BRN Discussion Ongoing

[manny100]

A very good find Manny. Look at the dates pre Sean era. We signed two licences megachips and Renasas, pre Sean era. Megachips extend support by signing a full licence as well.
But is the end result no furthur growth in Sean era.
Why ???

Some of these old engagements should start coming out this year. Not saying NASA will though - not sure.
I have recently confirmed that we still retain commercial ties with the marquee clients as described on the Why Invest section of the website.
Nothing else of course was divulged.

 

[rgupta]

Some of these old engagements should start coming out this year. Not saying NASA will though - not sure.
I have recently confirmed that we still retain commercial ties with the marquee clients as described on the Why Invest section of the website.
Nothing else of course was divulged.

Manny I never have a doubt about technology but I have all the doubt about present management.
Even as per Sean's own words judge me on results and three and half years is a long time to judge someone.
So yes results are starting coming out and it does not look like Sean had done enough here.Final verdict will be out by AGM but if he cannot show his performance by then I fear he is over now.
We got two strikes since he is incharge, we are selling on market for more than 20 months now, we have nothing big achievement than frontgrade, SBIR contract is another one but there are clouds on that with missing unknown defence contractor.
So talking about redomicile is another mismanagement from him and his team.
So yes crucial times for many.
Let us wait and watch!!!!

 

[Chris B]

I think if you Research all the Customer’s that Renesas and Megachips historically supply ASIC, MCU'S, MPU , SOC and other products. There are many many huge companies and I wouldn't think Brainchip would bother trying to sell IP to Customer’s already being supplied by Renesas and Megachips. The time line is looking good for Revenue soon. Don't underestimate the huge client list of these 2 companies. Just my opinion DYOR

 

[manny100]

Manny I never have a doubt about technology but I have all the doubt about present management.
Even as per Sean's own words judge me on results and three and half years is a long time to judge someone.
So yes results are starting coming out and it does not look like Sean had done enough here.Final verdict will be out by AGM but if he cannot show his performance by then I fear he is over now.
We got two strikes since he is incharge, we are selling on market for more than 20 months now, we have nothing big achievement than frontgrade, SBIR contract is another one but there are clouds on that with missing unknown defence contractor.
So talking about redomicile is another mismanagement from him and his team.
So yes crucial times for many.
Let us wait and watch!!!!

There is no chance that Sean or the BOD can be removed by vote at the AGM at the coming meeting.
The prior two years saw a 25% strike vote.
As a result of last years 2nd consecutive strike a vote was held to call for a BOD spill. This was unsuccessful.
So for another vote to spill the board there would need to be a 25% strike vote at the coming meeting followed by another strike at the 2026 AGM. Then a vote would be held in relation to a BOD spill.
Bottom line is that no BOD spill can happen at the coming AGM.
It is possible that a 25% strike against remuneration might occur at this meeting but realised remuneration of Key Management Personnel (KPM) decreased significantly in 2024 compared to 2023.
2023 KPM realised remuneration $8,120,967 see page 22 of the Annual Report
2024 KPM realised remuneration $4,404,643 see page 33 of the Annual Report
2023 was the year KMP were incentivized via equity.
Given client news since Sept'24 i think the BOD would be confident it will continue.
At the last AGM Tony V said once we start to get a few across the line it will give others confidence.
We have Frontgrade, Onsor, QV cybersecurity and Ai Labs (Oil Rigs) on Board. Also US AFRL, Bascom Hunter Navy Transition are on board.
Should be more to follow.
If insufficient clients come on board this year like any company KMPs will seriously be reviewed.

Two strikes and investor behaviour | Guerdon Associates

www.guerdonassociates.com

 

[TopCat]

I have insider information to share.
From deep inside where gut feelings live.
A move to the US will entail a share restructure plan, and an equity investment from a household name.

Yep. You heard it here first.

Maybe the “household name” company is ready to buy the millions of cheap shares the superannuation funds will have to dump into the market if we move from the asx

 

[rgupta]

I really donot know what is the strategy here with current management but matter of fact revenue and news it the real oxygen for start ups while the current management kept it very very low. On top of that we are selling on market for last 20 months which only favours shorters than holders.
And this last move of management to redomicile without a plan is really hitting the sp hard. But as always there is no consideration is held for long term holders.
It is a real pity present management have no clue in running publically floated companies. They may have good technology knowledge but their knowledge about making a big company and running a start up needs a lot.
We had two strikes in last 2 years and a third looks imminent but they have no clue what the holders are looking forward to. They are only concerned about their remunerations and life style. Just like LJD told us they want 3 times the share because sp is lower than last time which is a total greed than anything.
It is upto to holders to keep on getting sweet lollies from their talks or start asking serious questions from this management.
To me the whole experiment may or may not yield results but with the unnecessary talk of redomicile the management is challenging the patience of long term holders in a big way.

