BRN Discussion Ongoing
- Thread starter TechGirl
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Potentially false memories coming back to me having read Mr. Dinardo’s presentation just now. I think the sequence of events may have been a paper or a patent by or about Cisco proposing/exploring the use of Ai with their router but not referencing Brainchip and then when the CEO referenced Cisco in the presentation you posted it gained traction.is this it?
"You work with Cisco and they're building a new router"...
"That is a great deal of the innovation and that intellectual property which we need to protect. That's the ability to take regular data, whether it's from a camera, could be internet traffic for cybersecurity, it could be LIDAR, radar,..."
BrainChip Holdings (ASX:BRN) Year End Update 2019 Presentation
10 Jan 2020 - BrainChip Holdings Limited (ASX:BRN) President and CEO, Louis DiNardo gives a year-end update.www.finnewsnetwork.com.au
BrainChip and Cisco Internet of Everything Innovation Centre Sign Agreement to Demonstrate the Capabilities of BrainChip's Spiking Neuron Adaptive Processor (SNAP) Technology
BrainChip and Cisco Internet of Everything Innovation Centre Sign Agreement to Demonstrate the Capabilities of BrainChip's Spiking Neuron Adaptive Processor (SNAP) Technology December 1, 2016brainchipinc.com
The more I have thought on this the more I think the papers or patent involved Cisco working on this with a partner that was primarily in data centres just cannot retrieve a name.
Sorry best I can do at the moment.
My opinion only DYOR
FF
AKIDA BALLISTA
PS: When reading the CEO’s presentation and everything he spoke of which we know now we’re real customer engagements it is no wonder he decided it was a job for a younger CEO he and the rest of the team back then must never have slept. Many thanks Mr. Dinardo.
davidfitz
Regular
I have been hesitant to guess/speculate on the likely sales (to date) as really it is just a guessing game. The use of the word 'mass' production of chips caused a lot of angst amongst holders as to what this actually meant. It was a shame we never got any concrete figures on this!
However, I have to hope that if that number was in the vicinity of 7,000 as previously discussed that this resulted in a similar number of products i.e. Raspberry Pi and later the PCIe Boards. Also there was a mention of production slots being booked for further chips, whatever that really meant is anyone's guess? Did we produce more or were we just waiting for a customer to come on board with an order?? Why book the production slots at all if we were not anticipating a need for them???
So I want to believe that the company would not have hesitated to produce a large number of their products in anticipation of a huge uptake considering they are the first to market in this area. It is then realistic, in my opinion, that the quarterly sales will be much higher than some are thinking.
Of course I base all of this on my assumption on how our company wanted to be perceived by it's likely competitors and the market place in general. A few hundred sales is not what I am expecting, I am hoping to see thousands. The fact that they sold out of the Raspberry Pi indicates a genuine desire for such a product in the market and is encouraging that the demand is there.
If I am right then revenue for this quarter should be up to $5 million but of course you will notice that I use the word 'guess' a lot so I will just wait and see.
However, I have to hope that if that number was in the vicinity of 7,000 as previously discussed that this resulted in a similar number of products i.e. Raspberry Pi and later the PCIe Boards. Also there was a mention of production slots being booked for further chips, whatever that really meant is anyone's guess? Did we produce more or were we just waiting for a customer to come on board with an order?? Why book the production slots at all if we were not anticipating a need for them???
So I want to believe that the company would not have hesitated to produce a large number of their products in anticipation of a huge uptake considering they are the first to market in this area. It is then realistic, in my opinion, that the quarterly sales will be much higher than some are thinking.
Of course I base all of this on my assumption on how our company wanted to be perceived by it's likely competitors and the market place in general. A few hundred sales is not what I am expecting, I am hoping to see thousands. The fact that they sold out of the Raspberry Pi indicates a genuine desire for such a product in the market and is encouraging that the demand is there.
If I am right then revenue for this quarter should be up to $5 million but of course you will notice that I use the word 'guess' a lot so I will just wait and see.
Techinvestor17
Regular
I believe the name was Quantum (data servers) we are still a partner on the website
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I read up on that battery being charged by human sweat which is certainly a much better idea for plugging into with AKIDA intelligent wearables than needing to carry around a potted plant in a pack on your back. Don’t envy the idea of having to go outside and stand in the rain to keep it wet. It’s bad enough having to put my wife’s indoor plants out every time it rains because they love it.
FF
JK200SX
Regular
My estimate of sales for the quarter is between US$5 -US$11Million.
Dozzaman1977
Regular
I hope your estimate is spot on, that would be an awesome amount at this point of time
Dougie54
Regular
100% agree,I am with you,frustrated that the sp gains have disappeared through the worrying lack of news out of our management team.
David holland
Regular
So when is the next quarter due
Fox151
Regular
I don't know what the highest number is, but they're definately one up numbers because I have 196.Sean said the number of mini PCIe cards sold was on the order of hundreds. But that was in answering my question identifying the serial number on mine as 195. Maybe that somewhat co-erred his answer.
I’d love to know thee serial number on other cards.
I have heard mention of 214.
Surely they didn‘t start at 195. But I’d be over the moon if they did.
Dang Son
Regular
My question is , for how long will management leave the retail product shelves empty/sold out?
