wilzy123
Founding Member
Did they really want 3mil or was that a token gesture due to the Question at the AGM regarding offering sh some shares at the next raise.
Management
Did they really want 3mil or was that a token gesture due to the Question at the AGM regarding offering sh some shares at the next raise.
Everyone has their own take on it. Someone may be able to push the price down low but doesn't mean there's volume from real people selling.Yes, but the instos got their shares @.193, which from memory was around a 4% discount to the 10 day VWAP,
LDA were getting theirs @ around a 9% discount to market, so why were UCP prepared to underwrite
a $20m CR at such a low discount to market (or vwap).
I own a gold miner BGL which is an already profitable producer with v high grade gold and reserve of 3.2m ozs
(world class deposit and v high grade $$$),BGL had to take a 15% discount to market for a recent raise of $120m,
they had $75m in the bank before CR.
A lot of complaints and speculation here about why do a CR, well for a start it's a much better deal for BRN and for us
because there is much less dilution. Then BRN would definitely be able to get on with their commercialization plans with a solid cash runway, and not have to be concerned with burn rate.
Looks like Sean and maybe Antonio (perhaps others) were working on the CR before the AGM, but why were UCP
prepared to take such a low discount to market, many companies are paying more than cashed up BGL for money, 20% discount is not uncommon at present cash is tight.
Again I ask why would UCP take such a low discount and then put on social media how pleased they were to do
the CR with BRN ???
I'm familiar with synesthesia, from The person refered to as S, who displayed mind boggling feats of memory.
He used to write things down, in an effort to "forget" them.
He suffered from the same debilitating condition..
For most synaesthetes, though, it is just their normal way of experiencing the world, and they may even think the rest of us a bit weird!
Hi Idd,Everyone has their own take on it. Someone may be able to push the price down low but doesn't mean there's volume from real people selling.
I think it was a manipulative but typical move on UCPs part assuming it was them who forced it down so far and then the company agreeing to a raise at a price so low. However, if the company needs cash it is at the mercy of what the market is offering. You could argue they would have been better waiting till the price was 10% higher and then going with LDA, or just agreed with LDA a few months ago to raise this much when it was 50% higher.
UCP then kept the price below the SPP to minimise dilution from people who might be interested otherwise. I agree it was a token by the company, but at the same time it was a way to gauge the actual interest from shareholders. If few people take them up they're going to be hesitant taking this option again in the future.
When the SPP was raised I thought it was because of the risk of recession in the US. It's a pragmatic move IMO but at the same time, if they thought there were deals happening soon they could have waited a little longer and done it at a higher price. To raise this much, to me it's either a safety net for recession, they see a big opportunity and need to move quick, or it's required for a deal. Hopefully it's one of the latter options.
As a side note, I thought there'd be more uptake on the SPP as it allowed people to exceed the ~20% one stock limit on their super.
Suffered from the same debilitating condition?! Erm, not at all!
I think you have a total misconception of what synaesthesia means to the overwhelming majority of people who have it. I don’t perceive it as a negative thing at all, on the contrary - to me, it is a special gift that enhances my life and even helps me to remember things better.
When I was a kid, I used to think everyone saw letters, numbers and words in colour. Until I learnt this was not the case, when I made a comment about the colours of weekdays at the dinner table one day - my parents and siblings just stared at me and had no idea what I was talking about.
When I was 16, I found out what this phenomenon was called by sheer serendipity and got in touch with Simon Baron-Cohen in Cambridge (who happens to be the cousin of the actor famous for playing your avatar’s second half), who was doing research on it at a time when it was hardly on anyone’s radar.
Statistically, there should be quite a few fellow synaesthetes roaming this forum - grapheme-colour synaesthesia is only the most common form - I am sure most of them will have similar stories to tell. We would, however, vastly differ in the colours we see, even though interestingly most people with synaesthesia apparently see A as red.
![]()
VIDEO: What is synaesthesia?
lighthouse.mq.edu.au
“Why do some people, such as pop star Billie Eilish, hear colour, or taste sounds? Professor Anina Rich, from Macquarie’s Department of Cognitive Science, explains.
Synaesthesia is an unusual phenomenon – not a disorder – where an ordinary stimulus, such as a sound, gives an extraordinary experience, such as a colour.
(…)
We still don’t really know why some people have synaesthesia – around 1 per cent of the population have it, and it is more common in females. There is a familial link, in that within families, more people will have synaesthesia than in the general population, but there are also many synaesthetes who don’t know of any others in their family. It doesn’t seem to convey any special talents, other than perhaps a benefit to memory and maybe creativity.
