BRN Discussion Ongoing

[Deleted member 1270]

Here's an excerpt from the ASX continuous disclosure rules.

How do you interpret them?

12. The requirement to give market announcements to ASX first
Generally speaking, under Listing Rule 15.7, an entity must not release information that is required to be given to ASX under Listing Rule 3.1 to anyone else, unless and until it has been given to ASX and the entity has received an acknowledgement from ASX that the information has been released to the market. This includes releasing the information to the media or to analysts, even on an embargoed basis.

The reason for this requirement is to make ASX’s Market Announcements Platform the central collection and dissemination point for market sensitive information. This ensures that such information is quickly and broadly disseminated to all sections of the market, enhancing the efficiency and integrity of that process and helping to reduce of risk of informational inequities and insider trading.
ASX acknowledges that the requirement to give information to ASX first can pose practical difficulties for listed entities that have business operations in countries in different time zones to Australia. ASX encourages any entity in this situation which has advance warning that it may need to make an announcement in another country at a time when the ASX Market Announcements office is not open, to contact its ASX home branch to discuss the arrangements that can be made to facilitate that occurring in a manner that does not undermine the policy behind Listing Rule 15.7.
ASX also recognises that sometimes events will occur outside of the hours of operation of the ASX Market Announcements office, whether in Australia or overseas, which require an immediate public announcement (eg, a major natural disaster affecting the operations of a listed entity where an announcement may be required for health and safety reasons or for the peace of mind of staff and relatives). If a listed entity has a pressing commercial or legal need to make a market sensitive announcement outside of the hours of operation of the ASX Market Announcements office, provided it gives a copy of the announcement to the ASX Market Announcements office at the same time as it makes the announcement, so that it is queued for processing by the ASX Market Announcements office before licensed markets in Australia next open for trading, ASX will generally not take any action against the entity for infringing Listing Rule 15.7.

 

[DingoBorat]

Here's a verbatim print of what Sean stated during the confernce.

Virtual Investor Conference, April 13 2023

at approx. 28 mins 40 seconds.. in the Q&A



"The next one (question)…Why do you release information about the Akida 1500 - that’s the next chip, when there is no appreciable? (unintelligible) amount of sales, basically saying why are we gonna announce another chip when the 1000 hasn’t been ah uh you know not not a lot of revenue…



The 1000 is our first chip.. it um, the reason we, the first chip really is a demonstration chip and a reference chip, that’s why.



We were not leaning into making a lot of money on that. It was just to prove it so it was never intended to be a revenue stream at all, so, you know – we have sold modest amounts but it really really just a demonstration chip, more than anything else.



The 1500 we do anticipate selling some of those because ……"

Like I said, never is a very strong word, I avoid using it if possible.

I won a carton of beer at a place where I worked once..
From a bit of a nemesis, who said I'd "never" best him at something..

My return "gift" was a DVD

That part of his statement was incorrect.

 

[Bravo]

No prize I'm afraid Bravo! You didn't provide a link to the BRN website.

I wasn't asking for a prize @belkin. I was just hoping to get some more information on psychedelics and the like.

 

[dippY22]

Signing in is easy. Don't forget to tick the right boxes!

View attachment 34303

Cannabis and psychedelics as interests, huh? You are one crazy cat, Bravo, ....

 

[Bravo]

Cannabis and psychedelics as interests, huh? You are one crazy cat, Bravo, ....

 

[jtardif999]

Yes and it would be pretty easy for those who bought at 3c to see the share price at 46c. Unlike those who bought at much higher prices.

So why weren’t you a buy in at 3c? Why did you only buy in at much higher prices? Those that bought in at 3c took the much greater risk than you did.

 

[Deleted member 1269]

I am tired of having to search the internet to find out information about BRN and then try and piece it all together. It's just not acceptable.

Why is it so difficult for the company to keep us informed of what is happening? As an example the Virtual Investor Conference....if you are not following this forum or HC, how would you even have known that this conference was happening? I am on the mailing list for BRN, so why were we not advised of the conference before it happened?

