BRN Discussion Ongoing
- Thread starter TechGirl
- Start date
I don't think the redomicile will be on the cards for a while (if it even happens).
Even Brainchip know that there is no chance in hell that shareholders are going to vote for redomicile, unless there is a significant increase in share price (plus many other factors still to be addressed).
Of course all purely speculation at this stage, since we've been given no details on possible exchange however let's say it is the Nasdaq and base it on today's share price of 25 cents AUD. The minimum price required to list on Nasdaq is $4 USD ($6.27 AUD), so this would mean a consolidation of 25:1.
Why anyone would vote for that is beyond me.
However importantly, a redomicle MUST be approved by shareholders.
There are two shareholder votes required:
Headcount Test - a simple majority (50% plus one) of the registered shareholders,
then
Voted Shares Test - 75% of the votes cast on the resolution (this means 75% of the shares voting on the resolution).
I honestly feel like it was put out there to distract shareholders from important items relating to the AGM (like not approving the remuneration report).
As for the 4C saying, they put the idea out there to gauge shareholder reaction is nonsense. If they really wanted to know how shareholders felt, why would they not call their top 20 shareholders to see what they thought, rather than drop a price sensitive announcement that caused the share price to drop from 30c to low 20s....
Even Brainchip know that there is no chance in hell that shareholders are going to vote for redomicile, unless there is a significant increase in share price (plus many other factors still to be addressed).
Of course all purely speculation at this stage, since we've been given no details on possible exchange however let's say it is the Nasdaq and base it on today's share price of 25 cents AUD. The minimum price required to list on Nasdaq is $4 USD ($6.27 AUD), so this would mean a consolidation of 25:1.
Why anyone would vote for that is beyond me.
However importantly, a redomicle MUST be approved by shareholders.
There are two shareholder votes required:
Headcount Test - a simple majority (50% plus one) of the registered shareholders,
then
Voted Shares Test - 75% of the votes cast on the resolution (this means 75% of the shares voting on the resolution).
I honestly feel like it was put out there to distract shareholders from important items relating to the AGM (like not approving the remuneration report).
As for the 4C saying, they put the idea out there to gauge shareholder reaction is nonsense. If they really wanted to know how shareholders felt, why would they not call their top 20 shareholders to see what they thought, rather than drop a price sensitive announcement that caused the share price to drop from 30c to low 20s....
MDhere
Top 20
Maybe best case scenario is a u.s. buyer is lurking in the background, offers the Company 15 billion of dollars (made up figure of course) and they say, right now Brainchip you need to buy back all the australian shares at ($6.27 AUD, the price that you quoted @jrp173 ) and then float it all on the u.s. market under our subsidiary name.
That's all the Australian shareholders have been bought out at the u.s. float price, done and dusted.
Well to me this would be a win win for us shareholders and a win win for the company to move smoothly to u.s.
Then we can all buy the u.s. shares as we wish.
Well I am hoping that my theory is actually reality. And I'm not dreaming, I'm wide awake at work number crunching lol
Frangipani
Top 20
On 1 December 2024, both @Humble Genius and @Kamikaze kai shared the following LinkedIn post by Sounak Dey from TCS Research with us:
www.linkedin.com
Yesterday, the work he referred to, which was presented at ICPR 2024 in Kolkata (1 - 5 December 2024) by Sounak Dey’s and Chetan Kadway’s co-author Ajoy Dey, was published online (the text beyond the abstract is, however, behind a paywall):
link.springer.com
#icpr | Sounak Dey
Sometimes back, our work focus was on the use case of "In-car Driver Drowsiness Detection". We did the usual tasks of designing a Spiking Neural Network (SNN) and then deploying it on BrainChip Akida 1000 neuromorphic board. The model has achieved upto 92% accuracy on four classes. Energy...
