View Full Version : Brn - brainchip holdings
This interview is two months old, but I haven’t been following Brainchip news closely lately so it was new for me.
https://www.youtube.com/watch?v=-U28yKbTVP4
(https://www.youtube.com/watch?v=-U28yKbTVP4)
Executive Series 25 May 22: Brainchip Holdings (BRN) CEO, Sean Hehir
2 min CEO Sean Hehir “The technology is transformative. It can do things nothing else can do. The thing about neuromorphic, the thing that caught my attention, is to get more output for the same amount of input. Which is really transformative, that is what we are really looking for in everything in life.”
6 min – Interviewer “You have got an extraordinary capitalization, just over $2bn, but the revenue, profitability, when is that taking place in your thinking.”
Hehir “I was asked do I think the market cap is fair. I think it is not even close to being topped out. The reason I say that is the market is very, very big, so we have got a lot of room to grow. So I think the market cap is not even close to what it can and should be over time.
We’ve established six very important partnerships. We are going to establish more and make them deeper to drive a lot of value. (6 partnerships = ARM, RENESAS, PROPHESEE, MEGACHIPS, VALEO and SIFIVE)
We’ve spent a lot of energy cleaning up our marketing message, a whole new brand.
At AGM in May I talked about activity. Activity is great. I look forward to next year and talk about results. I am here to build a large sustainable multi-national company. This industry is still young. I’ve been in technology long enough (30 years) to know that leaders will emerge and become the defacto standard. I want this company to be the defacto standard for edge AI for the entire world. So that means dominant market share, ecosystem partners building around us. That is a pretty lofty goal but I think we can get there. What we have is unique. We worked really, really hard on our patent portfolio. That’s a critical lynch pin.”
Closed today at $1.025, down 6c on $16.7m
https://stocknessmonster.com/announcements/brn.asx-2A1388084/
(https://stocknessmonster.com/announcements/brn.asx-2A1388084/)
Top 20 Shareholder Report out today. Founder Peter van der Made is no longer the top holder. He still has 9.120% (9.351% on the previous announcement on 04/02/22.)
Biggest holder is now CITICORP NOMINEES PTY LIMITED with 10.028%.
BNP PARIBAS NOMINEES PTY LTD ACF CLEARSTREAM - 4.330% (previously 3.757%.) Clearstream holds the shares that trade in Germany and Europe. Lots of interest in Brainchip in Germany. So these shares are no longer trading on the ASX.
LDA CAPITAL LIMITED not on the list, they had 0.583% previously.
Link to the last Top 20 Shareholder report on 04/02/22 below.
https://stocknessmonster.com/announcements/brn.asx-2A1352918/I was wondering who holds some of the shares that trade in the US and some are held by CITICORP NOMINEES PTY LIMITED - 172,420,369 10.028%. One of the largest holdings in that account now is the ADR account held by Bank of NY Mellon with nearly 24M shares in it. Clearstream holds 74m shares. So at least 100m shares trading on markets other than ASX = 5.8%. Total Securities: 1,719,362,144.
HALF-YEAR FINANCIAL REPORT to 30 June 2022 out today and looking good with revenue of $4.8m, which is a pleasant surprise.
Quarterly reports are reported as cash received, while the half yearly reports revenue as accrued income i.e. it has been invoiced, and the cash which has not been received appears in the balance sheet as receivables.
March Quarter Cash Receipts from customers were US$0.2M
June Quarter Cash Receipts from customers for the quarter were US$1.2M.
So cash receipts for half year = $1.4m, but revenue (including receivables) is $4.8m.
https://stocknessmonster.com/announcements/brn.asx-2A1392787/
HALF-YEAR FINANCIAL REPORT to 30 June 2022
Revenues for the half-year ended 30 June 2022 of $4,831,081 increased 529% from $767,545 in the same period a year ago. The increase in revenue is a result of the partnership with MegaChips and predominantly comprised licensing revenues of Akida 1000 recognised in the current period.
Receipts from customers 1,434,653 1,314,862
Trade receivables 2,503,670 98,136
Research tax credits 1,033,137 774,830
Other receivables 13,570 36,439
Total 3,550,377 909,405
Cash receipts $1,434,653 plus Total Receivables $3,550,377 = $4,985,030 which is close enough to $4.8m revenue.
Most of the revenue is from IP = license fees not chip sales.
REVENUE FROM CONTRACTS WITH CUSTOMERS
………………………………………………….............…..30 June 2022 ….30 June 2021
………………………………………………………................…..US$ …………..US$
(a) Types of goods or service
Product revenue ……………………………….....…........218,575 …………..52,005
License revenue……………………………….....…....…4,049,889 ….……..412,500
Development service revenue ……………........…..562,617 ………...303,040
Total revenue from contracts with customers 4,831,081 ……….767,545
Quarterly report out and a disappointing result.
“Receipts from customers for the quarter were US$0.1M, a decrease of US$1.1M from Q2-22.
However, the current global technology market has created economic dynamics that have extended evaluations, decreased budgets, and delayed introduction of new technology. These conditions have created a headwind for our prospective and current customers. We anticipate these conditions to eventually calm. We remain positive on future market penetration and broad adoption of Brainchip’s technology.”
Appendix 4C and Quarterly Activities Report https://stocknessmonster.com/announcements/brn.asx-2A1409129/
(https://stocknessmonster.com/announcements/brn.asx-2A1409129/)
Top 20 Shareholders - https://stocknessmonster.com/announcements/brn.asx-2A1409132/
The revenue of $4.8m reported in the half yearly report consists mainly of licence fee payments by MegaChips with payment terms that go through to December 2023, so none of this revenue showed in the latest quarterly. There are also some R&D incentives and some are expected in the December quarter or March 2023 quarter. These show as trade receivables and research tax credits.
On Friday after the disappointing Quarterly report the share price fell to 67c, down 18c, 21.2% on $31m.
The sp has been drifting lower since September so some investors were aware that the global macro conditions could negatively impact the revenue.
With the sp fall BRN will no longer be in the ASX200 so this will push the price lower, as there is more selling. Some of the bigger investors believe that because BRN has no revenue the sp is overvalued and BRN should not be in the ASX200.
Those investors who focus on the potential and understand how transformative and disruptive BRN technology will be don’t think it is overvalued.
Several Motley Fool articles recently with a negative slant.
https://www.fool.com.au/2022/10/17/warning-brainchip-shares-are-being-targeted-by-short-sellers/
Warning: BrainChip shares are being targeted by short sellers
Short sellers have their eyes and money on BrainChip shares…
On 17th October the shares were down to 87 cents.
This means that since the back end of July, the company’s shares have dropped over 31% from $1.27.
Data showed that short sellers had a rather ominous and devilish interest of 6.66%. That’s the equivalent of 116.4 million shares.
https://www.fool.com.au/2022/11/01/why-did-the-brainchip-share-price-lose-a-quarter-of-its-value-in-october/
Why did the BrainChip share price lose a quarter of its value in October?
This meme stock was sold off in October… The majority of the weakness in the BrainChip share price came at the end of the month after the company released its quarterly update (https://www.fool.com.au/2022/10/28/brainchip-share-price-crashes-13-on-disastrous-q3-update/).
https://www.fool.com.au/2022/11/02/why-did-the-brainchip-share-price-pop-then-drop-today/
Why did the BrainChip share price pop then drop today?
The BrainChip share price finished the session on Wednesday back where it started at 65.5c. The tech share had a turbulent morning with a spike and fall in the share price shortly after open.
BrainChip issues 7.5 million new shares for employees. The share issue follows a horror month for the BrainChip share price.
https://stocktrack.com.au/asx/brn/meme-stocks-miners-top-charts-for-397087
Meme Stocks,miners top charts for Millennial buys.
A news article has been posted about Brainchip on the AFR. The article was published around 6 months ago, on 22 April 2022 at 5:55pm.
BrainChip was the most popular stock holding this year so far among customers of investing app Sharesies, edging out a string of lithium miners and blue chip ASX mainstays BHP and Rio Tinto.