And as for Sean saying that "Akida 1000 was never intended to be a revenue stream at all", flies in the face of comments from the last two AGMs and ASX announcements from 13 April 2021 and 9 November 2021.

I will be following this up with BRN and I think they should be making a statement to the market clarifying his comments.. Unbelievable! I feel like I have been misled and lied to.

 

[Dhm]

Can anyone else recall Sean saying words to the effect of ‘the share price is too low by an order of magnitude’ around a year ago? Or perhaps I just imagined it.

 

[DingoBorat]

So you're saying he should have never used the word "never" aren't you?

What if I based my investment decision to buy and then hold the stock since the first comments from the company about AKida 1000 were made?

Or in my case I'm an existing shareholder at that point in time but I maintain my holding because I rightly rely upon what a company representative has stated in open forum!

Comments made by both Peter and Sean to the effect that "we are starting volume production of the chip" or "we expect steady and consistent sales going forward."

To then be told by the current CEO that they never intended Akdia 1000 to be a commercial product!

Wow, talk about opening up the floodgates to potential lawsuits!

Not sure about the lawsuits part..

But it all depends on context.

As far as Sean is concerned, it was "never" a part of the plan, since he came on board.

But yes, he shouldn't have used that word.

Nothing about that, changes my opinion of Sean, or the Company though.

I'm damn sure, I'd like to see things happening quicker, but we are constantly moving in the right direction and it will take time.

 

[Stable Genius]

Sorry you feel that way about me. Not going to attempt to change your mind as we are all entitled to our own opinion.

For clarity here is the Linkedin article i was referring to.

View attachment 34304

@belkin Sorry for the delay in replying, just got off the elliptical.

This is great news!

Sounak Dey is not Brainchip staff, his position is listed as the Senior Scientist, Neuromorphic Computing and Spiking Neural Network, TCS Research.

TCS is not Brainchip.

It was liked by Brainchip staff! And what‘s not to like about it.

I would suggest that TATA is an EAP and are testing, trialing Akida with support from Brainchip staff.

I applaud Brainchip for giving them all the support they can. That’s what we want them to do!

TATA is a massive company and I am quietly confident they will be using Akida in the future for a variety of reasons, medical, transportation, space and robotics to name a few areas.

We all know until there is something significant there will be no ASX announcement otherwise it can be viewed as artificially pumping up the SP, possibly receive the wrath of the ASX and not be favourable for our NASDAQ listing in 2025 (I made that timeframe up).

What ASX announcement is appropriate in the example you have supplied? How much is it worth. What timeframe can we give to when TATA will have products to market?

I don’t know what confidentiality clauses the agreement with the EAP‘s entail. I’m sure some companies would like to keep their testing/trialing of Akida secret. Maybe the fact another company is looking at us is their secret to share when they’re ready?

TATA and the Indian market is massive. I’m very excited for when there is finally something to announce between them.


It fills me with confidence we are on a winner!

 

[Bravo]

I find it really interesting that Rob likes that interview @goodvibes. Take a look at Recogni's 1000 TOPS solution below.


In addition, Recogni has announced the availability of the Phoenix ADAS/AD ECU system, an open-source computing platform for autonomous applications. The Phoenix platform combines Recogni’s Scorpio AI inference processor and the Renesas R-Car V4H SoC for configurations up to 2000 TOPS, the highest TOPS per watt capacity on the market, according to Recogni.

Recogni Announces 1000 TOPS Class Solution for Autonomous Driving​

---

NEWS PROVIDED BY
Recogni Inc.
Dec 13, 2022, 09:03 ET

Microprocessor Report Acknowledges Recogni's Superior High Performance Perception Processing at Very Low Power Consumption Over Competitors
SAN JOSE, Calif., Dec. 13, 2022 /PRNewswire/ -- Recogni, Inc., the leader in AI-based perception for autonomous vehicles, today announced Recogni Scorpio, the world's first 1000 TOPS (Peta-Op) class inference solution for autonomous mobility. The company's vision-inference chip enables superhuman object detection accuracy up to - 300m in real-time under various road and environment conditions, and the ability to process multiple streams of ultra-high resolution and very high frame rate cameras. Microprocessor Report noted that Recogni's solution "performs far better" than other inference engines in leading SoCs on the market.