I vaguely remember that around US$2.5m was paid to TSMC for our last known order.
Divided by say $10/15 should equate to 250,000/166,666 chips having been supplied by TSMC.
But no one could ever know, as there's always a few key point of info missing that keeps SH's guessing and speculating.
Personally, I see no reason why patient shareholders have not been informed, how many chip were purchased and any subsequent reorder.
I vaguely remember that around US$2.5m was paid to TSMC for our last known order.
Divided by say $10/15 should equate to 250,000/166,666 chips having been supplied by TSMC.
But no one could ever know, as there's always a few key point of info missing that keeps SH's guessing and speculating.
Personally, I see no reason why patient shareholders have not been informed, how many chip were purchased and any subsequent reorder.
Justchilln
Regular
I think that payment was to socionext?
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Ok for all those who say that Brainchip has been tardy and not kept shareholders informed I have put together the following. I have not included all of the new positions being advertised as I trust the fact that they have been discussed repeatedly will be sufficient. Also despite the fact that Brainchip has not released enough information to satisfy some it is still too much for just one post:
BrainChip Approved for DTC Eligibility • Company’s stock now able to be traded electronically through the largest securities depository in the world • Benefits include better liquidity and lower transaction costs Sydney – 03 February 2022:
BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF& BCHPY), the world’s first and only commercial producer of neuromorphic artificial intelligence chips, today announced that its ordinary shares have been approved for eligibility by The Depository Trust Company (DTC), making it possible to settle trades electronically in the United States among broker/dealers and the Company’s US transfer agent. DTC is the largest securities depository in the world, holding more than US$35 trillion worth of securities. Being DTC eligible allows BrainChip’s shares to be traded between member firms electronically via its “street name” without buyers and sellers needing to transfer physical certificates to settle trades. This process dramatically reduces costs associated with trading securities while improving the ease of trading and liquidity of the Company’s securities. “We view being DTC eligible to be a tremendous value add for our shareholders as it significantly minimalizes barriers to trade by enabling brokers and dealers to quickly and easily exchange shares through the depository,” said Ken Scarince, BrainChip Chief Financial Officer. “Having additional real-time electronic trading options helps ease the volatility of transactions, enables higher trade volumes and offers lower trading fees. This is the latest in a series of moves we have made to increase the visibility and attractiveness of our stock to various investors around the world.” The Company launched an American Depositary Receipt (ADR) program in November of last year as an instrument aimed at attracting US institutional investors. This allowed the Company to have ADSs (with each ADR representing 40 ordinary shares of BRN) to trade in US dollars on the OTCQX. This process closely followed the Company’s upgrade to the OTCQX Best Market earlier in 2021. Additional information about BrainChip Holdings Ltd. and investor opportunities is available at https://brainchipinc.com/investors/ This announcement is authorised for release by the BRN Board of Directors.
BrainChip appoints Antonio J. Viana as Chairman of the Board Sydney, Australia. – 1 March, 2022 –
BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), the world’s first commercial producer of neuromorphic Al chips and IP, today announced the appointment of Antonio J. Viana as Chairman of the Board of Directors, effective immediately. Mr. Viana, who is currently a BrainChip non-executive director and chair of the Remuneration and Nomination Committee, replaces Emmanuel Hernandez who is retiring and stepping down from the board. Mr. Viana is a seasoned technology executive who has been a major contributor to BrainChip since coming onto the board in June of 2021. Mr. Viana has been instrumental in promoting and implementing new performance planning and measurement processes, as well as being the lead on the recruitment of BrainChip’s current CEO. Prior to coming to BrainChip, Mr. Viana held several senior executive positions at ARM Holdings including President and EVP of Commercial and Global development, Global Director of the ARM Foundry Program, and Executive VP of Worldwide Sales. Mr. Viana is currently a non-executive director of Arteris Inc, a leading provider of network-on-chip (NoC) interconnect and has been on their board since 2016. “Antonio’s extensive knowledge of the semiconductor ecosystem and his demonstrated commitment to our continued growth and success are invaluable assets to BrainChip,” said CEO Sean Hehir. “As Chairman, in addition to supporting and driving shareholder interests, he will continue to help us catalyse our commercial focus and support the executive team to meet our market objectives.” Mr. Hernandez has left the Board effective immediately, as he embarks on retirement after a remarkable career spanning 46 years. Mr. Hernandez has served on the BrainChip board since 2017. A search to add a new non-executive board member to replace Mr. Hernandez is underway. “I am a strong believer and advocate for BrainChip’s neuromorphic approach to AI semiconductor design, and the market opportunity ahead,” said Mr. Viana. “I am honoured to work with this incredible team of professionals and look forward to the continuing journey of building BrainChip into a global technology market leader. On behalf of the board and company, we congratulate Manny on his incredible career, we thank him for his dedication to BrainChip and wish him the best in his future endeavors.” BrainChip deploys AI at the edge in a way that existing technologies cannot. The company’s tech is both high-performance and ultra-low power, enabling a range of capabilities including on-chip, indevice one-shot learning. BrainChip’s IP can be used in a wide range of applications from consumer electronics to industrial IoT to electric vehicles, and smart sensors that can detect and act on visual features, odours, taste, touch, and sound. This announcement is authorised for release by the BRN Board of Directors.