Brainchip as a short 7th on the list of top stock picks.
https://www.livewiremarkets.com/wires/calcutta-2023-australia-s-brightest-investors-name-17-top-stocks-for-the-year-ahead
(https://www.livewiremarkets.com/wires/calcutta-2023-australia-s-brightest-investors-name-17-top-stocks-for-the-year-ahead)
21st Oct, 22. Calcutta 2023: Australia's brightest investors name 17 top stocks for the year ahead
Top stock picks from the country's best fund managers for the next year.
1. Block Inc (ASX: SQ2)
2. Tabcorp (ASX: TAH)
3. Paladin Energy (ASX: PDN)
4. Virgin Money UK (ASX: VUK)
5. Webjet (ASX: WEB)
6. Janus Henderson Group (ASX: JHG)
7. (Short) Brainchip Holdings (ASX: BRN)
I have sold most of my BRN shares. The chart is looking very bearish and the indicators are ugly. I regarded myself as a long-term holder having brought my first shares in 2016. Several times over those years I’ve seen how the sp gets pushed up and down to extremes, and I see that happening now. I believe the price will get pushed down to about 35c to 55c because of shorting, global macro factors, inflation, supply chain issues including manufacturers shutting down because of covid, global chip shortage, the chip war between the US and China etc.
I still love BRN and I will buy back in, hopefully at the bottom, but I’ve sold most in the last 3 days and taken profits. It will be a year or two before BRN has meaningful revenue, because the sales cycle is long about 12 – 24 months because evaluation is complex.
Mon closed at 64.5c down 2.5c on $14m. Tues closed at 65c on $9m. Wed/today 65c on $5m. I can see the bots pushing up the sp to 65c so the smart money can sell, and since I’m smart I also sold.
RupertBear
03-11-2022, 01:24 PM
I have sold most of my BRN shares. The chart is looking very bearish and the indicators are ugly. I regarded myself as a long-term holder having brought my first shares in 2016. Several times over those years I’ve seen how the sp gets pushed up and down to extremes, and I see that happening now. I believe the price will get pushed down to about 35c to 55c because of shorting, global macro factors, inflation, supply chain issues including manufacturers shutting down because of covid, global chip shortage, the chip war between the US and China etc.
I still love BRN and I will buy back in, hopefully at the bottom, but I’ve sold most in the last 3 days and taken profits. It will be a year or two before BRN has meaningful revenue, because the sales cycle is long about 12 – 24 months because it is complex.
Mon closed at 64.5c down 2.5c on $14m. Tues closed at 65c on $9m. Wed/today 65c on $5m. I can see the bots pushing up the sp to 65c so the smart money can sell, and since I’m smart I also sold.
Thanks for all your helpful posts Moka and sharing that you have recently sold down, much appreciated :)
Aotea
03-11-2022, 05:28 PM
I have sold most of my BRN shares. The chart is looking very bearish and the indicators are ugly. I regarded myself as a long-term holder having brought my first shares in 2016. Several times over those years I’ve seen how the sp gets pushed up and down to extremes, and I see that happening now. I believe the price will get pushed down to about 35c to 55c because of shorting, global macro factors, inflation, supply chain issues including manufacturers shutting down because of covid, global chip shortage, the chip war between the US and China etc.
I still love BRN and I will buy back in, hopefully at the bottom, but I’ve sold most in the last 3 days and taken profits. It will be a year or two before BRN has meaningful revenue, because the sales cycle is long about 12 – 24 months because it is complex.
Mon closed at 64.5c down 2.5c on $14m. Tues closed at 65c on $9m. Wed/today 65c on $5m. I can see the bots pushing up the sp to 65c so the smart money can sell, and since I’m smart I also sold.
Hi moka
Hard not to agree with you. If i wasnt free carried i would consider selling down too. If i sell, a takeover offer will be submitted the following week so holding tight and eternally hopeful.
Appreciate your input. Good luck..
Hi moka
Hard not to agree with you. If i wasnt free carried i would consider selling down too. If i sell, a takeover offer will be submitted the following week so holding tight and eternally hopeful.
Appreciate your input. Good luck..Interesting what you say about a takeover offer. That happened to me with Diligent. I sold a large parcel on a Friday because I was going to be clever and do some trading, and on the following Monday there was a takeover offer. I will continue to have input because I do want to get back in again. I have been reading the Australian forums the last few days and comments on TSE ignite my excitement for BRN again. Not so much with HC. I hadn't been reading them for a while.
Closed at 62.5c down 2.5c today on $5.58m. High 65c, low 62.5c so a tight range. Those who are more knowledgeable than me say 64c was a key support level and it has broken thru that today. I did watch the market a bit and the sellers are not desperate to sell yet. I watch on Stockness Monster which is delayed 20 minutes but shows every trade, as well as on ASB. Most of the big trades seem to happen at the end of day so professionals rather than retail. https://stocknessmonster.com/quotes/brn.asx/
(https://stocknessmonster.com/quotes/brn.asx/)
Beauty or value is in the eye of the beholder. Brainchip paid for coverage and valuation and in the US it is worth US$0.75 about A$1.17, based on assuming rapid growth over the next two years. I think that is closer, but don’t fight the market, so I sold.
https://finance.yahoo.com/news/brchf-first-mover-market-153000998.html
(https://finance.yahoo.com/news/brchf-first-mover-market-153000998.html)
BRCHF: A First Mover in a New Market.
We are initiating coverage of BrainChip Holdings (OTC:BRCHF) with a valuation of $0.75 per share.
BrainChip is the only commercially available IP in this market today. BrainChip is the first company to offer a commercial neuromorphic processor and the associated IP to the market.
Our valuation is principally based on a combination of investments made in emerging semiconductor technologies, ARM Holdings and our assumptions for rapid growth over the next 2 years for BrainChip. Based on this work we arrived at a valuation of $0.75 per share.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year.
Thanks for all your helpful posts Moka and sharing that you have recently sold down, much appreciated :)It was a hard decision for me to sell. If I was still working, I would not have sold, but I am retired now and NZ Superannuation is my only income, so when I need a new washing machine I have to dip into savings/sell shares. I did the sums and if the price was 80c and it falls to 40c I am down 50% and I have to wait for it to get back to 80c, hoping I don’t have to sell. But if I sell and buy back at 40c then I will be up 100% when it gets to 80c. Everyone’s situation is different.
RupertBear
04-11-2022, 10:51 AM
It was a hard decision for me to sell. If I was still working, I would not have sold, but I am retired now and NZ Superannuation is my only income, so when I need a new washing machine I have to dip into savings/sell shares. I did the sums and if the price was 80c and it falls to 40c I am down 50% and I have to wait for it to get back to 80c, hoping I don’t have to sell. But if I sell and buy back at 40c then I will be up 100% when it gets to 80c. Everyone’s situation is different.
Sounds like a sensible move Moka and you will probably sleep better at night knowing you have some cash up your sleeve. I have also sold out recently, too much uncertainty and no glaring reason I could see for it to go back up. I hadnt thought of the possibility of a take over though.
Out of interest which Australian Forums do you follow. I am only familiar with HC.
Sounds like a sensible move Moka and you will probably sleep better at night knowing you have some cash up your sleeve. I have also sold out recently, too much uncertainty and no glaring reason I could see for it to go back up. I hadnt thought of the possibility of a take over though.
Out of interest which Australian Forums do you follow. I am only familiar with HC.A lot of passionate long term holders got hassled and moderated on HC so they set up a new forum called the stock exchange. So not many technical articles and comment on HC now you have to go to TSE.
08/06/22 Dropped below $1 today to close at 95c on $10m turnover.
BRN to be added to the S&P/ASX 200 Index – Effective Prior to the Open on June 20, 2022
https://stocknessmonster.com/announcements/brn.asx-2A1377514/ (https://stocknessmonster.com/announcements/brn.asx-2A1377514/) BRN entered ASX200 in June. The sp certainly is volatile with some people making a lot of money from that volatility. The SP made a high of $2.34 on 19 January mainly due to news on 04/01/22 that Mercedes is using Akida chip in its new concept car.
https://www.fool.com.au/2022/01/19/could-brainchip-asx-brn-crack-into-the-asx-200-heres-what-it-takes/
January 19 2022. Could BrainChip (ASX:BRN) crack into the ASX 200? Here’s what it takes.
