BRN Discussion Ongoing

[DingoBorat]

The pricing period for the last capital call with LDA, was supposed to end "the sooner of" the 7th of June, or until the shares had been fully subscribed (40 million shares) to satisfy the obligated draw down of 12 million USD by 31 of December 2024 (of which 1.1 million had already been drawn down).

https://announcements.asx.com.au/asxpdf/20240327/pdf/061xk7jk4k6zwb.pdf

We know that according to Sean, the obligation had not been met yet, by the AGM.

We had just under 13 million USD at the end of the last quarter and a cash burn of around 4.5 million USD for it.

So if we had received the appropriately 11 million USD from the previous call, we should still have around 19 to 20 million USD, after the last as yet unreported quarter, assuming similar cash burn?

I think there's a stong possibility, that there are shares outstanding to be sold by LDA (due to the share price dropping through the Company's set threshold) that a new call, with revised parameters, needs to be set for the remainder??..

The "agreement" allowed for extensions of the pricing period, if there were shares unsold remaining, but maybe this option wasn't taken up?..

 

[GazDix]

Do they normally do a TH before a cap raise or is this time different??

Always a TH seeing panicky hands could sell. Standard protocol. But in my experience there is usually a clue who or why in the announcement. As usual, BRN keeps cards close to the chest.

 

[LexLuther77]

Thinking the same...Something (BIG) to announce in the 4C?? .... EDIT ; just trying to stay positive!!!!!

There will be noithing in the 4C that we dont already know. Unless they proide post quarter events...

 

[Boab]

The pricing period for the last capital call with LDA, was supposed to end "the sooner of" the 7th of June, or until the shares had been fully subscribed (40 million shares) to satisfy the obligated draw down of 12 million USD by 31 of December 2024 (of which 1.1 million had already been drawn down).

https://announcements.asx.com.au/asxpdf/20240327/pdf/061xk7jk4k6zwb.pdf

We know that according to Sean, the obligation had not been met yet, by the AGM.

We had just under 13 million USD at the end of the last quarter and a cash burn of around 4.5 million USD for it.

So if we had received the appropriately 11 million USD from the previous call, we should still have around 19 to 20 million USD, after the last as yet unreported quarter, assuming similar cash burn?

I think there's a stong possibility, that there are shares outstanding to be sold by LDA (due to the share price dropping through the Company's set threshold) that a new call, with revised parameters, needs to be set for the remainder??..

Last full year ended Dec 2023 net loss was US$28.9M
If we are burning more cash (hopefully for good reason, apart from wages) with less revenue we could have gone through US$15M already.

 

[7für7]

Just for… you know…. The good mood…positive mindset…

Neuromorphic Computing, AI Hardware and Edge Analytic Market Report | IBM Corporation, Intel Corporation, Brainchip Holdings Limited – Economica

economica.ma

 

[DingoBorat]

Last full year ended Dec 2023 net loss was US$28.9M
If we are burning more cash (hopefully for good reason, apart from wages) with less revenue we could have gone through US$15M already.

How do you work out 15 million USD, over a quarter and 3 weeks?..

That's around 200% increase, from the last quarter's expenditure..

 

[gazar]

There will be noithing in the 4C that we dont already know. Unless they proide post quarter events...

Is there enough time for the acceptance of shares before the 4C ?

 

[7für7]

I can imagine that they was hearing the shareholders in the last AGM screaming “we want more marketing” so my guess is, they was calculating in the previous quarters too less money for marketing reasons. To make more marketing you need more money … since the bigest amount of money goes to development and “go to market strategy” you need to make a CR? just my innocent thoughts

 

[Bravo]

Here's hoping we receive some unexpected news of the positive variety.

 

[DingoBorat]

I can imagine that they was hearing the shareholders in the last AGM screaming “we want more marketing” so my guess is, they was calculating in the previous quarters too less money for marketing reasons. To make more marketing you need more money … since the bigest amount of money goes to development and “go to market strategy” you need to make a CR? just my innocent thoughts

I bet it was those pretty pictures in the LinkedIn posts, that we were all raving about ..

 

[7für7]

Is there enough time for the acceptance of shares before the 4C ?

Ok, how about this? If you and Bravo had bought more shares in the past instead of constantly posting here, we wouldn’t be in this dilemma and situation. Thanks for that

BRAINCHIIIIIIIIIP!!!!!!

 

[Boab]

How do you work out 15 million USD, over a quarter and 3 weeks?..

That's around 200% increase, from the last quarter's expenditur

What I should have said was we may have spent 15m since Jan 1st.

 

[7für7]

I bet it was those pretty pictures in the LinkedIn posts, that we were all raving about ..

I said “innocent thoughts”

 

[DingoBorat]

What I should have said was we may have spent 15m since Jan 1st.

That's still double last quarter's spend, for the one we just had..

Could have been extra costs associated with the VVDN Edge Boxes and other things, but around 5 million USD more?..

 

[Bravo]

Ok, how about this? If you and Bravo had bought more shares in the past instead of constantly posting here, we wouldn’t be in this dilemma and situation. Thanks for that

BRAINCHIIIIIIIIIP!!!!!!

View attachment 66895

If you must know, I topped up another 300,000 shares the other day, so there goes that theory.

 

[7für7]

If you must know, I topped up another 300K shares the other day, so there goes that theory.

Not impressed… are you in the top 10? No…

 

[skutza]

I just got off the phone with GOD. He explained to me that Mercedes are know very happy to use Akida and they will be a cornerstone investor for BRN going forward.




Then I woke up and thought, well it says CR nothing to do with a partnership deal etc. So all hopes of this are gone. We can be as positive as we want, as hopeful as you want, but reality is, its just a CR.

 

[toasty]

The announcement does not say anything about the raise being a rights issue or similar instrument. Could it be a new cornerstone investor? ARM maybe? Makes sense to me that this may be a placement type of raise. Share price is low low low so a buy-in would be very cost effective. I guess we'll find out in a couple of days......................

Note also they say the TH is to allow the raising to occur in an orderly fashion - in 2 days!! Again, to me, this hints at a deal already substantially done.

 

[Bravo]

I just got off the phone with GOD. He explained to me that Mercedes are know very happy to use Akida and they will be a cornerstone investor for BRN going forward.




Then I woke up and thought, well it says CR nothing to do with a partnership deal etc. So all hopes of this are gone. We can be as positive as we want, as hopeful as you want, but reality is, its just a CR.

Fair enough and you may be right. But I prefer to have a positive mindset in order to ward off debilitating depression for as long as possible.

Who is to say it won't be a cap raise with a cornerstone investment from the likes of Tata or Arm?

 

[miaeffect]

The announcement does not say anything about the raise being a rights issue or similar instrument. Could it be a new cornerstone investor? ARM maybe? Makes sense to me that this may be a placement type of raise. Share price is low low low so a buy-in would be very cost effective. I guess we'll find out in a couple of days......................

How about "Consortium" JV ?