BrainChip Awarded US Patent for Accessing Learned Functions in an Intelligent Target Device • Patent US 11,238,342 “Method and a System for Creating Dynamic Neural Function Libraries” is the 9th foundational patent issued to BrainChip • Latest patent award further cements BrainChip’s technology advantages in the area of neuromorphic artificial intelligence Sydney – 2 February 2022:
BrainChip Holdings Ltd (ASX:BRN, OTCQX: BRCHF, ADR: BCHPY), the world’s first and only commercial producer of neuromorphic artificial intelligence chips, today announced that the US Patents and Trademarks Office has issued a US patent for “Method and a System for Creating Dynamic Neural Function Libraries.” “Patents are a hallmark of a company, symbolizing the innovation and advantages that differentiate its products and solutions from competitors in the marketplace,” said Peter van der Made, BrainChip CTO and founder. “By being granted another patent from the USPTO, we are able to signify to our customers and partners that the technology we have developed is at the forefront of revolutionizing AI at the edge in ways that previous attempts have not been able to achieve. Additionally, this recognition further protects us from others developing similar offerings that would otherwise infringe on our work. We will continue to work towards increasing our patent awards globally as we continue to advance the field of neuromorphic artificial intelligence.” BrainChip’s patent portfolio now comprises 8 US and 1 Chinese granted patent. BrainChip has recently expanded international patent filings with a total of 21 patent applications currently pending in the US, Europe, Canada, Japan, Korea, Australia, Brazil, Mexico and Israel. Key features of Patent US 11,238,342 • The patent claims protect the basic structure and function of a digital neuron consisting of multiple synapse circuits connected to a soma circuit in analogy to a biological neuron where a soma (i.e. neuron) cell receives its inputs via multiple synapses. This patent is a continuation of previous BrainChip patents US 8,250,011 and US 10,410,117, protecting features previously disclosed but not previously claimed. The title of this patent has been inherited from US 10,410,117 but would be better represented by the title of US 8,250,011 “Autonomous Learning Dynamic Artificial Neural Computing Device and Brain Inspired System.” This announcement is authorised for release by the BRN Board of Directors
BrainChip granted new US patent • Patent US 11,227,210 “Event-based Classification of Features in a Reconfigurable and Temporally Coded Convolutional Spiking Neural Network” is the 8th patent issued to BrainChip • Protecting BrainChip’s Intellectual Property remains a strong focus for preserving global competitive advantage Sydney – 19 January 2022:
BrainChip Holdings Ltd (ASX:BRN, OTCQX: BRCHF), the world’s first and only commercial producer of neuromorphic artificial intelligence chips today announced that the US Patents and Trademarks Office has issued a US patent for Eventbased Classification of Features in a Reconfigurable and Temporally Coded Convolutional Spiking Neural Network. BrainChip CTO and founder Peter van der Made said, “This latest patent is one of 8 patents we’ve secured since 2008 to protect our intellectual property rights to ensure we maintain our global competitive advantage in the field of neuromorphic artificial intelligence. As the world’s first and only commercial producer of neuromorphic artificial intelligence chips (Akida1000), we must maintain our lead over our competitors by ensuring our unique and revolutionary technology is protected and secure.” Key features of Patent US 11,227,210 • The patent protects BrainChip’s neuromorphic processor configured to perform convolutions on digital input data that has been converted into spikes. • Further, protection extends to BrainChip’s learning function, implemented at the individual neuron (hardware) level. Convolutional Neural Networks (CNN) are the dominant AI method used to process images. CNN’s consisting of several layers are typically followed by a final classification layer. BrainChip Akida neural processors are configurable as both CNN and fully connected (classification) neurons, thus enabling a wide range of existing AI applications used in industry to be ported to Akida. This announcement is authorised for release by the BRN Board of Directors.
BrainChip Approved for DTC Eligibility • Company’s stock now able to be traded electronically through the largest securities depository in the world • Benefits include better liquidity and lower transaction costs Sydney – 03 February 2022:
BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF& BCHPY), the world’s first and only commercial producer of neuromorphic artificial intelligence chips, today announced that its ordinary shares have been approved for eligibility by The Depository Trust Company (DTC), making it possible to settle trades electronically in the United States among broker/dealers and the Company’s US transfer agent. DTC is the largest securities depository in the world, holding more than US$35 trillion worth of securities. Being DTC eligible allows BrainChip’s shares to be traded between member firms electronically via its “street name” without buyers and sellers needing to transfer physical certificates to settle trades. This process dramatically reduces costs associated with trading securities while improving the ease of trading and liquidity of the Company’s securities. “We view being DTC eligible to be a tremendous value add for our shareholders as it significantly minimalizes barriers to trade by enabling brokers and dealers to quickly and easily exchange shares through the depository,” said Ken Scarince, BrainChip Chief Financial Officer. “Having additional real-time electronic trading options helps ease the volatility of transactions, enables higher trade volumes and offers lower trading fees. This is the latest in a series of moves we have made to increase the visibility and attractiveness of our stock to various investors around the world.” The Company launched an American Depositary Receipt (ADR) program in November of last year as an instrument aimed at attracting US institutional investors. This allowed the Company to have ADSs (with each ADR representing 40 ordinary shares of BRN) to trade in US dollars on the OTCQX. This process closely followed the Company’s upgrade to the OTCQX Best Market earlier in 2021. Additional information about BrainChip Holdings Ltd. and investor opportunities is available at https://brainchipinc.com/investors/ This announcement is authorised for release by the BRN Board of Directors.