Some people report their synaesthesia helps with things, like “I am really good at maths because the colours help” but others say the opposite, like “I am really bad at maths because you can’t multiply colours!”
From talking to more than 1000 synaesthetes during 20 years of research, there have only been a few for whom the synaesthesia became debilitating for various reasons – one had bidirectional synaesthesia, which is very unusual and tends to be more interfering due to sensory overload. Sounds gave colours, but colours also gave sounds; you can imagine that would be pretty overwhelming.
For most synaesthetes, though, it is just their normal way of experiencing the world, and they may even think the rest of us (non-synaesthetes) a bit weird! I usually describe it as an unusual gift, which gives people’s perception an additional richness. But it is as difficult for a synaesthete to imagine what it is like NOT to have it, as it is for us to imagine what it is like TO have it.
I bought mine a year ago... can't find a number just the stickerHow about AKIDA in "AKIDA blue" down the side next to hope?![]()
Hey Dio,Hi Idd,
I had not considered such devious machinations. Certainly, the SP was manipulated down. The low volume of trade during the period showed that shareholders were not selling, but I can't see how pushing the price down would help UCP.
Yes, it would be good to have a recession buffe, but, in the support document for the SPP, we were told it, together with the capital raise, was to further develop TeNNs and to develop a cloud-based FPGA, which, I presume, would serve as a marketing tool.
A week or so ago, we were discussing an intern, now employed full time, who had developed a system which looked like a precursor for the on-line FPGA, so I think the company is being driven by Sean's "Damn the torpedoes" attitude.
Am sure you can already purchase a "WTF" tshirt somewhere...How about AKIDA in "AKIDA blue" down the side next to hope?![]()
Hi IdD,Hey Dio,
Assuming this is the last capital raise at such a low price, this is the most shares the company will give away if they want to raise the same amount. If investors took up the entire $3M, this is close to 15 million shares (getting close to 1% of the current shares available).
Nevermind that UCP are getting 100 million shares, in the long term it's in their best interest to minimise how much other people hold.
I'd argue that share price is one of the strongest tools available to cause investors to get frustrated and consider selling. When it gets too low, investors presume something is going wrong (even if there isn't) thereby also helping the giants like UCP get more cheap shares.
I think recession risk shouldn't be completely disregarded. If you were going to raise money, it will flow more freely if there is a positive spin. However, just the other day Ford indicated they were dropping a few EV lines and changing their strategy. Many other big companies have been cutting staff and scrapping products recently.
From a sales perspective, the automotive industry has shifted in the past few years partly from lower customer interest in EVs than hoped. Many companies have delayed their EV commitments and a lot are shifting more to hybrids now. The EV market is one of which Brainchip was relying heavily on. Hybrids still have engines so aren't as reliant on minimising every bit of energy as EVs.
It's not to say these companies are no longer interested, they're likely trying to reduce costs for the time being (they all overspent billions on EVs) and may push out their initial plans. New EV models may still include Akida and new features developed for EVs may still get included in other new car lines, but there may be less and it's too soon to say.
That said there are other technologies which will continue to be innovated and improved on to stay ahead of competitors, so integration in products like Lidar and Radar hopefully aren't too far off, as well as other safety focused technologies.
It's also worth pointing out that machine learning technology doesn't guarantee the correct result 100% of the time. There is always going to be some hesitation by customers and regulator scrutiny if the product isn't 100% safe and is harder to verify, but machine learning capabilities are at the point where they are as good as or better than many human experts in most things. People are aware doctors aren't always correct but will generally have a lot of hesitation about using an AI health tool promising 90% accuracy, even if doctors don't achieve greater than 80% for the same task. It will take time but eventually acceptance will occur.
With this in mind, I still find it really interesting that TENNS demonstrated 100% accuracy in an application from one of the company presentations not too long ago (vital signs from memory). Being able to demonstrate this will not only increase customer interest, it will also likely speed up how fast their products can enter the market due to regulations. If TENNS has that sort of accuracy with other applications it should accelerate uptake with those too.
If Shaun is raising money to speed the time to market of TENNs, then this is a wise choice IMO. I still think $20+ million is a lot to raise for software improvements. If you have experienced how good and cheap AI tools are becoming you would understand. Hence my thought about recession (and other opportunities - with Jason on the SAB, SNN supercomputer / servers are definitely on the cards).
