BRN Discussion Ongoing

[jrp173]

Yeah. OK. Just had a look back through your history of postings here.
You are very keen on Liebeskind.

And many of your posts reveal that you are pretty disgruntled with the current board and management.
That's ok. Lots are. I have some sympathy with that.

It does however baffle me that Steve Liebeskind will not speak for himself publicly.
He is seeking our votes in order to win a place on the board and yet will not put his case to us.
That is reason enough for me not to vote for him.

PS...... as regards the vote I am certain the Board would demand a unanimous vote on a proposed redomicile, as boards are wont to do in such matters.
They would hardly be likely to try and proceed with a split vote on such a monumental decision.
But none of us know what was included in the discussion leading up to the vote, which is merely the formal resolution.
To pretend otherwise is balderdash.

Your comment above: PS.. as regards the vote I am certain the Board would demand a unanimous vote on the proposed domicile....

This shows you clearly don't understand how a Board works, they CANNOT demand a unanimous vote... That's the whole point of having multiple directors!

You should google what is the role of a NED, but here's a head start for you...

 

[GazDix]

Whatever happens with Brainchip, you cant say it isnt entertaining.....

We get journalist hit pieces, partnerships with world leading defense companies, a whole internet forum is born out of shareholder dedication to the stock, we help build glasses that can detect seizures, we are helping companies build robotic security dogs, we play a constant game of cluedo with Linkedin interactions, and our scandals range from un-ironed table cloths at trade shows to people playing dress up as a disgruntled Ex Ceo.

There is something uniquely batshit insane about being a shareholder of this company, i love every moment of it.

Go BRN

Spot on.

The Brainchip Poster's Spectrum:

Why the hell would you invest in Brainchip?

Does not own any shares.

Posts frequently.

Will give a love or fire emotion if anyone writes anything critical of Brainchip.

Hides behind strong anonymous identities.

‘Revenue… where is the revenue?…’

Focusses on the next AGM meeting and promotes a spilling of the board just one 1 month after the last one.

Will only focus on price when it is in a downtrend.

Will focus on criticizing poster rather than the matter at hand when there is good news.

Suggests but never proves they have insider knowledge.

When any positive announcements are made: ‘Wheeeerrrreee is the revenueeeee?’

Brainwashed Brainchippers:

Have gone ‘all in’ on Brainchip as an investment.

Posts frequently.

Will never give a like or emotion to anyone who makes good points. Other posters are not worthy.

Hides behind strong anonymous identities.

‘If you don’t like it, just sell.’

Thinks that posters who bring up the company’s costly 2 to 3 year mistake of flip-flopping between being IP or chips led is ‘crying over spilt milk’.

Will only focus on price when it is in an uptrend.

Gets very defensive when any kind of bad news is announced or spins a positive light on it.

Is Brainchip still a good bet?

Shares research that could be positive or negative freely.

Celebrates good news, but also acknowledges mistakes and possible red flags of the company.

Can change opinions.

Freely gives out likes when deserved.

Usually posts infrequently.

This is just an initial model. Feel free to adapt / add or subtract as you wish. If feeling offended, check the spectrum above and see that maybe balance isn't really your thing and either improve or shout at it a lot to make you feel better.

 

[Humble Genius]

Maybe best case scenario is a u.s. buyer is lurking in the background, offers the Company 15 billion of dollars (made up figure of course) and they say, right now Brainchip you need to buy back all the australian shares at ($6.27 AUD, the price that you quoted @jrp173 ) and then float it all on the u.s. market under our subsidiary name.

That's all the Australian shareholders have been bought out at the u.s. float price, done and dusted.
Well to me this would be a win win for us shareholders and a win win for the company to move smoothly to u.s.

Then we can all buy the u.s. shares as we wish.

