPUTER VISION MODEL

[0006] Understand.Al (retrieved from <https://understand.ai/>). Some companies are also creating synthetic data based on 3D data. For example, Al.Reverie (retrieved from <https://aireverie.com/>) or CVEDIA (retrieved from <https://www.cvedia.com/>) create images based on a 3D virtual environment.

 

[FabricatedLunacy]

Commercial announcements could drop at any time. Nobody knows what is coming and from where.

Sure, or like the last two years they wont As you said nobody knows... Not having a stab at you btw, just stating the obvious.

I am hopeful everyday that we get a "guess what we are in the new {Nintendo/iPhone/Industry thingy/or similar} which turns it all around.

 

[Diogenese]

This paper provides a good summary of the state of the art in SNN and the challenges it faces. One of the biggest limitations with Akida 1.0/1000 I can see is that it doesn’t let you train natively on SNN and its limited to CNN/ANN to SNN conversion. I can see why they went that route but you are going to be limited by the upper bounds of the Original ANN performance you are converting from and still has all the costs involved in training on CNN, apparently. It’s also not good for the academic community researching how to improve the learning algorithms and reduce simulation times on SNN. To be a massive market success my sense is we have to provide a better solution than existing approaches- not just from a power consumption perspective. It has to be ease, speed and cost of training, implementation, accuracy, latency, power consumption etc etc. Akida 2.0 supposedly offers native training in SNN, so hoping it’s a success and better suited to the people researching SNN who are advancing the state of the art.

I have very little technical competence, so putting this here to see if my observations are right?

Overview of Spiking Neural Network Learning Approaches and Their Computational Complexities

Spiking neural networks (SNNs) are subjects of a topic that is gaining more and more interest nowadays. They more closely resemble actual neural networks in the brain than their second-generation counterparts, artificial neural networks (ANNs). SNNs have the potential to be more energy efficient...

www.mdpi.com

Hi Moonshot,

Akida 1 in its original concept did not include CNN-to-SNN. It was pure SNN, and it had, and still has native SNN on chip learning.

Can you provide the actual reference which lead to your assumption that Akida 1 does not do native SNN training?

 

[Potato]

Its been a while since i have posted and i'll admit that i sold out in November last year.
I'd like to add my thoughts to the deteriorating internal circumstances surrounding BRN.

1. Communication with shareholders:
Its essential and necessary. I get not touching too much on progressing relationships due to NDA's but shouldnt there really be some sort of network to keep shareholders in the know (to a certain extent). i.e. shareholder letter or subscribe to notifications via the website? Just an idea.

2. ASX announcements:
This is an issue that i have seen brought up by many in this forum and i completely agree. They need to take another look at the 'what' and 'when' they release announcements to the market. The tech industry is still exciting and motivates people to buy on the ASX. Also i completely agree that they could release more info under the 'non sensitive' category.

3. Target Markets:
I think they need to rethink their 'to market' strategy. It obviously hasn't worked over the past 12 - 18 months. I'll admit; they trialled but failed. Now the executive and sales teams need to get up and look at other options. Maybe instead of trying to catch the 'big fish', they should start with the smaller ones first. i.e. target the India market or other asian markets instead of the US. The US has so many companies trying to get a piece of the pie that its literally like winning the business lottery.

4. Increasing the sales team:
This is something that we've heard A LOT from the executive team and would agree with this investment. It takes time to get the right people in the right place. Its not easy. They've invested a lot of time and money in hiring these individuals. Lets see how it pans out.

5. Remuneration report:
Absolutely agree with the way in which this was voted down. Why reward nil results. The chairman's speech was true to the T however its not his money. Its the way this world works. You don't get paid if you don't do anything. Results are everything in this market and we are deeply in need of some. Especially if we are trying to break into this market.

6. Revenue
The recent 4C was hard to read and many thought $40k was a typo for a company that had so much backing from LT shareholders, a huge market cap (god knows how many times future earnings) and that just hired a new bunch of people. We expected more and absolutely deserve more. Enough with the bluff. Start setting milestone sale targets. Sean and team need to knuckle down and get those contracts signed.

I would like to see BRN succeed and firmly believe that this stance from shareholders yesterday, will give the company the push that it needs to grow over the next 12 months.

 

[Xray1]

Is it fair to say the AGM presentation was a fkn train smash and this was reflected in the share price?

