BRN Discussion Ongoing

[HopalongPetrovski]

IR Briefs are briefs that are invisible to the naked eye, "naked" being the operative word.

Was gonna reply with the "sex, sex, sex, that's all they think about" Life of Brian scene, but couldn't find it, so you get this instead.
Somehow reminds me of my imagined you.

 

[Diogenese]

At the risk of being attacked, I do agree with some of your points, but trying to focus on the positive elements of our company
has helped me maintain some sort of balance, we have made progress and I do believe 100% that we are structured way better
than we have ever been, it appears we all got in 10 years too early, Peters original creation with Anil has proven to be years in front,
and I do have two criticisms, one when Sean made comments about AKIDA 1000 then on reflection modified them somewhat and
staff getting any sort of bonus or reward (incentive) to perform or achieve certain goals, when the shareholder base clearly see
currently no revenue streams forming, when the funds appear in the company's bank account, then share the spoils with key staff
who made it happen.

I do however realize that things are way more complex than my open thoughts above.

Tech.

Hi Tech,

I don't begrudge the engineers and programmers one cent of their bonuses. In my opinion, the technical advances with each iteration of Akida has more than tripled the potential market of the company.

Sales and marketing have had an extremely difficult task, selling an entirely new tech to an uncomprehending market with years of forward commitments.

As I may have mentioned before, I believe that cybersecurity on its own will make us profitable. This is now a COTS product, the market need for which has exponential growth as hackers are empowered by AI.

Then there is the astonishing advance of see-in-the-dark radar which grew out of the RTX microDoppler SBIR for USAFRL, radar which can not only identify objects but do so in fine detail. Of course, a lot of that advance does depend on the radar transceiver's capabilities, and on the models, but it would not be possible without the negligible latency of Akida enabling real time responses.

 

[Stable Genius]

حين يلتقي الابتكار بالرؤية ‏✨ في ملتقى معًا نتقدّم حيث يرعى صاحب السمو السيد ذي يزن بن هيثم آل سعيد – نائب رئيس الوزراء للشؤون الاقتصادية – افتتاح أعمال مُلتقى “معًا نتقدّم” في نسخته الرابعة، شرّفنا… | Onsor

حين يلتقي الابتكار بالرؤية ‏✨ في ملتقى معًا نتقدّم حيث يرعى صاحب السمو السيد ذي يزن بن هيثم آل سعيد – نائب رئيس الوزراء للشؤون الاقتصادية – افتتاح أعمال مُلتقى “معًا نتقدّم” في نسخته الرابعة، شرّفنا سموه بالاطلاع على تقنية NEXA. ابتكارٌ عُماني يستخدم الذكاء الاصطناعي والحوسبة العصبية للتنبؤ...

www.linkedin.com

When Innovation Meets Vision

At the Together We Progress Forum, where His Highness Sayyid Dhi Yazan bin Haitham Al Said, Deputy Prime Minister for Economic Affairs, sponsored the opening of the fourth edition of the Together We Progress Forum, and we were honored to learn about NEXA technology.

An Omani innovation uses artificial intelligence and neural computing to predict seizures an hour before they occur, giving patients the opportunity to prepare and protect themselves.

We are proud to be part of Oman's development journey that puts people at the heart of technological innovation.

Getting closer to revenue!

 

[Pom down under]

I'll try it this way.

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Trying to justify there existence or is that non existence

 

[Dr E Brown]

Just to clarify I may have messed up with Pre Act who I think are using TENNS with Akida 2 as a hybrid solution. Happy to be corrected.

Also just reviewing revenue:
2023 - USD 232K - taken from 2024 AR
2024 - USD 398K - as above
2025 - USD 2.24M (based on quarterly figures)
These are CY an US FY figures.

And expenditure:
2023 - USD 28.8m - taken from the 2024 AR
2024 - USD 23.8m - as above
2025 - USD 18.8m (based on quarterly figures)

We have also a technology roadmap, we have grown the ecosystem, we have moved into volume production for 2026. Sometimes it's good to look back.
It's a pain in the arse that the speed of uptake and closing of deals has taken longer than expected, but this was clearly accepted and addressed by management, but we had definitely got purchase agreements with Parsons, Onsor and Nex Novus. Total value unknown, but given the relatively low numbers initially announced the cost to the customer will be higher than if when?! they take a higher volume of chips.

