BRN Discussion Ongoing
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curlednoodles
Regular
If they're expecting revenue this year, why the need to raise so much capital? Or is this money just to keep operating expenses going eg salaries....
They already have 3-4 quarters of cash available + an additional $2.7m still to draw under the current agreement which would mean cash into 2025. Now drawing an additional (minimum) $12m in 2024 says anything but potential revenue incoming.
CEO selling shares and 2 x senior sales staff out the door also doesn’t lend confidence…
Not “downramping” just stating the facts.
To further add, the only positive that may come from this is the company is expecting some news soon which will boost the SP making it easy to clear the current LDA shares and they wanted to get bang for buck much like the Merc announcement. I’m not holding my breath.
wilzy123
Founding Member
They're not. Robsmark has already confirmed that they are not.
Euks
Regular
Fact Finder
Top 20
Hi Esq
You beat me to it but this is the link to the Frequently Answered Questions where this information can be found on the Brainchip website.
FAQ
investors.brainchip.com
sb182 every ASX listed company has to maintain a register of shareholders. A company can do it or it can as most do appoint an agent. In this case Brainchip has appointed Boardroom. Every company has a different approach to the release of information however under the Rules a registered shareholder has the right to personally attend the share registry in this case Boardroom and without payment of any fee inspect the register. Over my time with Brainchip as a shareholder the registry by all accounts has been a little flexible if what others has stated is correct. I have never had the need to contact so cannot speak from personal experience.
On the LDA Capital extension we know it costs about $20 million per annum to keep the lights on. We know that Brainchip has about this amount so about four quarters of cash runway.
We know that Brainchip has indicated the desire to produce the AKIDA 2.0 as a reference chip. We know that Brainchip also is hoping to complete the IP design of AKIDA 3.0.
So I simply ask the rhetorical question if Brainchip only has enough cash to keep the lights on for the next four quarters ie 2024 where were the funds coming from to turn the AKIDA 2.0 into a reference chip and if AKIDA 3.0 IP is finalised where will the funds come from to turn it into a reference chip.
Socionext and TSMC cost the best part of about $5 million to produce AKD1000. I am not sure if we had sufficient information to work out what AKD1500 cost at Global Foundries. AKIDA 2.0 and AKIDA 3.0 are more complex chips again to produce. If we look at the amount of capital secured via LDA Capital by coincidence the minimum draw down amount of $12 million would likely be sufficient to produce at least AKIDA 2.0.
and may also cover AKIDA 3.0.
I will leave it to others to say whether the production of AKIDA 2.0 and possibly AKIDA 3.0 as reference chips to demonstrate LLMs to customers World wide is a good or bad thing from a commercialisation perspective and a sensible way to accelerate that process.
My opinion only DYOR
FF
AKIDA BALLISTA
Pom down under
Top 20
Quatrojos
Regular
We know that Brainchip has indicated the desire to produce the AKIDA 2.0 as a reference chip. We know that Brainchip also is hoping to complete the IP design of AKIDA 3.0.Hi Esq
You beat me to it but this is the link to the Frequently Answered Questions where this information can be found on the Brainchip website.
FAQ
sb182 every ASX listed company has to maintain a register of shareholders. A company can do it or it can as most do appoint an agent. In this case Brainchip has appointed Boardroom. Every company has a different approach to the release of information however under the Rules a registered shareholder has the right to personally attend the share registry in this case Boardroom and without payment of any fee inspect the register. Over my time with Brainchip as a shareholder the registry by all accounts has been a little flexible if what others has stated is correct. I have never had the need to contact so cannot speak from personal experience.
On the LDA Capital extension we know it costs about $20 million per annum to keep the lights on. We know that Brainchip has about this amount so about four quarters of cash runway.
We know that Brainchip has indicated the desire to produce the AKIDA 2.0 as a reference chip. We know that Brainchip also is hoping to complete the IP design of AKIDA 3.0.
So I simply ask the rhetorical question if Brainchip only has enough cash to keep the lights on for the next four quarters ie 2024 where were the funds coming from to turn the AKIDA 2.0 into a reference chip and if AKIDA 3.0 IP is finalised where will the funds come from to turn it into a reference chip.
Socionext and TSMC cost the best part of about $5 million to produce AKD1000. I am not sure if we had sufficient information to work out what AKD1500 cost at Global Foundries. AKIDA 2.0 and AKIDA 3.0 are more complex chips again to produce. If we look at the amount of capital secured via LDA Capital by coincidence the minimum draw down amount of $12 million would likely be sufficient to produce at least AKIDA 2.0.
and may also cover AKIDA 3.0.
I will leave it to others to say whether the production of AKIDA 2.0 and possibly AKIDA 3.0 as reference chips to demonstrate LLMs to customers World wide is a good or bad thing from a commercialisation perspective and a sensible way to accelerate that process.
My opinion only DYOR
FF
AKIDA BALLISTA
When did they indicate this desire?
Damo4
Regular
Akida 2 Ref chip or the Akida 3 IP?
Can't talk to PoC of AKD2, but AKD3 has been spoken about by Sean and has been in some announcements, possibly the AGM iirc.
They also provided a roadmap taking us to 2030 including many iterations of Akida, a while back.
Last edited:
Quatrojos
Regular
Thanks. Was talking about 2.0, mainly. Anyone know when, off top of head?
Never rely on the expected payments. So many things are going on like earthquake in Japan, wars, recession, CCP, etc. It is a good thing that we have LDA in place just in case.
curlednoodles
Regular
The Merc "announcement" wasn't even an announcement by brainchip. It came out in an interview with Mercedes about their new concept car.
Fact Finder
Top 20
Not that I should need to tell a shareholder but the last AGM which is the minimum level of research a shareholder should do. It is even published on the ASX and it is easy to find there because they do not publish a great deal. As you are familiar with HC you should be able to find the ASX announcements quite easily as they are published on the Brainchip threads.
My opinion only DYOR
Fact Finder
Bravo
If ARM was an arm, BRN would be its biceps💪!
Picked up from the other side by our member David Holland aka Deadrise
Teksun Partner
As a proven global technology partnerships with vendors and solution providers, we let our customer develop the best of breed solutions for end users.teksun.com
Mentions brainchip partnered with Mercedes
View attachment 53235
Hi Pom, I wonder if BrainChip, Mercedes and Teksun could be working together on the driver monitoring application as mentioned here a few days ago?
Quatrojos
Regular
True. I just wanted to make a point:
If they desired to produce AKD2.0 back then, why not make the cap call at that time? The CEO has watched SP decline for so, so long, only to amend now. It should be embarrassing for him. I hope it is...
How conveniently timed
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