Well I am hoping that my theory is actually reality. And I'm not dreaming, I'm wide awake at work number crunching lol

Your theory/scenario is perfect, and next Tuesday would be perfect timing to bring it up

 

[Fullmoonfever]

Meanwhile...the real author of probably the most talked about recent post on HC and here

Jokes aside and I like to think I don't rant toooo often....I find it amusing and concerning at the same time that people actually give this thing so much oxygen.

Irrespective of whether it is the real Lou or not, I'm surprised people clamour over some ex CEO's post on a forum of his "opinion" like it's some sort of gospel.

Does he have an axe to grind does he not, is he genuine, is he not...who knows.

I don't give a rats how each holder votes as that is their right but all this back and forward here and on HC of posters appearing to try and influence how people should vote is pretty pathetic imo.

If you're invested and play in the market you should be able to put the big boy or girl pants on and make a decision on your own.

 

[HopalongPetrovski]

Your comment above: PS.. as regards the vote I am certain the Board would demand a unanimous vote on the proposed domicile....

This shows you clearly don't understand how a Board works, they CANNOT demand a unanimous vote... That's the whole point of having multiple directors!

You should google what is the role of a NED, but here's a head start for you...

View attachment 83596

Perhaps you have never actually been on a committee.

 

[The Pope]

I am in a similar boat except my buy price is .49c (still up the creek without a paddle) if this redomicile eventuates. I can’t see any positives in our current financial position anyway ? My plan is to set up a SMSF and transfer them into that, this way I shouldn’t be forced to sell at a loss and because they are currently under water there should be no CGT payable just a transfer fee I assume ? Have you considered this option, thoughts ?

I can’t see management batting an eye lid over loss of retail holder wealth unfortunately. The consolidation required, at this point, to even consider a move to the US you would have to think would destroy retail holders wealth. It would be a necessity to even make it possible to list on a US exchange. This one fact alone gives you an insight into the mindset of some of our current BOD

Like others have mentioned I think this Redomicile talk is a distraction tactic to shift focus from our obvious lack of commercial traction, so the freebies are approved and the hard questions are side stepped.
I’m all for a move to the US but in our current state we would first be diluted to oblivion and then because of our lack of revenue and huge operationslal spend crushed by aggressive shorting.

My opinion only…

Fyi - I had placed a number of enquires to my Australian super fund over the past few weeks linked to transferring to SMSF etc if BRN BOD confirm intent to redomicile to US stock exchange. It was a-bit like calling Telstra a few times and getting slightly different responses so went with emails only so they replied via email (recorded)

In short, AustralianSuper does not offer in-specie transfers.

That means no transfers to other retail or industry or SMSF. I also assume other Australian super funds would be exactly the same stance with retail shareholders”

This would mean pending what price you purchased compared to current price then you may be a solid negative value if forced to sell due to redomicile (no duel listing)

If you have BRN shares currently in SMSF then it appears nothing to worry about compared to shareholders who have BRN shares in a Australian super fund (retail or industry by the looks of it)

———————————————————-

I did get a good reply from Tony Dawe a few weeks ago and he replied with this (removed a couple of sentences at start (And Sean was cc)I This was also due to my original email I had cc Sean into the email when sent to tony for a reply)

Most of Tony’s reply is captured below, word for word”. I assume Tony wouldn’t mind given its general wording and doesn’t appear to be personalised information”

“Your position is not dissimilar to other shareholders who have contacted me since Brainchip announced it was investigating a redomiciling to the US, and who have articulated similar issues regard their shareholding in Australian Index linked super funds.

As I have repeatedly stated to other shareholders, the process of investigating the process of redomiciling does not mean that the Board has formally decided to redomicile to the US.

I don’t want to presume what the Board will choose to do, so at present we must wait to see what happens and allow the Directors to conclude their deliberations.

Such an important and strategic decision will not happen without allowing time for consultation and to gather feedback from our shareholders.

We expect this important issue will be discussed at length at the AGM in May and these discussions will be helpful to the Board in making an informed and balanced decision.

The Board is interested in gaining feedback and insights from our shareholders, and I am passing on all the feedback I receive from shareholders to ensure the Board gets to hear the full spectrum of opinions, both positive and negative.

