BRN Discussion Ongoing

[rgupta]

I think it's fair to say, that changes are happening, quicker than anyone anticipated.

Even multi, multi billion dollar successful Companies, make strategic errors.

I don't believe the Company is "intentionally" trying to disadvantage holders.

DB management is responsible for good and bad.Let us see what is coming ahead.
But a mistake by big company can bring them to where intel is today and a mistake by a small company can dilute the entire company like brainchip holders are fearing here.
Regarding intentional or non intentional they must know their holders, they must know how to make a presentation, everything discussed at board meetings need not be out immediately, and there should be some ground work has to go through.
But anyway the arrow is out from the bow and now the only survival for us is management can find some fixes here.
The main fix is management should show us path to be followed. How they are going to get some investments from US before redomicile. If they want to take out investments and go to US that will be cheating.
They have to show us they can handle difficult situations but right now it gets a feeling that Sean is ready to jump the ship.
This is 1st time Sean sold his shares in Jan Feb while the tax season ended in Dec.
Anyway I still feels like a miracle where a invisible helping hand can protect all our investments.
But definately a big no to US listing unless management can prove us it is better for us and they can show they can get funding in US from a tech company or an institutional investor.
Dyor

 

[Mccabe84]

Why should I sell for someone's fault. Look I am down and if it goes down further that will not hurt me more than what it is hurting me now. This management is a blunder and they should be hold responsible for their act.
Yes if you like the management that much then gather support and try to lift the sp, may be I will sell as well.
Right now it is down and that is a proof no one is liking this blunder, a lot are fearful and are out, a lot increase their shorts but there are majority who still are holding and they know someone have to correct things.
Let us wait and watch, but seriously thanks for your suggestion but I am not selling yet.
If you like it you can keep on buying.
Dyor

You just seem to be complaining a lot ( which you're entitled to), that's why I think this may not be for you..

I've got what I'm willing to loose in it but at some point i might buy more.

Anyway I'm voting yes for the move away from the asx

 

[rgupta]

speculation? We have has plenty of positive news since sept'24. Frontgrade, US AFRL, BRN/QV/Lockheed-Martin, Bascom Hunter (Navy Transition), M2, Onsor. Given engagements started 2022 or thereabouts for AKIDA 1000 it is reasonable to expect more news regarding engagements this year.
It is IMO also reasonable to expect that the BOD will have some 'ammo' up its sleeve before the meeting to persuade holders to a YES vote.
Unless the BOD come up with some pretty good reasons indicating future big $$ I doubt that even bigger retail holders would risk the loss of control Aussie holders will experience with a listing in the US.
If it goes through we will be foreign holders.
No sweeteners = No vote = I expect some very positive news before the meeting

Biggest news of 2024 was that arfl contract but in present context that looks in danger right now. Management have to act fast, just telling market that they are thinking about redomicile to US is not a solution here.
Dyor

 

[DingoBorat]

DB management is responsible for good and bad.Let us see what is coming ahead.
But a mistake by big company can bring them to where intel is today and a mistake by a small company can dilute the entire company like brainchip holders are fearing here.
Regarding intentional or non intentional they must know their holders, they must know how to make a presentation, everything discussed at board meetings need not be out immediately, and there should be some ground work has to go through.
But anyway the arrow is out from the bow and now the only survival for us is management can find some fixes here.
The main fix is management should show us path to be followed. How they are going to get some investments from US before redomicile. If they want to take out investments and go to US that will be cheating.
They have to show us they can handle difficult situations but right now it gets a feeling that Sean is ready to jump the ship.
This is 1st time Sean sold his shares in Jan Feb while the tax season ended in Dec.
Anyway I still feels like a miracle where a invisible helping hand can protect all our investments.
But definately a big no to US listing unless management can prove us it is better for us and they can show they can get funding in US from a tech company or an institutional investor.
Dyor

I want to reiterate, that I do not want substantial dilution to occur in this move.

