BRN Discussion Ongoing

[Bravo]

Ummm... ChatGPT reckons that regulatory scrutiny would actually be higher if BrainChip redomiciled to the U.S.!

It states:

“Regulatory Scrutiny: SEC filings are stricter; BrainChip may be forced to disclose more detailed financials and pipeline info, which could backfire if weak.”

But hang on a minute—wasn’t one of the key justifications for redomiciling the need to escape the burdens of ASX disclosure rules?

Something doesn’t quite add up. Either the company wants less scrutiny or it’s walking straight into more of it...

Question : BrainChip is considering redomiciling to the US. The share price is currently 25 cents and there has been very little traction in relation to the signing of new licences and the emergence of any decent revenue. Is it likely that BrainChip would confront a similar fate to Blaize with their disappointing experience listing on the NASDAQ?



Chat GPT's Answer: Given BrainChip's current circumstances—a low share price (25 cents), minimal revenue traction, and few new license agreements—a redomicile to the U.S. could indeed expose it to risks similar to those faced by Blaize, which suffered a 75% share price drop within months of its NASDAQ debut via SPAC.


Here’s a breakdown of how the two situations compare and why BrainChip might risk a similar fate if it proceeds without first strengthening fundamentals:

---

BrainChip vs Blaize – Risk Comparison​

Factor	BrainChip (Now)	Blaize (at NASDAQ Listing)
Share Price	$0.25 AUD (~$0.17 USD)	$10.00 USD at listing
Revenue	Minimal, with no clear breakout revenue reported	~$2M TTM, net loss >$70M
Licensing Traction	Sparse updates on commercial deals	Entered market with limited commercial success
Investor Confidence	Waning, due to lack of visibility and delivery	High at listing, quickly eroded
Valuation Expectations	Unclear, likely difficult to justify high valuation in U.S.	Valued at $894M, now down sharply
Market Conditions	Still cautious around deep tech unless backed by revenue	Similar post-SPAC fatigue and skepticism

---

Key Risks of Redomiciling Now​

• Dilution Risk: A U.S. listing could involve raising capital at low valuation, diluting existing shareholders.
• Visibility ≠ Value: Without revenue, a U.S. move would only shine a brighter light on BrainChip's lack of commercial traction.
• Regulatory Scrutiny: SEC filings are stricter; BrainChip may be forced to disclose more detailed financials and pipeline info, which could backfire if weak.
• Investor Sentiment: NASDAQ investors are unforgiving if results don’t materialize quickly. A poor debut could destroy confidence permanently.

---

When Redomiciling Could Make Sense​

• Signing multiple commercial licenses with global players.
• Demonstrating repeatable revenue and clear growth trajectory.
• Securing a credible cornerstone U.S. investor (e.g., Arm, Qualcomm).
• Showing robust customer pipeline metrics and use-case adoption.

---

Conclusion​

Unless BrainChip significantly strengthens its commercial foundation—first—then redomiciling to the U.S. risks repeating Blaize’s trajectory: high expectations, low delivery, and a rapid erosion of shareholder value.

 

[7für7]

I did and it was very informative

Then enlighten us with your insider knowledge—to either calm our minds or stir them up even more, depending on the case…

 

[Pom down under]

Then enlighten us with your insider knowledge—to either calm our minds or stir them up even more, depending on the case…

I ask Lou if I could post his response and he responded with those 4 words. Which made no sense to me, so until I know I can then I won’t and why’s it insider’s knowledge? As Lou is just a share holder like the rest of us.

 

[manny100]

One thing someone at the AGM should ask is managements definition of the word bookings, The statement that we expect higher bookings in 2025.
Think shareholders should know it does,nt mean,IP Licences, Revenue,Sales,Contracts. It means at trade shows talking to parties that’s it, that is what we pay them there generous bonuses for, the same shit they have done the last six years all talk no action. All these partnerships are a way of hiding the fact nobody wants to buy a IP Licence and pay upfront we are giving our IP away in the hope it may result in a saleable item. If it’s not the case then where the fuck is all the revenue from all the items we are supposedly using it in space. Glad I brought a engineering business not!

"last 6 years all talk no action."
They only went fully commercial less than 3 and a half years ago.

 

[7für7]

I ask Lou if I could post his response and he responded with those 4 words. Which made no sense to me, so until I know I can then I won’t and why’s it insider’s knowledge? As Lou is just a share holder like the rest of us.