ABSOLUTELY SO ................ We s/holder attendee's went into the AGM as mushrooms and were feed a lot of fluffy compost and I for one was also feeling that I was being left in the dark on just about every issue raised and bewildered with the flippant responses provided by the Co.

IMO, I think that Sean thus far as being the Co's CEO for just over one year, that Sean is not meeting my own personal shareholder expectations of this pivotal Co position.

I am now however very pleased that the Co has had a first strike made against it ....... which I hope now puts management on notice that improvement in all aspects of the Co's progression and renumerations is required so as to avoid another further strike next year at the 2024 AGM.

 

[Diogenese]

Its been a while since i have posted and i'll admit that i sold out in November last year.
I'd like to add my thoughts to the deteriorating internal circumstances surrounding BRN.

1. Communication with shareholders:
Its essential and necessary. I get not touching too much on progressing relationships due to NDA's but shouldnt there really be some sort of network to keep shareholders in the know (to a certain extent). i.e. shareholder letter or subscribe to notifications via the website? Just an idea.

2. ASX announcements:
This is an issue that i have seen brought up by many in this forum and i completely agree. They need to take another look at the 'what' and 'when' they release announcements to the market. The tech industry is still exciting and motivates people to buy on the ASX. Also i completely agree that they could release more info under the 'non sensitive' category.

3. Target Markets:
I think they need to rethink their 'to market' strategy. It obviously hasn't worked over the past 12 - 18 months. I'll admit; they trialled but failed. Now the executive and sales teams need to get up and look at other options. Maybe instead of trying to catch the 'big fish', they should start with the smaller ones first. i.e. target the India market or other asian markets instead of the US. The US has so many companies trying to get a piece of the pie that its literally like winning the business lottery.

4. Increasing the sales team:
This is something that we've heard A LOT from the executive team and would agree with this investment. It takes time to get the right people in the right place. Its not easy. They've invested a lot of time and money in hiring these individuals. Lets see how it pans out.

5. Remuneration report:
Absolutely agree with the way in which this was voted down. Why reward nil results. The chairman's speech was true to the T however its not his money. Its the way this world works. You don't get paid if you don't do anything. Results are everything in this market and we are deeply in need of some. Especially if we are trying to break into this market.

6. Revenue
The recent 4C was hard to read and many thought $40k was a typo for a company that had so much backing from LT shareholders, a huge market cap (god knows how many times future earnings) and that just hired a new bunch of people. We expected more and absolutely deserve more. Enough with the bluff. Start setting milestone sale targets. Sean and team need to knuckle down and get those contracts signed.

I would like to see BRN succeed and firmly believe that this stance from shareholders yesterday, will give the company the push that it needs to grow over the next 12 months.

Just on the remuneration report, paradoxically the sales and marketing teams and the engineering support probably are working harder now to establish a customer base than they will once the customer base is established and the cash is rolling in. ... and they would feel the lack of runs on the board acutely ... without shareholders putting the boot in.

The carrot or stick?

For mine, if they are putting in 100%, it's the carrot.

I'd need proof of slacking off before resorting to the stick.

 

[Potato]

Just on the remuneration report, paradoxically the sales and marketing teams and the engineering support probably are working harder now to establish a customer base than they will once the customer base is established and the cash is rolling in. ... and they would feel the lack of runs on the board acutely ... without shareholders putting the boot in.

The carrot or stick?

For mine, if they are putting in 100%, it's the carrot.

I'd need proof of slacking off before resorting to the stick.

I'v no doubt that they are working their butts off but if it doesn't equate to sales then it means squat. Thats the industry they are in. They need to turns 'talking' into contracts and $$$.

A lot of individuals held Sean to his word at the last AGM..

 

[Dang Son]

Hey Damo,

I agree we are the same price.

But in light of nothing really new, no new deals, no income from the last 4C and as of yet no products in the market, we are basically an easy target for shorters and micklepickles of the world.

I know we have NDA's and I fully get that, I work in project management in med tech with big clients every day, but as they mentioned those in our case here are simply pre engagement chats and mean nothing and certain wont mean the customer will implement akida into any of their products. And yes I get a product cycle takes a long time

It would be nice to present some form of "this is what we except at XYZ time". Instead we had "watch the financials" last year as we all did... and this year it was to the effect of "we are not happy and its a difficult market". So whilst I am not selling and I am confident in the product, I just struggle in darker moments with the confidence or lack thereof that is portrayed by our leadership.