The Company "does" say that we will hold shares "equivalent in value" to our ASX holdings, on a US listing, which is a stretch at best, if there is substantial dilution.

We have to wait for the "Scheme of Arrangement"

They will not make, what has been said to be the necessary 75% vote, if it includes an unwanted shafting.

 

[Pom down under]

By the way why would we need more than 100 million upto 26th June,2026. Our expenses are only 20-25 million a year and we have 25 million in reserve as well. The whole game is to make asx holders bank rupt and then move to US. They can enjoy another 2years with our money in US.

that’s a wry big accusation, what evidence do you have to support it? Or is it presumption

 

[Getupthere]

I'll try to get a response from Peter when I give him a call, he knows all about the loyalty and has met many Australian shareholders, with 3
NED's on the Board from Australia, nothing should ever be taken for granted, my personal attitude is that, we are still making forward steps, yes it's bloody frustrating seeing our share price so damn low, are we undervalued ?? it's hard to say when we see the quarterly revenue, it's depressing, lets be honest...BUT, why are big corporations still engaged with us ? because we have something that's definitely disruptive.

I agree with many of the regular posters, and my opinion really is, the company has to reveal exactly why this moving to the US at this stage
is so important, I want them to be upfront and truly sell me the idea WHY, NOT JUST BECAUSE THEY SAY SO.....many in Australia on this stock
are really hurting, yet we have a brilliant technology, don't you all agree ?

What we really need is AKD II and TENN's to infiltrate the ASX and counter the BOTS once and for all, the trading pattern and individual lines
make me sick......corruption at its finest..........ASIC make me sick as well.......absolutely gutless !!!!

Rant and moan completed..........Tech (stay strong BRN lovers)

I completely agree we deserve a clear, detailed explanation of why this move to the U.S. is so critical right now.

Its not enough to just be told its the right decision, they need to sell us on it with facts, reasoning, and transparency.

Without any valid reason, I classify this as a distraction, and I will not vote for it.

Blindly extending Sean another 12 months without any real accountability is unacceptable.

 

[Pom down under]

Sean if your reading this or getting feedback probably from FF sorry I mean Tony, you’ve eithet got balls of steal or something up your sleeve, let’s hope it’s the latter

 

[Galaxycar]

Must be psychic when I said Sean was selling shares yesterday and we wouldn’t know, Fucken shouldn’t have bonus shares to even sell the parasite,yep board as well sucking all the free shares for doin fuck all.

 

[Guzzi62]

I’ve been a supporter and part owner of Brainchip for about 8 years now, all through the soul sapping lows and rare euphoric ups. I believe in the tech but I’m starting to detect a stench. I’m starting to think that Hehir and Vianna are weasels. They resent being listed on and accountable to the ASX and they resent being accountable to Australian shareholders. I suspect they hate coming to Australia and fronting up at the AGM and being questioned by Australians. ‘The share price will do what the share price will do’ is bullshit and just shows true contempt to thousands of shareholders who have put in their hard earned. BRN knew that the redomiciling announcement would hurt the share price, it was marked price sensitive, and they know that thousands of Australian shareholders hold their shares in Australian super funds because they have full access to the register. I, for one, don’t think that there is any huge revenue making deal around the corner contingent on a US listing. Australia is in AUKUS, we’re a trusted ally right? Surely Australia can help build the iron dome and protect US defence computer infrastructure the same as we can buy second hand nuclear subs and 4th or 5th gen fighters from the US. I think BRN wants to largely divest itself of Australian shareholders and become a fully US company. The question I have is can Aussie shareholders hang on and maybe reap some rewards from the promised land? My opinion is that the redomiciling is going to happen, what happens to us is the question. I’d love to know what PVDM thinks. As a proud Australian and founder surely he doesn’t want us shafted. Sorry for the rant, just feeling a bit shitty with BRN at the moment.

The board including PVDM agreed that it's the best solution.

Quote:
The Board unanimously believes this strategic decision is in the best interests of our shareholders,
our employees, our partners and our existing and future licensees.