But smoothsailing I completely agree a deal with a consumer customer or perhaps Renesas or Megachips announcing a chip with AKD1000 for mass market take up is the one we and I think the market is waiting for and I am anticipating.

My personal take - Sean has done a good job and positioned the company well, transitioning it well (if a little slowly).

As always my opinion and research only!

 

[jrp173]

At the risk of being attacked, I do agree with some of your points, but trying to focus on the positive elements of our company
has helped me maintain some sort of balance, we have made progress and I do believe 100% that we are structured way better
than we have ever been, it appears we all got in 10 years too early, Peters original creation with Anil has proven to be years in front,
and I do have two criticisms, one when Sean made comments about AKIDA 1000 then on reflection modified them somewhat and
staff getting any sort of bonus or reward (incentive) to perform or achieve certain goals, when the shareholder base clearly see
currently no revenue streams forming, when the funds appear in the company's bank account, then share the spoils with key staff
who made it happen.

I do however realize that things are way more complex than my open thoughts above.

Tech.

Hi Tech, thank you for the thoughtful reply.

I know we have had some testy exchanges over the years, but I actually believe that you and I want the same thing. We want BrainChip to be successful and we all want to make money, it's why we invested in BrainChip.

No attack from me, but I find it hard to maintain positivity, because I don't want to have to "believe", I don't want to have to try and find my own information and piece it together, or rely on posts I see on Linked In, x etc. I want to see information issued directly from BrainChip, because then I know it's factual (and via the ASX, as price sensitive or non price sensitive). I just want the company to keep us informed, the good and the bad, at least then we can all make informed decisions about our investment.

Like my post said, we have no idea how Sean is tracking, or how they tracking with the roadmap.... why is there no transparency.? As owners of the company don't we deserve to know this?

And you and I definitely have agreement on remuneration, but I believe we have serious issues at Board level. It appears that no-one (in particular our Chairman) is holding Sean to account. How can Sean deliver no "signficiant' results year in year out, but he is still rewarded at a ridiculous levels? I couldn't care if Sean was paid $10M a year if we were all sharing in the company's success. But how can they seriously justify paying 50% of his bonus, even if he achieves nothing?? It's so insulting to shareholders.

How do we pay 280K - 380K AUD to non exec directors who work just a few days a month, again, all whilst shareholders are seeing their investments decimated. How do we issue SR (service rights) to directors just for being employed with no link to achievement. Just issued because they have worked for BRN for more than 12 months? Our Non execs last year were issued 697,674 Service Right at approximately $118,000 USD, on top of their $60 - 80K USD annual salaries. I'd love to get an extra $118K USD just for doing my job (even if don't do it very well).
NOTE: from the last AGM, I believe the non execs were issued the SR's however in their kind hearted nature (that was a joke), they elected not to exercise these rights due to shareholders concerns. Of course, it would be easy to check this if there was actually a record of last years AGM.

Why is no-one on the board acknowledging that shareholders are unhappy. The three subsequent strikes prove this, as it's the only way shareholders can make a point and express their dissatisfaction because the company will not engage in any real way with shareholders

The board are a huge issue for me, and I think we need a shake up. I know a spill would never happen, but if BRN want to show shareholders they are listening, there has to be some change at board level in my opinion.

Having been invested for 10 years, I can only judge BrainChip by their past and now current behaviour. We have been promised results time and time again, but it has not come to light. Every year at the AGM the same lines are rolled out, it's taking longer than we thought, we are not happy with how things are going, we are in the best position we have ever been in etc. Until they show shareholders different behaviour, I think it's safe to assume that things will remain the same.

Tech, I wish us all luck, and I truly hope things change this year. We all deserve it!

 

[Dr E Brown]

Last one for a while, but I take heart from the fact that the last CR, was fully underwritten with institutional and sophisticated investors for AUD35m and oversubscribed and the SPP was oversubscribed to generate more than the AUD2m wanted. Somebody likes our plans and our products.
We have 61 patents approved or pending globally. Gives the company great protection.
Honestly, the company looks in good shape.

 

[Fullmoonfever]

More excuses from BrainChip and they seriously think this will shut shareholders up..

Just more fluff, and smoke and mirrors.

Can anyone show me any announcement via the ASX where BrainChip have engaged in ramping?? I personally can't recall one. BrainChip supposedly "got in trouble with the ASX"... when? 2019 when Lou was around? I'd like to see what announcement they made that was ramping and did they retract or re-issue that announcement? Yeh don't think so....