Much like our prospective customers and partners, I believe we won't attract some of the talent we have over the last year without giving them a peak behind the curtain, and much like our partners those individuals would not come over to BRN unless there was something solid on the way.

We as investors/owners/shareholders should at least be allowed a sniff...

Anyways, that is just my opinion. #rantover

While our company interacts with rich partners that delay committing to our offering, Shareholders here are definitely the
"Second class citizens in a First class market"(Geoff Moore)
We see our value diluted and share price manipulated while Company maintains staff, r&d and patents, only to keep us wondering year on year.
It is very trying to be a shareholder without a sniff of reward, which was the statement made yesterday to BoD

 

[Tezza]

Commercial announcements could drop at any time. Nobody knows what is coming and from where.

Happy to wrong but think if there was an Ann close yesterday's meeting would have been more upbeat

 

[equanimous]

I agree with the sentiment of the agm. This will be a good pressure boost moving forward.

It was wrong to say akida 1000 was a failure because megachips and Renesas both signed up to this.

The next versions of Akida is tailored spec to specific use cases and to companies needs. Im keen to see capabilities and what companies will seek it.

Need to also remember comapnies can use megachips as a backdoor to obtain brn IP.

Megachips and Renesas has the ability to make Brn profitable. Looking forward to the second half this year and hoping for a Fed pivot for money to rotate back into stocks.

 

[Moonshot]

Hi Moonshot,

Akida 1 in its original concept did not include CNN-to-SNN. It was pure SNN, and it had, and still has native SNN on chip learning.

Can you provide the actual reference which lead to your assumption that Akida 1 does not do native SNN training?

Thanks Dio, I remember reading somewhere that the Akida API only lets you do CNN to SNN, will try and find…

 

[robsmark]

Happy to wrong but think if there was an Ann close yesterday's meeting would have been more upbeat

I’d say that’s stating the obvious mate.

 

[Slade]

Sure, or like the last two years they wont As you said nobody knows... Not having a stab at you btw, just stating the obvious.

I am hopeful everyday that we get a "guess what we are in the new {Nintendo/iPhone/Industry thingy/or similar} which turns it all around.

Everyone knows that Renesas will soon get their Akida infused chips back from fabrication soon if they haven’t already. Doesn’t take much reasoning to think that they are going use them to generate revenue.

 

[Yoda]

Hi Slade,

Couple of announcements today already.

New Patent

AND my favorite

Another Partnership....pushing to 18 now...30 is getting closer !

I've taken some time to reflect on the AGM and the business and wanted to share my thoughts.

Last year's AGM the company was full of confidence for the next 12 months. Unfortunately, that confidence was premature. My impression was that the company was determined not to make that mistake again at this year's AGM and perhaps the pendulum swung too far the other way at a time when shareholders were actually looking for some reassurance.

However, let's look at some basic facts removed from sentiment and emotion generated by yesterday's AGM. The runway to commercial success is longer and more winding than many of us thought but we are still on that runway. Customers had feedback about Akida 1.0 that the company has taken on board and has now produced Akida 1500 in response with Akida 2.0 on the way. I infer from this that if Akida 1500 meets their requirements there is likely to be customer engagement after they have tested it as this is the end of the journey that started with Akida 1.0 rather than the start of a new journey with Akida 1500. No doubt also, Akida 2.0 is designed with these issues in mind but with even more functionality. As far as I can see too, we are still the only company with a commercially available edge AI solution in a rapidly expanding market that is crying out for this solution.

So when I ask myself the question, is this a company at this point I would want to buy into the answer for me is yes; and because the answer is yes the answer to the question should I sell my holding is obviously no.

There is no doubt the company is making progress behind the scenes and that the partnerships are important. I actually believe Sean has contributed a lot. As investors we are always dealing with probabilities and being called on to make decisions based on inferences from the facts we know. However, the inference I draw from where we stand is that we are still likely to be successful, and maybe we will see some engagement from customers sooner than people might otherwise believe if Akida 1500 finds a receptive market.

They are my thoughts for what they are worth.

 

[DK6161]

Anyone recorded the AGM? Can you please share?