Recogni Scorpio is the world’s first 1000 TOPS (Peta-Op) class inference solution for autonomous mobility

"Vision is fundamental to accurate perception processing and essential to autonomous driving platforms," said RK Anand, Founder and Chief Product Officer at Recogni. "From the beginning we took a unique approach of processing high resolution images at the edge to achieve near-perfect object detection and classification, and enable autonomous driving stacks to make better driving decisions. Scorpio can process multiple 8 megapixel streams at 30 frames per second in less than 10 milliseconds using only 25 watts. That's a performance order of magnitude greater than anything else on the market and, we believe, will help to accelerate autonomous driving to become a reality."

Currently being evaluated by several top tier automotive manufacturers and suppliers, Recogni's solution can achieve 1000 TOPS with less than 10ms of processing delay and below 25 watts of power consumption. This is not only 10-20 times more power efficient than competing solutions, but it enables the flexible design of autonomous driving vehicle stacks and minimizes the impact on driving range. In addition, with such a short processing time of less than 10ms, the Electronic Control Unit (ECU) has more-than-ample time for taking the necessary driving decisions. High compute capacity, efficient processing, low latency, and low power consumption are the pillars of Recogni's platform.
"Recogni's purpose built architecture is a unique approach to AI perception, allowing customers to perceive the environment in high resolution with very low latency and low power - this is a gamechanger for OEMs and suppliers looking to add new, powerful ADAS and self-driving features to new vehicles," said Marc Bolitho, Chief Executive Officer at Recogni. "Recogni's unique approach in perception processing is truly first of its kind and enables customers to deploy safe autonomous driving functions as well as extending the range for electric vehicles."
Industry Validation
Microprocessor Report's Bryon Moyer completed a thorough evaluation of Recogni's solution and reached the conclusion that, "As the industry moves to greater resolution, Recogni is well positioned, whereas other SoCs will need an upgrade." The report also notes that competing SoCs are likely to be that upgrade, but it's "two to three years behind Recogni's first chip."
The report details Recogni's product superiority in terms of supporting high-resolution cameras at high frame rates, support for red/clear/clear/blue (RCCB) image sensors, the approach of minimizing preprocessing before inference, compression algorithms to reduce the required on-chip memory and the product's self-managing capabilities.
Moyer recognized that "no other stand-alone automotive AI accelerator uses high-resolution cameras and processes each full frame (rather than targeting regions of interest. More common are SoCs that handle inference as one of those many functions." This is one of the biggest differentiators and advantages of the Recogni solution.
To download the full version of the Microprocessor Report, please visit www.linelygroup.com.
About Recogni
Recogni develops AI-based vision perception processing to autonomous driving platforms that achieves high compute and low latency with low power consumption. The company was founded in 2017 with offices in San Jose California and Munich Germany. Lead investors are GreatPoint Ventures, Celesta Capital, Mayfield, DNS Capital, as well as notable automotive OEM and tier 1 suppliers including BMW iVentures, Toyota Ventures, Bosch, Continental, Forvia and FluxUnit-OSRAM Ventures. For more information, visit www.recogni.com

Surely I can't be the only one interested in this?

 

[rgupta]

2) Wrong, two contracts were signed officially so far. That likely would not have happened without a proof of concept. Since I invested from end of may 2020, it was clearly an IP strategy they were following.

that is at least 50% wrong. Renames deal was signed way before akida 1000. Also the company mentioned at that time is volume production of chips, the chips were allocated to the tap partners, 1st batch of chips are made available, and company spend more than 8 million dollars on taping out of akida 1000. And after 2 years company is telling us the same was not for commercial purposes. Which in other sense means that akida 1000 was a failure.
There is no doubt after Sean taken over the company a lot has changed with many more new partners, new penetrations etc but that cannot defend the company that the previous plans does not go as per the plan.

