BRN Discussion Ongoing

[jrp173]

Hi jpr173,
Very good question.!
Firstly because the report is based on fiction. They really are basing a lot of what is written on presumptions that really have no merit.
And we as shareholders are only to aware, that there is a lack of transparency from our management, for what ever reason. And if management have told them information that we are not privy to, then we really have some problems.
Lets go back to the quarterly. This document was apparently approved by the BOD. Not any particular individual. Does this explain Antonio's Faux Pas at the AGM. Did he ever read the document.? Because to use the vernacular he was swearing black and blue, that he was correct about the domiciling.
As Diogenese and FMF have discussed, their are a lot areas that really don't add up under scrutiny.
And to use ARM as a yardstick of sorts, for our possible future value, is more than fanciful, for something that is supposed to be a professional examination of our prospects.
Who in management was responsible for wasting our money.?

I am placing my hopes for this company, with the likes of Jonathon Tapson, Anthony Lewis and Steve Brightfield and others to carry us through.

​

@White Horse, thanks for taking the time to reply, and sharing your thoughts.

I agreee with your comments on Tapson etc, and I thought the road map was great, and was the kind of details that we shareholders have been screaming out for.

But as for the Trim Report being based on fiction, I personally don't believe that at all. They could not possibly have pulled all of these figures out of the air. They had to have been provided by BrainChip, who commissioned the report. No advisory group/research company is going to make a public statement if they have not been provided with sufficient information from the company in order for them to make assumptions about the company. Why would this risk legal issues with BrainChip and put their company reputation on the line for nothing? It has to be based on facts provided by BRN.

And still the question, why would BrainChip release this report on their website and all of their socials if this was just fiction?

The potential redomicile announcement, the arrogance at the AGM and now this report....... I'm going out on a limb here, but I wouldn't be surprised if there is a takeover on the cards....

I just hope we all get to share in whatever success is going to look like for BrainChip.

Any thoughts on BRN being a potential takeover target?

 

[SERA2g]

T

Admittedly, I've only just started to skim this report and either I'm just having a boy look or I fail to see where it specifically declares that BRN commissioned the report or that Trim / Author(s) received a benefit for doing so?

The disclaimers are the usual "sit on the fence" ambiguous disclaimers to meet regulatory requirements at a minimum imo.

For those saying it should be a ASX Ann, well, the ASX updated the rules a few years ago to stop companies from doing exactly that, hence it's up on their website / socials.

Given BRN did post it, I suspect they are merely trying to provide access to something written for and targeted to wholesale clients, for the wider audience.

Whether they paid for it could be debated, whether they even read it could be debated though, to save a lot of unnecessary posts and angst in forums, I personally prefer they hadn't bothered, but I get it.

It can provide an insight to different methodologies, pros / cons, upside / downside.

Whether you agree with, or even fully understand the content in its entirety, is up to the individual to interpret, get advice on and decide.

No clear categorical statement of being commisioned...why not if it was?

The company covered in this report is currently or may in the future be a research client of Trim Cap Pty Ltd (AR 1276369, ABN 87643977351) a Corporate Authorised Representative of.

Is there any information in the report we can find that isn't available publicly and could have only come from BRN themselves?

The information used to write this report is from public sources only,
including any assistance or information provided by the company for the purposes of preparing this report


ASIC Requirements of research reporting.

HERE

Guidance update on research reports on ASX platform.

ASX updates its guidance on research reports on it... | Clayton Utz

ASX revised guidance concludes that entities should generally not release announcements referring to research reports.

www.claytonutz.com

There's a section in the report that gives Trims revenue expectations vs BRNs. That I'm aware of, other than the $9m in bookings recently mentioned at the AGM, brainchip has never released revenue targets. I wonder where that came from as Trim indicate it is from information released by the company, which can't be correct, unless Brn provided the expectations to them for the report.
The revenue is less than $9m but could come back to Antonio's comments around revenue recognition (accounting policy).

 

[Fullmoonfever]

@White Horse, thanks for taking the time to reply, and sharing your thoughts.

