DingoBorat
Slim
The Company's intention, as far as I'm aware, is a dual listing with the existing float (I think that's what a dual listing actually is).You won't get much love for this but I 100% agree with you re Nasdaq listing.
We need to be moving towards becoming a profitable company before we bother listing on the Nasdaq.
I say moving towards profitability because that means we still have a need for capital but also our market cap will be significantly higher which will reduce the dilution to existing shareholders.
I don't think some understand, listing on the Nasdaq is a capital raise in and of itself. It means issuing extra shares to US investors and diluting existing shareholders.
If you think listing now will get us out of the doldrums because the US market value tech better you're wrong. If we list now we will be issuing tens of millions of shares at a valuation of $500M.
A $10M listing at our current value would see circa 2% dilution to existing shareholders. How much does the company need? I would imagine they'll go for more than $10m when they go the Nasdaq route. We need to need the funds when we do it or what's the point.
Right now we have what, $25m cash reserves and another $3m to draw down via LDA capital?
We're pretty flush for the time being.
Let's get akd 2.0 in the market, two or three more licensing agreements locked away (preferably high value names such as Nvidia, Tesla, Mercedes so the story sounds better) and some royalties coming in from products in the market.
Once we've ticked those boxes we'll be ready.
Edit: just adding listing costs several million all up including the listing fees and professional advisory fees. If you're dual listed which I suspect brainchip will be to begin with then you're paying listing fees to two separate exchanges. It's an expensive exercise so timing and the need for capital are extremely important.
There is no "need" to issue extra shares.
Some companies do it that way and some don't.
The Company is well aware of the unpopularity of extra dilution to list and there is also no need, as close to 2 billion shares, would provide more than adequate liquidity, for a dual listing.
The Company, is also not in any "rush" to list on the NASDAQ.
They will list when the time is right, when we are full steam ahead.