This is totally bollocks, and a pathetic attempt to keep us quiet!

All they have to do is engage from with the market and actually be cheerleaders for their own technology.

Ridiculous.

 

[Jacob Kiraz]

Last one for a while, but I take heart from the fact that the last CR, was fully underwritten with institutional and sophisticated investors for AUD35m and oversubscribed and the SPP was oversubscribed to generate more than the AUD2m wanted. Somebody likes our plans and our products.
We have 61 patents approved or pending globally. Gives the company great protection.
Honestly, the company looks in good shape.

I couldnt agree more the company is ready to fly to mars on space x

 

[HopalongPetrovski]

Pretty funny in a weird way over on the crapper now.
It's turned into a regular circle jerk with all the downramper's just talking to each other and slapping each other's backs.

 

[manny100]

Hi Tech,

I don't begrudge the engineers and programmers one cent of their bonuses. In my opinion, the technical advances with each iteration of Akida has more than tripled the potential market of the company.

Sales and marketing have had an extremely difficult task, selling an entirely new tech to an uncomprehending market with years of forward commitments.

As I may have mentioned before, I believe that cybersecurity on its own will make us profitable. This is now a COTS product, the market need for which has exponential growth as hackers are empowered by AI.

Then there is the astonishing advance of see-in-the-dark radar which grew out of the RTX microDoppler SBIR for USAFRL, radar which can not only identify objects but do so in fine detail. Of course, a lot of that advance does depend on the radar transceiver's capabilities, and on the models, but it would not be possible without the negligible latency of Akida enabling real time responses.

Hi Dio, according to Steve Brightfield the 'new' radar can be used by robotic arms to locate, grab navigate the factory/office floor etc. He said we were in discussions with robotics companies. Obviously early days. There would also be a lot of other potential uses, including, soldiers night wearable etc.
I can see this radar being available for civilian aviation use in due course.

 

[Pom down under]

Just to clarify I may have messed up with Pre Act who I think are using TENNS with Akida 2 as a hybrid solution. Happy to be corrected.

Also just reviewing revenue:
2023 - USD 232K - taken from 2024 AR
2024 - USD 398K - as above
2025 - USD 2.24M (based on quarterly figures)
These are CY an US FY figures.

And expenditure:
2023 - USD 28.8m - taken from the 2024 AR
2024 - USD 23.8m - as above
2025 - USD 18.8m (based on quarterly figures)

We have also a technology roadmap, we have grown the ecosystem, we have moved into volume production for 2026. Sometimes it's good to look back.
It's a pain in the arse that the speed of uptake and closing of deals has taken longer than expected, but this was clearly accepted and addressed by management, but we had definitely got purchase agreements with Parsons, Onsor and Nex Novus. Total value unknown, but given the relatively low numbers initially announced the cost to the customer will be higher than if when?! they take a higher volume of chips.

But smoothsailing I completely agree a deal with a consumer customer or perhaps Renesas or Megachips announcing a chip with AKD1000 for mass market take up is the one we and I think the market is waiting for and I am anticipating.

My personal take - Sean has done a good job and positioned the company well, transitioning it well (if a little slowly).

As always my opinion and research only!

 

[Guzzi62]

Reading your posts - communication from management is not what you want. You want communication from management that suits your requirements. If you actually read the latest quarterly, the AKD1500 release, then there is clearly significant progress. Volume production (say 100,000 chips), tiered pricing for high volume deployment (Parson) along with the Onsor and Nex Novus sales suggest the company is highly confident of sales here. Now this alone will not make us profitable but it does significantly move the dial in my opinion. I agree if we get a mass production sign on for chips or an IP deal from a consumer chip supplier, we move into profitability and a significant rerate.
If my reading of the tea leaves is good then Q3 2026 will see traction. As mostly happens with new technology it is taken up by defence first and then moves into consumer areas. My expectation is that with the news out, confidence grows in the market place. From this perspective I am intrigued with the PreAct relationship, which is being trialled in several areas in which the short term could be Smart Cities, traffic management, fall detection in lifts, as well as the potential automotive use case. It could be that some of the volume production for AKD 1500 is going in this direction. In my humble opinion if you read the quarterlies and newsletters and listen to the Youtube videos there are clear indications that things are progressing well.
My nervous twitch is if the company announces a delay to the volume production, which would be a large red flag.
My own thoughts on SP are around 0.70c by end of 2026 and I am hoping for at least $2 by end of 2027. I will admit that with an average buy in of 11.7c I am able to withstand and be patient somewhat easier than others, but I neither bought nor sold on the hype or negativity. I do have a significant amount of shares but how much I invested is my concern and my decision and not related to SP volatility or management communication, which in my opinion is generally good, with the occasional f*** up, eg the Chairs complete lies around the listing change. Again this is my opinion

I very much appreciate the 3 posts you made today.