 

[rgupta]

My top concerns on redomicile are
1. How much trust we can have in this management who cannot find a better alternative to LDA deal in last 40 months.
2. What is the benefit of redomicile to holders and that too without an ADR on asx.
3. Currency conversion with retail investors can cost us 3-7% for conversion charges only with retail funds like cnc, ig, commsec etc.
4. A lot of holders may have to sell their shares in shares in retail super funds as they may not support that move. That will mean a lot of loss for those holders plus an extra pressure on the sp. We all know how bad it becomes when we are out of asx200.
5. There is no reason or strategy shared with the market. The move is putting a lot of pressure on sp. We are on sale since March 7 and that will mean we may end up getting way less money from sell down which otherwise can be more. But the management does not have any regard for holders
6. On the last CR Sean lied to us that the shares will be sold to institutional investors while the same was given to shorters
7. Management told us they will keep us informed about remuneration and updates on quarterly but the same is no more than a time pass.
8. Many of the present holders may not like to invest in overseas companies because a limited information can be made available from overseas companies. On top US exchanges work while we are sleeping. If there is some sort of bad or good activity there we as retail holders cannot take any quick action to save our investment and how much we can believe on present management have a lot to be desired.
9. As a worst scenario the management looks very rude and unconcerned about present holders.
So to me without a proper plan this management is losing confidence of holders. Yes it will be a difficult tasks but may be a necessary exercise.
Dyor

 

[rgupta]

There is no chance that Sean or the BOD can be removed by vote at the AGM at the coming meeting.
The prior two years saw a 25% strike vote.
As a result of last years 2nd consecutive strike a vote was held to call for a BOD spill. This was unsuccessful.
So for another vote to spill the board there would need to be a 25% strike vote at the coming meeting followed by another strike at the 2026 AGM. Then a vote would be held in relation to a BOD spill.
Bottom line is that no BOD spill can happen at the coming AGM.
It is possible that a 25% strike against remuneration might occur at this meeting but realised remuneration of Key Management Personnel (KPM) decreased significantly in 2024 compared to 2023.
2023 KPM realised remuneration $8,120,967 see page 22 of the Annual Report
2024 KPM realised remuneration $4,404,643 see page 33 of the Annual Report
2023 was the year KMP were incentivized via equity.
Given client news since Sept'24 i think the BOD would be confident it will continue.
At the last AGM Tony V said once we start to get a few across the line it will give others confidence.
We have Frontgrade, Onsor, QV cybersecurity and Ai Labs (Oil Rigs) on Board. Also US AFRL, Bascom Hunter Navy Transition are on board.
Should be more to follow.
If insufficient clients come on board this year like any company KMPs will seriously be reviewed.

Two strikes and investor behaviour | Guerdon Associates

www.guerdonassociates.com

Manny a strike is when 25% votes go against the management remuneration report, but what will happen happen if the same is more than 50% and this time 50% looks really on table. I donot too much but
may be more than 50% is a spill vote on 1st instance as well.
Regarding the deals they are part of the game, market needs the technology and they will take it with or without the present management.
As a holder they are supposed to work in best interest of company and their strategy does not look like taking us in the right direction.
If we just want to move to US just because of Trump times then lin last 2 months markets shrinks 10% because of Trump factor and there is more on table. Just changing strategy because of political reasons and that too in early part of a change is not a desirable action we should
take abruptly.

 

[TheDon]

I am very confident with our CEO Sean and BOD 5 year plan. On the 5th year I believe that's when we see millions of revenue. So I have given this company 5 years from when Sean started. On the 6th year, that's when everyone become filthy rich.

MY OPINION ONLY
Dyor

TheDon.

 

[7für7]

I am very confident with our CEO Sean and BOD 5 year plan. On the 5th year I believe that's when we see millions of revenue. So I have given this company 5 years from when Sean started. On the 6th year, that's when everyone become filthy rich.

MY OPINION ONLY
Dyor

TheDon.

Me too… me too… I’m also very confined with you Sean…

 

[DingoBorat]

Manny a strike is when 25% votes go against the management remuneration report, but what will happen happen if the same is more than 50% and this time 50% looks really on table. I donot too much but
may be more than 50% is a spill vote on 1st instance as well.
Regarding the deals they are part of the game, market needs the technology and they will take it with or without the present management.
As a holder they are supposed to work in best interest of company and their strategy does not look like taking us in the right direction.
If we just want to move to US just because of Trump times then lin last 2 months markets shrinks 10% because of Trump factor and there is more on table. Just changing strategy because of political reasons and that too in early part of a change is not a desirable action we should
take abruptly.

"As a holder they are supposed to work in best interest of company and their strategy does not look like taking us in the right direction.
If we just want to move to US just because of Trump times then in last 2 months markets shrinks 10% because of Trump factor and there is more on table. Just changing strategy because of political reasons and that too in early part of a change is not a desirable action we should take abruptly"

I guess these Companies/Countries, which have invested almost 3 Trillion US dollars in the US economy, in just the last 2 months, acted too quickly for just "political reasons" Rgupta?

https://www.streetinsider.com/dr/news.php?id=24538801&gfv=1

•UAE - $1.4 trillion
•Saudi Arabia - $600 billion
•Apple (NASDAQ: AAPL) - $500 billion
•NVIDIA - $100 billion
•Softbank/OpenAi/Oracle (as part of Stargate) - $100 billion
•Taiwan Semiconductor - $100 billion
•Johnson & Johnson - $55 billion
•Eli Lilly (NYSE: LLY) - $27 billion
•CMA CGM Group - $20 billion
•Merck (NYSE: MRK) - $1 billion
•GE Aerospace - $1 billion

Maybe you should let those Companies management know, that they have acted too rashly?..