No one wants to get shafted, and I think you are overreacting.

Let's see what will be said during the AGM first before crying foul play, shall we?

In the meantime, in the US:

Big Tech is moving quickly and aggressively to ensure it stays on President Trump’s good side.

Companies ranging from Apple (AAPL) and Meta (META) to Google (GOOG, GOOGL) and Amazon (AMZN) have taken steps to improve their standing with Trump, whether that’s through promised investments in American factories or changes to their diversity, equity, and inclusion (DEI) practices.

Apple has promised to pour $500 billion into projects across the US, including sourcing servers for its Apple Intelligence platform from a factory in Texas, while TSMC (TSM) has pledged to spend $100 billion building out new plants in Arizona.

Google renamed the Gulf of Mexico the Gulf of America in Google Maps, cut its DEI efforts, and removed a clause in its AI policy that would have prevented the company from using the technology for weapons.

Meta’s Mark Zuckerberg has installed Trump ally and UFC CEO Dana White as a Meta board member, curtailed DEI programs, and paid $25 million to settle a lawsuit Trump filed after the social media network banned his account following the Jan. 6 attack.

Amazon founder and Washington Post owner Jeff Bezos, meanwhile, has exerted his influence over the Post’s editorial board, preventing it from endorsing Trump’s rival, former Vice President Kamala Harris, in the run-up to the 2024 election and telling the board to focus on personal liberties and free markets.

“There is an old saying in DC that you’re either at the table or on the menu,” explained Edward Mills, managing director and Washington policy analyst at Raymond James. “We saw significant resistance [from tech] in Trump 1.0, and very frequently tech [companies] found themselves on the menu through much more aggressive antitrust actions and a very unfriendly DC. In Trump 2.0 it is clear to me that they are trying to be at the table.”


More in the link:

https://us.yahoo.com/finance/news/how-big-tech-is-trying-to-win-over-trump-200058642.html

 

[Pom down under]

Must be psychic when I said Sean was selling shares yesterday and we wouldn’t know, Fucken shouldn’t have bonus shares to even sell the parasite,yep board as well sucking all the free shares for doin fuck all.

As everyone says it for tax purposes, so maybe he owed the tax man a few million $$$ before he joined us

 

[CrabmansFriend]

Currently, I'm not very happy about how the planned switch to an US stock exchange was communicated either. I would have expected this topic would have at least been combined with some real positive news about substantial revenue. But I don't want to dwell on that now ...

Actually, I just wanted to share a short news article I read yesterday about some aspects of China's efforts around semiconductor related research (as their access to conventional AI chips but also current state-of-the-art manufacturing equipment has been limited for some time).

I know this is absolutely no new dot to connect or any hint on Brainchip's potential hitting the road finally (financially or stock price), but after reading the article below I was asking myself:

What if the Chip War on China will lead to a DeepSeek moment in the future (maybe during the next 2 years or so) but this time not in relation to AI/ML-models but concerning the hardware/chip side?

In terms of what China is studying, neuromorphic computing (based on processors structured like neurons) and optoelectric computing (using light to transfer data within chips) take up the lion's share of modern research coming from China. These are post-Moore's Law technologies to pursue outside the traditional framework of chasing ever-smaller process nodes and, therefore, outside the regulations currently leveled on the Chinese industry.

source: China doubles US research output on next-gen chips amid export bans — trade war fuels a research wave (2025-03-04)

An overview about topics and "research clusters" referenced in the above article (scroll to the headline "Hot topics in chip design and fabrication research"):

source: Hot topics in chip design and fabrication research: insights from the Map of Science

 

[rgupta]

that’s a wry big accusation, what evidence do you have to support it? Or is it presumption


View attachment 78734

https://www.marketindex.com.au/asx/brn/announcements/fourth-amendment-to-lda-put-option-agreement-2A1572233

4th amendment with LDA where LDA can provide upto 140 million dollars to brainchip out of which 68 million is already drawn. Condition of amendment brainchip must draw down 20 million. Upto 30 june 2025.
With new amendment they increase brainchip draw down by 37 million.
So if we did not need that extra 37 million we may not do 20 million. drawdown before 30 th June 2025, we can still get upto 35 million more.
Now after 20 million of draw down we have another limit of 52 million. That limit expires on June 2026.