Be assured that the specific issues regarding your super fund and its restrictions on foreign domiciled equities have already been raised by me with our CFO Ken Scarince, who is spearheading our investigation into redomiciling.

Your views, and the views of all shareholders who express an opinion on the matter, will be shared with the Board and if the Board decides to proceed with the decision to redomicile, you and all shareholders will be afforded an opportunity to vote on the matter.

At the end of the day the Board must act in the best interests of shareholders and do what it believes will deliver the best outcome for the future of the Company”
————————————————————-

Also as FYI, I really wanted to go the AGM on Tuesday 6/5 I’m Sydney to chat more with BRN management team but unfortunately I will not be able to attend in person. I have attended the last few years in person. I will be attending online though and post questions for BRN BOD to r hopefully respond to. I hope all attendees post really good questions to the BRN BOD and Sean.

However, I do recall again at last AGM that there a number of questions left unanswered or put on notice but don’t recall BRN providing offical responses back for attendees to review.

Cheers

 

[manny100]

For those concerned about Renesas see link and quote below. Renesas was working with a 3rd party taping the chip.
Renesas is taping out a chip using the spiking neural network (SNN) technology developed by Brainchip. - BrainChip
" “Now you have accelerators for driving AI with neural processing units rather than a dual core CPU. We are working with a third party taping out a device in December on 22nm CMOS,” said Chittipeddi."
Working with a third party.

 

[Bravo]

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

Thanks OKD,

You said "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".

What do you think the catalyst might be? What in your mind could have provoked the "change of heart" to alter management's decision about a listing in the US, when up until the last AGM they didn't mention it at all, in fact I remember it being actively negated.

 

[manny100]

The AI wait has just started. We have got in early with plenty of run way to make $$$$.
See link below. The adoption of AI has only just started. The impatient are getting very anxious.
AI Adoption Timeline Estimates - by AnEngineerInvestor

AI Adoption Estimates:
"​

• 0% → 1% (2020 - 2025):
  • Early adoption phase with AI-driven automation, chatbots, and generative models.
  • Enterprises experimenting with AI in finance, healthcare, and software development.
• 1% → 50% (2025 - 2035, Estimated):
  • Mass adoption across industries, increasing integration into daily workflows.
  • AI-driven decision-making, automation, and personal AI assistants become mainstream.
  • Governments and businesses invest heavily in AI infrastructure.
• 50% → 100% (2035 - 2045, Estimated):
  • AI reaches near-total penetration in business and consumer applications.
  • Widespread autonomous systems, AI-driven healthcare, and education.
  • Potential regulatory frameworks and ethical considerations shaping the final stage of AI adoption.

 

[Bravo]

The AI wait has just started. We have got in early with plenty of run way to make $$$$.
See link below. The adoption of AI has only just started. The impatient are getting very anxious.
AI Adoption Timeline Estimates - by AnEngineerInvestor

AI Adoption Estimates:​

"​

• 0% → 1% (2020 - 2025):
  • Early adoption phase with AI-driven automation, chatbots, and generative models.
  • Enterprises experimenting with AI in finance, healthcare, and software development.
• 1% → 50% (2025 - 2035, Estimated):
  • Mass adoption across industries, increasing integration into daily workflows.
  • AI-driven decision-making, automation, and personal AI assistants become mainstream.
  • Governments and businesses invest heavily in AI infrastructure.
• 50% → 100% (2035 - 2045, Estimated):
  • AI reaches near-total penetration in business and consumer applications.
  • Widespread autonomous systems, AI-driven healthcare, and education.
  • Potential regulatory frameworks and ethical considerations shaping the final stage of AI adoption.

But BRN doesn't have a great run way Manny!

By comparison, Weebit has a little under $100 million (that is 31 quarters) in runway at their current burn rate.

I'm not trying to be a pain in the arse, I'm trying to point out the obvious.