BrainChip appoints Antonio J. Viana as Chairman of the Board Sydney, Australia. – 1 March, 2022 –
BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), the world’s first commercial producer of neuromorphic Al chips and IP, today announced the appointment of Antonio J. Viana as Chairman of the Board of Directors, effective immediately. Mr. Viana, who is currently a BrainChip non-executive director and chair of the Remuneration and Nomination Committee, replaces Emmanuel Hernandez who is retiring and stepping down from the board. Mr. Viana is a seasoned technology executive who has been a major contributor to BrainChip since coming onto the board in June of 2021. Mr. Viana has been instrumental in promoting and implementing new performance planning and measurement processes, as well as being the lead on the recruitment of BrainChip’s current CEO. Prior to coming to BrainChip, Mr. Viana held several senior executive positions at ARM Holdings including President and EVP of Commercial and Global development, Global Director of the ARM Foundry Program, and Executive VP of Worldwide Sales. Mr. Viana is currently a non-executive director of Arteris Inc, a leading provider of network-on-chip (NoC) interconnect and has been on their board since 2016. “Antonio’s extensive knowledge of the semiconductor ecosystem and his demonstrated commitment to our continued growth and success are invaluable assets to BrainChip,” said CEO Sean Hehir. “As Chairman, in addition to supporting and driving shareholder interests, he will continue to help us catalyse our commercial focus and support the executive team to meet our market objectives.” Mr. Hernandez has left the Board effective immediately, as he embarks on retirement after a remarkable career spanning 46 years. Mr. Hernandez has served on the BrainChip board since 2017. A search to add a new non-executive board member to replace Mr. Hernandez is underway. “I am a strong believer and advocate for BrainChip’s neuromorphic approach to AI semiconductor design, and the market opportunity ahead,” said Mr. Viana. “I am honoured to work with this incredible team of professionals and look forward to the continuing journey of building BrainChip into a global technology market leader. On behalf of the board and company, we congratulate Manny on his incredible career, we thank him for his dedication to BrainChip and wish him the best in his future endeavors.” BrainChip deploys AI at the edge in a way that existing technologies cannot. The company’s tech is both high-performance and ultra-low power, enabling a range of capabilities including on-chip, indevice one-shot learning. BrainChip’s IP can be used in a wide range of applications from consumer electronics to industrial IoT to electric vehicles, and smart sensors that can detect and act on visual features, odours, taste, touch, and sound. This announcement is authorised for release by the BRN Board of Directors.
BrainChip Awarded US Patent for Accessing Learned Functions in an Intelligent Target Device • Patent US 11,238,342 “Method and a System for Creating Dynamic Neural Function Libraries” is the 9th foundational patent issued to BrainChip • Latest patent award further cements BrainChip’s technology advantages in the area of neuromorphic artificial intelligence Sydney – 2 February 2022:
BrainChip Holdings Ltd (ASX:BRN, OTCQX: BRCHF, ADR: BCHPY), the world’s first and only commercial producer of neuromorphic artificial intelligence chips, today announced that the US Patents and Trademarks Office has issued a US patent for “Method and a System for Creating Dynamic Neural Function Libraries.” “Patents are a hallmark of a company, symbolizing the innovation and advantages that differentiate its products and solutions from competitors in the marketplace,” said Peter van der Made, BrainChip CTO and founder. “By being granted another patent from the USPTO, we are able to signify to our customers and partners that the technology we have developed is at the forefront of revolutionizing AI at the edge in ways that previous attempts have not been able to achieve. Additionally, this recognition further protects us from others developing similar offerings that would otherwise infringe on our work. We will continue to work towards increasing our patent awards globally as we continue to advance the field of neuromorphic artificial intelligence.” BrainChip’s patent portfolio now comprises 8 US and 1 Chinese granted patent. BrainChip has recently expanded international patent filings with a total of 21 patent applications currently pending in the US, Europe, Canada, Japan, Korea, Australia, Brazil, Mexico and Israel. Key features of Patent US 11,238,342 • The patent claims protect the basic structure and function of a digital neuron consisting of multiple synapse circuits connected to a soma circuit in analogy to a biological neuron where a soma (i.e. neuron) cell receives its inputs via multiple synapses. This patent is a continuation of previous BrainChip patents US 8,250,011 and US 10,410,117, protecting features previously disclosed but not previously claimed. The title of this patent has been inherited from US 10,410,117 but would be better represented by the title of US 8,250,011 “Autonomous Learning Dynamic Artificial Neural Computing Device and Brain Inspired System.” This announcement is authorised for release by the BRN Board of Directors
BrainChip granted new US patent • Patent US 11,227,210 “Event-based Classification of Features in a Reconfigurable and Temporally Coded Convolutional Spiking Neural Network” is the 8th patent issued to BrainChip • Protecting BrainChip’s Intellectual Property remains a strong focus for preserving global competitive advantage Sydney – 19 January 2022:
BrainChip Holdings Ltd (ASX:BRN, OTCQX: BRCHF), the world’s first and only commercial producer of neuromorphic artificial intelligence chips today announced that the US Patents and Trademarks Office has issued a US patent for Eventbased Classification of Features in a Reconfigurable and Temporally Coded Convolutional Spiking Neural Network. BrainChip CTO and founder Peter van der Made said, “This latest patent is one of 8 patents we’ve secured since 2008 to protect our intellectual property rights to ensure we maintain our global competitive advantage in the field of neuromorphic artificial intelligence. As the world’s first and only commercial producer of neuromorphic artificial intelligence chips (Akida1000), we must maintain our lead over our competitors by ensuring our unique and revolutionary technology is protected and secure.” Key features of Patent US 11,227,210 • The patent protects BrainChip’s neuromorphic processor configured to perform convolutions on digital input data that has been converted into spikes. • Further, protection extends to BrainChip’s learning function, implemented at the individual neuron (hardware) level. Convolutional Neural Networks (CNN) are the dominant AI method used to process images. CNN’s consisting of several layers are typically followed by a final classification layer. BrainChip Akida neural processors are configurable as both CNN and fully connected (classification) neurons, thus enabling a wide range of existing AI applications used in industry to be ported to Akida. This announcement is authorised for release by the BRN Board of Directors.