I think Shaun pulled the short straw by becoming CEO when he did. The economic conditions were pretty poor when he started and they're not much better now. A strong economy will drive retail interest in products, and hence customer sales. At the very least, from what he's been doing I think Shaun has a solid strategy in place.
I'm still of the view that the Space industry is almost a guaranteed success because as you remind us, there are large radiation benefits digital provide over analog. Given time frames of the space industry, if they are starting to get close to having chips or products ready, I think the consumer market should be even closer. I'm still optimistic that we are really close to success.
Hey Dio,Hi IdD,
That’s quite a lot to get through, so I’ll itemize my thoughts.
A. I would hope that UCP is not involved in the criminal activity of share price manipulation. I’ve heard some CRs include an embargo on lending shares to shorters.
B. ICE v EVs – ADAS/AD will still need all the sensors and 5 kW is 5kW whether it’s petrol or electrons. It could be as much as 5% for an ICE and 6% for an EV. The main difference is in refuelling time.
C. Customer reluctance can be tied to range anxiety, refuelling time and lack of charging points (and petrol heads). The charger network continues to expand and battery tech, such as silicon loaded anodes (see, eg, Talga (ASX: TLG)), will improve charging time and capacity.
D. Certainly recession must always be a consideration. Pulling up the drawbridge makes it a self-fulfilling prediction. If everyone has mass layoffs in preparation for a recession … I suppose it’s just musical chairs … just hope the music never stops.
E. As to the accuracy of AI classification, there are standards set out in the roadmap to AD. Mercedes is at Level 3 using Valeo’s SCALA 2. In the case of an unfamiliar or unrecognized situation, I assume the systems should be programmed to err on the side of caution. As in medical tech, it’s better to over-diagnose than to under-diagnose. It is my opinion that Valeo and Mercedes are using TeNNs software, and I’m reinforced in this belief by Sean’s recent acknowledgement that they have an algorithm product as well as the IP.
F. I think that part of the TeNNs development will be in developing the models, which can be a time-consuming exercise, as the ChatGPT experience shows. Fortuntely we have Edge Impulse to assist.
G. The other thing that Sean did was to kill off the Akida 1 baby chip manufacture and sales. Of course, as he said, the problem at the low end of the market is that “near enuf is good enuf”. Not so for space, ADAS/AD or medical, etc.
I. Space is an ideal marketing flagship – harsh environment, limited power, autonomous action required due to inaccessibility.
All in all, I’m bullish, and I am buoyed by Sean’s confirmation of algorithms as a product.
I completely fail to understand item G?? Why would he do that for?Hi IdD,
That’s quite a lot to get through, so I’ll itemize my thoughts.
A. I would hope that UCP is not involved in the criminal activity of share price manipulation. I’ve heard some CRs include an embargo on lending shares to shorters.
B. ICE v EVs – ADAS/AD will still need all the sensors and 5 kW is 5kW whether it’s petrol or electrons. It could be as much as 5% for an ICE and 6% for an EV. The main difference is in refuelling time.
C. Customer reluctance can be tied to range anxiety, refuelling time and lack of charging points (and petrol heads). The charger network continues to expand and battery tech, such as silicon loaded anodes (see, eg, Talga (ASX: TLG)), will improve charging time and capacity.
D. Certainly recession must always be a consideration. Pulling up the drawbridge makes it a self-fulfilling prediction. If everyone has mass layoffs in preparation for a recession … I suppose it’s just musical chairs … just hope the music never stops.
E. As to the accuracy of AI classification, there are standards set out in the roadmap to AD. Mercedes is at Level 3 using Valeo’s SCALA 2. In the case of an unfamiliar or unrecognized situation, I assume the systems should be programmed to err on the side of caution. As in medical tech, it’s better to over-diagnose than to under-diagnose. It is my opinion that Valeo and Mercedes are using TeNNs software, and I’m reinforced in this belief by Sean’s recent acknowledgement that they have an algorithm product as well as the IP.
F. I think that part of the TeNNs development will be in developing the models, which can be a time-consuming exercise, as the ChatGPT experience shows. Fortuntely we have Edge Impulse to assist.
G. The other thing that Sean did was to kill off the Akida 1 baby chip manufacture and sales. Of course, as he said, the problem at the low end of the market is that “near enuf is good enuf”. Not so for space, ADAS/AD or medical, etc.
I. Space is an ideal marketing flagship – harsh environment, limited power, autonomous action required due to inaccessibility.