BrainChip needs to turn a profit soon or we won't survive (unless we cap raise YET AGAIN and continue to get diluted to the max).

 

[manny100]

Spot on.

The Brainchip Poster's Spectrum:

View attachment 83597

Why the hell would you invest in Brainchip?

Does not own any shares.

Posts frequently.

Will give a love or fire emotion if anyone writes anything critical of Brainchip.

Hides behind strong anonymous identities.

‘Revenue… where is the revenue?…’

Focusses on the next AGM meeting and promotes a spilling of the board just one 1 month after the last one.

Will only focus on price when it is in a downtrend.

Will focus on criticizing poster rather than the matter at hand when there is good news.

Suggests but never proves they have insider knowledge.

When any positive announcements are made: ‘Wheeeerrrreee is the revenueeeee?’

Brainwashed Brainchippers:

Have gone ‘all in’ on Brainchip as an investment.

Posts frequently.

Will never give a like or emotion to anyone who makes good points. Other posters are not worthy.

Hides behind strong anonymous identities.

‘If you don’t like it, just sell.’

Thinks that posters who bring up the company’s costly 2 to 3 year mistake of flip-flopping between being IP or chips led is ‘crying over spilt milk’.

Will only focus on price when it is in an uptrend.

Gets very defensive when any kind of bad news is announced or spins a positive light on it.

Is Brainchip still a good bet?

Shares research that could be positive or negative freely.

Celebrates good news, but also acknowledges mistakes and possible red flags of the company.

Can change opinions.

Freely gives out likes when deserved.

Usually posts infrequently.

This is just an initial model. Feel free to adapt / add or subtract as you wish. If feeling offended, check the spectrum above and see that maybe balance isn't really your thing and either improve or shout at it a lot to make you feel better.

Accurate based on observations.

 

[dippY22]

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

Okey-dokey wrote:
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 agree there must be a catalyst, but whether there is a responsibility for the board to disclose it is beyond my pay grade. I am not a corporate lawyer.
So whether the board should disclose or not will not be addressed by me. You may be right OD.


However, as to the catalyst which has changed there certainly are some possibilities that have surfaced in the past year. In my mind a catalyst may be a specific deep pocketed company which has become most interested in Brainchips technology in the past year.

Large companies such as Airbus, and RTX come to mind. Both have demonstrated an interest, or partners they work with (Neurobus + Airbus) have.
But, Brainchip isn't seeking to redomicile to France are they? And Frances market is significantly larger than Australia's. So what about that catalyst?

I propose that a company like RTX is significant enough and potential contract(s) lucrative enough for RTX to be that catalyst. But is contracting with a large US defense contractor like rolling out of bed, ....or easy? I think not. And if RTX tells Brainchip if they can move their ass over here (America) quickly RTX could be the sugar daddy whose potential contract funds Brainchip for five years +/-. Now where have I heard that line before?
Oh, yeah,...Antonio Vianna, .....Chairman of the Board. Ahhhh, ....Never mind him, he was probably just blowing smoke to shut people up.

Now, does anyone here think if RTX was interested in giving Brainchip a long term contract or take a minority interest in the Brainchip company that RTX would announce such a thing publicly? Well, I don't.

But what I do believe is the Antonio was revealing some truth when he did as Bravo' new best friend, her chatbot, suggested.....reveal something, anything to perhaps reflect that the company is close, REAL close to busting the big one,.....and the defense contractors *** in the USA are very interested in Brainchips technology (imo). And we know the RTX is dipping their toe in the Brainchip pool. Perhaps, they would jump in all the way if just a few more conditions that MUST BE MET are met. Like maybe redomiciling to the US for meeting RTX and US government regulations related to defense or top secret work.

Who knows. I don't know. Maybe no one knows. But our key exec's know some things. That much I know.

I stand with Brainchip and their executive team.

Regards, dippY

*** or Anduril (about 15 minutes drive from Brainchips office)
or NASA
or Boeing
or .....

 

[manny100]

But BRN doesn't have a great run way Manny!