I agreee with your comments on Tapson etc, and I thought the road map was great, and was the kind of details that we shareholders have been screaming out for.

But as for the Trim Report being based on fiction, I personally don't believe that at all. They could not possibly have pulled all of these figures out of the air. They had to have been provided by BrainChip, who commissioned the report. No advisory group/research company is going to make a public statement if they have not been provided with sufficient information from the company in order for them to make assumptions about the company. Why would this risk legal issues with BrainChip and put their company reputation on the line for nothing? It has to be based on facts provided by BRN.

And still the question, why would BrainChip release this report on their website and all of their socials if this was just fiction?

The potential redomicile announcement, the arrogance at the AGM and now this report....... I'm going out on a limb here, but I wouldn't be surprised if there is a takeover on the cards....

I just hope we all get to share in whatever success is going to look like for BrainChip.

Any thoughts on BRN being a potential takeover target?

You do read the "source, estimates, assumptions" disclaimers under the data and graphics yeah?

They even tell you it's from company reports or is Trims estimates or assumptions.

Can you point out what information you found that you believe could only come from BRN?

 

[Wickedwolf]

has Brainchip confirmed that they commissioned the Trim report?

if so can you point me to this please?

IMO this is a rubbish report with little insight in any area, gpt would do a far better job so it’s a big red flag if they are happy to throw away on this nonsense. hoping it wasn’t commissioned by brainchip so the positive then is that independent parties see potential in researching the company, even if they do a pretty pathetic effort.

 

[jrp173]

has Brainchip confirmed that they commissioned the Trim report?

if so can you point me to this please?

IMO this is a rubbish report with little insight in any area, gpt would do a far better job so it’s a big red flag if they are happy to throw away on this nonsense. hoping it wasn’t commissioned by brainchip so the positive then is that independent parties see potential in researching the company, even if they do a pretty pathetic effort.

@Wickedwolf. not directed at you.. but people can think whatever they like, and I don't need to convince anyone, that's their choice.. but the question still remains.. if this report is fiction, why would BrainChip publish the report on all of their social media channels?

@Wick

 

[Fullmoonfever]

@Wickedwolf. not directed at you.. but people can think whatever they like, and I don't need to convince anyone, that's their choice.. but the question still remains.. if this report is fiction, why would BrainChip publish the report on all of their social media channels?


View attachment 84559
@Wick

Probably because BRN thought it would underscore their "Growth Potential" irrespective of what people think about the timeline "assumptions" by Trim.

Also, they can't release it on market as per ASX guidelines so the only channel is socials.

Actual BRN headline on their website.

Trim Capital Report on BrainChip's Growth Potential
5/9/25 20:00

 

[Wickedwolf]

@Wickedwolf. not directed at you.. but people can think whatever they like, and I don't need to convince anyone, that's their choice.. but the question still remains.. if this report is fiction, why would BrainChip publish the report on all of their social media channels?


View attachment 84559
@Wick

Thanks JRP, hadn’t read the disclosure as closely as i should…clearly state’s commissioned report …this is disappointing that they would actually pay someone to do such a highlevel and uninsightful review.

 

[jrp173]

Thanks JRP, hadn’t read the disclosure as closely as i should…clearly state’s commissioned report …this is disappointing that they would actually pay someone to do such a highlevel and uninsightful review.

Wickedwolf, I still can't understand why BRN released it? I'm not taking about why is it not on the ASX, I mean why did they realise it at all??

Just doesn't make any sense to me....I don't see what benefit there is to BRN in releasing this report?

Any thoughts on why they'd want to release it? I can't think of any good reason...

 

[jrp173]

Just as a side issue, the AGM video is not going to be released..

I imagine they are probably mortified at Antonio's behaviour towards shareholders, and embarrassed by the fact that our Execs and NEDs sat silently whilst Antonio made incorrect and blatantly untrue statements.

Pretty poor excuse, it would have been better to not provide an excuse.

Answer from LinkedIn....

 

[Fullmoonfever]

Thanks JRP, hadn’t read the disclosure as closely as i should…clearly state’s commissioned report …this is disappointing that they would actually pay someone to do such a highlevel and uninsightful review.