Following today’s news (of a new patent), shares in the company are up another 18% to $2.20 — giving it a valuation of $3.77 billion.
Lastly, the artificial intelligence company’s market cap is now floating around what would typically be considered ‘institutionally investable’. However, this has only been the case since around November, when ASX investors began ferociously bidding up BrainChip shares. In October 2021, the company’s market cap was closer to $700 million.
Closed at 63.5c today on $8.4m.
Bloomberg video - The Race to Build a Perfect Computer Chip = neuromorphic chips.
Digital activity uses a huge amount of electricity with semiconductors near the limit of their efficiency. Now scientists are racing to perfect new chips that use much less power and handle much more data.
At 25.24 min – “But I would say more than ever there is a chance that in some corner of the world somewhere there is a chip start-up that will be everywhere maybe in the next 10 years.”
Brainchip has the only commercially available neuromorphic chip in the world.
https://www.youtube.com/watch?v=VsUF_CBJq50
23/5/22 Closed at $1.27 today up 10c on $43m. The market liked the press release today that Brainchip Joins Arm AI Partner Program. Brainchip announced today it has been accepted into the Arm® AI Partner Program (https://pr.report/AqnPmgyW), an ecosystem of hardware and software specialists enabling developers to deliver the next generation of AI solutions.
https://finance.yahoo.com/news/brainchip-joins-arm-ai-partner-213000555.html
(https://finance.yahoo.com/news/brainchip-joins-arm-ai-partner-213000555.html)In case you’re not familiar with Arm (https://www.arm.com/), it is a UK-based semiconductor company that designs the components of processors for others to ultimately build.
The company then owns these designs, along with the architecture of their instruction sets, and licenses the IP to other companies, allowing them to build systems that incorporate their own designs as well as Arm’s.
https://www.monexsecurities.com.au/insights/news/au-market-news/why-is-the-brainchip-share-price-racing-8-higher-today/
(https://www.monexsecurities.com.au/insights/news/au-market-news/why-is-the-brainchip-share-price-racing-8-higher-today/)
Arm is one of the biggest names in AI. It is a UK-based semiconductor company that designs the components of processors for others to ultimately build.
Latest podcast. BrainChip discusses the Arm AI Ecosystem and enabling the growth of IoT with Kevin Ryan from Arm.
Kevin says Brainchip with its neuromorphic AI helps solve some very specific use cases in the IoT market.
The Arm AI Partner Program is an ecosystem of hardware and software specialists enabling developers to deliver the next generation of AI solutions.
https://www.youtube.com/watch?v=SJ6SnD7ZOwc
BRN is being shorted. 16th most shorted stock on the ASX. So, that is another reason I expect the sp to drop.
Short positions reported to ASIC on 7 November 2022. 115,142,121 shorts, 1,726,862,144 shares on issue, 12.22 days to cover, $73.12m $ short, 6.668% % short, -0.28% week movement.
'Days to Cover' is based on 1 month average trade volumes.
The data is four trading days behind today's date as reporting isn’t mandatory until 9am (Sydney) three business days (T+3) post trade.
https://www.marketindex.com.au/short-selling
(https://www.marketindex.com.au/short-selling)
The Australian Securities Exchange (ASX) publishes (https://www.asx.com.au/data/shortsell.txt) a list of short sale transactions reported on the most recent trading day.
https://stocktrack.com.au/shorts/
(https://stocktrack.com.au/shorts/)
As you can see from the Shortman chart below the number of shorts increased after it was added to the ASX200 on 20 June 2022. More shares were then available to short from institutions, although a share can be shorted more than once.
https://www.shortman.com.au/stock?q=BRN
(https://www.shortman.com.au/stock?q=BRN)
https://money.stackexchange.com/questions/126685/can-a-single-share-of-stock-be-shorted-multiple-times
(https://money.stackexchange.com/questions/126685/can-a-single-share-of-stock-be-shorted-multiple-times)
A share can be lent and shorted more than once:
If a short-seller borrows shares from one brokerage and sells to another brokerage, the second brokerage could then lend those shares to another short-seller. This results in the same shares counted twice as "shares sold short."
In January 2021 there was a short squeeze of Gamestop when 140% of its public float was sold short.
https://en.wikipedia.org/wiki/GameStop_short_squeeze
(https://en.wikipedia.org/wiki/GameStop_short_squeeze)
In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share ($125 split-adjusted), nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities and cryptocurrencies also increased.
Closed today at 62.5c today down 2c on $3,036,572. Bots busy this afternoon trying to shake out weak hands. Low volumes last week too, but plenty of buyers waiting at 60c and below.
As Peter Lynch put it, the real key to making money in stocks is not to get scared out of them. And he’s right. The best stock investments of all-time required patience and conviction.
Mmmm, interesting, new Chief Marketing Officer leaving Amazon to join some obscure little ASX start-up with no revenue to speak of, and he is excited about it. And he worked for Arm.
https://finance.yahoo.com/news/brainchip-names-former-arm-executive-223000825.html
(https://finance.yahoo.com/news/brainchip-names-former-arm-executive-223000825.html)
Nandan Nayampally hired as Chief Marketing Officer to drive all aspects of marketing, product management and business strategy for the company's AkidaTM event-based AI neural processor IP, and its portfolio of Essential AI enabling technology solutions.
He was at Arm for more than 15 years in a variety of product marketing and product management leadership roles, eventually becoming vice president and general manager of Arm's signature CPU group and the Client Line of Business,
Nayampally comes to BrainChip from Amazon, where he helped accelerate the adoption of Alexa Voice and other multimodal services into third-party devices.
"I am excited to join BrainChip. Our unique approach to performant and efficient edge AI at scale is a great enabler for an industry that is looking for innovative and transformative solutions" said Nayampally. "It is a great opportunity to not only advance product intelligence at the sensor and the edge but unleash the full power of AI. BrainChip is positioned to create that positive change and I'm thrilled to be a part of making that happen."
Closed today at 68.5c on 4,579,268 turnover. The share price has been volatile lately as the shorters play their games. It hit 88c briefly on Jan 05, 2023, and then dropped back last week with a low of 66c.
10 Jan 2023. BrainChip Holdings Announces new Capital Call Notice under continuing agreement with LDA Capital
https://stocknessmonster.com/announcements/brn.asx-2A1424813/
(https://stocknessmonster.com/announcements/brn.asx-2A1424813/)
Company submits notice to sell 30,000,000 shares
The Company is obligated to raise a minimum of $15,000,000 (AUD) during 2023
Available funding under agreement of $27,913,239
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.
“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.”
Brainchip partnering with Intel.
Brainchip announced that it has become a member of the Intel Foundry Services (IFS) ecosystem alliance to help advance innovation on Intel's foundry manufacturing platform.
https://finance.yahoo.com/news/brainchip-joins-intel-foundry-services-223000351.html
(https://finance.yahoo.com/news/brainchip-joins-intel-foundry-services-223000351.html)
December 12, 2022
BrainChip is the latest industry-leading IP partner to join the IFS Accelerator - IP Alliance. Partners in this alliance collaborate with IFS to enable designers to access high-quality IPs, supporting their design needs and project schedule, while optimizing for performance, power and area. Building upon Intel's advanced technology, the IP portfolios of IFS Accelerator include all the essential IP blocks needed for modern Systems-On-Chip (SoC), such as standard cell libraries, embedded memories, general purpose I/Os, analog IP and interface IP.
Integrating AI into the SoC delivers efficient compute and the unique learning and performance requirements of Edge AI. BrainChip's AkidaTM, enables low-latency and ultra-low power AI inference and on-chip learning.
Smart marketing move by Brainchip, partnering with Universities to introduce students to Brainchip's cutting-edge neuromorphic hardware technology.
