BRN Discussion Ongoing

[Rise from the ashes]

Thanks mate much appreciated.

 

[Stable Genius]

I agree Yak52. My concern is that this is something more insidious than just the usual shorting shenanigans. My theory is that this could be part of a takeover strategy. PVDM can block a takeover, so remove him from the board, see if he gets the sh*ts from that and sells his shares, making it easier to mount a takeover bid. At the same time short the stock to get stock cheap and unsettle retail, making them think following the AGM that things are not going according to plan in the company. As the stock is reversing and doubts are rising, make your bid. I mean really, what other explanation is there (although I'm all ears). To my mind there was nothing said at the AGM that should have caused this kind of SP reaction. I open the floor to others . . .

Hi 69,

I‘m just catching up but I don’t think the Management Team are as concerned with the current SP as us Shareholders.

To mind they are focussed on growing the business, expanding the ecosystem/network of suppliers who will in turn grow the business exponentially.

A bit like the old Amways system. You could have one person running about selling like crazy or you sell to more sellers, who sell to more sellers until eventually everyone in the street/neighbourhood is connected with someone who is selling the product.

If they get the network up and running then SiFive, Renasas, Arm, Megachips etc are running about doing the selling whilst Brainchip is banking IP and royalties at high profit margins.

Then the Shareprice will do as the Shareprice does: Revenue equals price spike, consistent revenue will equate consistent value which will stop the current fluctuations occurring. The modelling they showed us at last years AGM is still current I suggest and we’re still in the early stages of growth.

The Management Team are fully confident in the path they are taking and experienced enough to be able to change tact if they need but the combination of: first to market, best of class edge AI and the great team has me full of confidence.

Listening to the Team yesterday clearly shows they are here to win this race which doesn’t include being taken over!

Cheers

Edit: I just watched the Stocks down under interview and Sean explained it way better than my Amways model!

 

[robsmark]

OK here is a way for you to resolve this make a formal complaint to the ASX that Brainchip failed to announce the ARM partnership.

You have even taken Sean’s words out of context he did not say they are doing the minimum he said they are strictly complying with the ASX Rules.

This is not about opinions this is about what the ASX allows a tech company like Brainchip to announce via the ASX platform.

I do not care if you respect me or not for the purpose of this discussion you are wrong and you could lead others into the same misunderstanding.

Brainchip cannot announce things on the ASX that are considered ramping. This falls within the definition of ramping being applied by the ASX to technology companies.

It is just that simple.

Whether I or you think it is a correct way for the ASX to run the show is irrelevant our opinions do not matter.

My opinion only DYOR
FF

AKIDA BALLISTA

I seemed to have bent your nose out of shape here FF, again this was not my intention.

To quote Sean, he said “We comply with the rules of the ASX, but we don’t share any more than we have to by regulation”. So it appears we are both correct here ( - 46:20).

I fail to see how releasing to the market a signed partnership with an industry leader can be seen as ramping? I won’t waste my time quoting the ASX 3.1 rule on continual disclosure, I’m sure with your background in law you’ll know it better than anyone. youd also know how legal text can be manipulated to justify an outcome, after all that’s what keeps lawyers in business right?! Now I’m not saying Brainchip are guilty of any of the above, I’m just repeating what our CEO said in yesterday’s AGM, and voicing my opinion on how the SP is being managed.

Not that I need to justify myself to the masses as this is a public forum, but again:
- I’m thrilled by the professionalism demonstrated by the company over the past few months, this AGM was a cut above previous that I have attended (virtually);
- The material has improved, the staff are increasing, the products continue to be developed;
- There has been a great deal of positive media attention around Brainchip and the potential relationships made over this past couple of years.
I’m a fan, I hold a fairly significant amount of shares (to me at least), and look forward to a bright future.

I have no doubt Brainchip will win the war, it’s the battle with the SP which concerns me.

I may not post as frequently as I once did, but I read this forum each night, and remain a long term holder With no intention of selling my shares. I‘m quick to post positivity when I see fit, and I have a right to voice my opinion on the things that don’t impress me so much. This is healthy.