@Wickedwolf

Can you paste where it clearly states commissioned as I've obviously missed that.

Link as per my previous thoughts.

BRN Discussion Ongoing

DId you ask Peter if he is giving away more shares this year? What's his plan anyway? Giving them away at this level and then being dumped straight into the market did not do us any favour. Hey DK, I had a number of general questions and I am happy with the interaction. Thought I would share...

thestockexchange.com.au

 

[Labsy]

Looks like Brainchip is now with Meta, I’ve always thought the Meta Quest should have Brainchip Akida built in. It’s a perfect fit. Akida’s neuromorphic, event-based architecture excels at ultra-low power edge processing, which is exactly what devices like the Meta Quest need. By offloading tasks like eyeball tracking, gesture recognition, and facial emotion detection to Akida, the headset could achieve faster response times, lower power consumption, and greater privacy by keeping AI inference on-device. This would enable more natural interactions, better immersive experiences, and extended battery life—without relying on cloud processing or bulky compute resources.

View attachment 84522






above is Meta's interview with Yann Lecun where he mentions his coleagues are very interested in neuromorphic processes / spiking neural networks because of their ability to constantly process inference without draining a battery



View attachment 84523

Well, I was watching a tech influencors review of the very popular meta Ray bans, and the general consensus was that it's awesome but battery only lasts 6 hrs. They either need a larger battery which will come at a weight cost, or a better more efficient processor.... Akida baby! Yeah match made in heaven for wearables .... Just a matter of time. They need us. We are in the pole position and the best. Forget the competition... They are shit.

 

[HopalongPetrovski]

 

[suss]

Just as a side issue, the AGM video is not going to be released..

I imagine they are probably mortified at Antonio's behaviour towards shareholders, and embarrassed by the fact that our Execs and NEDs sat silently whilst Antonio made incorrect and blatantly untrue statements.

Pretty poor excuse, it would have been better to not provide an excuse.

Answer from LinkedIn....



View attachment 84564

They could edit attendees out?

 

[Fullmoonfever]

T

There's a section in the report that gives Trims revenue expectations vs BRNs. That I'm aware of, other than the $9m in bookings recently mentioned at the AGM, brainchip has never released revenue targets. I wonder where that came from as Trim indicate it is from information released by the company, which can't be correct, unless Brn provided the expectations to them for the report.
The revenue is less than $9m but could come back to Antonio's comments around revenue recognition (accounting policy).

@SERA2g @Wickedwolf @jrp173

The section on Trim vs BRN revenue forecast clearly states Trim has taken impairment testing values as assumptions via data implied in the BRN FY24 report...Publicly Available.

Does anyone actually read reports or just look at pretty charts and graphs or maybe they do read the reports but just make sh!t up


"Our forecasts are lower than what BRN management expects over the next 5 years, which has been implied in their revenue assumptions used in their impairment testing for intangible
assets (See FY24 Financial Report)"

 

[jrp173]

They could edit attendees out?

maybe, but they've never asked for shareholder permission before.. so why start now??

 

[suss]

Looks like Brainchip is now with Meta, I’ve always thought the Meta Quest should have Brainchip Akida built in. It’s a perfect fit. Akida’s neuromorphic, event-based architecture excels at ultra-low power edge processing, which is exactly what devices like the Meta Quest need. By offloading tasks like eyeball tracking, gesture recognition, and facial emotion detection to Akida, the headset could achieve faster response times, lower power consumption, and greater privacy by keeping AI inference on-device. This would enable more natural interactions, better immersive experiences, and extended battery life—without relying on cloud processing or bulky compute resources.

View attachment 84522






above is Meta's interview with Yann Lecun where he mentions his coleagues are very interested in neuromorphic processes / spiking neural networks because of their ability to constantly process inference without draining a battery



View attachment 84523

 

[Fullmoonfever]

New repository set up yesterday on GitHub by NeuroSyd with the title:

Akida-Seizure.