BrainChip Adds Rochester Institute of Technology to its University AI Accelerator Program
https://finance.yahoo.com/news/brainchip-adds-rochester-institute-technology-223000698.html
(https://finance.yahoo.com/news/brainchip-adds-rochester-institute-technology-223000698.html)
November 23, 2022
Brainchip announced that the Rochester Institute of Technology (RIT) has joined the University AI Accelerator Program to ensure students have the tools and resources needed to encourage development of cutting-edge technologies that will continue to usher in an era of essential AI solutions.
Rochester Institute of Technology (RIT) is a highly accredited technology institute with AI engineering programs that conduct research on fundamental and applied topics in artificial intelligence.
BrainChip's University AI Accelerator Program provides hardware, training and guidance to students at higher education institutions with existing AI engineering programs. Students participating in the program will have access to real-world, event-based technologies offering unparalleled performance and efficiency to advance their learning through graduation and beyond.
RIT joins current participants Arizona State University and Carnegie Mellon University in the first year of the accelerator program.
I once had some of these Braincheck Holdings, but they didn't do much for me .. :)
How are yours working out - Mr Ant .. any positive results yet ?
Quarterly report out today. Closed today at 64c down 1.5c on 12,283,175, $7,854,131, high 67c and low 62.5c. They have been hiring lot of new employees over the past months, so they are expecting growth, but it has not translated yet into revenue.
https://stocknessmonster.com/announcements/brn.asx-2A1427494/
(https://stocknessmonster.com/announcements/brn.asx-2A1427494/)
Appendix 4C & Quarterly Activities Report for the Period Ended 31 December 2022
Cash Balance as of 31 December 2022 US$23.1M
Net operating cash outflows of US$1.9M vs.US$3.8M in the prior quarter.
Cash inflows in Q4-22 included receipts from customers of US$1.2M, an increase of US$1M from Q3-22, and $0.67M of R&D Tax Incentive credits from the Australian and French tax authorities.
Cash inflows from financing activities included $0.5M resulting from the exercise of Long-Term Incentive Plan (“LTIP”) stock options.
BrainChip added two North American and one Korean sales executive towards the tail end of the quarter and has launched formal searches for sales talent in Germany and Japan as we aggressively pursue engagements globally. BrainChip also appointed a new Chief Marketing Officer, Mr Nandan Nayampally, to lead our marketing efforts, and appointed Ms Duy-Loan Le as a Non-Executive Director, to further strengthen the Board’s capabilities and connectivity. Both individuals have extensive semiconductor expertise and industry contacts.
https://stocknessmonster.com/announcements/brn.asx-2A1427498/
Top 20 Shareholders
Brainchip dropped 13.6%, 8c today to close at 51c on 28.9m, with a low of 50c. There was no news to trigger the drop. BRN goes up on no news – went from about 65c to 88c and then back again to the 60s recently on no news, and now down on no news. It dropped 2c yesterday to close at 59c on 10.3m.
It is still heavily shorted, 6.69%. https://www.shortman.com.au/stock?q=BRN
Daily short sells range from about 600k to 2m, and are often about 20% of the turnover, but they are also buying back so 40% of the daily turnover can be short sellers churning the market.
The chart has been in a downtrend for the last year, after spiking to $2.34 on the Mercedes news. So, no surprise to see it drop, but the scale of the drop today was surprising to me. Some people have been saying it will drop to 30c - 50c, but I was expecting a more gradual drop over the next couple of months.
I think this is a tree shake, to shake out the weak holders, and trigger stoplosses. I sold some recently at 65c to have some cash to buy if it dropped to 40c – 50c. I think it is attracting institutional interest now, and institutions like the price to be low when they buy.
https://www.marketindex.com.au/asx/brn
(https://www.marketindex.com.au/asx/brn)
A speeding ticket was issued.
https://stocknessmonster.com/announcements/brn.asx-2A1430789/
Motley Fool article out yesterday, pushing the bear case.
https://www.fool.com.au/2023/02/14/brainchip-shares-the-bull-and-bear-case/
(https://www.fool.com.au/2023/02/14/brainchip-shares-the-bull-and-bear-case/)
BrainChip shares: The bull and bear case
Bull case
Another thing that bulls will highlight is Brainchip’s inclusion in the Arm AI partner program. This is an ecosystem of hardware and software specialists enabling developers to deliver the next generation of AI solutions. Think of it as a Bunnings store and developers can browse the shelves and pick out the bits of technology they want for whatever they’re building.
The company also has a strategic partnership with MegaChips, which is a leading provider of chip solutions. It plans to leverage and licence Brainchip’s Akida intellectual property to provide U.S. customers with applications across a wide variety of applications, such as consumer tech, telecom/network, industrial, and automotive.
Bear case for Brainchip shares
Where do I begin? Brainchip shares are not new to the Australian share market. The company has been around a long time and has a history of releasing hugely promising announcements that ultimately go nowhere.
In fact, given that Brainchip’s technology is out there in the world, it begs the question why a company like IBM would not just acquire Brainchip if it felt that its technology was going to change the game.
In FY 2022, IBM spent US$6.6 billion (A$9.5 billion) on research and development activities. It was also sitting on a cash balance of US$8.8 billion (https://newsroom.ibm.com/2023-01-25-IBM-RELEASES-FOURTH-QUARTER-RESULTS) (A$12.6 billion) at the end of December. This means it could snap up Brainchip many times over and still have plenty of cash leftover. This could be interpreted as a sign that Akida is not seen as a threat in the industry.
Another key part of the bear case is that despite Brainchip shares crashing over the last 12 months, the company still has a $1 billion market capitalisation. That’s also despite the company generating less cash receipts than some city cafes during the last couple of quarters and management stating that it was experiencing the “greatest amount of sales activity and engagement” in its history. Maybe they should open up a café at Brainchip HQ.
Final word
The odds certainly are stacked again Brainchip and its market capitalisation implies huge future sales growth.
Annual Report out Friday
https://stocknessmonster.com/announcements/brn.asx-2A1433201/ Annual Report
The Group made a net loss after income tax for the year ended 31 December 2022 of $22,087,670 (2021: $20,981,309).
Revenues for the year ended 31 December 2022 of $5,071,252 increased 219% from $1,588,483 in 2021.
Total operating expenses for the year ended 31 December 2022 of $27,015,834 increased 27% from $21,234,175 incurred in the year ended 31 December 2021.
Antonio J. Viana Chair
“2022 was a year of commercial expansion with new sales leadership and rapidly expanding geographical coverage. Our sales engagements have never been higher than they are today. Clearly, we expect significant growth in engagements from this point forward. To further support the commercial effort, BrainChip has established and refined a critical ecosystem program for the enablement of BrainChip-based designs. As a technology company looking to become a standard in the AI space, broad ecosystem support is critical for our customers, and it remains a huge area of focus and investment.
However, the global shift to AI as a new standard with a focus on in-device, edge computing will bring increased opportunity for BrainChip. We look to leverage upon this as we position AkidaTM to become an integral part of edge AI solutions.”
Sean F Hehir CEO
“On the commercial front, BrainChip has deepened relationships existing customers and grown the pool of prospective customers being evaluated. The semiconductor design and development processes are long, and selection of design components (IP) takes time. The addition of new sales leadership and expansion of worldwide sales and field engineers has catalyzed sales opportunities and technology evaluations.
Also, Renesas, one of our early licensees, has announced that they are taping out a chip that will be available in 2023 for IoT and edge devices.
Ecosystem integration and partnerships are critical to semiconductor technology integration. Partner development and vertical product integration is a fundamental element of the commercialization strategy presented at last year’s Annual General Meeting.
In this year, we have added key partners including Arm, SiFive, Intel Foundries, Edge Impulse, NVISO and Prophesee, making the selection and integration of AkidaTM easier and standardized.”
https://stocknessmonster.com/announcements/brn.asx-2A1433200/ Appendix 4G and Corporate Governance Statement
https://stocknessmonster.com/announcements/brn.asx-2A1433200/ Appendix 4E
Announcement last Monday 6th March. BrainChip Introduces Second-Generation Akida Platform.
