OPEN LETTER.
To BrainChip Management & Fellow Shareholders,
Where dose one start......
1, All very well for the Board , 7 individuals, to strip something in the order of $5,000,000 to $8,000,000 AU annually in salaries , cash & perks.
Thay , the Board, are being paid to deliver Review, which to date is the equivalent of non existant, be it due to global events , their own endeavours or a combination of all.
2, All salaries stripped back to base pay only till proper revinues start to flow to the ballence sheet.
If you , Directors, believe you are worth more then bugger off....funnily enough there is always someone younger with more drive willing to achieve the same end on a lower salarie.
3, Will be extremely enlightening around January, when directors...due to our renunciation committee, put their hands out for CASH BONUSES.
Show some contrition F.F.S.
If any of the Board accept cash bonuses , on top of salaries, we'll this purely confirms there is no compassion to how the company is travelling & a compleet disregard to shareholders.
4, At the last AGM when Antonio V was being grilled on renunciation ( a savvy chipper required to locate footage) , Antonio clearly articulated....not one but two independent renumeration firms were engaged to figure out the compensation / salaries for management , ( this in itself one has to ask why then do we also then engage , employ Pia Turcinov on the renumeration committee????
Note , the only reason Pia is there is due to the fact that an Australian Listed Entity has to have at least two Australian directors , Pia is on a salarie of $....., + percs , + shares.). For.......
Back to point 4. & Board Renumeration and Antonio's comment of two firms oppinion on salaries.
According to Antonio, the two firms thought that their salaries were, are commensurate with a company engaged in this field , of a company generating between $5,000,000 to $30,000,000 in revinue annually ( I will be gentil and say that was Australian and not American $ ).
Well I'd be guessing our renumeration committee then took an above average figure of say $15,000,000 to $20,000,000 as a ball park figure then deduced their salaries.
Well so far this year under $1,000,000 Australian dollars have hit the books, so unless a further $14,000,000 to $19,000,000 AU hits the books as recognised REVINUE in the 4th quarter ( Oct, Nov, Dec), well it would appear the salaries are excessive to say the least, & thay have had this confirmed to themselves by two independent firms , at shareholders expense.
5, Disclosure on the ASX of partners & trade show appearances etc is a no brainer.
Look up any listed mining , pharmaceutical, tech co on the ASX and such things are disclosed on a regular basis.
GROW A SET & start using the ASX, that is why our company pays the annual listing fees of , between $70,000 to $100,000 AU.
THIS IS NOT A PRIVATE COMPANY & SHOULD NOT BE TREATED AS SUCH.
6, In the last several Annual Report's & several other documents lodged through the ASX and general media, the German Listing of BrainChip is not recognised nor mentioned.
For the last two years at least, more volume and $ ( actually € ) transact on a daily basis than the two American listing's on the OTC combined.
Show some respect to our European investors.
Also like to add , we, BrainChip shareholders, are also very likely to be paying a listing fee to be on the Frankfurt exchange.
7, Directors not buying on market.... Board convenes a meeting and passes × windows per year for directors to buy on market.
Windows also disclosed to shareholders for full transparency.
8, Unless Tony Dawe was waiting on a organ donation transplant , and hence took his holiday leave when he did, well I'm personally speechless.
This goes for the whole Board, take your leave Christmas's time when business in general slows , this should not be run as a lifestyle co & again if you dont want the job then step off.
Diligent & dedicated workers aren't hard to find. From memory 20,000 to 30,000 individuals in the tech sphere have been laid off in the last year and a half.
As someone once said the individuals we as shareholders wish to steward our company are as rare as rocking-horse shite , well I'd be thinking there are several in the above which have the required knowledge to further our company on far lower salaries with same results.
9, This bickering amoungst TSX BRN holders needs to pull up.
Many valued members have withdrawn which is a great shame and detriment to the collective.
All views are relevant , good & bad , as it creates a full picture.
If you dont like it scroll no.
Regards,
Esq.
www.prophesee.ai
www.linkedin.com