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Letter from the Chair BrainChip Holdings Ltd 2021 Annual Report 2
To our valued Shareholders,
Despite multiple global challenges, 2021 has proven to be the most successful year in BrainChip’s history on the strength of the Company’s many technical and market developments as well as an increase in worldwide interest in Artificial Intelligence (“AI”). Most significantly, it was the year that BrainChip evolved from an R&D company into a company that supplies breakthrough edge AI technology to markets like automotive, transportation, aerospace, healthcare, and industrial IoT. To this end, we shipped Akida™ development kits to partners, large enterprises in strategic end markets, and Original Equipment Manufacturers (“OEMs”) to perform their own internal testing, validation, and product development. In 2021, we evolved our operations to become the world’s first commercial producer of neuromorphic AI chips and IP. The Company has achieved meaningful technical advancements in the Akida™ brain-inspired Neuromorphic AI architecture, forged key development partnerships, and has moved into commercial production of chips. BrainChip has generated design improvements to increase performance, efficiency, and scalability, with additional operating modes for even lower power consumption. Our manufacturing partners Socionext America and Taiwan Semiconductor Manufacturing Company (TSMC) shipped our first production chips, and in April 2021 commenced preparing to manufacture at volume. In addition to this progress in silicon, BrainChip licensed the Akida intellectual property to Application Specific Integrated Circuit (ASIC) industry leader MegaChips to incorporate into next-generation AI devices. During 2021, ten new international patent applications were filed and four previously filed patents were granted. Two more received an ‘allowed’ status in the United States and were subsequently granted in early 2022. Over 2022 we expect to increase our patent portfolio significantly. Mr Louis DiNardo stepped down as CEO in March, and Mr Sean Hehir was appointed as CEO in November, allowing interim CEO Peter van der Made to focus his attention on the ongoing technical development of Akida. Mr van der Made deserves our deepest gratitude for stepping up to manage the business while the Company secured the right candidate to guide BrainChip to full commercialisation of the Akida device IP. Mr Hehir’s track record in building strategic relationships with top global technology providers, and his ability to spearhead companies to major revenue stages, makes him an appropriate leader for this phase of BrainChip’s growth. He is supported by two non-executive director appointments, Mr Antonio J. Viana and Ms Pia Turcinov. Mr Viana is a former ARM President and EVP of Commercial and Global development who joined the board as a non-executive director in June 2021. Ms Turcinov joined the Board in January 2022 bringing her extensive governance and commercial experience to BrainChip, with the ambition of providing valuable guidance to the Company in the coming years. While we continue to expand the intellectual property around AkidaTM, the public markets in Australia and the United States have embraced BrainChip. To capitalise on the interest in AI technology in North America and interest from U.S. investors, BrainChip was accepted to trade on the U.S. OTCQX® Best Market in May 2021. In November, the Company entered the Level 1 American Depositary Receipts (ADR) programme, allowing non-U.S. issuers to trade on a U.S. trading platform, increasing access to North American institutional investors and fund managers. In Australia, the Company was added to the S&P/ASX 300 index, reflecting the increasing recognition of BrainChip in the Australian equity market. Above all, we remain committed to our mission of Beneficial AI: Smart Home, Smart City, Smart Healthcare, Smart Transportation, and other strategic real-world implementations of Akida neuromorphic processors that will usher in progress across the many facets of our lives. My thanks for your support of our mission.
Emmanuel Hernandez Chair Directors’ Report BrainChip Holdings Ltd 2021
Annual Report
The directors submit their report of the consolidated entity, being BrainChip Holdings Ltd (“BrainChip Holdings” or “Company” or “BrainChip”) and its controlled entities (“Group” or “Consolidated Entity”), for the year ended 31 December 2021.