Weebit, for example, has a little under $100 million (that is 31 quarters) in runway at their current burn rate.

I'm not trying to be a pain in the arse, I'm trying to point out the obvious.

BrainChip needs to turn a profit soon or we won't survive (unless we cap raise YET AGAIN and get diluted to the max).

Yes I see your point about cash burn and time.
Brainchip in general has a longer sales cycle than Weebit whose customers are generally after memory solutions in the already established semi conductor industry.
BRN is a new way of doing things, ie a complete change and trying to break into many diverse markets which involves customer resistance, integration, training, long testing timeframes. So far space to Epilepsy seizure warning to surf watch to US Afrl to predictive maintenance on oil rigs etc. Diverse in the extreme.
While our reach is broader than Weebit's ours is is a way harder nut to crack.
It will be interesting to compare the 2 in say 5 years.

 

[Bravo]

Yes I see your point about cash burn and time.
Brainchip in general has a longer sales cycle than Weebit whose customers are generally after memory solutions in the already established semi conductor industry.
BRN is a new way of doing things, ie a complete change and trying to break into many diverse markets which involves customer resistance, integration, training, long testing timeframes. So far space to Epilepsy seizure warning to surf watch to US Afrl to predictive maintenance on oil rigs etc. Diverse in the extreme.
While our reach is broader than Weebit's ours is is a way harder nut to crack.
It will be interesting to compare the 2 in say 5 years.

Hi Manny,

Thanks for your response!

You say while our reach is broader, in addition "ours is a harder nut to crack" and yet we don't have anywhere near the money in reserve that WBT does?

All I'm suggesting is that the opportunity for shareholders to ask the difficult questions of management presents itself now at the AGM.

These difficult questions need to be respectfully asked and answered IMO.

 

[Bravo]

Meanwhile...the real author of probably the most talked about recent post on HC and here


View attachment 83595

Jokes aside and I like to think I don't rant toooo often....I find it amusing and concerning at the same time that people actually give this thing so much oxygen.

Irrespective of whether it is the real Lou or not, I'm surprised people clamour over some ex CEO's post on a forum of his "opinion" like it's some sort of gospel.

Does he have an axe to grind does he not, is he genuine, is he not...who knows.

I don't give a rats how each holder votes as that is their right but all this back and forward here and on HC of posters appearing to try and influence how people should vote is pretty pathetic imo.

If you're invested and play in the market you should be able to put the big boy or girl pants on and make a decision on your own.

Hi FMF,

I pulled my great-big-oversized-girl panties up and I still found myself asking the very pertinent question, why the heck wouldn't Tony Dawe or someone at BrainChip be able to either dismiss or confirm whether the former CEO, Lou DiNardo, is now presently shit-canning BRN on both TSEx and the Crapper?

I found no satisfactory answers were forthcoming.

HELP!!

 

[Rach2512]

The road to commercial success for neuromorphic technologies - Nature… | Neuromorphicism

https://lnkd.in/dQXZ42RX

www.linkedin.com

Sorry if already posted.


Akida mentioned a couple of times.

 

[jrp173]

Perhaps you have never actually been on a committee.

A committee? Are you serious? This isn't the boys scouts or your local footy team, this is an ASX listed company regulated by ASIC.

Reminding you of your original comment - as regards the vote I am certain the Board would demand a unanimous vote on the proposed domicile....

NEDs have a legal obligation to act in the best interests of the company and its shareholders, and to exercise reasonable care and diligence. The board can not demand or dictate how a NED votes.

If the Board can "demand" and therefore dictate how directors vote, why do we have 4 non executive directors getting paid from a $700,000 salary pool (not including bonuses). The NED's role would be absolutely pointless if what you wrote was true (which of course it is not).

You are just embarrassing yourself now.