Nothing added as yet but you'd suspect given what they do at the facility it would be our Akida they either been or will be playing with.

NeuroSyd

NeuroSyd has 37 repositories available. Follow their code on GitHub.

github.com

View attachment 83528

View attachment 83529

NeuroSyd Research Laboratory

NeuroSyd Research Laboratory at the Faculty of Engineering, The University of Sydney, is where emerging paradigms in computing, data science, neuro/bio-engineering and nanotechnology collide. NeuroSyd research is highly multidisciplinary and span over a wide range of fields from Device to Data,

sites.google.com

View attachment 83530

Omid Kavehei

The University of Sydney - Cited by 6,679 - nanoelectronics - medical electronics - affective computing - learning machines - integrated circuit design

scholar.google.com

View attachment 83531

Further to my previous NeuroSyd post.

They have just started uploading the readme, codes, models and scripts.

Looks like similar path as Onsor with regards to epilepsy seizure detection.

GitHub - NeuroSyd/Akida-Seizure

Contribute to NeuroSyd/Akida-Seizure development by creating an account on GitHub.

github.com

• README

This repository contains code implementations for seizure detection leveraging the BrainChip Akida neuromorphic platform.

The models and scripts included here are designed to process, training TUH and EPILEPSIAE EEG data and identify epileptic seizure patterns in real time, utilizing Akida's event-based neural network capabilities for low-power and high-efficiency training at the edge.

This framework proposes a patient-specific approach rather than generalizable.

model.py (training) quantization.py (QAT) akida_convert (online-training) with EPILEPSIAE dataset.

 

[Pom down under]

maybe, but they've never asked for shareholder permission before.. so why start now??

Probably the same cock in the company that wouldn’t allow access the the top 100 share holders

 

[jrp173]

You do read the "source, estimates, assumptions" disclaimers under the data and graphics yeah?

They even tell you it's from company reports or is Trims estimates or assumptions.

Can you point out what information you found that you believe could only come from BRN?

Fullmoonfever, I think perhaps we are misunderstanding one another..

My posts today were initially centred around whether or not BrainChip commissioned the report - I believe they did.

Just to clarify, I'm not suggesting that BRN provided all of the information contained in the report.. clearly the report is the work of Trim Capital, what I was saying is that Trim's assumptions and views have to be based on information that is publicly available and ALSO on information provided to them by BrainChip. The seek out public information and review the information given to them from BrainChip and then they analyse, make assumptions and write their report. That's my view.

You asked for examples in the report that could only have come from BrainChip.. Here's one:

If that reason did not come from BrainChip, why would BrainChip allow Trim to talk about a Nasdaq listing, when Antonio at the AGM, denied this (by saying they never mentioned the US and the redomicile could be "anywhere". So there are only two options, Trim have just made this potential Nasdaq listing up or BrainChip told them this. If they just made it up, Brain Chip would have spotted this error and would have made sure that Trim rectified this error before it was published.

If you don't agree, no worries that's your prerogative.

 

[Rskiff]

Fullmoonfever, I think perhaps we are misunderstanding one another..

My posts today were initially centred around whether or not BrainChip commissioned the report - I believe they did.

Just to clarify, I'm not suggesting that BRN provided all of the information contained in the report.. clearly the report is the work of Trim Capital, what I was saying is that Trim's assumptions and views have to be based on information that is publicly available and ALSO on information provided to them by BrainChip. The seek out public information and review the information given to them from BrainChip and then they analyse, make assumptions and write their report. That's my view.

You asked for examples in the report that could only have come from BrainChip.. Here's one:

View attachment 84587 If that reason did not come from BrainChip, why would BrainChip allow Trim to talk about a Nasdaq listing, when Antonio at the AGM, denied this (by saying they never mentioned the US and the redomicile could be "anywhere". So there are only two options, Trim have just made this potential Nasdaq listing up or BrainChip told them this. If they just made it up, Brain Chip would have spotted this error and would have made sure that Trim rectified this error before it was published.

If you don't agree, no worries that's your prerogative.

Has anyone asked the company if they commissioned the report. It would shut this down straightaway.