BRN Discussion Ongoing

[HopalongPetrovski]

There has already been a lot of debate about Brn redomiciling, Some say that it’s a great idea and some say not.
I am concerned about the fact that Brn have so far shown very little progress with revenue. Yes, I know that there are partnerships and Akida is being used in a variety of products and that interest is building but the SP keeps falling. Quite honestly I believe that most SH are currently waiting on progress but it just keeps getting delayed for various reasons.

I believe that if we vote for Brn to move to US exchange we will lose the ability to interact and have a say in the company’s future. I believe management needs to prove to the SH that we have a strong future. So far, in my opinion, they have not.

Now, I would be all for the move if our current SP was $2-$3 but at 20 cents, no way.

I have held shares in a company that did a share reconciliation and that turned out to be a disaster. All that happened was that the SP was driven down further but instead of having 100,000 shares you now had 5,000.

With the SP being at its current level, it would be disastrous to allow such a move.

I know some people will come at me for daring to state such negativity but we have to look at this honestly.

If Brn have a solid contract that would warrant such a move then ok let’s hear it but if it’s just in the hope that it will make it better, no way.

If at the AGM the SP is still as it is currently then I’m voting NO and urge others to do so.
Just my opinion.

Hi Meatloaf.
My twopennysworth.

Appreciate the sentiment but really don't think that being listed in Australia has allowed us much of a say in the company's future so far.

Yes, once or twice a year we get a meet and greet and an opportunity for a quick fang flash and a hearty handshake, which wouldn't be afforded us without the ASX listing, but frankly, so far, it hasn't really eventuated into much beyond that, and is reflected in our dismal share price.
Yes, it affords us, because it is mandated, a couple of seats on the board, but with no disrespect intended, I don't see that has brought us much value either and consider them as pretty much place holders and figure heads.

I know the company is making headway with expanding eco systems and we have received some solid endorsements from quite a few heavy hitter's but the fact remains that the company is in effect a black hole hoovering up considerable dollars in order to continue existing and producing very little of tangible benefit in return, apart from those drawing a pay check.

Granted, this is just how it is for pre revenue start ups in the tech world, particularly when they are introducing something radical and paradigm shifting.

But, the bottom line gets reached, sooner or later, for both we as individuals and ultimately for the company, as an entity itself.

Whilst Peter VDM was still actively involved dreaming up the tech and steering the bus from Western Australia it was understandable and an historic fact that we were listed on the ASX, but those days are well and truly past tense.
All that's left here now, apart from our large retail share holder base are the dried remnants of the previous institute and some relatively weak educational and minor industrial applications which, whilst welcome, are unlikely to make us a viable concern.

If the Board decides we are better served by redomiciing to the US I think it prudent for us to back them.
For all our intelligence, dot joining and assumptions, none of us are privy to what they know and are aware of regarding both BrainChip's opportunitys and obstacles.

Beyond the access to a larger overall market I think it likely being based in America will give us more credibility and credence, particularly among American investors and American players and companies which are likely to be our way forward.
Australia is a very minor player in the worlds affairs and whilst we may punch above our weight and all that, from a global standpoint, both economically and industrially, the ASX is a pygmy.

I think we all assumed this move would occur sooner or later and would prefer it under more favourable conditions, but again will state the obvious.

If we indeed managed to stamp our little foot and vote down this stated major objective of the Board, where exactly would that leave us?
I fear with a perhaps rudderless, certainly demoralised leadership group, handicapped by their own share holders.
Not a good position from which to move forward.

 

[Flenton]

Maybe the company will surprise us with something special to create a massive short squeeze, but then again this is Brainchip and I’m expecting more negative news like dropping out of the asx 300

View attachment 78673

And maybe the at the AGM Sean will give heart felt speech with some truths in it.
What was said last year... something like we are close. Well at 51 I guess I am close to 100 in comparison to being close to 0.

 

[Bravo]

One must be realistic ..... IMO, the decision / issue to relocate to the USA, has most likely already been made by the Top 20 s/holders.... this newly raised issue is just imo another deflection from the real issues at hand of there being no IP deals being made before this upcoming AGM.

Hi Xray, I don’t think that the decision would have already been made by the Top 20. Tech posted recently that the “retail shareholder base currently holds 58.633% verses the Top 20 with 41.367%.”