 

[Frangipani]

On 1 December 2024, both @Humble Genius and @Kamikaze kai shared the following LinkedIn post by Sounak Dey from TCS Research with us:

#icpr | Sounak Dey

Sometimes back, our work focus was on the use case of "In-car Driver Drowsiness Detection". We did the usual tasks of designing a Spiking Neural Network (SNN) and then deploying it on BrainChip Akida 1000 neuromorphic board. The model has achieved upto 92% accuracy on four classes. Energy...

www.linkedin.com

View attachment 83536

View attachment 83540


Yesterday, the work he referred to, which was presented at ICPR 2024 in Kolkata (1 - 5 December 2024) by Sounak Dey’s and Chetan Kadway’s co-author Ajoy Dey, was published online (the text beyond the abstract is, however, behind a paywall):

Towards On-Device Learning and Personalization: A Case of In-Car Driver Drowsiness Detection System Using Neuromorphic Computing

Car accidents due to driver drowsiness is a very serious pan-world problem. At present there are few AI-based drowsiness detection and alert systems, but they are not suitable for cars due to their requirement of large memory, power, and latency and...

link.springer.com

View attachment 83537
View attachment 83538
View attachment 83539

Speaking of driver fatigue and distraction detection:

A so far underrated player in the Edge AI space is FotoNation.
This computer vision AI solutions company headquartered in Galway, Ireland, with a second engineering office in Brasov, Romania, was originally founded in 1997. In 2008, it was acquired by Xperi (then known as Tessera), and subsequently in January 2024 by Tobii, which calls itself “the global leader in eye tracking and pioneer of attention computing.”

Only ten months later, though, in November 2024, FotoNation was re-launched as its own brand after “a Management Buy Out led by three of its legacy executives Petronel Bigioi, Sumat Mehra and Eran Steinberg.”

These industry veterans behind FotoNation have now firmly set their eyes on the Edge AI market, offering “ultra-low power embedded Edge AI solutions”. Given they have successfully commercialised their tech in the past, they shouldn’t be dismissed as just another startup that has to build up an ecosystem from scratch.

LinkedIn Login, Sign in | LinkedIn

Login to LinkedIn to keep in touch with people you know, share ideas, and build your career.

www.linkedin.com

FotoNation

www.fotonation.com

https://www.fotonation.com/fotonation-completes-a-hat-trick-management-buyout/

FotoNation completes management buyout, returning company founders to leadership – The Dead Pixels Society

Imaging technology leader FotoNation has done now for the third time what other companies can’t do once: Complete a management buyout by the founders. FotoNation is a leading provider of ultralow…

thedeadpixelssociety.com

https://corporate.tobii.com/press-releases/single.html?slug=tobii-divests-some-imaging-assets-acquired-from-fotonation-90bc4ba0

“Tobii has divested certain research and development activities, including assets related to chip-level hardware, firmware, and imaging technology, to the former founders of FotoNation. As consideration for the divestment, Tobii holds a minority stake of 19.9 percent in the new company. The divestment will result in a total reduction of around 35 employees.”

---

Yesterday, FotoNation posted on LinkedIn about their vision to revolutionise road safety with the help of an AI-powered sensor in collaboration with their joint venture partner CameraMatics, having secured more than € 6 million in funding from Enterprise Ireland’s Disruptive Technologies Innovation Fund.

Car crashes due to fatigue could be ‘entirely eliminated’ by AI-powered sensor

'The future of this technology, whether it is us or somebody else designing it, will be in every car in the world in about 10 years time,' says Tom Farrell of CameraMatics

www.irishtimes.com

Business

Car crashes due to fatigue could be ‘entirely eliminated’ by AI-powered sensor​

Technology under development by two irish companies could also detect drivers on phones or looking away from road​

​

A joint venture, between fleet-safety technology company CameraMatics, and FotoNation, a computer-vision AI solutions firm, aims to eliminate the need for cameras in driver fatigue and distraction monitoring systems. Pictured, from left, are Gabriel Costache and Petronel Bigioi of FotoNation, and Daragh McDonnell, Paulo Zanni and Rob Eviston of CameraMatics

Hugh Dooley

Fri Apr 18 2025 - 14:14

A new AI-powered sensor that could prevent car crashes caused by driver fatigue, distraction and illness has received more than €6 million in funding.
Two Irish companies behind the project have secured the financing from the Disruptive Technologies Innovation Fund.