They are some of the best analysis "of the lay of the land" I seen in a while.

I am feeling, like you, that we are almost there where it gonna get very interesting and suffering long time holders will be pleased.

Only IMO, not investment advice.

 

[TopCat]

Hi Dio, according to Steve Brightfield the 'new' radar can be used by robotic arms to locate, grab navigate the factory/office floor etc. He said we were in discussions with robotics companies. Obviously early days. There would also be a lot of other potential uses, including, soldiers night wearable etc.
I can see this radar being available for civilian aviation use in due course.

Radar you say….

 

[Jacob Kiraz]

Isnt Dr Brown a breath of fresh air, why cant our board explain things in the same way, it'll certainly put shateholders at easr

 

[7für7]

Just to clarify I may have messed up with Pre Act who I think are using TENNS with Akida 2 as a hybrid solution. Happy to be corrected.

Also just reviewing revenue:
2023 - USD 232K - taken from 2024 AR
2024 - USD 398K - as above
2025 - USD 2.24M (based on quarterly figures)
These are CY an US FY figures.

And expenditure:
2023 - USD 28.8m - taken from the 2024 AR
2024 - USD 23.8m - as above
2025 - USD 18.8m (based on quarterly figures)

We have also a technology roadmap, we have grown the ecosystem, we have moved into volume production for 2026. Sometimes it's good to look back.
It's a pain in the arse that the speed of uptake and closing of deals has taken longer than expected, but this was clearly accepted and addressed by management, but we had definitely got purchase agreements with Parsons, Onsor and Nex Novus. Total value unknown, but given the relatively low numbers initially announced the cost to the customer will be higher than if when?! they take a higher volume of chips.

But smoothsailing I completely agree a deal with a consumer customer or perhaps Renesas or Megachips announcing a chip with AKD1000 for mass market take up is the one we and I think the market is waiting for and I am anticipating.

My personal take - Sean has done a good job and positioned the company well, transitioning it well (if a little slowly).

As always my opinion and research only!

No worries doc… as long as you don’t mess up with the space-time continuum

 

[manny100]

Radar you say….

View attachment 94960

No camera use for AKIDA/RTX 'new''
Radar.
I doubt Godelius is neuromorphic which means its high power and lower latency. Appears no on chip learning either for Godelius.
No doubt there is room for other types of radar other than RTX/AKIDA.
We cannot under rate the input of the contractor RTX with algorithms.

 

[Diogenese]

No camera use for AKIDA/RTX 'new''
Radar.
I doubt Godelius is neuromorphic which means its high power and lower latency. Appears no on chip learning either for Godelius.
No doubt there is room for other types of radar other than RTX/AKIDA.
We cannot under rate the input of the contractor RTX with algorithms.

This 20200414 Godelius patent application uses vanilla radar:

WO2021207861A1 ROBOTIC METHOD AND SYSTEM FOR JOINING PARTS OF A STRUCTURE USING ANCHORING ELEMENTS SUCH AS NUTS, BOLTS, SCREWS, PLUGS OR RIVETS IN DIFFERENT STRUCTURES AND AT DIFFERENT HEIGHTS AUTONOMOUSLY, WITHOUT THE PRESENCE OF PEOPLE IN THE WORK AREA

 

[genyl]

Last one for a while, but I take heart from the fact that the last CR, was fully underwritten with institutional and sophisticated investors for AUD35m and oversubscribed and the SPP was oversubscribed to generate more than the AUD2m wanted. Somebody likes our plans and our products.
We have 61 patents approved or pending globally. Gives the company great protection.
Honestly, the company looks in good shape.

You also think the share price looks in good shape?

 

[TopCat]

No camera use for AKIDA/RTX 'new''
Radar.
I doubt Godelius is neuromorphic which means its high power and lower latency. Appears no on chip learning either for Godelius.
No doubt there is room for other types of radar other than RTX/AKIDA.
We cannot under rate the input of the contractor RTX with algorithms.

They might know a thing or two about power, latency and autonomy though

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