Insider knowledge refers to you, because you seem to know something we don’t… And why would he post two contradictory messages in the most hostile forum, and then, when it comes to his supposed reply—which is supposedly informative—it suddenly can’t be shared? That makes even less sense to me.

 

[HopalongPetrovski]

I have to disagree with the idea that this AGM is our last real opportunity to make our views known. Shareholders aren’t powerless or voiceless between AGMs. If you want to understand what the board is going to do over the next 12 months, just ask the hard questions about the last 12. Their track record is usually a solid indicator.

Let’s not pretend the timing of the redomicile announcement is accidental. It’s been in the works for months, and now right before the AGM and conveniently after a poor 12-month performance it finally gets released. That’s not transparency… that’s strategy.

This isn’t about open exchanges or selling us on the idea.
It’s about control and narrative management.
And I call BS.

If it is not discussed at this AGM and yet is proposed to be done before the next, when exactly is the opportunity for ordinary shareholders to have any input and engage in an exchange of views with the board?

 

[HopalongPetrovski]

I ask Lou if I could post his response and he responded with those 4 words. Which made no sense to me, so until I know I can then I won’t and why’s it insider’s knowledge? As Lou is just a share holder like the rest of us.

Hi Pom.
So are you now convinced 100% that it was the real Lou DiNardo who made those posts on the crapper?
Whoever made them was clear enough on their opinions.
The controversy is around if it was actually Lou or someone impersonating him.

 

[Pom down under]

Hi Pom.
So are you now convinced 100% that it was the real Lou DiNardo who made those posts on the crapper?
Whoever made them was clear enough on their opinions.
The controversy is around if it was actually Lou or someone impersonating him.

From the response I got 110% and @TECH confirmed it was his email

 

[7für7]

This topic is getting more and more ridiculous… Just like in kindergarten… “The teacher told me a secret… but I’m not allowed to tell you!” “Which teacher?”
“Mhhhmmmm I can’t tell you ”

 

[Guzzi62]

One thing someone at the AGM should ask is managements definition of the word bookings, The statement that we expect higher bookings in 2025.
Think shareholders should know it does,nt mean,IP Licences, Revenue,Sales,Contracts. It means at trade shows talking to parties that’s it, that is what we pay them there generous bonuses for, the same shit they have done the last six years all talk no action. All these partnerships are a way of hiding the fact nobody wants to buy a IP Licence and pay upfront we are giving our IP away in the hope it may result in a saleable item. If it’s not the case then where the fuck is all the revenue from all the items we are supposedly using it in space. Glad I brought a engineering business not!

Tom& Jerry,

IP deals starts with partnerships, that's not that hard to understand, is it?

Smaller companies don't have money for paying for an IP license, so they typically pay more per chip than a company buying an IP.

You and your fellow downrampers keep on harping about the timeline, but you guys seems to forget we are only about 3.5 years into Sean's 5-year plan!
The BoD knows exactly what's going on, and they will already now have a good picture of how his plan is unfolding.
I expect we will know more next week, stay tuned!

Sadly, getting rich quickly didn't pan out for you, maybe try crypto?

 

[TheDrooben]

Exciting news from Chelpis! | Ming Chih

Exciting news from Chelpis! We are proud to announce our strategic collaboration with BrainChip and 盟立自動化股份有限公司 Mirle Automation Corporation to develop a next-generation security solution for industrial robotics. This partnership marks a key milestone in our mission to build a Post-Quantum...

www.linkedin.com

Happy as Larry

 

[manny100]

For perspective another example of the lenghty timeframes to closure.
Renesas took out licence in Dec'20.
Renesas announced it was taping out the chip in Dec'22.
It was likely around Mid 2023 before they received and completed testing the production chip.
That is only around 2 years ago.
Their clients would then perform their own testing before they released it to the public in products.
If Reneses clients are using it for non regulated products we may start seeing results very late this year or next year.
For regulated products eg some health or auto safety add around a couple of years.

 

[HopalongPetrovski]

From the response I got 110% and @TECH confirmed it was his email

Thanks for your response.
But as someone pointed out, that email address and a number of other corroborations were previously disclosed publicly.
I applaud your honouring his confidentiality but it leaves me not much the wiser.
Anyway, as you say, and I have also pointed out, Lou is just a shareholder like the rest of us and certainly entitled to an opinion.
It seems whoever "Loudin" is has stopped posting now and that thread has just turned into another typical crapper crapfest

 

[Bravo]

Another post, another cue,
And once again, it's signed by Lou.