DIRECTORS The names and details of the Company’s directors in office during the financial period and until the date of this report are as follows: Emmanuel Hernandez Non-Executive Director and Chair Sean Hehir Executive Director, Chief Executive Officer (appointed 29 November 2021) Peter van der Made Executive Director, Chief Technical Officer. Also Interim Chief Executive Officer (15 March 2021 to 29 November 2021) Geoffrey Carrick Non-Executive Director Antonio J. Viana Non-Executive Director (appointed 28 June 2021) Pia Turcinov Non-Executive Director (appointed 4 January 2022) Louis DiNardo Executive Director, Chief Executive Officer (resigned 15 March 2021) Christa Steele Non-Executive Director (resigned 21 May 2021) The name of the Company’s Secretary in office during the financial period and until the date of this report is as follows: Kim Clark
SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS The COVID-19 outbreak and the response of Governments in dealing with the pandemic continues to affect general activity levels within the community, the economy and our business operations. The scale and duration of these developments remain uncertain as at the date of this report. However, whilst there appears to be minimal impact on our business to date, including consideration of key judgements and estimates used in presenting the financial report, there is a possibility of an impact on our future earnings, cash flow and financial condition. It is not possible to estimate the impact of the near-term and longer effects of Governments’ varying efforts to combat the outbreak and support businesses. This being the case, we do not consider it practicable to provide a quantitative or qualitative estimate of the potential impact of this outbreak on the Group at this time. The financial statements have been prepared based upon conditions existing at 31 December 2021, including those evidenced by events occurring after that date. On 28 July 2021, the Company announced the appointment of HLB Mann Judd (WA) Partnership (“HLB”) as the auditor of BrainChip, effective until the 2022 Annual General Meeting of the Company where a resolution to appoint HLB as the official auditor will be put to shareholders. The change of auditor has occurred due to the Company reviewing its external audit function. The Company was pleased to announce the appointment of Mr Sean Hehir as Executive Director and Chief Executive Officer, effective 29 November 2021, following the resignation of Mr Louis DiNardo in March 2021. The Company is very appreciative of the additional efforts of Mr Peter van der Made, who assumed the role of Chief Executive Officer in the intervening period. During Q4 2021, BrainChip received the first batch of the Akida AKD1000 neuromorphic processor chips from Socionext America, completing functionality and performance testing of the production chips and beginning volume production. This success has allowed the Company to commence taking orders of the Akida development kits from its partners, large enterprises OEMs for their own internal testing and validation. Additionally, BrainChip licensed its Akida IP to major Application Specific Integrated Circuit (ASIC) manufacturer, MegaChips, to help it enhance and grow its technology positioning for next-generation, Edgebased AI solutions. Late in 2021 and early 2022, BrainChip announced that the US Patents and Trademarks Office had granted key patents to the Company bringing the total number of Akida technology related patents issued to the BrainChip since 2008 to a total of eight. The Company remains focused on pursuing and maintaining patent protection on all current and future developments across multiple global jurisdictions to retain our technological edge over the growing number of competitors in the edge AI space. Directors’ Report BrainChip Holdings Ltd 2021 Annual Report
4 SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS (Continued) On 13 October 2021, BrainChip and LDA Capital Limited and LDA Capital LLC (“LDA Capital”) announced The Second Amendment to the Put Option Agreement (“POA”) (refer to ASX announcements dated 13 August 2020 and 26 October 2020) allowing the deferral of the remaining A$5.3M draw-down obligation (“First Minimum Draw Down Amount”) until 28 February 2022, previously due 22 October 2021, while increasing the total LDA commitment under the agreement to A$65M. The Company’s minimum draw-down obligation was also increased by A$30M. Refer to Significant Events After Balance Sheet for further comments. On 3 November 2021, BrainChip announced the launch of its American Depository Receipts (ADR) program. An ADR is a US trading instrument denominated in USD that allows a non-US issuer of securities to trade on a US trading system or exchange. The new ADR, ticker symbol BCHPY, represents forty (40) ASX: BRN shares. As ADRs are issued, BRN shares are accumulated in an ASX-traded custodial account. The intent of this programme is to provide access to US institutional investors who are unable to invest in foreign-listed shares (ASX: BRN), US-listed foreign shares (OTCQX: BRCHF) or in shares below a certain price point. The ADRs are listed on the OTCQX and commenced trading on 4 November 2021. The Company intends to continue exploring opportunities to better access global equity markets. There have been no other significant changes in the state of affairs of the Group.
PRINCIPAL ACTIVITIES The principal activity of the Group is the development of software and hardware accelerated solutions for advanced artificial intelligence (“AI”) and machine learning applications with a primary focus on the development of its Akida Neuromorphic Processor to provide a complete ultra-low power and fast AI Edge Network for vision, audio, olfactory and smart transducer applications. EMPLOYEES The Group employed 63 employees as of 31 December 2021 (2020: 42). DIVIDENDS No dividends have been paid or declared by the Company during the financial year or up to the date of this report.
