BRN Discussion Ongoing

[buena suerte :-)]

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YES!! Sydney – 10 January 2023
Sydney – 10 January 2023 – BrainChip Holdings Ltd (ASX: BRN), a leading provider of ultralow power, high-performance AI processor technology today announced that the company has submitted a capital call notice to LDA Capital Limited and LDA Capital LLC (LDA) to subscribe for up to 30,000,000 shares with an option for LDA to subscribe up to an additional 10,000,000 shares subject to company approval. The terms of the Put Option Agreement between the Company and LDA were announced to ASX on 13 August 2020 and 26 October 2020 (First Amendment) and again on 13 October 2021 (Second Amendment).

The Capital Call Notice pricing period will begin upon exercise of the put option on or around 11 January, with an anticipated ending date in late March or early April, subject to adjustments based on the share price performance throughout the pricing period. The issue price for the capital call shares will be 91.5% of the higher of the average daily VWAP of shares over the pricing period (subject to any applicable adjustments) and the minimum price notified to LDA Capital by the Company.

As of the date of the capital call notice, available funding under the agreement amounts to $27.9M while the company is committed to drawing down a minimum of $15M no later than 31 December 2023. “The proceeds raised from the capital call will be used to accelerate our innovation of the groundbreaking Akida technology as we extend our industry leadership in Edge AI. In 2023 the company will tape out another chip and release significant enhancements to our IP offering”, said BrainChip CEO Sean Hehir. Mr. Hehir went on to say “Additionally, we will further expand our go-to-market capabilities by hiring sales personnel in key international markets, as well as increase our domestic sales and marketing headcount.”

 

[Foxdog]

Re: Chapman89 post: Yes 'very soon' so one would imagine that BRN has been paid something to facilitate this. That said we might see some moderate revenue in the next 4C. I think even a trickle of increased revenue will indicate that things have really started to progress. Of course the down rampers will jump all over it and SP might fall again. This would not be a true reflection of future growth and might well be an opportune time to deploy any excess funds.

Of course this my opinion only and is based on a personal history of buying and seeing the SP drop poste haste thereafter - almost 100% of the time

 

[DJM263]

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Yes, hot off the press.

“The proceeds raised from the capital call will be used to accelerate our innovation of the groundbreaking Akida technology as we extend our industry leadership in Edge AI. In 2023 the company will tape out another chip and release significant enhancements to our IP offering”, said BrainChip CEO Sean Hehir. Mr. Hehir went on to say “Additionally, we will further expand our go-to-market capabilities by hiring sales personnel in key international markets, as well as increase our domestic sales and marketing headcount.”

I like this wording, but still have Sean's comments about covering all employee costs by end of 2022 with sales! Is it just me or has Sean not being doing many interviews lately?


AKIDA Ballista

 

[thelittleshort]

 

[Fact Finder]

Media Alert: BrainChip Talks AI Innovation with Accenture's Managing Director and Global Chief Technology Officer, Applied Intelligence Jean-Luc Chatelain

 

[spookymulder]

Not sure if this has been posted, seemingly hot off the press! Our man Sean speaking with Accenture on the upcoming BRN podcast

Media Alert: BrainChip Talks AI Innovation with Accenture's Managing Director and Global Chief Technology Officer, Applied Intelligence Jean-Luc Chatelain

BrainChip Holdings Ltd (ASX:BRN)(OTCQX:BRCHF)(ADR:BCHPY), the world's first commercial producer of ultra-low power, fully digital, event-based, neuromorphic AI IP, invites you to a conversation with Jean-Luc Chatelain, Managing Director and Global Chief Technology Officer of Accenture Applied...

finance.yahoo.com

 

[Mccabe84]

So no explosion in sales anytime soon ? Otherwise LDA wouldn’t be needed

 

[Pmel]

So no explosion in sales anytime soon ? Otherwise LDA wouldn’t be needed

Doesnt look like. Well....

 

[Damo4]

So no explosion in sales anytime soon ? Otherwise LDA wouldn’t be needed

What's the cost of good sold??
Are you implying that if it was at 50%, we would be expected to be selling $30m in chips to cover $15m of R&D costs, literally not including the usual running costs set out on the last 4C?

Wouldn't $10m still be considered an explosion, given the last 4C? That would still very much require this Capital call.

 

[JK200SX]

Doesnt look like. Well....

Nothing wrong with having a good cash buffer - I think this is all positive!