The joint venture, between fleet-safety technology company CameraMatics, and FotoNation, a computer-vision AI solutions firm, aims to eliminate the need for cameras in driver fatigue and distraction monitoring systems.

Fatigue is a factor in as much as 20 per cent of all road traffic collisions, according to the European Road Safety Observatory, with mobile phone use a cause of as much as 30 per cent of all cases. The in-development technology is aiming to eliminate those crashes.

“What this technology does is it scans the cabin of the vehicle, analysing the driver in terms of their face and body to identify when someone is falling asleep,” says CameraMatics chief marketing officer Tom Farrell, with the product alerting or awakening the driver using sound.

The technology will also detect when someone is looking away from the road or is using a mobile phone or even having a medical issue, but without the use of cameras which, the company says, “can raise issues around privacy”.

Instead of cameras, the companies are hoping to use “neuromorphic sensing” – technology to create computer-intelligible images that are not readable by humans.

While CameraMatics operates similar fleet-safety technologies in commercial vehicles, it has identified the private car market as the focus for the new technology – in which, the company says, they have seen “immediate demand”.

“The future of this technology, whether it is us or somebody else designing it, will be in every car in the world in about 10 years time,” said Mr Farrell.

Mervyn O’Callaghan, chief executive of CameraMatics, said the development of the technology could “generate hundreds of tech jobs in Ireland and in other global markets CameraMatics operates in”.

Petronel Bigioi, chief executive of FotoNation, said the technology “could save thousands of lives around the globe” and has the “potential to entirely eliminate road traffic accidents caused by distracted driving and fatigue”.

Imelda Lambkin, Disruptive Technologies Innovation Fund manager at Enterprise Ireland, said the technology “will dramatically impact road safety”.

The project is being developed in conjunction with the Center for Computational, Cognitive and Connected Imaging (C3I) at of Galway and the Centre for Advanced Photonics and Process Analysis (CAPPA) at Munster Technological University.

---

Nine months ago, researchers from FotoNation and the University of Galway published a paper titled “Spiking-DNN: Neuromorphic Event Camera based Driver Detection with Spiking Neural Network”, which proves they have been exploring SNNs:

While the above reference to future work with regards to evaluating their approach on neuromorphic hardware “such as the Loihi-2 chip from Intel” doesn’t exclude the possibility of it (also) being evaluated on Akida, we should consider them competition as long as not confirmed otherwise (eg by a partnership announcement).

 

[Humble Genius]

Fyi - I had placed a number of enquires to my Australian super fund over the past few weeks linked to transferring to SMSF etc if BRN BOD confirm intent to redomicile to US stock exchange. It was a-bit like calling Telstra a few times and getting slightly different responses so went with emails only so they replied via email (recorded)

In short, AustralianSuper does not offer in-specie transfers.

That means no transfers to other retail or industry or SMSF. I also assume other Australian super funds would be exactly the same stance with retail shareholders”

This would mean pending what price you purchased compared to current price then you may be a solid negative value if forced to sell due to redomicile (no duel listing)

If you have BRN shares currently in SMSF then it appears nothing to worry about compared to shareholders who have BRN shares in a Australian super fund (retail or industry by the looks of it)

———————————————————-

I did get a good reply from Tony Dawe a few weeks ago and he replied with this (removed a couple of sentences at start (And Sean was cc)I This was also due to my original email I had cc Sean into the email when sent to tony for a reply)

Most of Tony’s reply is captured below, word for word”. I assume Tony wouldn’t mind given its general wording and doesn’t appear to be personalised information”

“Your position is not dissimilar to other shareholders who have contacted me since Brainchip announced it was investigating a redomiciling to the US, and who have articulated similar issues regard their shareholding in Australian Index linked super funds.