 

[Diogenese]

Following my robust objection to the Remuneration Report at the 2018 AGM… when I said the rewards being provided were way too premature and excessive for a company where Brainchip was at…I stood again yesterday and said much more politely than in 2018, that whilst I agree with rewards, they should only be granted AFTER someone has achieved something above and beyond what the company expected of them, not BEFORE.

I continued by saying I expected Brainchip to become a giant, a company that will make us all very proud to be associated with, but right now, whilst making good progress, our company can only be described as having potential.

We have a whole new board and executive since 2018, but once again we see people being massively over rewarded before they’ve achieved anything other than what (well at least what I) would normally expect of them from doing their day-to-day job.

I am first to agree that our new Chair and CEO sound impressive, but right now all we have from them are words.

Our shares are already valuable, but we all know we’re only seeing the tip of their value iceberg. We should not cast them around like confetti, before the recipients have done anything to really deserve them.

I also suggested that the structure of our rewards programme was too narrow and inequitable…that our bosses should get a bit less so deserving employees lower down could get a little more.

Tony Dawe and I had an interesting conversation about this after the meeting. I also had an enlightening chat with Sean about several matters including…’we don’t need China’.

Whilst in an assertive mindset…may I suggest that some of you stop whinging about our share price and how it’s being manipulated, and use the volatility to your own advantage?

As we heard at the AGM…’the share price is what it is’.

On Monday when our share price was above $1.30, it was as clear as day
that an accumulation opportunity was in the offer. I sold one million shares and bought them back today for $1.055…a net accumulation of 200K plus shares

I know this is not without risk, but even Blind Freddie should have seen this opportunity.

Hi RI,

Before I could make specific comments on the staff remuneration including share options, I would need to know what the KPIs were and whether the amount of effort to meet these measures was proportionate to the reward.

However it is important to reflect on the achievements of the company over the last 4 years.

In 2018, the company was in danger of foundering and it was all hands to the pumps to keep her afloat while the entire business model was jettisoned so the company could focus on the production of the SNN SoC known as Akida 1000. The whole crew were burning the candle at both ends to achieve this. After the engineering samples were made and distributed to early adopters, and the crew were resting on their oars, feedback from the early adopters pointed to essential modifications which were needed to make the chip a viable proposition. This feedback was taken into account and major adjustments were made to the chip design, again requiring a herculean effort from the team. These changes greatly enhanced to functionality and commercial viability of the chip, which finally emerged 4 months ago performing better than expected.

I have no doubts about the ability, dedication and commitment of the BrainChip team, and, without knowing the individual KPIs, I do not begrudge them their rewards. Without their efforts, our company could have been dissipated in a fire sale of IP assets in 2018.

 

[MaxwellAnne]

Can someone who attended/listened in on the AGM please give the context of Sean’s statement that our technology is not revolutionary but incremental. I am quite confused about this as I thought it is revolutionary and with no competitors atm ??

 

[Perhaps]

I actually didn’t like that comment. Part of running a public company is managing the SP. Releasing the “minimum required to satisfy ASX requirements” is not doing the SP any favours. Don’t get me wrong, I don’t want this company to release fluff, in fact, the fact that they don’t is something which I find comforting - but partnerships with the likes of ARMS?! Come on... Especially given the SHers patience with zero news flow about the EAP. WE DESERVE THIS!!!

I have an increased confidence in the new found professionalism of this company - ditching the robot, refreshing the website, taking marketing away from PVDM and having him focus CTO responsibilities are all great moves. But when you have an obvious short campaign happening against your ship, you have to use all the artillery available.

I can only hope that this comment was made because those with inside knowledge are that comfortable with what they know. We’re almost in our sixth month of 22, and are still waiting on further commercial announcements, after being assured that this was the year. I won’t sell as I see the potential here, but better SH consideration is required I think.

First goal of a company I'm invested in should be to survive the critical years before being established. If this is in conflict with impatient shareholders who need a steady flow of good news to be satisfied, bad luck. Anybody who's in need for good news can read this forum, enough material to calm the nerves. Still a long investment. In the meantime the share price is what it is.

 

[robsmark]

Can someone who attended/listened in on the AGM please give the context of Sean’s statement that our technology is not revolutionary but incremental. I am quite confused about this as I thought it is revolutionary and with no competitors atm ??

