BRN Discussion Ongoing

[manny100]

Board must assess CEO against the achievement of the 5 year board-approved sales/revenue plan. The Board are saying CEO has achieved the current year plan and they think he has the potential to achieve future year’s sales/revenue plans and budgets.

As we don’t know the board approved sales/revenue plan, it’s impossible to rate the CEO. To answer that question, we need to press the Board at the AGM, what percentage of the sales / revenue budget has the CEO achieved - this is the tell!

You need to read the annual report.
This outlines short- and long-term targets generally. It's as boring as hell but worth a read.
The BOD rate the CEO and we rate the BOD (company) via AGM voting.
If you do not like the way the company is being run vote against director reelection.
The anomaly is that despite a fair bit of CEO, BOD criticism and a strike vote concerning renumeration at the 2024 AGM directors up for election were overwhelmingly voted back in. Pia Turcinov got 81.05% FOR and PVM 93.03% FOR.
The 'buck' stops with the BOD and they are supported to the hilt.
For short targets despite success with individual goals, booking targets and Edge Box targets were not achieved. This effected their pay.
2025 goals have been set.

 

[rgupta]

Sean told us in his Second AGM that he had given 5 year plan to BOD. The plan is only known to BOD or Sean. As a holder we have to judge the BOD and Sean based on the promises they made with us. In between there were a lot of opportunities for Sean and BOD to raise money at much higher SP. The biggest opportunity was that short squeeze of Merc and that was the best time for shorts to feast on holders as well.
If the plan was that revenue may not be there for next 5 years then where is the plan to survive the company during those lean years.
As a working CEO and BOD there must be concrete plans to survive the business in bad times. BOD and CEO could had utalised the opportunities during short squeeze to raise easily even 100 million dollars, but they chose only 10 million. Which in other sense is plan either mis interpreted or mis treated and now we are on market sale for almost 2 years without any good news.
If the board approved the plans but did not prepare contingency plans that means the entire board have to go.
Holders are suffering because of very bad financial management of company. The only time they think about holders is during AGM. We were assured about proper updates but still there is nothing.
There is no doubt big businesses do business on their terms but if they same is not working in the right direction we have to find an alternative way.
Right now action of CEO and board are asking more questions than providing any answer to the puzzle.
Dyor

 

[Cardpro]

Who else exactly were you expecting was going to hire and pay this independent consultant?
Were you going to pay for it?

LOL, you may not understand that every person or business that works for any company is hired and paid by the company.
Even the Independant auditors are hired and paid by the company.
No one expects you to believe anything or accept anything BRN - that call belongs to you. It would however be handy if you had done some research prior - it helps.

There is a 5 year plan in place approved by the BOD. The content has not been made public.
No doubt the plan included timelines for ecosystem developments, tech advancements, deals and revenue.
It may be the case that revenue was not forecast until year5?
As far as the Key Management Personnel Remuneration goes it was covered in detail in the 2024 Annual Report from page 14 - page 37. The report was audited and it's a huge read.
It's interesting reading and i recommend that all holders should read it.
As a result of the 2nd strike at the AGM on 21/5/24 the BOD retained an independent consultant to review the compensation plan and provide advice (page 17).
Page 18 plus contain recommendations adopted
The committee intends to ensure executive share ownership progressively to align them with shareholders interests in the long term outcome of the company.
See 2024 Annual report link attached.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02918857-2A1581370&v=7bc42bd11d853ed5e8c28f2ffcd6a069ee5cd6b4

What I meant is, just because they write "independent", it doesn't actually mean they are fully independent, lol

Even after the 2nd strike, they've "retained" them... lol

Somehow, they've managed to score the 52% STI (scoring 27/50 for bookings) goals in 2024. How low are their target when we only had around 200ks in revenues?...

 

[manny100]

What I meant is, just because they write "independent", it doesn't actually mean they are fully independent, lol

Even after the 2nd strike, they've "retained" them... lol

Somehow, they've managed to score the 52% STI (scoring 27/50 for bookings) goals in 2024. How low are their target when we only had around 200ks in revenues?..., again you have not done your research.

Once again you have not done your research. I suggest you read the annual report.
A spill was voted against.
The BOD took on 'board' holders views and hired an independant consultant to review remuneration.
If you are unhappy with that you simply exercise your right and vote against director re election. That is every holders right. No one can take that away from you.
To date directors have had 'landslide' victories which strongly suggests support for the CEO and his team.
You clearly appear have bought a stock that does not suit your investment profile. That again may reflect a lack of research.
It's possible when a booking turns into an engagement that revenue may not flow for between 3 and 6 years.
The good news concerning client validation events since Sept'24 would have been a result of bookings 2 or 3 plus years ago.
It's important to understand the huge time gap between booking and revenue. Revenue in 2024 would not have been a target.
BRN as a business is still in the Early Adoption stage of the tech adoption cycle and will likely remain there for a while yet before it moves to the next stage.
The early adoption stage is where investors take a calculated risk to buy and they are generally considered by their peers and social circle as visionaries.
Bottom line is that it is still a spec stock and it's priced as such.
It's an avoid for those seeking 'sure things'.

 

[Pom down under]

Once again you have not done your research. I suggest you read the annual report.
A spill was voted against.
The BOD took on 'board' holders views and hired an independant consultant to review remuneration.
If you are unhappy with that you simply exercise your right and vote against director re election. That is every holders right. No one can take that away from you.
To date directors have had 'landslide' victories which strongly suggests support for the CEO and his team.
You clearly appear have bought a stock that does not suit your investment profile. That again may reflect a lack of research.
It's possible when a booking turns into an engagement that revenue may not flow for between 3 and 6 years.
The good news concerning client validation events since Sept'24 would have been a result of bookings 2 or 3 plus years ago.
It's important to understand the huge time gap between booking and revenue. Revenue in 2024 would not have been a target.
BRN as a business is still in the Early Adoption stage of the tech adoption cycle and will likely remain there for a while yet before it moves to the next stage.
The early adoption stage is where investors take a calculated risk to buy and they are generally considered by their peers and social circle as visionaries.
Bottom line is that it is still a spec stock and it's priced as such.
It's an avoid for those seeking 'sure things'.

Well after a lot of thought they are getting a yes vote on everything except 1 atm as I truly believe we have turned a corner and money should start flowing into the bank account in the next 12 months, because if it doesn’t we will be back to all this again before the next agm but with a majority of share holders pissed off. So the only thing I won’t be voting for at the agm just yet is a yes or a no vote on Steven until I hear from both sides.

 

[Smoothsailing]

Here’s what the Switch 2’s C button actually does

Now we know… finally!

www.google.com