As I have repeatedly stated to other shareholders, the process of investigating the process of redomiciling does not mean that the Board has formally decided to redomicile to the US.

I don’t want to presume what the Board will choose to do, so at present we must wait to see what happens and allow the Directors to conclude their deliberations.

Such an important and strategic decision will not happen without allowing time for consultation and to gather feedback from our shareholders.

We expect this important issue will be discussed at length at the AGM in May and these discussions will be helpful to the Board in making an informed and balanced decision.

The Board is interested in gaining feedback and insights from our shareholders, and I am passing on all the feedback I receive from shareholders to ensure the Board gets to hear the full spectrum of opinions, both positive and negative.

Be assured that the specific issues regarding your super fund and its restrictions on foreign domiciled equities have already been raised by me with our CFO Ken Scarince, who is spearheading our investigation into redomiciling.

Your views, and the views of all shareholders who express an opinion on the matter, will be shared with the Board and if the Board decides to proceed with the decision to redomicile, you and all shareholders will be afforded an opportunity to vote on the matter.

At the end of the day the Board must act in the best interests of shareholders and do what it believes will deliver the best outcome for the future of the Company”
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Also as FYI, I really wanted to go the AGM on Tuesday 6/5 I’m Sydney to chat more with BRN management team but unfortunately I will not be able to attend in person. I have attended the last few years in person. I will be attending online though and post questions for BRN BOD to r hopefully respond to. I hope all attendees post really good questions to the BRN BOD and Sean.

However, I do recall again at last AGM that there a number of questions left unanswered or put on notice but don’t recall BRN providing offical responses back for attendees to review.

Cheers

"As I have repeatedly stated to other shareholders, the process of investigating the process of redomiciling does not mean that the Board has formally decided to redomicile to the US."
Hmmm, wouldn't you do your homework about redomiciling before making it known to your pool of shareholders, or where they trying to create mass hysteria!

"We expect this important issue will be discussed at length at the AGM in May and these discussions will be helpful to the Board in making an informed and balanced decision."
As some have stated on here, here is Tony D stating the smoke screen will tie up a substantial amount of time during the proceedings, minimising the time available for people to ask the important questions and get the answers they deserve.


Similar to what others have stated here, and imo, the redomicile topic should not be discussed at the agm. There really is no decision by management to redomicile, so this should not take up any valuable time at the AGM. Only the hard questions need to be asked about revenue, licences, etc, otherwise we run out of time and have those important questions left unanswered or just avoided. The pressure should be kept on the real problems that the company is facing right now, over anything else.

 

[MDhere]

"As I have repeatedly stated to other shareholders, the process of investigating the process of redomiciling does not mean that the Board has formally decided to redomicile to the US."
Hmmm, wouldn't you do your homework about redomiciling before making it known to your pool of shareholders, or where they trying to create mass hysteria!

"We expect this important issue will be discussed at length at the AGM in May and these discussions will be helpful to the Board in making an informed and balanced decision."
As some have stated on here, here is Tony D stating the smoke screen will tie up a substantial amount of time during the proceedings, minimising the time available for people to ask the important questions and get the answers they deserve.


Similar to what others have stated here, and imo, the redomicile topic should not be discussed at the agm. There really is no decision by management to redomicile, so this should not take up any valuable time at the AGM. Only the hard questions need to be asked about revenue, licences, etc, otherwise we run out of time and have those important questions left unanswered or just avoided. The pressure should be kept on the real problems that the company is facing right now, over anything else.

Agree HG however I am guessing that under all the NDAS that the board has to be hush hush on they don't see any problems because of these NDAS but we on the other hand are blind as a bat and waiting for those fluffy words of watch the financials and explosion of sales, this to me is the problem that the board needs to face even though they knows what's behind that curtain of NDAs. This Agm will be interesting. Bring on 2 more days of maybe just maybe one or two rabbit tricks that we all been waiting for..... def need some solid positive vibes.