The sp was up 8.5c, 16.7% to 59.5c on that Monday on 28m. Short sales that day were 4.87m, 17%. The sp has drifted lower since then and closed today at 50c, down 2.5c on 11m.
Brainchip is the 8th most shorted stock on the ASX with 126,692,571 shares shorted or 7.170%, so I expect the sp to go lower. Last Monday it was 15th most shorted with 118,815,976 or 6.615%.
https://stocknessmonster.com/announcements/brn.asx-2A1435369/
(https://stocknessmonster.com/announcements/brn.asx-2A1435369/)
• New generation of Akida allows designers and developers to incorporate features that were not possible before
• Adds capabilities that are critically needed in industrial, automotive, digital health,smart home and smart city applications
Sean Hehir, BrainChip CEO said, “Our customers wanted us to enable expanded predictive intelligence, target tracking, object detection, scene segmentation, and advanced vision capabilities. This new generation of Akida allows designers and developers to do things that were not possible before on an Edge device. By inferring and learning from raw sensor data, we take a substantial step toward a cloudless Edge AI experience. With this launch, we have significantly extended our competitive advantage in neuromorphic AI.”
Mr Hehir added, “The development of the second generation of Akida was strongly influenced by our customers’ feedback and driven by our extensive market engagement.We have recently expanded our sales organisation to become truly global and we are focused on executing more IP licence agreements and generating revenue growth overcoming years.
Closed at 40.5c down 1.5c, on 20.5m, high 41.5c, low 35c on Friday, so the trend is still down. 13th most shorted stock on ASX with 128.7m shorted = 7.23%.
Quarterly report to 31 March out - with disappointing revenue of only $40,000.
Capital call notice to LDA Capital Limited - A$12,232,543 was received from LDA Capital upon the issue of 20,756,540 shares.
The recently ended Quarter amplified the execution of the Company’s commercialisation for our AkidaTM neuromorphic IP by adding critical talent in Japan and Germany.
The Company ended the March 2023 Quarter with US$17.7M in cash compared to US$23.1M in the prior quarter. It should be noted that the A$12.2M cash received from LDA Capital will be reflected in the Appendix 4C for the next quarter.
BrainChip reported net operating cash outflows of US$6.3M vs.US$1.9M in the prior quarter.
https://stocknessmonster.com/announcements/brn.asx-2A1446088/
https://stocknessmonster.com/announcements/brn.asx-2A1446119/ Top 20 Holdings
Episode 1 — BrainChip Quarterly Investor Podcast Q1 2023. BrainChip’s CEO Sean Hehir and Director of Global Investor Relations Tony Dawe.
https://www.youtube.com/watch?v=uURpjIhc1l4
(https://www.youtube.com/watch?v=uURpjIhc1l4)
1:16 Aikido 1.0 was and is a world-class leader in terms of its technology leadership however it was very narrowly focused and the focus was the places where good enough solutions exist in the market so to displace them was a significant lift, so we beat them on performance we beat them on power we beat them on e-supportability but existing solutions were there in place.
1:43 what Akida 2.0 does for us is a couple really important things it allows us to address a much larger set of use cases in the market so it's easier to use, bigger use cases, bigger models in places where the competition is not so well entrenched.
3:39 Forbes business Insight recently talked about a 1.2 trillion dollar AIoT Revenue by the year 2030. We're going to address that market
5:01 we expect Akida 2.0 to be fully commercially available by the end of the year
11:02 Can you provide some guidance on when they can expect to see brain chip generating revenues - it's very hard to say when exactly a customer will make a decision… so really I can't give you that forecast
14:37 economic headwinds - there's no question this is a tough economic environment in Tech what we have seen is not a lot of cancellations but more things taking a little bit longer I can give one example where that I know where they have put a project on hold where we actually won the engagement but in the end the board of that company decided not to spend the money to build a chip.
AGM on Tuesday 23rd May. The good, the bad and the ugly. Making progress with commercialisation but generating even enough revenue to cover costs is still to come.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668656-2A1450681?access_token=83ff96335c2d45a094df02a206a 39ff4
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668656-2A1450681?access_token=83ff96335c2d45a094df02a206a 39ff4)
Chairman’s address - the past 12-15 months, the post Covid-era if you will allow me to call it, has been the most challenging for tech in general. More challenging than the dragging years of the mid 90s, the dot-com bust of 2001, and the slowdown of 2007/2008.
Let me be clear, nobody at BrainChip is happy or content with our current position.
We haven’t hit any significant stride yet with respect to revenue. No one is satisfied, and no one should be. However, there is plenty to be positive and optimistic about.
BrainChip has done more in the past 12 months to strengthen its development, market position and talent than it has since its inception.
The trick for many companies comes when the move from technology to product takes place. In the past, BrainChip frankly hasn’t gotten this right. We haven’t had a product that can see its way into end production systems. Additionally, we haven’t had a product that forces the market to move toward us.
The reality is that the market is still in the discovery and embryonic stage with respect to edge-based AI. Unfortunately, Brainchip historically hasn’t executed with respect to an appropriate product mix to accelerate the market.
.. there is work that still needs to be done to make BrainChip a success. I am not ignorant tothe shareholders that have been on board for a long time.
…the trajectory we are currently on is the most promising since BrainChip's inception.
Chief Executive Officer’s Address
…. one of the worst technology economies I have ever seen in my in entire technology career, with virtually all sectors, and specifically the semiconductor sector, seeing a slowing of orders, increased layoffs, and increased tendency for customers to slow down important future technology decisions.
During this interesting period, our company has been on a large transformation from a creator of promising technology to a supplier of enterprise-ready products supported by a robust commercial organization and focus.
We are in the right market and BrainChip’s technology and IP product are positioned to scale with the market opportunity.
… the many partner announcements and amplification of our presence in the market. On the ecosystem front, we solidified our framework of Technology, Enablement, and Integrators. Since our last AGM we added new partners such as Intel Foundry, Prophesee, AI Labs, Edge Impulse, Emotions 3d, and Teksun. These partnerships enhance our ecosystems, allowing our potential customers to have confidence that our technology can be deployed in multiple foundries, workloads are easily ported, and key semiconductor enablers work better with Akida.
We have just completed the tape out of another chip, the Akida 1500, in the MCU-friendly 22nm process technology. We’ve received our first samples and will begin building different demonstration boards and modules for use by our sales prospects immediately. Most importantly, in March of this year, we told the world about our second generations of Akida.
We also now further understand the length and complexity of an AI IP sales cycle; it is long, but we are on paths with several leading prospects. Even during this challenging economic environment, world class companies still innovate to exit the down cycle with solid plans for the future and while engagements are not closing at the pace we desire, it is important to note that we are not losing to others - it’s just taking longer.
…. consistent feedback from virtually all engagements, which was while Akida 1.0 was, and is, at leadership levels of performance and power, the addressable number of uses cases was arguably narrow and targeted in places where existing “good enough” solutions were already in place. We simply were not going to be successful with the Version 1 product. This direct customer feedback is what drove our push to the 2nd generation Akida. At its simplest level, Akida 2.0 now allows BrainChip to address many more industry use cases, which means we can now address many more prospects.
We are in an industry where change is constant, and the pace is accelerating. … AI is becoming the standard compute model and is now mainstream. We are doing the right things; the market is coming, and I am confident that substantial sustainable revenues will occur.
At the AGM 52.57% of shareholders voted against Adoption of Remuneration Report.