 

[Jimmy17]

So no explosion in sales anytime soon ? Otherwise LDA wouldn’t be needed

No, brn are obliged to draw on $15 mil before 31 Dec 2023. They have to take it whether or not they need it, as per the original funding agreement

 

[Boab]

Yes, hot off the press.

“The proceeds raised from the capital call will be used to accelerate our innovation of the groundbreaking Akida technology as we extend our industry leadership in Edge AI. In 2023 the company will tape out another chip and release significant enhancements to our IP offering”, said BrainChip CEO Sean Hehir. Mr. Hehir went on to say “Additionally, we will further expand our go-to-market capabilities by hiring sales personnel in key international markets, as well as increase our domestic sales and marketing headcount.”

I like this wording, but still have Sean's comments about covering all employee costs by end of 2022 with sales! Is it just me or has Sean not being doing many interviews lately?


AKIDA Ballista

He must have heard you. Podcast out tomorrow.

 

[TECH]

So this article has made me think again about the potential behemoth that BRN could become. Let's say that the only use case for AKIDA was agricultural applications - weeding, fertilising, recognising sick animals etc. If adopted worldwide (and why wouldn't it be if it's the best and cheapest option out there) then this one industry alone could turn BRN into a multi billion dollar company.

Knowing what we do about possible penetration into multiple and diverse industries, plus our up to 3 year lead on competing technologies, how big can BRN actually get and what does the SP look like when this is a mature company, say 5 to 10 years from now?

HUGE

Read Sean's words very carefully, "significant enhancements to our IP offering"

All of 2023 and All of 2024

Texta x

 

[FJ-215]

Would that be the same Accenture that is a member of the Intel Neuromorphic Research Community?



Spoiler Alert...

The Intel Neuromorphic Research Community (Intel NRC)

 

[Fact Finder]

This Podcast has Sean Hehir leading the discussion:

"This is our Mission" podcast. He joins BrainChip CEO Sean Hehir to help listeners understand how data-driven AI will help businesses gain insight into their business process and affect positive outcomes. The podcast will be available Wednesday, January 11 at 3 p.m. PST on BrainChip's website and across popular podcast platforms.

Accenture is a global leader in leveraging Applied Intelligence to help organizations make smarter decisions faster and enabling growth at scale from edge to cloud. Chatelain leads a team of designers, engineers and data scientists developing the Applied Intelligence Platform (AIP+), Accenture's flagship intelligence service. AIP+ allows clients to leverage trusted data to discover actionable insights, better understand their business processes and achieve business objectives faster.
As CTO, Chatelain serves as a trusted advisor to Accenture clients, applying the best technology to fulfill business needs while supporting growth through innovation.

"Jean-Luc, with his vast experience, provides great insight into pragmatic AI solutions that businesses value as transformative assets," said Hehir. "I strongly agree with his prediction on the potential for neuromorphic technology, which is the basis of BrainChip's Akida products, in helping the industry fully realize the benefits of AI."

In my opinion could be a significant Podcast.

My opinion only DYOR
FF

AKIDA BALLISTA

 

[Bravo]

It may be lumpy guidance.

listen to the portion starting from 1:28:45 sec and tell me what you hear Todd is saying about Apple and Qualcomm…help me interpret his message…are they integrating our Akida engine?

Hi @Beebo, I believe what Todd is saying is something along these lines; that unlike BrainChip who are using an older manufacture tech (TSMC 28 nanometer), other companies like Apple and Qualcomm are building their next-gen SOC lower using lower technology (i.e. 5 nanometer or even 3 nanometer). He then goes on to say that by taking "our engine" and integrating into these lower technologies, you're going to be able to achieve "X" percentage lower power and higher compute. But since it's a new tech and disruptive, we have to prove it out before people will use it.

 

[FJ-215]

Media Alert: BrainChip Talks AI Innovation with Accenture's Managing Director and Global Chief Technology Officer, Applied Intelligence Jean-Luc Chatelain

Sean sitting in for Rob on this podcast.

Very interesting

 

[ndefries]

No, brn are obliged to draw on $15 mil before 31 Dec 2023. They have to take it whether or not they need it, as per the original funding agreement

Exactly right. This has to happen and the CFO has been good at timing these to date with positive news. Just picked up another 10K based on the unneccessary drop.

 

[Quatrojos]

The capital call seems to reflect the overall economic headwinds mentioned by SH in the last quarterly...

 

[Papacass]

I’m not the smartest tool in the shed but does today’s announcement imply that the IP for Akida 2000 is up and running? I thought it most likely was by this time but if tape out is happening (I assume for Akida 2000 reference chips for customers) the Akida 2000 secret sauce is cooked. Great news! Onward.