Dyor

 

[Pom down under]

https://www.marketindex.com.au/asx/brn/announcements/fourth-amendment-to-lda-put-option-agreement-2A1572233

4th amendment with LDA where LDA can provide upto 140 million dollars to brainchip out of which 68 million is already drawn. Condition of amendment brainchip must draw down 20 million. Upto 30 june 2025.
With new amendment they increase brainchip draw down by 37 million.
So if we did not need that extra 37 million we may not do 20 million. drawdown before 30 th June 2025, we can still get upto 35 million more.
Now after 20 million of draw down we have another limit of 52 million. That limit expires on June 2026.

Dyor

No you said

The whole game is to make asx holders bank rupt


What games is that? As id like to know if I’m going to loose all my money.

 

[IloveLamp]

High-speed neuromorphics! 🏎️ 🐎 | Marco Breiling

High-speed neuromorphics! 🏎️ 🐎

www.linkedin.com

In Silizium gegossene Neuronen: KI-Chip SENNA beschleunigt Spiking Neural Networks

Das Fraunhofer-Institut für Integrierte Schaltungen IIS hat einen KI-Chip für die Verarbeitung von Spiking Neural Networks (SNNs) entwickelt. Der Spiking-Neural-Network-Inferenzbeschleuniger SENNA ist von der Funktionsweise des Gehirns inspiriert, besteht aus künstlichen Neuronen und kann...

www.iis.fraunhofer.de

 

[rgupta]

The board including PVDM agreed that it's the best solution.

Quote:
The Board unanimously believes this strategic decision is in the best interests of our shareholders,
our employees, our partners and our existing and future licensees.

No one wants to get shafted, and I think you are overreacting.

Let's see what will be said during the AGM first before crying foul play, shall we?

In the meantime, in the US:

Big Tech is moving quickly and aggressively to ensure it stays on President Trump’s good side.

Companies ranging from Apple (AAPL) and Meta (META) to Google (GOOG, GOOGL) and Amazon (AMZN) have taken steps to improve their standing with Trump, whether that’s through promised investments in American factories or changes to their diversity, equity, and inclusion (DEI) practices.

Apple has promised to pour $500 billion into projects across the US, including sourcing servers for its Apple Intelligence platform from a factory in Texas, while TSMC (TSM) has pledged to spend $100 billion building out new plants in Arizona.

Google renamed the Gulf of Mexico the Gulf of America in Google Maps, cut its DEI efforts, and removed a clause in its AI policy that would have prevented the company from using the technology for weapons.

Meta’s Mark Zuckerberg has installed Trump ally and UFC CEO Dana White as a Meta board member, curtailed DEI programs, and paid $25 million to settle a lawsuit Trump filed after the social media network banned his account following the Jan. 6 attack.

Amazon founder and Washington Post owner Jeff Bezos, meanwhile, has exerted his influence over the Post’s editorial board, preventing it from endorsing Trump’s rival, former Vice President Kamala Harris, in the run-up to the 2024 election and telling the board to focus on personal liberties and free markets.

“There is an old saying in DC that you’re either at the table or on the menu,” explained Edward Mills, managing director and Washington policy analyst at Raymond James. “We saw significant resistance [from tech] in Trump 1.0, and very frequently tech [companies] found themselves on the menu through much more aggressive antitrust actions and a very unfriendly DC. In Trump 2.0 it is clear to me that they are trying to be at the table.”