I believe the BOD will need somewhere between 50%-75% of shareholders to vote “yes” for successful approval, in which case they will be relying on a great deal of us to get behind it.

I guess we have to ask ourselves why the BOD would even bother putting such a risky proposal forward, if the SP is still in the doldrums and if no other licences, cornerstone investors or other such positive news emerges beforehand, because as I’ve said before, that would have to be the most recklessly stupid idea I’ve ever heard of.

I hope that we receive some positive news of a material nature beforehand. If however, the BOD are simply planning on revealing a “detailed roadmap” (refer to Annual Report) of commercialisation goals, to try and sway us to approve, and if there is nothing genuinely material other than just a roadmap, then I will be seriously unimpressed, and that would be a massive understatement.

 

[Getupthere]

Nine weeks remain until the AGM, and the announcement about relocating to the U.S. stock exchange appears to be a calculated attempt to divert shareholders’ attention from the core issue.

The crux of the matter lies in Sean’s five-year plan failing to deliver the anticipated results after more than three years into the plan.

They assert that the relocation will take nine to twelve months, conveniently providing management with another AGM and another year to evade delivering substantial revenue or new IP sales.

Brainchip’s decision to execute LDA following such disheartening announcements further highlights the poor management of our company.

 

[Mccabe84]

Hopefully as soon as Akida 2000 comes out when gets some IP deals. I think moving to US market is a positive

 

[jrp173]

I have to disagree that top 20 have already approved. 50% plus one shareholder must approve the proposal before it even gets to a vote.

 

[rgupta]

Maybe the company will surprise us with something special to create a massive short squeeze, but then again this is Brainchip and I’m expecting more negative news like dropping out of the asx 300

View attachment 78673

We are waiting for that short squeeze for last 4 years. But every time end up geting long squeeze.
This time news is the worst ever time to the market.

 

[IloveLamp]

Hi Xray, I don’t think that the decision would have already been made by the Top 20. Tech posted recently that the “retail shareholder base currently holds 58.633% verses the Top 20 with 41.367%.”

I believe the BOD will need somewhere between 50%-75% of shareholders to vote “yes” for successful approval, in which case they will be relying on a great deal of us to get behind it.

I guess we have to ask ourselves why the BOD would even bother putting such a risky proposal forward, if the SP is still in the doldrums and if no other licences, cornerstone investors or other such positive news emerges beforehand, because as I’ve said before, that would have to be the most recklessly stupid idea I’ve ever heard of.

I hope that we receive some positive news of a material nature beforehand. If however, the BOD are simply planning on revealing a “detailed roadmap” (refer to Annual Report) of commercialisation goals, to try and sway us to approve, and if there is nothing genuinely material other than just a roadmap, then I will be seriously unimpressed, and that would be a massive understatement.

Agreed @Bravo . Shareholders cannot be reasonably expected to vote yes blindly based on the boards "word" or "projections".

Shareholders currently have very little reason to feel the company has retail shareholder best interests at heart imo and have proven multiple times over in the past few years they care very little for us, despite pvdms best intentions.

Personally i will want good solid guarantees this move will be in the best interests of retail shareholders and will look for far more detail about the proposal before voting affirmatively to any such move.

I bought more shares last Friday and am very confident in the companies long term success and think that ultimately moving to a u.s exchange was inevitable and the best thing long term FOR THE COMPANY.

What i am not confident of is not getting screwed in the process, and if the company wants my vote, they will need to prove what they say.

 

[sleepymonk]

Hi Xray, I don’t think that the decision would have already been made by the Top 20. Tech posted recently that the “retail shareholder base currently holds 58.633% verses the Top 20 with 41.367%.”

I believe the BOD will need somewhere between 50%-75% of shareholders to vote “yes” for successful approval, in which case they will be relying on a great deal of us to get behind it.

I guess we have to ask ourselves why the BOD would even bother putting such a risky proposal forward, if the SP is still in the doldrums and if no other licences, cornerstone investors or other such positive news emerges beforehand, because as I’ve said before, that would have to be the most recklessly stupid idea I’ve ever heard of.

