I do think the 5 year plan is working actually.
The Ecosystem is set up and growing. It's pretty big.
Academics are involved with SNN Akida.
There are proof of concepts with the VVDN edge Box Cup Cake coming and the Teksun box.
We are in outerspace and working.
MB is been using Akida in their concepts so it on going. Though these proof of concepts are not just dale's or management but engineering.
Our progress to be commercially ready is actually progressed well.
There have been some economic head winds that have slowed things and uptake or IP deals not at the rates I expected.
So in fairness yes the business plan has unfolded well.
Take a look at BRNs presence and promotion from other companies and high rank personnel. Compare that activity to 2 years ago what was said or heard from brainchip. If on the eve of the MB tweet if we had Intel foundries partnership and Arm and Tata and about half of what we show now the stock would have ran to 5 or 10 dollars imo.
So I would say Sean has progressed the comercialmside of the business well.
Have they promoted the achievements well no has any signifigant revenue been generated yet no. Will there be revenue very likely what volumes depends on the contracts.
Now the staff levels are over 80 people 2 years ago there may have been 30 so yeah that's a plus. We would not keep adding positions if it was not warranted there is no way would the board approve that cost.
So yeah we have moved up.
Is the management arragant yes have they doddled some yes does this warrant a spill in my opinion when you look at all the good that's happened to the bad i say no. Some angry people will say yeah and some that want to slow BRN progress will say yeah too.
Ask who has to gain from a spill not me not any holder. Not the company employees not the potential contracts either. All in my opinion
Not to mention several patents referance Akida over the last few years. I think we are okay not fantastic but moving along.
Nice one Kachoo.
Great message.
I know many retail holders are suffering with the brutal decline in share price.
There are a lot of people here and on HC that are pushing HARD for a second strike and board spill, but I would implore those here who are uncertain to think hard about their decision when voting for or against the remuneration report.
A board spill will create a dire situation for the share price. It will unequivocally get smashed. I would not be surprised if we drop 50% on the day of the AGM in the event the board is spilled. It will cause significant disruption to the business and the share price.
If you as a shareholder TRULY feel that the current board are unable to execute on Brainchip's vision or that they are TRULY overpaid then by all means, please do vote against the remuneration report.
I on the other hand feel as though we are progressing in line with expectations. It sucks to see the share price dropping and no doubt we are all sitting here rubbing our hands together waiting for a juicy licence agreement to drop with a big name, but putting IP licenses aside, so much has been achieved in the last 12 months. The company's ecosystem has SIGNIFICANTLY improved in comparison to same time last year. The only area where progress has not been made is in revenue. That will come with time and I do believe the ecosystem that has been built has put us in a better position then ever before for those kind of engagements to succeed and IP licences to get across the line.
Today's podcast indicated the focus is now more than ever before on Edge AI within the industry and we are 3-4 years ahead of anyone in this space. Sean himself said all it will take is for one company to throw a new product into the market and the rest will have to follow.
They can spend tens of millions creating their own SoCs or they can licence ours for an upfront fee and cents on the dollar royalty to get a faster time to market.
Revisiting the remuneration report, it is almost laughable that shareholders have for the last 12 months complained continuously that brainchip staff are paid too much, but in the past 12 months we have lost two of our key sales and marketing team members to competitors for salary offers brainchip simply can not compete with. Maybe, just maybe, the brainchip team have a better idea about employee value than us arm chair experts who range from nurses to forklift drivers to accountant's and lawyers.
It only takes 25% to vote against the remuneration report and there is a serious risk of the board spilling.
If you TRULY have an issue with the packages being offered to our executive team, I would implore you to vote FOR the remuneration policy and then vote AGAINST the non-executive director RSU's.
This will send a message to the board without creating an immediate disaster to brainchip by way of a board spill.
The non-execs are currently paid anywhere from $90K to $120K + RSU's for their seat at the table. There is of course the risk that voting against their RSU's results in non-executives resigning in the future because they feel their salary package (no longer comprising of RSU's) is not sufficient for the role, but that's an issue for another day and a far better outcome in my view than the immediate issue we face being the board spilling and the shit show that would follow.
You think brainchip is shorted now. Just wait until the board spills.
It would also be remiss of me to not remind those that have already voted against the remuneration report that you can change your vote if you'd like to do so in light of the above and especially in the event that a contract is announced between now and the AGM which results in your opinion changing.
We're all here for the same reason - short term speed bumps aside, I hope we all end up filthy rich having gone through the shit and out the otherside in the long run!
Cheers!