REVIEW OF OPERATIONS The financial results of the Group are presented in US dollars, unless otherwise referenced. Although the pandemic remains an ongoing global challenge, there has been minimal impact on our business other than certain restrictions when meeting and engaging with our customers face-to-face, and the supply of certain core components used in the construction of development kits. Overview The Group made a net loss after income tax for the year ended 31 December 2021 of $20,981,309 (2020: $26,822,049). The current year loss included non-cash losses of $1,375,950 resulting from the fair valuation of the LDA financial liabilities (derivatives) recognised due to the agreed pricing mechanism and the put option premium. Revenues for the year ended 31 December 2021 of $1,588,483 increased 1,215% from $120,829 in 2020. The Company executed a license contract in December 2021 as well as multiple Early Access Programme (“EAP”) product sales and engineering support services agreements during the year. (This is MegaChips)
January 24th, 2022
Mercedes Applies Neuromorphic Computing in EV Concept Car
Mercedes Applies Neuromorphic Computing in EV Concept Car via Sally Ward-Foxton The Mercedes Vision EQXX concept car, promoted as “the most efficient Mercedes-Benz ever built,” incorporates neuromorphic computing to help reduce power consumption and extend vehicle range. To that end, BrainChip’s Akida neuromorphic chip enables in-cabin keyword spotting as a more
BRAINCHIP CONTINUES EXPANSION WITH SALES PARTNERSHIPS IN NEW GEOGRAPHIC MARKETS
via Business Wire
LAGUNA HILLS, Calif.–(BUSINESS WIRE)–BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), the world’s first commercial producer of ultra-low power neuromorphic AI chips and IP, today announced new sales partnerships in Europe and Israel that will further expand the commercial reach of its Akida™ neuromorphic computing platforms
The company has partnered with Eastronics, a large, high-tech distributor in Israel, and SalesLink, a European technology solutions provider, to optimize local market sales throughout the EMEA. These relationships serve as a gateway for introducing Akida technology to customers looking to leverage BrainChip’s IP across a wide range of applications – from industrial IoT, cybersecurity, and autonomous vehicles to smart sensors that can detect and act on visual features, sound, touch, smell, and taste.
Eastronics employs a large group of highly experienced sales and professional application engineers from diverse backgrounds and disciplines, supporting demand creation / design-in activities from the early stage of a project’s definition until production. Eastronics is ideally suited to benefit BrainChip’s global expansion in terms of customer presence and broad reach, from vertical such as medical, military, and industrial IoT markets, in the Israeli territory… READ THE FULL ARTICLE
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JEROME NADEL JOINS BRAINCHIP AS CHIEF MARKETING OFFICER
Laguna Hills, Calif. – January 25, 2022 – BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), a leading provider of ultra-low power high performance artificial intelligence technology and the world’s first commercial producer of neuromorphic AI chips and IP, today announced that semiconductor marketing expert Jerome Nadel has joined the company as Chief Marketing Officer. Nadel will drive corporate and product marketing to support the full commercialization of its Akida™ neuromorphic computing platforms.
Nadel, an internationally experienced executive in scaling and growth-stage companies, joins BrainChip from Rambus, a publicly traded semiconductor technology company. During his eight years at Rambus, he served as Senior Vice President, CMO, and General Manager of its fintech software division. He has also held senior positions at Sagem, Thales (formerly Gemalto), Option NV, Human Factors International, Unisys, and IBM.
He is also a board member of the Silicon Valley Executive Network, alongside BrainChip CEO Sean Hehir, as well as President of the Silicon Valley chapter of the CMO Club, a global community of senior marketing executives. He received a BS in Psychology from the University of South Florida and an MS in Industrial/Organizational Psychology from Kansas State University, where he was a doctoral candidate.
“BrainChip advancements in neuromorphic AI are truly transformative and will be the computational foundation of smart sensing in all edge devices,” said Nadel. “Our ground-breaking IP is commercially ready and relevant, and it’s exciting to see it being adopted and deployed by industry leaders. I’m excited to play a part in accelerating the company’s trajectory.”
“We’re eager to hand Jerome the reins of BrainChip’s corporate and product marketing, and proud to have him on the executive team,” said Hehir. “This is a pivotal moment for BrainChip as we steer the company from R&D breakthroughs to a focus on commercialization, strategic partnerships, and profitability.”
BrainChip deploys AI at the edge in a way that existing technologies cannot. The company’s tech is both high-performance and ultra-low power, enabling a range of capabilities including on-chip, in-device one-shot learning. BrainChip’s IP can be used in a wide range of applications from industrial IoT, cybersecurity, and autonomous vehicles to smart sensors that can detect and act on visual features, odors, taste, touch, and sound
BRAINCHIP ACHIEVES FULL COMMERCIALIZATION OF ITS AKD1000 AIOT CHIP WITH AVAILABILITY OF MINI PCIE BOARDS IN HIGH VOLUME
Company welcomes enterprises to the Edge with AIoT PCIe board and board design layout
Laguna Hills , Calif. – January 17, 2022 – BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), a leading provider of ultra-low power high performance artificial intelligence technology and the world’s first commercial producer of neuromorphic AI chips and IP, today announced that it has begun taking orders for the first commercially available Mini PCIe board leveraging its Akida™ advanced neural networking processor, rounding out its suite of AKD1000 offerings.