I hope that we receive some positive news of a material nature beforehand. If however, the BOD are simply planning on revealing a “detailed roadmap” (refer to Annual Report) of commercialisation goals, to try and sway us to approve, and if there is nothing genuinely material other than just a roadmap, then I will be seriously unimpressed, and that would be a massive understatement.

well thought through post and level headed.
75% is the requirement though,

https://www.asx.com.au/documents/rules/gn33_removal_of_entities.pdf

page8, note33

 

[rgupta]

We are waiting for that short squeeze for last 4 years. But every time end up geting long squeeze.
This time news is the worst ever time to the market.

Bad timing here means US listing a positive thing only if management can prove worth of technology at asx. But right now it looks like they are running away from their obligations and putting long term holders under train wreck
Dyor

 

[Slade]

Hi Xray, I don’t think that the decision would have already been made by the Top 20. Tech posted recently that the “retail shareholder base currently holds 58.633% verses the Top 20 with 41.367%.”

I believe the BOD will need somewhere between 50%-75% of shareholders to vote “yes” for successful approval, in which case they will be relying on a great deal of us to get behind it.

I guess we have to ask ourselves why the BOD would even bother putting such a risky proposal forward, if the SP is still in the doldrums and if no other licences, cornerstone investors or other such positive news emerges beforehand, because as I’ve said before, that would have to be the most recklessly stupid idea I’ve ever heard of.

I hope that we receive some positive news of a material nature beforehand. If however, the BOD are simply planning on revealing a “detailed roadmap” (refer to Annual Report) of commercialisation goals, to try and sway us to approve, and if there is nothing genuinely material other than just a roadmap, then I will be seriously unimpressed, and that would be a massive understatement.

I agree Bravo. I’m a solid ‘No’ to the move until the BOD can convince me otherwise. Some decent commercial deals would need to be announced.

 

[Pom down under]

One thing is for sure reading everyone’s comments here and over the crapper this has a high probability of failing unless we see a few million on the next quarterly or a solid tier 1 anno

 

[keyeat]

I agree Bravo. I’m a solid ‘No’ to the move until the BOD can convince me otherwise. Some decent commercial deals would need to be announced.

how did the BOD think this was a good idea !

sentiment was already pretty low before the announcement

now its even worse ...

wouldn't it have made more sense to get Tony to reach out to a select few shareholders to get their feedback ... nuts

 

[Meatloaf]

Hi Meatloaf.
My twopennysworth.

Appreciate the sentiment but really don't think that being listed in Australia has allowed us much of a say in the company's future so far.

Yes, once or twice a year we get a meet and greet and an opportunity for a quick fang flash and a hearty handshake, which wouldn't be afforded us without the ASX listing, but frankly, so far, it hasn't really eventuated into much beyond that, and is reflected in our dismal share price.
Yes, it affords us, because it is mandated, a couple of seats on the board, but with no disrespect intended, I don't see that has brought us much value either and consider them as pretty much place holders and figure heads.

I know the company is making headway with expanding eco systems and we have received some solid endorsements from quite a few heavy hitter's but the fact remains that the company is in effect a black hole hoovering up considerable dollars in order to continue existing and producing very little of tangible benefit in return, apart from those drawing a pay check.

Granted, this is just how it is for pre revenue start ups in the tech world, particularly when they are introducing something radical and paradigm shifting.

But, the bottom line gets reached, sooner or later, for both we as individuals and ultimately for the company, as an entity itself.

Whilst Peter VDM was still actively involved dreaming up the tech and steering the bus from Western Australia it was understandable and an historic fact that we were listed on the ASX, but those days are well and truly past tense.
All that's left here now, apart from our large retail share holder base are the dried remnants of the previous institute and some relatively weak educational and minor industrial applications which, whilst welcome, are unlikely to make us a viable concern.

If the Board decides we are better served by redomiciing to the US I think it prudent for us to back them.
For all our intelligence, dot joining and assumptions, none of us are privy to what they know and are aware of regarding both BrainChip's opportunitys and obstacles.

Beyond the access to a larger overall market I think it likely being based in America will give us more credibility and credence, particularly among American investors and American players and companies which are likely to be our way forward.
Australia is a very minor player in the worlds affairs and whilst we may punch above our weight and all that, from a global standpoint, both economically and industrially, the ASX is a pygmy.