Now the forum's split in two,
Some say “fake,” some swear “true,”

Threads begin without a clue,
Pom declares" I don't give a screw".

But seriously - was that really Lou?
Or was it me? Or maybe you?

The tale unfolded, the madness grew,
'Till no-one knew who was who.

 

[Pom down under]

Thanks for your response.
But as someone pointed out, that email address and a number of other corroborations were previously disclosed publicly.
I applaud your honouring his confidentiality but it leaves me not much the wiser.
Anyway, as you say, and I have also pointed out, Lou is just a shareholder like the rest of us and certainly entitled to an opinion.
It seems whoever "Loudin" is has stopped posting now and that thread has just turned into another typical crapper crapfest

I apologized for me email to him thinking it was someone else and he responded

 

[jrp173]

why does a share consolidation hurt shareholders. pie is still the same size.

The pie may still be the same in terms of $value at listing, however you need to consider the price movement (both up and down) after listing.

Just as an example, but using today share price of 25c, moving to Nasdaq where a share price of $4USD is required, it would be a 25:1 consolidation.

Following the proposed 25:1 share consolidation as part of the transition from the ASX to the Nasdaq, every 25 shares you currently hold will be consolidated into 1 new share. This means the Nasdaq share price will be higher to reflect the smaller number of shares on issue. However, one key risk to consider is that after the consolidation, a 1 cent AUD movement in the original ASX share price would equate to approximately a 16 cent USD movement in the Nasdaq share price (based on an exchange rate of 65 cents AUD to USD).

As a result, the share price on Nasdaq will need to move in much larger increments to deliver the same relative gains you may be used to on the ASX. This reduced price granularity may impact liquidity and increase volatility, making it harder to achieve small, incremental gains — and potentially amplifying both upside and downside price movements.

So being fair, the price movement in the above example will have a much "sharper" affect on your shareholding value (both in terms of share price increase and decrease...

A move to Nasdaq does not guarantee a re-rating as BRN talked about in their price sensitive announcement to shareholders.

 

[MDhere]

Can we move on from this please. Im trump email me at idontgiveafuck@me.com

Now back to brainchip chippers

 

[Doz]

Antonio has already been down this road :

Not good ……

 

[Okeydokey01]

PLEASEEEEEE .... PLEASEEEEE ..... PLEASEEEEEE ....stay away from raising any issues concerning the Company's Re-Domiciling to the USA during this AGM .... IMO, It's not an issue for this AGM ..... let's use our constructive time at this AGM to discuss the real issues of there being no new IP agreements and No meaningful revenues streams ............ leave the Re-Domicile issue until another time or until such time as we are all served with a formal Co ASX notice of the Co's intention to do so ........... once again, I think this is all a diversionary tactic by the Co to bypass the real issues at present and waste s/holders time at the AGM on unrelated side issues.
We all need the Co and BOD's as part of their Fiduciary Duty to give all of us Co S/Holders full and frank disclosure's ... so, please ask them all the questions that may concern you and that need answering by the Co hopfully in a meaningful way and not by way of a so called "Fluff" response.

I 100% agree Xray. It will be important to keep the board on task in responding to the current state of affairs. The time for fluff and bluff is gone. A lot of statements have been made and things implied in past AGM's and podcasts. Sure progress has been made, but very few, if any of these statements delivered with enthusiastic optimism around soon to be realised signings/earnings have materialised. It is time for fact and material information on where the company is at now.

I also agree that the proposition of moving to a foreign exchange is an important one to discuss. However, there are more pressing points that should be first given air time. I have not been able to make sense of the timing of this announcement. It flies in the face of all prior correspondence on the matter. There must be a catalyst which has changed the timeframe, it is the boards responsibility to disclose this voluntarily. I would hope that at very least we are provided a broad stroke update on this in Sean's address. I truly hope it is not simply to defer shareholders attention. However some real transparency next week is critical. An AGM should be an event that provides us with updates and information rather than one that sees us leaving scratching our heads more questions than answers. We have great tech and some wonderful talented individuals on the team, I would hate to think that the efforts of many are being stifled by the actions of a few.

All in my opinion of course

 

[Smoothsailing]

When are the next financial due ?