The US is by a long way, the largest Economy in the World.
China is 2nd, with 2 thirds the size and Germany comes in a distant 3rd place, at 1 sixth the size, of the US economy.

The committed investment in the US economy (so far) is more than half of the entire German GDP!

You need to go where the Money is, unless you want to try China..

But maybe those other Companies, are just plain wrong ..


I believe we will get sufficient action here, before going in and we will need to, for any kind of a vote on that to succeed.

The prospect of us succeeding in the way we all want to will take a lot longer if the above 2 things don't occur (traction and redomiciliation).

 

[Getupthere]

Don’t waste your time discussing the move to the US market.

This clearly appears to be a tactic employed by management to divert shareholders’ attention from the genuine issues that preceded the AGM.

 

[Labsy]

I'm hopeful there is some revenue trickling in now... Let's just see how we go next couple months guys...
I emailed management just to offer a little support as I feel they need it. I have mega bux invested in this company. If some of you want to flog the horse and that's how you feel you will get performance than so be it and I can't tell you otherwise. I've always found kind words of support works best... But that's just me.
Let's go chippers!

 

[Food4 thought]

I'm hopeful there is some revenue trickling in now... Let's just see how we go next couple months guys...
I emailed management just to offer a little support as I feel they need it. I have mega bux invested in this company. If some of you want to flog the horse and that's how you feel you will get performance than so be it and I can't tell you otherwise. I've always found kind words of support works best... But that's just me.
Let's go chippers!

Same same

 

[CHIPS]

This is a BrainChip Forum! Please do not post this here.

 

[rgupta]

"As a holder they are supposed to work in best interest of company and their strategy does not look like taking us in the right direction.
If we just want to move to US just because of Trump times then in last 2 months markets shrinks 10% because of Trump factor and there is more on table. Just changing strategy because of political reasons and that too in early part of a change is not a desirable action we should take abruptly"

I guess these Companies/Countries, which have invested almost 3 Trillion US dollars in the US economy, in just the last 2 months, acted too quickly for just "political reasons" Rgupta?

https://www.streetinsider.com/dr/news.php?id=24538801&gfv=1

•UAE - $1.4 trillion
•Saudi Arabia - $600 billion
•Apple (NASDAQ: AAPL) - $500 billion
•NVIDIA - $100 billion
•Softbank/OpenAi/Oracle (as part of Stargate) - $100 billion
•Taiwan Semiconductor - $100 billion
•Johnson & Johnson - $55 billion
•Eli Lilly (NYSE: LLY) - $27 billion
•CMA CGM Group - $20 billion
•Merck (NYSE: MRK) - $1 billion
•GE Aerospace - $1 billion

Maybe you should let those Companies management know, that they have acted too rashly?..

The US is by a long way, the largest Economy in the World.
China is 2nd, with 2 thirds the size and Germany comes in a distant 3rd place, at 1 sixth the size, of the US economy.

The committed investment in the US economy (so far) is more than half of the entire German GDP!

You need to go where the Money is, unless you want to try China..

But maybe those other Companies, are just plain wrong ..


I believe we will get sufficient action here, before going in and we will need to, for any kind of a vote on that to succeed.

The prospect of us succeeding in the way we all want to will take a lot longer if the above 2 things don't occur (traction and redomiciliation).

Yes they all committed, a few of them are going to be direct beneficiary and others will try to negotiate a deal. e.g Apple already a US company, ely lily again a US company, TSMC commitment to 100 billion is pre Trump era, but yes softbank committed 100 billion, saudi arabia another 600 billion, let us wait and see which sectors and how they are going to invest.
Regarding brainchip I will still say it is too early as a start up. All those investors are established investors while we are finding difficult to make a deal something better than LDA deal, happens to be 5 years ago.
So yes no comparison with those investors.
On top US is worth 35 trillion dollars of economy and 3 trillion commitment is not very big but yes it may be a good enough to appease Trump.

 

[7für7]

Let’s go brainchip! But I have the feeling someone or something is blocking our success!

 

[Getupthere]

This is a BrainChip Forum! Please do not post this here.

I have not invested in Weebit.
This is another example of how much better Weebit is managed than Braincip.

 

[Dougie54]

It is time again not to look at the SP for a while ...

Been getting told this for years,like many others patience gets thin when we read so much hype about potential but no firm meaty news out of our company to start to build some investor confidence.come on team just one contract with the lot would be a start!!

 

[7für7]

I think they will drop an big announcement soon