· Remuneration Report did not pass and company receives first strike
The two-strike rule. This rule gives shareholders the power to spill the board if they are not happy with the remuneration report. That is, ELIGIBLE shareholders have the power to ‘fire’ or relieve directors of their board positions.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668755-2A1450726?access_token=83ff96335c2d45a094df02a206a 39ff4
BrainChip – Results of Annual General Meeting held on 23 May 2023
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668759-2A1450729?access_token=83ff96335c2d45a094df02a206a 39ff4
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668759-2A1450729?access_token=83ff96335c2d45a094df02a206a 39ff4)
BrainChip Responds to AGM Remuneration Report Resolution Results
• Remuneration Report did not pass and company receives first strike
https://www.youtube.com/watch?v=KLdT9VqYQxQ
(https://www.youtube.com/watch?v=KLdT9VqYQxQ)
CPA Two-Strike Rule - The Australian Corporations Act was amended in 2011 to give shareholders some power over executive remuneration. This is done in terms of the two-strike rule. This rule gives shareholders the power to spill the board if they are not happy with the remuneration report. That is, ELIGIBLE shareholders have the power to ‘fire’ or relieve directors of their board positions.
https://www.asx.com.au/documents/resources/listed-at-asx-winter-18-two-strikes.pdf
There was a pump and dump in the days leading up to the AGM. It happened last year too. And around the quarterly report. The day of the quarterly report Friday 28 April the low was 35c and it closed at 42c. So traders and shorters making lots of money and long term holders seeing their investment drop in price. On 23/5 the day of the AGM there were 2.7m short sales, over 10% of turnover. BRN 16th most shorted stock with 6.76% shorted. On Mar 14th it peaked at 7.75% shorted, so shorts slowly decreasing.
Thursday 18/5 closed at 43c up 2c, 4.9%
Friday 19/5 closed at 47c up 4c, 9.5%
Mon 22/5 closed at 51c up 4c, 8.5%, with a high of 52c
Tues 23 AGM day closed at 42c down 9c, 17.6% on 24.5m turnover
Wed 24/5 closed 40.5, dn 1.5c
Aotea
25-05-2023, 10:50 PM
Am still a believer in the technology just not sure if this team can deliver. Pleased to be free carried but not pleased with what i put my initial capital into...
Am still a believer in the technology just not sure if this team can deliver. Pleased to be free carried but not pleased with what i put my initial capital into...I have held for seven years, and so when they started talking recently about how big the market will be in another seven years in 2030 I was disappointed because years ago they were talking about how big the market would be in 2023. I am retired now so in seven years I may be the richest person on the rest home. At times I feel like selling and just not bothering, but then I would be really annoyed if I wasn’t holding and it really took off. And I think it will have exponential, hockey stick growth but maybe not for another year, or two or three or five. However AI stocks are the hot stocks now thanks to ChatGPT so hopefully it will help the BRN share price. If markets really are forward looking then we should see an improvement in the share price.
https://www.youtube.com/watch?v=JIlkRlDnrX8
ASX Investor - CEO Sean Hehir interview. Understanding Brainchip's Role In The AI Revolution
5:11 we came from promising technology to putting out Enterprise ready product.
18:27 are you hoping to see that Cadence (regular revenue as opposed to lumpy revenue) in the next six to 12 months or are we talking three years, five years, what are you anticipating? I would think it's not that far out (3-5 years) but it's not that far in (6-12 months) somewhere in between them (18 months – 2 years?).
30:00 watch us closely there'll be a lot of interest things happening in the next couple of years
Appendix 4C and Quarterly Activities Report out yesterday. Closed at 36c, down 1.5c on 8.3m. Still heavily shorted = 7.36%. It did drop to 33c on 10 July, and then a pump and dump for the Quarterly report with a high of 39c last week. Good to see receipts from customers of $830,000 for June Quarter.
https://stocknessmonster.com/announcements/brn.asx-2A1462458/ Appendix 4C and Quarterly Activities Report
https://stocknessmonster.com/announcements/brn.asx-2A1462464/ Top 20 Holdings
BrainChip continued to expand its ecosystem partnerships during the quarter by adding Lorser Industries, CVEDIA, Teksun, Blue Ridge Envisioneering, and Quantum Ventura to its growing number of partners that are taking the unique benefits of Akida technology into both, standard products as well as defining cutting edge new solutions. These collaborations along with a growing number of ecosystem partnerships are essential elements of BrainChip’s commercialisation strategy.
The University of Oklahoma joined Arizona State University, Carnegie Mellon University, and the Rochester Institute of Technology in becoming the latest US educational institution to join the BrainChip University AI Accelerator Program. The program is intended to share BrainChip’s technical knowledge and promote leading-edge discoveries and position students to be next-generation technology innovators and potential future Brainchip employees. Interest in our University program remains high, and we are currently reviewing Universities for inclusion from other regions of the world.
The Company ended the June Quarter with US$21.8M in cash compared to US$17.7M in the prior quarter.
BrainChip reported net operating cash outflows of $4.1M vs.$6.3M in the prior quarter.
Cash inflow from customers in the current quarter of $0.83M was higher than the prior quarter (US$0.04M).
Total payments to suppliers and employees of $5.0M in the current quarter was lower than the prior quarter ($6.2M) due to the payment of 2022 bonuses to employees of $0.92M and other corporate costs in Q1.
Cash used for operating activities includes payments to BrainChip’s Board of Directors totaling $276,923 as noted in item 6.1 of the accompanying Appendix 4C, comprising fees for Non- Executive Directors and salaries for Executive Directors.
Cash inflows from financing activities included $8.12M (A$12.2M) received upon the issue of 20,756,540 shares to LDA Capital Limited and LDA Capital LLC (“LDA Capital”) after the completion of the capital call notice that was issued to LDA Capital in January 2023. A further $0.32M of financing cash inflows resulted from the exercise of Long-Term Incentive Plan stock options.
https://finance.yahoo.com/news/brainchip-holdings-asx-brn-good-225649732.html
(https://finance.yahoo.com/news/brainchip-holdings-asx-brn-good-225649732.html)
BrainChip Holdings (ASX:BRN) Is In A Good Position To Deliver On Growth Plans
So it had a cash runway of approximately 20 months from December 2022.
On balance, we think it's mildly positive that BrainChip Holdings trimmed its cash burn by 4.6% over the last twelve months. But the operating revenue growth of 219% was even better. It seems to be growing nicely.
Since it has a market capitalisation of US$448m, BrainChip Holdings' US$14m in cash burn equates to about 3.1% of its market value.
Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.
As you can probably tell by now, we're not too worried about BrainChip Holdings' cash burn. For example, we think its revenue growth suggests that the company is on a good path.
https://simplywall.st/stocks/au/software/asx-brn/brainchip-holdings-shares?blueprint=2600260
(https://simplywall.st/stocks/au/software/asx-brn/brainchip-holdings-shares?blueprint=2600260)
Revenue is forecast to grow 91.38% per year
Currently unprofitable and not forecast to become profitable over the next 3 years
https://simplywall.st/stocks/au/software/asx-brn/brainchip-holdings-shares/future?blueprint=2600260
We currently don't have sufficient analyst coverage to forecast growth and revenue for BrainChip Holdings.
Brainchip has been expanding its ecosystem of partners as per the list below, since CEO Sean Hehir was appointed as CEO on 15 November 2021. Most of them have been press releases rather than Announcements. Some big names there: - ARM, Ford, Intel, Mercedes Benz, NASA.
https://brainchip.com/partners/
(https://brainchip.com/partners/)
https://finance.yahoo.com/quote/BRN.AX/
(https://finance.yahoo.com/quote/BRN.AX/)
Ai Labs
ARM
ANT 61
BIOTOME
BLUE RIDGE ENVISIONEERING
CVEDIA
EDGE IMPULSE
EMOTION 3D
FORD
GLOBAL FOUNDRIES
IPRO
INFORMATION SYSTEM LABORATORIES
INTEL
INTELLISENSE SYSTEMS
LORSER INDUSTRIES
MEGACHIP
MERCEDES BENZ
MOSCHIP
NANOSE
NASA
NUMEN
NVISO
OCULI
PROPHESEE
QUANTUM VENTURA
RENESAS
SALESLINK
SiFIVE
SOCIONEXT
TATA CONSULTING SERVICES
TEKSUN
VALEO
VORAGO
VVDN
Aotea
26-07-2023, 06:00 AM
Am holding and free-carried. So hard to guess the future of brainchip...very frustrating.
nomis
26-07-2023, 08:21 AM
Am holding and free-carried. So hard to guess the future of brainchip...very frustrating.
Hey mate, been following the BRN story (don't hold) since .17c right to its peaks and all the way back down again.
Very difficult to pick its fair value currently, The upside is what keeps me watching.