 

[FrederikSchack]

that is at least 50% wrong. Renames deal was signed way before akida 1000. Also the company mentioned at that time is volume production of chips, the chips were allocated to the tap partners, 1st batch of chips are made available, and company spend more than 8 million dollars on taping out of akida 1000. And after 2 years company is telling us the same was not for commercial purposes. Which in other sense means that akida 1000 was a failure.
There is no doubt after Sean taken over the company a lot has changed with many more new partners, new penetrations etc but that cannot defend the company that the previous plans does not go as per the plan.

Wrong. Now obviously you weren't an investor back then. They did their first test tape out in start of June 2020 and I remember that well, because I bought just before tape out. They then spent some months testing the chip, finally getting a contract with Renesas in December 2020.

 

[Townyj]

that is at least 50% wrong. Renames deal was signed way before akida 1000. Also the company mentioned at that time is volume production of chips, the chips were allocated to the tap partners, 1st batch of chips are made available, and company spend more than 8 million dollars on taping out of akida 1000. And after 2 years company is telling us the same was not for commercial purposes. Which in other sense means that akida 1000 was a failure.
There is no doubt after Sean taken over the company a lot has changed with many more new partners, new penetrations etc but that cannot defend the company that the previous plans does not go as per the plan.

Lol how is Akida 1000 a failure when you have the likes of Mercedes Benz using it in the EQXX, Nviso testing it and getting insane fps. Arm/SiFive wanting to be tech partners. Your kidding right..

Please show us where its actually a failure...

It was taped out for partners to test and actually have available over IP.

 

[Bravo]

If our IP will be in a Renesas chip this year, my guess is it COULD BE via Arm® Cortex®-M85 processor in the Renesas R-Car V4H SoC.

Then again, I could be rong ..He-he-he...rong, get it?

 

[Andi85]

that is at least 50% wrong. Renames deal was signed way before akida 1000. Also the company mentioned at that time is volume production of chips, the chips were allocated to the tap partners, 1st batch of chips are made available, and company spend more than 8 million dollars on taping out of akida 1000. And after 2 years company is telling us the same was not for commercial purposes. Which in other sense means that akida 1000 was a failure.
There is no doubt after Sean taken over the company a lot has changed with many more new partners, new penetrations etc but that cannot defend the company that the previous plans does not go as per the plan.

Are we talking about the physical chip or the IP part?

 

[Andi85]

So you're saying he should have never used the word "never" aren't you?

What if I based my investment decision to buy and then hold the stock since the first comments from the company about AKida 1000 were made?

Or in my case I'm an existing shareholder at that point in time but I maintain my holding because I rightly rely upon what a company representative has stated in open forum!

Comments made by both Peter and Sean to the effect that "we are starting volume production of the chip" or "we expect steady and consistent sales going forward."

To then be told by the current CEO that they never intended Akdia 1000 to be a commercial product!

Wow, talk about opening up the floodgates to potential lawsuits!

If they are not for commercial purposes (the IP and not the physical chip) then Resenas and Megachip license agreement back then is for which product?

 

[HopalongPetrovski]

that is at least 50% wrong. Renames deal was signed way before akida 1000. Also the company mentioned at that time is volume production of chips, the chips were allocated to the tap partners, 1st batch of chips are made available, and company spend more than 8 million dollars on taping out of akida 1000. And after 2 years company is telling us the same was not for commercial purposes. Which in other sense means that akida 1000 was a failure.
There is no doubt after Sean taken over the company a lot has changed with many more new partners, new penetrations etc but that cannot defend the company that the previous plans does not go as per the plan.

 

[Townyj]

If they are not for commercial purposes (the IP and not the physical chip) then Resenas and Megachip license agreement back then is for which product?

 

[Boab]

If our IP will be in a Renesas chip this year, my guess is it COULD BE via Arm® Cortex®-M85 processor in the Renesas R-Car V4H SoC.


I could be rong, but I don't tink so IMO.

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He says "this has been developed in partnership with Plumerai"??