Yesterday, the work he referred to, which was presented at ICPR 2024 in Kolkata (1 - 5 December 2024) by Sounak Dey’s and Chetan Kadway’s co-author Ajoy Dey, was published online (the text beyond the abstract is, however, behind a paywall):
Towards On-Device Learning and Personalization: A Case of In-Car Driver Drowsiness Detection System Using Neuromorphic Computing
Car accidents due to driver drowsiness is a very serious pan-world problem. At present there are few AI-based drowsiness detection and alert systems, but they are not suitable for cars due to their requirement of large memory, power, and latency and...
Pom down under
Top 20
Hey
I did get a response from Lou below and I’ve also asked him his thoughts on moving to the US with the SP at its current price and why the board would not want Steven Liebeskind elected as a director. Not expecting a response, but you never know.
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Pom down under
Top 20
I have received a response from Lou regarding my 2 questions, but I’m requesting permission to post them here and he responded with
With caveat that included.
What’s that mean lol
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I am in a similar boat except my buy price is .49c (still up the creek without a paddle) if this redomicile eventuates. I can’t see any positives in our current financial position anyway ? My plan is to set up a SMSF and transfer them into that, this way I shouldn’t be forced to sell at a loss and because they are currently under water there should be no CGT payable just a transfer fee I assume ? Have you considered this option, thoughts ?I do, (hold BRN in my retail super) and paid 62 cents each for them, at the time.
I also hold many more outside of super for which I now feel grateful.
It will be a blow to me if I have to sell them at anything less than purchase price because of a redomicile, but at the moment, that is the situation with my particular fund.
Other funds will have varying arrangements, but this is my situation.
Not looking for violins or sympathy, just stating a part of the way my reality will be affected.
And think many other's will likely be in the same boat.
This is just a side show to the main event, but I hope that the BOD are aware of these implications for some of us holder's and will factor us into their decision making.
I can’t see management batting an eye lid over loss of retail holder wealth unfortunately. The consolidation required, at this point, to even consider a move to the US you would have to think would destroy retail holders wealth. It would be a necessity to even make it possible to list on a US exchange. This one fact alone gives you an insight into the mindset of some of our current BOD
Like others have mentioned I think this Redomicile talk is a distraction tactic to shift focus from our obvious lack of commercial traction, so the freebies are approved and the hard questions are side stepped.
I’m all for a move to the US but in our current state we would first be diluted to oblivion and then because of our lack of revenue and huge operationslal spend crushed by aggressive shorting.
My opinion only…
Krustor
Regular
This means: Dont give T&J any more attention.
My first post after reading only for a long while. Cant believe this Lou trash is still a topic...
Where in any statement above did I even mention commercialisation commenced six years ago, never even mentioned commercialisation. Seems someone has his own agenda another fluffier who does,nt want to face reality,oh my! Manny gues your another brainchip worker hiding here making misleading statements in defence of your boss.
TheUnfairAdvantage
Regular
Doing the same - Retail self manage to personal SMSF. However, you may discover that you can’t transfer because the trustee owns shares on your behalf. You simply have an interest in the shares. You will be required to place a sell order on your retail holding. Take a loss and for go the loss (as in you can’t carry it over to your SMSF). Roll your retail self managed into your personal SMSF then buy the shares at the lower cost base. Negative is- lower cost base could equate to more tax on any gain and no loss to offset. Positive is - you have skin back in the game and total control including ability to vote.
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Oh really, I hadn’t fully explored the technicalities as yet to be honest. So either way we have to solidify the actual loss and no share transfer is possible, that’s a proper kick in the guts if it eventuates…
TheUnfairAdvantage
Regular
Yep. Not happy. Should have done personal SMSF years ago. Could have done some trades without the 20% limitation. That limitation really held me back over the years.
The other negative of this process or positive, depends how the dice rolls. Going to be out of the market for a week or so whilst the sell, rollover and buy back occurs. Hoping like crazy the price drops after the sell. Worse case we get an announcement and the price rockets whilst I’m out. That scares me.
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