More in the link:

https://us.yahoo.com/finance/news/how-big-tech-is-trying-to-win-over-trump-200058642.html

100% agree with you. Apple, google can take decisions because they are profit making companies and their management have an established reputation. These companies are worth trillions of dollars and one executive order from Trump can kill them.
In case of brainchip we are not established, just moving to US without any positivity will only ruin us. On top how many holders are confident with current management that they will do in best interests of holders? And upto now how many times they taken the right decisions?
So let the management proved their worth to us before asking any sacrifice.
Dyor

 

[rgupta]

No you said

The whole game is to make asx holders bank rupt


What games is that? As id like to know if I’m going to loose all my money.

I have a simple equation here, if you are listed on US exchange and you are sitting in Australia and all the investors are Australia based, how much interaction you can do with US regulators.
Then at asx it is only 3 trillion worth of market which US is more 50 trillion dollars of markets. Those big sharks we eat our sp in no time and management will again tell us sp will do what it has to do. And what will you and me get??
Dyor

 

[AusEire]

DB management is responsible for good and bad.Let us see what is coming ahead.
But a mistake by big company can bring them to where intel is today and a mistake by a small company can dilute the entire company like brainchip holders are fearing here.
Regarding intentional or non intentional they must know their holders, they must know how to make a presentation, everything discussed at board meetings need not be out immediately, and there should be some ground work has to go through.
But anyway the arrow is out from the bow and now the only survival for us is management can find some fixes here.
The main fix is management should show us path to be followed. How they are going to get some investments from US before redomicile. If they want to take out investments and go to US that will be cheating.
They have to show us they can handle difficult situations but right now it gets a feeling that Sean is ready to jump the ship.
This is 1st time Sean sold his shares in Jan Feb while the tax season ended in Dec.
Anyway I still feels like a miracle where a invisible helping hand can protect all our investments.
But definately a big no to US listing unless management can prove us it is better for us and they can show they can get funding in US from a tech company or an institutional investor.
Dyor

Just on that last bit about Sean getting ready to jump ship and selling shares.

How are you conjuring up this stuff? What gives you the impression that Sean is ready to "jump ship"?

Lastly, yes Sean did sell some shares to pay a tax bill after he exercised his RSUs but his overall holdings increased by 500k shares.

 

[Diogenese]

Like almost everyone else, I'm disappointed by the present SP, and believe that rehousing at this price would be little short of disasterous, and I believe that the board would not have broached the move unless they anticipated a near-term improvement.

There are a couple of recent developments which may be capable of pproducing the type of business improvement required to boost our market capital and generate substantial recurrent revenue.

QV Lockheed PSU M2 cybresecurity

This started as an SBIR project to develop cybresecurity for the US DoE. I didn't hear what the outcome of the SBIR as, but Brainchip are offering an M2 cybresecurity chip suitable for edge access points. That's a massive market. The amount of malware injected into the internet keeps growing at an alarming rate. The capability to detect and terminate malware at the access point in real time is essential. Think of the disruption a trojan attack could cause to online banking, social networks, business, ...

QV's cyberneuro-RT application was developed in conjunction with Lockheed and Penn Uni:

https://www.eenewseurope.com/en/low-power-neuromorphic-processing-boosts-cyberthreat-detection/

Low-power neuromorphic processing boosts cyberthreat detection​

Technology News | January 20, 2025
By Jean-Pierre Joosting

BrainChip Holdings Ltd has integrated its low-power event-based, neuromorphic AI into an innovative cyberthreat intelligence tool that leverages the Akida™ processor to provide protection for WiFi access, home router, small enterprise routers and other network access devices.​

Quantum Ventura developed the CyberNeuro-RT (CNRT) technology in partnership with Lockheed Martin’s MFC Division and Pennsylvania State University under partial funding from the U.S. Department of Energy. BrainChip supplies at-the-edge neuromorphic processing to facilitate on-chip learning for deployment of network-specific attack cyberthreat detection. Akida’s small form factor provides magnitudes less power consumption than a GPU, overcoming form factor and power limitations of internet-connected devices that otherwise would be unprotected.