Might be time to buy a parcel at current levels.
Aotea
26-07-2023, 06:37 PM
Always felt they would either be a $20+ share or bankrupt. I guess a takeover is a credible outcome too.
nomis
27-07-2023, 11:56 AM
Always felt they would either be a $20+ share or bankrupt. I guess a takeover is a credible outcome too.
Based on $20 thats a $35B market cap...
Currently a cheap TO to a bigger player. Tech & Ai industry I struggle to value, ill keep watching.
Brainchip closed at 32.5c on Friday on 4.2m shares.
Half yearly report came out after the ASX closed. The quarterly report in July had receipts from customers of $830,000 for June Quarter, but revenue for half year is only $115,606. The share price fell sharply on overseas markets so likely to be down on the ASX on Monday.
.
https://stocknessmonster.com/announcements/brn.asx-2A1469213/
(https://stocknessmonster.com/announcements/brn.asx-2A1469213/)
Revenues for the half-year ended 30 June 2023 of $115,606 decreased 98% from $4,831,081 in the same period a year ago, reflecting the volatility of revenues in the early years of commercialisation and noting that several active customers elected to defer their evaluation of BrainChip’s technology until after the expected release of Akida 2.0 in August 2023.
Cash from Financing Activities includes $8,210,972 from the issue of shares to LDA Capital and $957,121 from the exercise of options held by BrainChip LTIP participants.
At the end of the half-year had cash and cash equivalents of $21,824,785 (31 December 2022: $23,165,288).
Baa_Baa
26-08-2023, 11:30 PM
Hey mate, been following the BRN story (don't hold) since .17c right to its peaks and all the way back down again.
Very difficult to pick its fair value currently, The upside is what keeps me watching.
Might be time to buy a parcel at current levels.
The results, revenue especially, are a real shock for shareholders. The time between Akida 2.0 release and so called ‘customers’ evaluations completing will deflate the SP further. The problem all along this journey has been the lack of ‘use cases’ and that is still very uncertain.
Half yearly Investor Podcast Part One
https://www.youtube.com/watch?v=MXYaqIEQTVY
(https://www.youtube.com/watch?v=MXYaqIEQTVY)
Aug 18, 2023 Episode 2.1 - BrainChip Board Chair, Antonio J. Viana Addresses Investors in 2-Part Investor Podcast
In Part 1, Viana gave his frank views on such hot-button topics as global reporting and ESG considerations, changes in remuneration and stock compensation since the AGM, execution of the commercialization strategy for the Akida™ platform and the state of the global AI sector and its impact on BrainChip customers. Viana explained why BrainChip’s products could have a “massive global impact” on climate and other ESG concerns simply by performing against its existing commercialization strategy. He outlined the four things that customers look for when they evaluate BrainChip’s products—and why BrainChip’s message resonates.
https://www.youtube.com/watch?v=gRMLIhqX-GU
Aug 24, 2023 Part 2 - covers Viana’s responses about share price, the product roadmap, market prospects, and much more.
Viana was previously a president of ARM Holdings the world's leading technology IP company. He talks about early years of ARM, and emphasizes that it takes time.
ARM got started in 1991. It IPOed in 1999 and it didn't get its first massively material deal until about 1996/97.
2:22 If your IP is difficult to use or integrate even if functionally it works people won't use it.
7:20 We absolutely needed to be honest with the share base and our assessment that you know our 1.0 (model) was not that offering and a more robust roadmap and product offering was needed to support the share price growth moving forward.
8:31 The share price is down because (Akida)1.0 is not selling at a scale that supports that market cap.
10:30 But the good news is that the market is moving rapidly in our direction especially so around the transition to the edge. This movement by the market is exactly what we expected.
10:43 However there's a headwind and that headwind is software. Software always moves toward more prevalent platforms which today are traditional and basic CPU platforms.
While we have licensees building platforms and going to market for certain use cases, that that killer use case for really broad general purpose platforms you know really hasn't emerged yet.
1:12 So what the second generation of Akida does is that it enables use cases that truly couldn't be done before at the edge. So firstly 2.0 removed some of the barriers for adoption that our customers raised to us.
14:12 The second generation is about extending our lead and working with industry leaders in enabling new and compelling use cases or scale that wasn't possible before and this is a main reason probably the main reason why we're seeing the highest level of customer engagement that we've ever had.
16:39 So why do you think now is a good time for someone to invest in Brainchip?
Because AI is the future. Investment in AI is only just I think getting started and furthermore edge-based AI is particularly lucrative because of the green field of opportunities it offers our potential partners and licensees. If there's an industry to be long on it's AI. Clearly I am biased but I think Brainchip is extremely well positioned.
20:11 You have to think about where they are in the design cycle. When someone takes a license from us most likely it is way at the front end of the design cycle and so at best at best they're two to three years out from having a production product in any sort of meaningful volume. And to be honest they might not even get there.
22:43 A couple times in this podcast you have heard me say that we've got our highest level
of Engagement going on right now………. we are more active than we've ever been and I will just say that is encouraging
https://www.youtube.com/watch?v=i71MRFfeVfo
(https://www.youtube.com/watch?v=i71MRFfeVfo)
Checking in on BrainChip and Weebit Nano: Investor Webinar 12 July 2023 with Stocks Down Under
7:20 Weebit Nano and Brainchip so these are two stocks that we own, full disclosure we own both stocks.
7:44 A screenshot from our webinar on the 12th of April and the stock (BRN) at that time was at 46 cents and we talked about the failed breakouts that we saw and the potential to for the stock to go down further we saw support at 41 cents and 37 and 32 and a half and well we said if those support levels have broken there's this downside to 20 cents.
8:54 But what's causing this and we spoke about this before what's going wrong for Brainchip at the moment. Well in our view it's lack of communication the company hasn't really spoken about a lot in the last sort of year or so uh we do see you know occasional stuff on social media that they're working with some chip companies with ARM for instance.
10:23 They are not allowed to talk about customers and prospects and of course that's a very common problem for technology companies, especially on ASX because ASX officials don't always understand that especially in semiconductors you can't really talk about customers you risk losing their business and there's been companies previously in other Tech sectors on ASX where they were forced to disclose names and they lost the business
13:19 As dynamic as the semiconductor industry may seem it's notoriously hard to do deals in the space because all these companies are actually really conservative once they've got their production processes up and running they don't want to change anything they just want to keep it that way and print money. Basically any change to that production process is a big hassle because they have to retest the production, the output, qualify the new products so it's actually something they don't really want to do. It means that sometimes these deals take longer than expected so keep that in mind.
Closed today at 32c up 2c on 12.1m.
On Monday 28 Aug closed at 29c down 3c on 17.5m, and 5m shorts (28.5%) after half year report out.
On Tuesday closed at 27.5c down 1.5c on 7.8m, shorts were 2m (25%)
Wed up 2.5c to 30c on 10.3m, shorts 719k (7%)
So very volatile and traders will be making money.
https://stocknessmonster.com/announcements/brn.asx-2A1469349/
CEO Comments on 2023 Half-year results
The Group made a net loss after income tax for the half-year ended 30 June 2023 of $17,146,781 (30 June 2022: $8,255,802).
BrainChip CEO, Sean Hehir commented, “while the results are clearly not acceptable, they were anticipated. The focus on accelerating development on the 2nd generation Akida architecture which will allow us to reach new customers and solve bigger challenges on higher value applications drove incremental cost.
Our commitment to releasing this market-leading product in the shortest time possible drove an increase in labour cost over the same period last year.
Further adding to the expanded loss was the non-cash item of RSUs issued to our former Chairman, which added additional expense.
In anticipation of 2nd generation Akida, we have seen a lot more traction from serious prospects and very detailed evaluations, however decisions are being delayed until formal release of the platform. The depth and quality of these engagements gives me strong confidence in the strategy and growth potential of BrainChip.”
https://stocknessmonster.com/announcements/brn.asx-2A1468998/
(https://stocknessmonster.com/announcements/brn.asx-2A1468998/)
BrainChip Granted New Australian Patent Relating to Akida 2.0 IP
The patent is considered by the Company to be a valuable IP asset that will block competitors from performing efficient transposed and dilated convolutions in a neural network.
https://stocknessmonster.com/announcements/brn.asx-2A1469355/
(https://stocknessmonster.com/announcements/brn.asx-2A1469355/)
BrainChip announces availability of AKD1500 reference design.