The AKD1000-powered Mini PCIe boards can be plugged into a developer’s existing system to unlock capabilities for a wide array of edge AI applications, including Smart City, Smart Health, Smart Home and Smart Transportation. BrainChip will also offer the full PCIe design layout files and the bill of materials (BOM) to system integrators and developers to enable them to build their own boards and implement AKD1000 chips in volume as a stand-alone embedded accelerator or as a co-processor.
The new boards help usher in a new era of AI at the edge due to their performance, security, low power requirements, and the ability to perform AI training and learning on the device itself, without dependency on the cloud. The production-ready chips provide high-speed neuromorphic processing of sensor data at a low cost, high speed and very low power consumption. The PCIe boards are immediately available for pre-order on the BrainChip website. Pricing starts at $499.
“I am excited that people will finally be able to enjoy a world where AI meets the Internet of Things,” said Sean Hehir, BrainChip CEO. “We have been working on developing our Akida technology for more than a decade and with the full commercial availability of our AKD1000, we are ready to fully execute on our vision. Other technologies are simply not capable of the autonomous, incremental learning at ultra-low power consumption that BrainChip’s solutions can provide. Getting these chips into as many hands as possible is how the next generation of AI becomes reality.”
The launch of BrainChip’s new PCIe board closely follows the company’s development kit offerings introduced in October. The two development kits – an x86 Shuttle PC development kit, as well as an ARM-based Raspberry Pi development kit – both include the AKD1000 chip on a Mini PCIe board and are available to partners, large enterprises and OEMs. BrainChip’s AKD1000 chips and PCIe board can be purchased at shop.brainchipinc.com or via the Buy Now button at www.brainchip.com/.
INFORMATION SYSTEMS LABS JOINS BRAINCHIP EARLY ACCESS PROGRAM
Laguna Hills, Calif. – January 9, 2022 – BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), a leading provider of ultra-low power, high performance artificial intelligence technology and the world’s first commercial producer of neuromorphic AI chips and IP, today announced that Information Systems Laboratories, Inc. (ISL) is developing an AI-based radar research solution for the Air Force Research Laboratory (AFRL) based on its Akida™ neural networking processor.
ISL is an employee-owned technology development corporation that performs expert research and complex analysis, software and systems engineering, advanced hardware design and development, and high-quality specialty fabrication for a variety of customers worldwide.
ISL specializes in the areas of advanced signal processing, space exploration, undersea technologies, surveillance and tracking, cyber security, advanced radar systems, and energy independence. As a member of BrainChip’s Early Access Program, ISL will be able to evaluate boards with the Akida device, software and hardware support and dedicated engineering resources.
“As part of BrainChip’s EAP, we’ve had the opportunity to evaluate firsthand the capabilities that Akida provides to the AI ecosystem,” said Jamie Bergin, Senior VP, Manager of Research, Development and Engineering Solutions Division at ISL.
BrainChip brings AI to the edge in a way that existing technologies are not capable. The Akida processor is ultra-low power with high performance, supporting the growth of edge AI technology by using a neuromorphic architecture, a type of artificial intelligence that is inspired by the biology of the human brain. Devices currently available to BrainChip’s EAP customers provide partners with capabilities to realize significant gains in power consumption, design flexibility and true learning at the Edge.
“ISL has decided to use Akida and Edge-based learning as a tool to incorporate into their portfolio of research engineering and engineering solutions in large part due to our innovative capabilities and production-ready status that provides go-to-market advantages,” said Sean Hehir, BrainChip CEO. “We are pleased to be included as the AI- and Edge-based learning component of ISL’s research sponsored by AFRL. We feel that the combination of technologies will help expedite its deployment into the field.”
Akida is currently available now to be licensed as IP, as well as available for orders for production release in silicon. Its focus is on low power and high-performance, enabling sensory processing, for applications in Beneficial AI, as well as applications including Smart Healthcare, Smart Cities, Smart Transportation and Smart Home. Those interested in learning how BrainChip has solved the problems inherent in moving AI out of the data center to the Edge where data is created, can visit https://brainchipinc.com/technology/ for more information.
Dang Son
Regular
True it possibly may have been paid to Socionext, but I believe it was for supply of chips .
What sort of commision would Socio take for lining up a production slot at TSMC?
I'm suggesting that our initial substantial chip order fulfillment should have been in vicinity of 250k units
I watched a fairly recent video of a panel discussing Driver Monitoring Systems. An engineer from Mercedes went to pains lengths not to disclose anything new that Mercedes were currently working on. It was a surprise earlier this year when they came out and said they were collaborating with BrainChip but I guess that given the nature of the CES 2022, they must have felt it advantageous to mention the use of ground breaking technology, power saving technology, in the form of Akida. Looks like they are back to being secretive. I understand people’s frustration. But we are close enough to the AGM to get some answers soon. I believe 2022 will be a great year for the company. Tend to think the last quarter will be the most satisfying.
Bravo
If ARM was an arm, BRN would be its biceps💪!
If Musk buys Twitter, will it be better or shitter?
www.pcworld.idg.com.au
Is Elon Musk about to buy Twitter or create his own platform? - PC World Australia
Elon Musk has sparked conversation about free speech and social media, hinting he may want to buy, or create a more objective platform.
Justchilln
Regular
I think it was also for the physical design work socionext did as well as the first production run. Socionext played a major part in designing our chip.
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