 

[Chipper]

After watching the trading activity over the past week I have a thought that I can’t shake. I was unaware of the position of having had a first strike last year on remuneration as I only invested in November 21.
One would assume the board would have taken a conservative stance this year with the very real risk of a potential second strike causing a spill.
Pretty high stakes going into the AGM with that resolution unless of course shares/votes had been accumulated to guarantee the resolution passed.
Followed by the Immediate disposal after votes were in.
Something smells

 

[Quatrojos]

I have a great deal of respect for you as a poster FF, and have followed you for a number of years. In this case I believe you are incorrect. Many companies release ASX announcements regarding new partnerships, a simple search on HC will validate this. It came out of Seans mouth yesterday that they were doing the minimum to satisfy ASX regulations, it was also stated that the SP will do, what it will do.

As I said previously, most of what transpired yesterday was highly positive, I just took issue with this statement.

Of course I understand that these partnerships will eventually lead to revenue, At no point have I ever said anything to the contrary. My issue at the moment is the diminishing SP, and the companies blatant disregard to do anything about it. Something I’ve also posted about previously.

Cheers,
Mark

Team BRN were OK with making non-sensitive anns prior to, and following, their cap calls with LDA. I agree with Mark; the relative silence following the last cap call is inconsistent and unnecessary.

 

[Fullmoonfever]

On the topic of ASX Ann's there was definitely a rule change and further scrutiny flagged by the ASX if they saw fit.

The thing for me is that it is still a little grey which allows some companies to meet continuous disclosure but not Ann some things that would actually also inform the mkt via official channels.

Nor a argument here from me but the way I see it is the company can make the Ann's of partnerships and similar so long as not marked price sensitive (likely queried) or the timing isn't fortuitously aligned with something like a cap raise or uses overly exuberant wording to pump it up.

If price sensitive then really needs something material and also potentially revenue generating or formal contract etc.

Personally, I would like the company to not take the easy path and actually make the occasional formal non price sensitive Ann on things like Arm, Nviso & SiFive.

These to me would simply be a statement of fact to "inform" the mkt (as allowed for) that a partnership has been undertaken but no formal contract, licensing, revenue model etc is in place.

The concern would be if there "is" a material contract in behind the partnership that the ASX would possibly require price sensitivity on the Ann and some meat around the contract.

Though there are other rules around what gets disclosed for those details as they can be industry sensitive (margins, fees etc), technology protective and the like

Here is a summary from HerbertSmithFreehills to give a snapshot.

Ramping Reprimand: ASX issues latest disclosure caution

www.herbertsmithfreehills.com

Listed companies should be aware that “ramping” announcements are on the ASX’s radar. Companies risk suspension from trading if the ASX considers that they have released announcements that are designed to “ramp” up their share price rather than to inform the market.

IN BRIEF​ ASX recently advised that “ramping” announcements are on its radar and that companies making them risk suspension from the ASX. “Ramping” announcements are designed to increase a company’s share price, rather than to inform the market. ASX has observed that these types of announcements are often disclosures about customer contracts. Companies should be aware that ASX is maintaining its spotlight on the disclosure of customer contracts, following its related guidance issued late last year on this topic.

ASX COMPLIANCE UPDATE​

In its recent Compliance Update (Compliance Update No. 07/19), ASX issued a strong caution to listed entities against making announcements it termed “ramping” announcements.
ASX has said that whenever it detects what it suspects to be a “ramping” announcement, it will not hesitate to suspend trading in the entity’s securities and issue a query letter asking the entity to:

• explain its basis for lodging the announcement – specifically whether it was lodged to meet the company’s continuous obligations under ASX listing rule 3.1 or for some other purpose; and
• identify what information in the announcement is market sensitive and why it is market sensitive.

In less serious cases, ASX may instead require an entity to publish a corrective announcement highlighting that the information in the “ramping” announcement is not material.
This most recent ASX compliance update comes off the back of ASX’s focus on improving disclosures relating to customer contracts. ASX issued updated Guidance Note 8 to introduce specific criteria for the disclosure of customer contracts and ASX also issued a compliance update in March 2018, following a number of high profile cases involving companies who issued misleading announcements relating to their customer contracts.

WHAT IS A “RAMPING” ANNOUNCEMENT?​

A “ramping” announcement is an announcement that is designed to increase the price of an entity’s securities, rather than to inform the market.

It typically contains exuberant or superlative language and discloses information that has little substance and that is not material to the entity.

ASX noted its observations on the timing and nature of the “ramping” announcements it has detected, indicating that:

• some of the announcements seem to be made around the time of a capital raising with the purpose of either supporting the company’s share price ahead of a raising or facilitating a profitable exit for some investors after a raising; and
• the announcements often focused on customer developments or business updates which have minimal substance.

ASX’s focus on these kinds of announcements appears to be underpinned by a concern that they are misleading market participants, and may be creating a false market in an entity’s securities.

TAKEAWAYS​

Listed entities may have a range of reasons for making an ASX announcement, even where the information is not necessarily price sensitive requiring disclosure under their continuous disclosure obligations.

In addition, the question of whether information is price sensitive is not always black and white, with entities often electing to over-disclose, in view of the consequences of breaching their continuous disclosure obligations.

Many of these announcements will have been made for perfectly legitimate reasons, and will continue to be appropriate.

We think the key takeaways are for listed entities to check the following three points before publishing an announcement:

• Language: is the language being used in the announcement appropriate in the context of the information being conveyed – e.g., if marketing style language is being used, is it unnecessarily exuberant?
• Timing: when is the announcement being made? Is there a risk that the ASX could view the timing of the announcement, along with any other planned action by the listed entity, as being deliberately designed to prop up the entity’s share price?
• Customer contracts: if the announcement is in relation to customer contracts, does the announcement comply with the specified criteria in section 4.15 of ASX’s Guidance Note 8?

 

[TECH]

Hi All,

This is an important message, so for all the posters who followed me over on hot crapper and now on this much more relaxed forum, may I say this...

I have received a nice email back less than an hour ago from Peter.

I've always been honest and straight up with everyone through my posts, and I'm very pleased to say that there's no concerns whatsoever with regards a rather low vote count for our Founder to be reinstated as a Director...the company as a whole is moving all in tune now, which may not have always been the case in previous years, in my opinion.

The mood is very positive and believe me when I say....nothings going to stop our fantastic company.

A comment I made, maybe a year ago about, how positivity attracts positivity, successful companies seem to draw energy off each other to enable them both/all to reach higher levels of success...I believe many, many more companies are going to saddle up to us, as they see that Brainchip is definitely attracting much more attention worldwide, leaders lead, that's what's been transpiring over the last 6 months and only going to accelerate.

Best regards.......Tech x

 

[wilzy123]

Hi All,

This is an important message, so for all the posters who followed me over on hot crapper and now on this much more relaxed forum, may I say this...

I have received a nice email back less than an hour ago from Peter.

I've always been honest and straight up with everyone through my posts, and I'm very pleased to say that there's no concerns whatsoever with regards a rather low vote count for our Founder to be reinstated as a Director...the company as a whole is moving all in tune now, which may not have always been the case in previous years, in my opinion.

The mood is very positive and believe me when I say....nothings going to stop our fantastic company.

A comment I made, maybe a year ago about, how positivity attracts positivity, successful companies seem to draw energy off each other to enable them both/all to reach higher levels of success...I believe many, many more companies are going to saddle up to us, as they see that Brainchip is definitely attracting much more attention worldwide, leaders lead, that's what's been transpiring over the last 6 months and only going to accelerate.

Best regards.......Tech x

xx

 

[Pappagolla]

Can someone who attended/listened in on the AGM please give the context of Sean’s statement that our technology is not revolutionary but incremental. I am quite confused about this as I thought it is revolutionary and with no competitors atm ??

That’s not what he said. Watch the AGM video from 48 mins onwards. Sean explains that refining current tech can only provide incremental gains and “is not revolutionary like us” i.e. new tech with undeniable advantages.

 

[Fact Finder]

Following my robust objection to the Remuneration Report at the 2018 AGM… when I said the rewards being provided were way too premature and excessive for a company where Brainchip was at…I stood again yesterday and said much more politely than in 2018, that whilst I agree with rewards, they should only be granted AFTER someone has achieved something above and beyond what the company expected of them, not BEFORE.

I continued by saying I expected Brainchip to become a giant, a company that will make us all very proud to be associated with, but right now, whilst making good progress, our company can only be described as having potential.

We have a whole new board and executive since 2018, but once again we see people being massively over rewarded before they’ve achieved anything other than what (well at least what I) would normally expect of them from doing their day-to-day job.

I am first to agree that our new Chair and CEO sound impressive, but right now all we have from them are words.

Our shares are already valuable, but we all know we’re only seeing the tip of their value iceberg. We should not cast them around like confetti, before the recipients have done anything to really deserve them.

I also suggested that the structure of our rewards programme was too narrow and inequitable…that our bosses should get a bit less so deserving employees lower down could get a little more.

Tony Dawe and I had an interesting conversation about this after the meeting. I also had an enlightening chat with Sean about several matters including…’we don’t need China’.

Whilst in an assertive mindset…may I suggest that some of you stop whinging about our share price and how it’s being manipulated, and use the volatility to your own advantage?

As we heard at the AGM…’the share price is what it is’.

On Monday when our share price was above $1.30, it was as clear as day
that an accumulation opportunity was in the offer. I sold one million shares and bought them back today for $1.055…a net accumulation of 200K plus shares

I know this is not without risk, but even Blind Freddie should have seen this opportunity.

Yes Blind Freddie did see at 4.30 pm today saying “That would have been a great trade if you are an honest trader and not part of the group manipulating the price to manufacture the opportunity.”

Blind Freddie like myself sees most of these opportunities after the event with the benefit of hindsight.

I did like your statement at the AGM but it was missing one ingredient popular support as these motions achieved over 98% of approval by shareholders.

It might be that while we all agree about remuneration being fair, equitable and an incentive to nurture performance these motions all passed the pub test with glowing colours and your assessment of them as being out of line was incorrect.

I am no judge as I compare what Sean Hehir is asked to do and what a rugby player is asked to do and what they get paid and think Sean Hehir should be paid ten times his present remuneration.

My opinion only DYOR
FF

AKIDA BALLISTA

 

[DollazAndSense]

Not sure if this has been discussed before. Do I smell Akida?

"Introduced in December, the Electronics and Telecommunications Research Institute(ETRI)'s ArtBrain-K is capable of running 5,000 trillion computations per second. The system is powered by ETRI's AB9 high-performance AI chip, which is an NPU that emulates the neural networks of a human brain.
"ArtBrain-K has four times the computing capacity and seven times more energy efficiency compared to the previous GPU-based server," said Lyuh Chun-gi, head of ETRI's AI processor research team."
"The ArtBrain-K is going to be deployed in a facial recognition system at airports for automated passport control."

Korea bets tomorrow belongs to AI chip leaders

AI chips are the key to future semiconductor market dominance for Korea companies, academics and others argue.

koreajoongangdaily.joins.com

I found the Senior Researcher of Korea Electronics and Telecommunications Research Institute - Jaejin Lee - looked at Akida (as well as Intel Loihi) back in January 2021:

https://www.itfind.or.kr/publication/regular/weeklytrend/weekly/view.do?boardParam1=8071&boardParam2=8071

I google translated some of the text to read myself and impressions of Akida seemed very positive (I don't know how accurate my Google Translating was lol).

@uiux mentioned ETRI in the following thread

South Korea, Samsung, Hyundai + Neuromorphic thread​

"
The Korean government plans to invest 1 trillion won on AI-related technologies in the next 10 years.

It will not be Homo sapiens alone that will determine what their future will be like. Artificial intelligence will have a fair share of influence on shaping the future for Homo sapiens as well. That is the belief held by the Electronics and Telecommunications Research Institute (ETRI), which says artificial intelligence will have the greatest impact on all industries that the world has ever witnessed in the history of industrial revolutions."

 

[miaeffect]

xx

View attachment 7705

 

[hamilton66]

View attachment 7693

 

[Pmel]

How good is this. Commsec mentioned BRN as a no 1 traded stock. I scrolled down to see few weeks to see if they have interviewed anyone recently but couldn’t find any. We must be making big news among big companies.
Dyor

 

[Kozikan]

Tonya Harding?

Yes

 

[somme]

sbs now? Drones battle of the bulge