Micro-Doppler radar Akida 2

https://www.defenceconnect.com.au/i...n-contract-with-air-force-research-laboratory

The producer of neuromorphic artificial intelligence IP, BrainChip, has been engaged in a US$1.8 million contract by Air Force Research Laboratory.

BrainChip will partner with subcontractor(s) to develop comprehensive set of algorithms and neural networks optimised for BrainChip neuromorphic hardware.

The contract, granted under the US federal government’s Small Business Innovation Research (SBIR) program over the 12-month term of the agreement, is expected to develop neuromorphic radar signalling processing.

...

The contract is an expansion of efforts after a multinational aerospace and defense customer successfully demonstrated radar processing algorithms capable of running on BrainChip’s commercial off-the-shelf neuromorphic hardware as part of an internal research and development initiative.

This current program, however, will develop algorithms based on BrainChip’s proprietary state space model algorithm framework known as TENNs (Temporal Event Neural Network) and will be optimised to run on Akida 2.0 hardware.

The BrainChip TENNs algorithm, combined with Akida 2.0 technology, has successfully demonstrated the capability to run models very efficiently, resulting in significantly higher performance at ultra-low power relative to traditional accelerators running traditional models.

This contract is to produce TENNs models/algorithms optimized to run on Akida 2/TENNs. we know that TENNs can run without Akida, but, as Tony Lewis said, they're better together.

DOD SBIR 24.2 | SBIR.gov

legacy.www.sbir.gov

Mapping Complex Sensor Signal Processing Algorithms onto Neuromorphic Chips

OUSD (R&E) CRITICAL TECHNOLOGY AREA(S): Trusted AI and Autonomy; Advanced Computing and Software; Microelectronics; Emerging Threat Reduction

The goal is to outline a versatile approach that can translate algorithms as specified in the Matlab or Python software environment into a neuromorphic model implemented in physical hardware.

There have been a couple of false dawns as far as producing the Akida 2 SoC, but this contract is to produce models/algorithms for Akida 2, so the wheels may be turning in the background (NDA?).

MicroDoppler radar can be used, eg, to detect, identify, and track drones from their propellor rotation signature, so there is an ongoing need for this.

This project has been given priority status by bypassing Phase 1.


Then there was the announcement for Lockheed to set up cybresecurity for UAE (with or without QV).

So there are a few recent announcements which may come to the party

My favourite is the QV Cyberneuro-RT cybersecurity application.

That said, it would be good to have Akida 2 produced in silicon as a result of the microDoppler radar project.

Whether it's one of the above, or one (or more) of the many partnerships/EAPs, the penny has to drop before rehousing.

 

[AusEire]

As everyone says it for tax purposes, so maybe he owed the tax man a few million $$$ before he joined us

He paid roughly $186k in taxes. That would put him on a marginal tax rate of 40%.

My math could be out though So happy to be corrected

 

[rgupta]

Just on that last bit about Sean getting ready to jump ship and selling shares.

How are you conjuring up this stuff? What gives you the impression that Sean is ready to "jump ship"?

Lastly, yes Sean did sell some shares to pay a tax bill after he exercised his RSUs but his overall holdings increased by 500k shares.

RSUs are equivalent of shares. He sell 2.1 million RSU and then convert them in shares.
Regarding Sean jumping the ship that is a guesstimate based upon the facts in last 3-4 years he always sell in Nov,dec and this time he is selling again after selling in NOV earlier as well. For every time he has to pay tax he sell brn shares.
I donot know the same is advance tax or Sean is selling in anticipation that sp will be much lower in Nov Dec this year.
On top there is a lot of pressure regarding redomicile, contract with ARFL, finding a subcontractor and then earlier announcement on asx that sub contractor is signed for 800000 USD, but then providing details in 4c that negotiations are going on with sub contractor, so if the negotiations are still holding them how team brainchip knows costs will be 800000 only. That looks like the earlier subcontractor backs out.
But everything is a guesstimate.
Dyor