I think we all assumed this move would occur sooner or later and would prefer it under more favourable conditions, but again will state the obvious.

If we indeed managed to stamp our little foot and vote down this stated major objective of the Board, where exactly would that leave us?
I fear with a perhaps rudderless, certainly demoralised leadership group, handicapped by their own share holders.
Not a good position from which to move forward.

Hi HP
Thanks for your reply. I understand what you’re saying but management haven’t produced much in the way of IP and revenue is appalling. The SP is now lower than when I brought back in 2020.
There is no guarantee that Brn will achieve anything better by delisting of the ASX. They have to prove that. We can’t just follow blindly.
Mate I’m not expecting much but the SP is dismal and while we blame the shorters, it’s management who have failed to bring in the revenue which was positively talked about without fruition.
I have supported management over the years but this redomiciling really worries me. I’ve got thousands of dollars invested and about 5 years to retirement. The last thing I want to do is lose money because management could not provide what they stated: an explosion of sales, watch the revenue, Ip sales early next year. I mean, how confident are we with current management? Quite frankly, as each day passes and no announcements my confidence deminishes.
Not one us SH knows what’s exactly going on, we are only speculating. Partnerships will take a while to pay off.
Stating that moving to US exchange will be better is only speculation, no guarantees.

That’s just my opinion. To be honest, I’m a bit fed up, and currently would sell up but don’t want to lose money.
We need to stop speculating, speculation only brings about false confidence and disappointment.
And btw I’m not trying to down ramp, I’m just fed up with waiting on some good news that may or may not happen.

 

[davidfitz]

Hi HP
Thanks for your reply. I understand what you’re saying but management haven’t produced much in the way of IP and revenue is appalling. The SP is now lower than when I brought back in 2020.
There is no guarantee that Brn will achieve anything better by delisting of the ASX. They have to prove that. We can’t just follow blindly.
Mate I’m not expecting much but the SP is dismal and while we blame the shorters, it’s management who have failed to bring in the revenue which was positively talked about without fruition.
I have supported management over the years but this redomiciling really worries me. I’ve got thousands of dollars invested and about 5 years to retirement. The last thing I want to do is lose money because management could not provide what they stated: an explosion of sales, watch the revenue, Ip sales early next year. I mean, how confident are we with current management? Quite frankly, as each day passes and no announcements my confidence deminishes.
Not one us SH knows what’s exactly going on, we are only speculating. Partnerships will take a while to pay off.
Stating that moving to US exchange will be better is only speculation, no guarantees.

That’s just my opinion. To be honest, I’m a bit fed up, and currently would sell up but don’t want to lose money.
We need to stop speculating, speculation only brings about false confidence and disappointment.
And btw I’m not trying to down ramp, I’m just fed up with waiting on some good news that may or may not happen.

Ditto

 

[Pom down under]

how did the BOD think this was a good idea !

sentiment was already pretty low before the announcement

now its even worse ...

wouldn't it have made more sense to get Tony to reach out to a select few shareholders to get their feedback ... nuts

Probably did and only asked FF

 

[7für7]

GUYS I’M TALKING RIGHT NOW LIVE ON STAGE…. What the … you doing here?

 

[7für7]

Probably did and only asked FF

Actually no… they asked T&J and he said it would be great..

 

[Gazzafish]

I’m still clinging to my “glass half full” scenario. WHAT IF since Jan 1 BRN has received significant royalties from Renases and Megachips. The BoD know this even if we don’t see it yet. Based on this significant revenue they know that the share price will jump up a LOT when it’s revealed in the quarterly report which will be out before the AGM so it will soften the blow. It’s also the reason they sold 40m shares cheap to LDA at 50 cents a share. LDA won’t sell at a loss, they will want profit. The BOD looking at the revenue have thought “wow, we are seriously going to outgrow the ASX so let’s start thinking about moving to USA. No consolidation of shares needed as the share price is predicted to already be high enough…….. well that’s my dream anyway. DYOR.

 

[Flenton]

Personally i will want good solid guarantees this move will be in retail shareholders best interests and far more detail about moving before voting affirmatively to any such move.

Unfortunately I don't think guarantees are worth anything anymore. We need results not words.