There has been much said about the failure of Brainchip Inc employees to buy Brainchip shares on market most of which is either uniformed or deliberately dishonest.
Since 2020 the company has stated in writing and in oral presentations that it has multiple NDAs some of which have been disclosed now such as NASA, Ford, Valeo, Mercedes Benz, Renesas and Mega Chips. In more recent months the company has also disclosed a number of commercial partnerships with the likes of ARM, Edge Impulse, Prophesee, SiFive, Intellisense, ISL (formerly an NDA EAP), US Airforce Research and Nviso.
Since 2020 retail shareholders have begged the company for more information about these NDAs including the non disclosed 10 or so others and these commercial partnerships and have been advised on multiple occasions that these companies as a result of their NDAs and desires to keep secret what they are intending or hoping to do with AKIDA have insisted that Brainchip and employees keep these details secret.
Indeed Rob Telson in a very popular interview much cited here stated that NASA was looking at AKIDA for vision and other things that
they were prohibited from talking about.
More recently it has been cited time and time again on these threads since the May, 2022 AGM that the CEO Sean Hehir stated that the only way retail shareholders will be able to follow the progress of the company
as a result of customer demands for secrecy is to look to the 4C’s.
In keeping these details secret
ALL OF BRAINCHIP’S BOARD AND KEY MANAGEMENT PERSONNEL (and likely most employees) will be in possession of information that you the retail shareholder do not have, and if you did have this information to the exclusion of the market generally, it would permit you to trade either for profit or to minimise your future losses, and in so doing you would be insider trading.
The rules that apply to you as a retail investor not to engage in insider trading if you stumbled across this information apply to
ALL OF BRAINCHIP’S BOARD AND KEY MANAGEMENT PERSONNEL (and likely most employees) at Brainchip.
It is of course convenient for some here to ignore the fact that Tony Dawe was prior to joining Brainchip Inc a retail shareholder of Brainchip Inc and continues to hold his shares and has lamented to various shareholders in his written communications that he is prohibited from buying shares on market in Brainchip Inc.
Why would this be so? Perhaps using a little imagination you might work out that working closely as he does with Peter van der Made at the Perth Innovation Centre Tony Dawe has insider knowledge of patents and technological developments around cortical columns for example which you as an ordinary retail shareholder are not privy.
I have posted about this in the past and the law and how it applies to Insider Trading which is straight forward and easy to understand and so I am left to ponder the motives of some who I know would have read my previous posts on this subject yet who are raising this subject today.
Of course I note that one of these posters has claimed over a number of weeks a desire to purchase more Brainchip Inc shares when funds become available and yet this poster is constantly posting negative views supported by nothing other than anxiety but has now moved to posting completely misleading opinions about the failure of Brainchip’s Board and Key Management to buy shares on market when this poster must know they are prohibited from doing so by law.
Unless this poster does not believe any of the company statements regarding the desire of the undisclosed NDA’s and those who have been disclosed to keep secret what is being done with Brainchip’s AKIDA technology then the following clause from the ASX Guidance Note No.27 covering Insider Trading is the complete answer as inconvenient as it is for them and those who are trying to manipulate other retail and drive down the share price to their advantage. Perhaps they are not trying to do this and just like to raise fear and doubt in others for kicks or are complete fools who have absolutely no idea and are prepared to say whatever rubbish comes into their heads. It is not for me to judge.
4.6. A cautionary note about the application of insider trading laws
It should be noted that the fact a trade occurs during a permitted trading window, or outside a black-out period, under an entity’s trading policy does not preclude it from breaching insider trading laws, if it is undertaken or procured by someone in possession of inside information at the time. ASX would therefore recommend that an entity include a warning in its trading policy that a person who possesses inside information about an entity’s securities is generally prohibited from trading in those securities under insider trading laws and that this applies even where the trade occurs within a permitted trading window, or outside a black-out period, specified in the policy.39
My opinion only but based on publicly available law and FACTS.
Kind regards
Fact Finder