All in all, I’m bullish, and I am buoyed by Sean’s confirmation of algorithms as a product.
H: NDAHey Dio,
You raise some really good points,
A: I hope so too, but if there was a friend of a friend who was a 3rd party, who's to say?
B / C: Range anxiety is the real crux of the matter. If someone told you that you could only do 300km in you ICE car between stops, would you care? For a battery car you definitely would. And while there may be better technologies, some aren't available yet, and when they are do you think someone's going to swap out a recharger built with older technology that's been installed in the middle of the desert immediately? Unfortunately these things take time, just like consumers changing their mindsets.
D: That's a good point, and which probably contributes towards the wilder economy swings we see. The flip side is the recoveries are also usually a lot stronger.
E: I certainly hope so. Algorithms are a bit harder to quantify as they won't run as efficiently on other hardware but will still run with the high accuracies you're seeing. I would hope there were licensing agreements of sorts, or what's to stop someone running an algorithm on a different chip that's almost as good?
F: That's a fair point that I overlooked. They will need to train new models as TENNs uses more of an RNN architecture from memory. I still think $20m is still a stretch for this but Shaun didn't really allude to what timeframes he was talking about.
G: That's a bit of a conflicting one to me. If they were in the business of manufacturing chips, they'd need to allocate more staff towards something with higher overheads and smaller gains. This has the risk of higher costs upfront, and hence more capital raises. If they don't sell well, that's millions not being used that would lead to more capital raises. Space is better with rad-hard versions, which means more costs. Then there's storage and logistics, and what you could argue is a distraction from the main focus of the business. Shaun is focusing on the big customers in the hope that one big one will payoff for all the effort invested
H: I had some difficulty understanding this one
I: Fully agree. I'm guessing management were hoping a positive space story would have kept the SP afloat and may have had to change tack when the satellite went quiet. Could be part of the reason for the SPP.
Good Morning Chippers ,
Stolen from the smouldering orifice , Courtesy of Fact Finder.
Hi All
With the addition of Lockheed Martin my personal list of Brainchip engagements moves to 67:
1. FORD
2. VALEO
3. RENESAS
4. NASA
5. TATA Consulting Services
6. MEGACHIPS
7. MOSCHIP
8. SOCIONEXT
9. PROPHESEE
10. VVDN
11. TEKSUN
12. Ai LABS
13. NVISO
14. EMOTION 3D
15. ARM
16. EDGE IMPULSE
17. INTEL
18. GLOBAL FOUNDRIES
19. BLUE RIDGE ENVISIONEERING
20. MERCEDES BENZ
21. ANT 61
22. QUANTUM VENTURA
23. INFORMATION SYSTEM LABORATORIES
24. INTELLISENSE SYSTEMS
25. CVEDIA
26. LORSER INDUSTRIES
27. SiFIVE
28. IPRO SILICONE
29. SALESLINK
30. NUMEM
31. VORAGO
32. NANOSE
33. BIOTOME
34. OCULI
35. CIRCLE8 CLEAN TECHNOLOGIES
36. AVID GROUP
37. TATA ELXSI
38. GMAC INTELLIGENCE
39. EDGX
40. EUROPEAN SPACE AGENCY
41 UNIGEN
42. iniVation
43. SAHOMA CONTROLWARE
44. MAGIK EYE
45. MYWAI
46. INFINEON
47. ERICSSON
48. MICROCHIP
49. ONSEMI
50. IPSOLON RESEARCH
51. UBH - HELLAS
52. ACCENTURE
53. FRONTGRADE GAISLER
54. DELL Technologies
55. BOSTON DYNAMICS
56. AIRBUS
57. NEUROBUS
58. LOCKHEED MARTIN MFC
59. University of Virginia
60. University of Oklahoma
61.’Arizona State University
62. Carnegie Mellon University
63. Rochester Institute of Technology
64. Drexel University
65. Cornell Tech - founded by Cornell University & Technion - Israel Institute of Technology
66. University of Western Australia
67. Penn State University
My opinion only DYOR
Fact Finder
I didn't see this before:
Learning How to Learn: Neuromorphic AI Inference at the Edge
Q&A with Peter Van Der Made, BrainChip Founder and Chief Technology Officer
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Learning How to Learn: Neuromorphic AI Inference at the Edge
Q&A with Peter Van Der Made, BrainChip Founder and Chief Technology Officerwww.wevolver.com
White paper: