Financials

[Dave Evans]

Got my SPP in the mail mail today. Not surprised it was late but I am surprised why they think I would take up the offer for $0.175c when they were selling on the ASX for $0.165c today. Lucky the raise was underwritten by the big manipulator who got the share price down to where it currently is. At least focusing on the financials means I’m not getting sucked into focusing on bullshit hype

 

[manny100]

BRN are not concerned with raising via retail SPP. That is why they are only throwing $2 mill out there.
Some may throw a little lose change in with it being around short and long term oversold as well as around long term support. That is an interesting combo.
Others may throw in a thou or 2 to prevent being scaled back in the event of another SPP after a deal has been done and its at a favorable price. Some say this will not happen but just maybe in another 12 months it might.

 

[Dave Evans]

BRN are not concerned with raising via retail SPP. That is why they are only throwing $2 mill out there.
Some may throw a little lose change in with it being around short and long term oversold as well as around long term support. That is an interesting combo.
Others may throw in a thou or 2 to prevent being scaled back in the event of another SPP after a deal has been done and its at a favorable price. Some say this will not happen but just maybe in another 12 months it might.

Then the SPP offered to retail investors was basically bullshit to keep some happy and make the CR seem a little fairer Manny. As you suggested, $2 million is fuck all as far as this raise and it’s obvious they weren’t interested in retail.

As far as you throwing in $2 thou, being scaled back, and speculation about what might happen in a year, please mate, I’ve held BRN for 5 years and that’s how long I’ve been hearing bullshit about what might happen in a year. I don’t know why you would even bring that nonsense into a reply.

If you want to speculate, maybe try speculating that JP Morgan’s usual MO is once they manipulate a share price down, then substantially increase their holdings in that company, they’ll release a positive report to the market (often within two weeks or a month of the purchase) then sell off again for a profit. The alternative could be that they would hold if they really believe BRN has a major contract. Given JP Morgan’s MO, I would lean towards the first option but hope for the second.

If you want more speculation try these…. JP Morgan get inside information on BRN and were part of the push to delist BRN from the ASX. Anyway Manny, I don’t follow BRN every day like I once did, the only reason I commented today was because I got the bogus SPP in the mail.

 

[Dave Evans]

25/11/2025

I know the big institutional investors and investment banks like JP Morgan manipulate company’s share prices but I’m not up on short selling. I’ve long suspected them of manipulating BRN shares so I was wondering if this announcement today by JP Morgan indicates they short sell BRN shares

8,405,400 securities on loan

 

[Dave Evans]

25/11/2025

I guess these posts from the main thread add some clarity to JP Morgan’s manipulation of the share price

HopalongPetrovski​

I'm Spartacus!​

• Today at 9:57 AM
• #107,050

So did management sell shares through the raise to JP morgan, then they used those shares to pay back the shorts they had out or am I totally misreading everything?

From what I can understand, over the period from 18 July through to 17 November they bought 120 million odd which meant they had just over 5% voting power and so were mandated to announce.

They have since sold a bit over 10 million leaving them with a balance of 109,736,076 as at end 20 November and so slipping back under the 5% threshold, have to inform the market.

God only knows what they will do with their remaining substantial stake but whilst it remains below a reportable figure they can resume operating in relative anonymity.

About 8 million of the shares they have relinquished are classed as borrow return.

Stock Disclosure:
BRN Held

[IMG alt="Mccabe84"]https://thestockexchange.com.au/data/avatars/m/0/168.jpg?1643884062[/IMG]

Mccabe84​

Regular​

• Today at 10:07 AM
• #107,051

From what I can understand, over the period from 18 July through to 17 November they bought 120 million odd which meant they had just over 5% voting power and so were mandated to announce.
They have since sold a bit over 10 million leaving them with a balance of 109,736,076 as at end 20 November and so slipping back under the 5% threshold, have to inform the market.
God only knows what they will do with their remaining substantial stake but whilst it remains below a reportable figure they can resume operating in relative anonymity.
About 8 million of the shares they have relinquished are classed as borrow return.

Thanks for you thoughts, im just a novice long term holder and don't fully understand everything

Stock Disclosure:
Held.


[IMG alt="Adika"]https://thestockexchange.com.au/data/avatars/m/0/612.jpg?1644011481[/IMG]

Adika​

Regular​

• 53 minutes ago
• #107,052

From what I can understand, over the period from 18 July through to 17 November they bought 120 million odd which meant they had just over 5% voting power and so were mandated to announce.
They have since sold a bit over 10 million leaving them with a balance of 109,736,076 as at end 20 November and so slipping back under the 5% threshold, have to inform the market.
God only knows what they will do with their remaining substantial stake but whilst it remains below a reportable figure they can resume operating in relative anonymity.
About 8 million of the shares they have relinquished are classed as borrow return.

Hi Hoppy,

I was looking at this before trading opened today.

Have we just cap raised providing shares to an institution that then sold the shares to a company who has been actively shorting BRN?

As of 12 Nov short positions were 137mill.

Shares traded either side of 17th total 45mill.

Cap raise was 200mill and shares were issued on 17 Nov at 17.5 cents a share.

JP Morgan Chase became a substantial holder on 17 Nov due to this purchase of 46mill shares at 18 cents per share.

As of 17 Nov short positions were 91mill, a difference of 46mill from 12th Nov.

Stock Disclosure:
Held.

[IMG alt="HopalongPetrovski"]https://thestockexchange.com.au/data/avatars/m/0/639.jpg?1644022264[/IMG]

HopalongPetrovski​

I'm Spartacus!​

• 22 minutes ago
• #107,053

Hi Hoppy,

I was looking at this before trading opened today.

Have we just cap raised providing shares to an institution that then sold the shares to a company who has been actively shorting BRN?

As of 12 Nov short positions were 137mill.


View attachment 93300


Shares traded either side of 17th total 45mill.

View attachment 93304


Cap raise was 200mill and shares were issued on 17 Nov at 17.5 cents a share.


View attachment 93303

JP Morgan Chase became a substantial holder on 17 Nov due to this purchase of 46mill shares at 18 cents per share.

View attachment 93302

As of 17 Nov short positions were 91mill, a difference of 46mill from 12th Nov.

View attachment 93305

Hi Adika.
I really don't have either the relevant resources, connections or inclination to accurately and forensically account for the intricate details of the dealings of an institution such as JP Morgans.

However, I understand that institutions such as they, collectively known as the BEOT, regularly hedge (short), employ Bots and encourage FUDster's, and do their damnedest to manipulate markets and market behaviour in an effort to maximise their profits, so I wouldn't be surprised if you were right.

Once BrainChip, or any other company for that matter, create and then sell shares, they lose control over what happens to them or into whose hands they fall.

Unfortunately, whilst the company is confined to these methods of raising capital in order to continue its existence, we will continue to be subject to this potentially negative behaviour, as has been the case over the past 2 or 3 years, since we came to the attention of the predators with our inclusion into the ASX indices.

 

[justso retired]

25/11/2025

I know the big institutional investors and investment banks like JP Morgan manipulate company’s share prices but I’m not up on short selling. I’ve long suspected them of manipulating BRN shares so I was wondering if this announcement today by JP Morgan indicates they short sell BRN shares

View attachment 93306 View attachment 93307

8,405,400 securities on loan

does JP Morgan actually short-sell ( BRN ) that is borrow CLIENT'S shares to trade ??

i don't know

do they LEND shares ( they hold directly or on behalf of clients ) to traders ( who probably short-sell ) very much so

 

[Dave Evans]

does JP Morgan actually short-sell ( BRN ) that is borrow CLIENT'S shares to trade ??

i don't know

do they LEND shares ( they hold directly or on behalf of clients ) to traders ( who probably short-sell ) very much so

Multiple searches indicate JP Morgan short sells shares (they are an investment bank & fund manager). The announcement today shows they loaned over 8million shares on the 20/11/2025. I don’t know what those sleazy prick’s get up to, I just suspect they had a big role in manipulating the share price down

 

[justso retired]

Multiple searches indicate JP Morgan short sells shares (they are an investment bank & fund manager). The announcement today shows they loaned over 8million shares on the 20/11/2025. I don’t know what those sleazy prick’s get up to, I just suspect they had a big role in manipulating the share price down

isn't it JP Morgan with a very large grip on the silver market ?

but some fund-managers like Vanguard and State Street openly tell you they lend out shares for extra earnings ( one might assume they are client's shares held via portfolio baskets ) but several other fund managers lend , like Norges , when i was watching BPT very closely , obviously so does MacQuarie

but most stick to the large-caps/mid-caps so they can bundle the shares into funds/ETF portfolios , and earn fees in multiple ways

now IF somebody is borrowing to deliberately drive the price down ( not just betting the price will slide and slide ) what is the motive ?

lining the company up for a take-over , force them into a cap. raise , force them out of business/slow down development ?

big money spent implies an even bigger gain later on .

now on the very rare occasions i 'flipped a stock ' ( different stocks to BRN ) that is sold a stock i already hold , to buy back more, cheaper that can be risky ( although not as dangerous as short-selling ) rarely do you get a 'guaranteed buying price ' that you like ( unless during a formal SPP )

such an opportunity ( that i did not take ) was recently in APE the price at the start of the cap-raise was close to $30 but the entitlement price was $21 , so you could have sold enough on market to fund your entitlement plus a few shares extra .

so if there is solid short-selling in BRN , what is the motive ? short-term gains or something else ?

 

[Dave Evans]

[SIZE=17px][B]BrainShit[/B][/SIZE]

Regular​

Institutions are likely trading for a mix of purposes: managing proprietary positions, facilitating client orders, hedging exposures... the borrow and borrow‑return often support activities like market‑making, short selling, and balance‑sheet optimisation for those counterparties, while JPMorgan manages its own risk and regulatory disclosure obligations.

In this case J.P. Morgan executed multiple on‑market buys and sells in BrainChip shares, and JPMorgan Chase Bank, N.A. had securities on loan that were returned.

A significant part of JPMorgan’s relevant interest came from securities lending, with JPMorgan Chase Bank, N.A. acting as agent lender under GMSLA/MSLA agreements with multiple borrowers (BNP Paribas Financial Markets, BofA Securities, Citigroup Global Markets, Merrill Lynch International, Morgan Stanley & Co. LLC).

The prior substantial holder notice was dated 17 November 2025, given to the company on 19 November 2025, and this “ceasing to be substantial holder” notice was signed on 24 November 2025.

Source: https://cdn-api.markitdigital.com/a.../1.0/file/2924-03027498-2A1638242&v=undefined

 

[Dave Evans]

isn't it JP Morgan with a very large grip on the silver market ?

but some fund-managers like Vanguard and State Street openly tell you they lend out shares for extra earnings ( one might assume they are client's shares held via portfolio baskets ) but several other fund managers lend , like Norges , when i was watching BPT very closely , obviously so does MacQuarie

but most stick to the large-caps/mid-caps so they can bundle the shares into funds/ETF portfolios , and earn fees in multiple ways

now IF somebody is borrowing to deliberately drive the price down ( not just betting the price will slide and slide ) what is the motive ?

lining the company up for a take-over , force them into a cap. raise , force them out of business/slow down development ?

big money spent implies an even bigger gain later on .

now on the very rare occasions i 'flipped a stock ' ( different stocks to BRN ) that is sold a stock i already hold , to buy back more, cheaper that can be risky ( although not as dangerous as short-selling ) rarely do you get a 'guaranteed buying price ' that you like ( unless during a formal SPP )

such an opportunity ( that i did not take ) was recently in APE the price at the start of the cap-raise was close to $30 but the entitlement price was $21 , so you could have sold enough on market to fund your entitlement plus a few shares extra .

so if there is solid short-selling in BRN , what is the motive ? short-term gains or something else ?

I put as much here as I’m going to. I think the post above this one from Brainshit answers the question. JP Morgan is just another example of how investment banks and fund managers use their power to manipulate stocks and at the same time rip off retail holders. I think they manipulated the share price down to $0.19c so they could pick up a few hundred million shares and I suspect they had inside information on a CR (bringing the SP down to $0.17c). When they want the SP to go back up they’ll put out a positive report on neuromorphic computing and list BRN as one of the top innovators but unless BRN signs a decent revenue contract, that could be another typical investment bank pump and dump. That’s only my opinion, not advice