The AKD1500 chips from GlobalFoundries are fully functional at first silicon and will be available in limited quantities in the coming quarter.
Closed today at 31c, dn 1c on 12.1m, high 35c, low 30.5c. Shorts yesterday were 1.864m (15%.) Shorts - 8.21% on 28 Aug.
Brainchip removed from the S&P/ASX 200 Index, still in the S&P/ASX 300 Index
https://stocknessmonster.com/announcements/brn.asx-2A1471429/
(https://stocknessmonster.com/announcements/brn.asx-2A1471429/)
S&P Dow Jones Indices Announces September 2023 Quarterly Rebalance of the S&P/ASX Indices
S&P/ASX 200 Index – Effective Prior to the Open on September 18, 2023
Removal BRN BrainChip Holdings Limited
Speeding ticket from the ASX. Response to ASX Query
https://stocknessmonster.com/announcements/brn.asx-2A1471263/
(https://stocknessmonster.com/announcements/brn.asx-2A1471263/)
The closing price of BRN’s shares on 28 August 2023 following the Announcement, which was approximately 11% lower on larger than usual volumes. ASX notes a further decline of 5.2% in the share price on 29 August 2023
winner69
22-09-2023, 02:05 PM
BRN chart looking rather sad these days
Brainchip closed at 17c on Friday, down 0.5c on 6.1m. 862K shorted on Thursday, 28th most shorted stock on ASX at 5.78%.
https://stocknessmonster.com/announcements/brn.asx-2A1482513/
(https://stocknessmonster.com/announcements/brn.asx-2A1482513/)
Appendix 4C & Quarterly Activities Report for the Period Ended 30 September 2023.
The Company ended the June Quarter with US$17.8M in cash compared to US$21.8M in the prior quarter. BrainChip reported net operating cash outflows of $4.0M vs.$ 4.1M in the prior quarter.
Cash inflow from customers in the current quarter of $0.03M was lower than the prior quarter (US$0.83M).
The period from June to September 2023 saw continued progress in the execution of our commercial and corporate strategies focusing on the ongoing development and availability of the 2nd Generation Akida technology platform to lead customers. These goals were achieved in the final days of September after a significant and sustained effort by our entire team. I am pleased to see continued growth and expansion of our commercial ecosystem partnerships, especially with the Edge box seeding the market which will expand the adoption our technology. These achievements coupled with the traction we’re seeing with IP licensing prospects, gives me confidence in our strategy and that over time our technology will proliferate across a wide range of industry applications and platforms.
During the quarter, the Company announced several new commercial partnerships focused on expanding BrainChip’s ecosystem and access to BrainChip technology across a wider range of industrial applications. Such partnerships include GMAC Intelligence, which is building a drive-through automation solution for quick-service restaurants (QSRs). The application, QSRBot 247, revolutionizes the fast-food ordering experience by delivering a fully automated system using vision and voice that will accurately take orders in a more human and intuitive interface, as well as fulfill, deliver, and manage payment seamlessly and automatically. It enhances the experience by identifying loyal customers, learning their preferences to help personalization and satisfaction.
Another major partnership with Tata Elxsi, a leader in providing design and technology services across a multitude of global industries and markets, will be driving Akida™ technology into medical devices and industrial applications by leveraging BrainChip’s first-to-market, fully digital, neuromorphic technology to provide intelligent, ultra-low power solutions to these demanding target markets. Finally, to accelerate Akida technology into the market, Brainchip entered into a partnership with VVDN Technologies, an industry-leading device manufacturer and solutions provider that has extensive experience in developing and deploying vision-based solutions for various domains, such as automotive, industrial, security surveillance, enterprise, medical and others. VVDN will deliver the first Edge box based on neuromorphic technology.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729132-2A1482518?access_token=83ff96335c2d45a094df02a206a 39ff4
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729132-2A1482518?access_token=83ff96335c2d45a094df02a206a 39ff4)
Some changes in Top 20 Holdings this quarter. Some holders going up, others down. Louis DiNardo (former CEO) is out of the top 20.
Top holder last time - Citicorp - down 43 million shares or 38%, from 156 million to 113 million. One of the holdings in that account is the ADR account held by Bank of NY Mellon. ADR = American Depositary Receipt Program, hold BCHPY shares that trade on US market.
3rd largest. BNP - up about 6 million shares. Clearstream holds the shares that trade in Germany and Europe.
5th. JP Morgan - up 11 million shares. They bought over 20 million shares over the last two quarters.
6th. HSBC Australia - down 15 million shares.
7th. BNP (2) - up 4 million.
8th. Certane - up 10 million.
10th. HSBC (2). down 12 million.
11th. BNP (3) - up 1 million.
15th. Certane - up one million.
Baa_Baa
29-10-2023, 07:55 PM
$30,000 revenue :scared:, $0.175c SP, almost halved in a couple of months, and still the 28th most shorted stock on the ASX. This SP is only going one way.
Share price was up 38% today on no news.
Up 7c today to 25c, on 31m, so volume up. Has been 4m -8m the last couple of weeks, but there have been other high volume days in Sept and Oct.
Sep 15, 2023 - 77,441,326 traded = out of the ASX200
Sep 22, 2023 - 35,111,091
Oct 10, 2023 - 35,053,810
https://finance.yahoo.com/quote/BRN.AX/history?p=BRN.AX
Not as good as the 143% rise on 29-09-2016 though.
Yes - BRN up 15c today 142.9% to $0.255 on $14,775K
BrainChip to roll out game protection technology at major Las
Vegas casino following successful completion of trial
Highlights
BrainChip will roll out its innovative casino table security technology at one of
Las Vegas’ biggest casinos following the successful completion of the phase one
trial
The roll out of BrainChip’s Spiking Neural Network‐based SNAPvision
technology will initially be across all baccarat tables in the trial casino with a
second casino to be added in the next month, followed by a roll out to more of
the group’s casinos
The roll out will deliver an immediate and growing revenue stream to
BrainChip
Second product application is currently being trialled across a range of table
games including Blackjack, Blackjack Switch and Ultimate Poker
Huge market opportunity with the casino management industry, which
includes security and surveillance, expected to grow to US$4.5 billion in size by
2018
BrainChip Announces Transition to a New CTO. 21 November 2023
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02742945-2A1489160?access_token=83ff96335c2d45a094df02a206a 39ff4
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02742945-2A1489160?access_token=83ff96335c2d45a094df02a206a 39ff4)
· BrainChip announces the planned retirement of co-founder and CTO Peter Van der Made.
• Peter Van der Made will continue to sit on the Board of Directors and Scientific Advisory board.
• Announces new CTO, Dr. Tony Lewis, former VP and Global Head of the AI and Emerging Compute Lab at HP, Inc where he played a pivotal role in AI integration across various product lines.
Tony also made significant contributions at Qualcomm, Inc., where he led the Zeroth© Neuromorphic Engineering Project while contributing to projects in intelligent AI agents and robotics and collaborating closely with Qualcomm Ventures.
Tony has served as a visiting or adjunct professor at the University of Arizona, the University of Illinois, Urbana-Champaign, and the University of Waterloo. His entrepreneurial experience is evident in his founding of a government funded R&D company specializing in neuromorphic computing and robotics. He has been active as a startup advisor and investor, bringing his technical acumen to various innovative ventures. Tony holds a Ph.D. and master’s in electrical engineering, with a specialization in robotics and neuroscience from the University of Southern California, and a BS in Cybernetics from University of California, Los Angeles.
BrainChip’s Quarterly Investor Podcast Episode 3 – BrainChip CEO Sean Hehir Addresses Investors. Nov 14, 2023
https://www.youtube.com/watch?v=kLV8Sdb9aek
1:02 On 3rd of October the second generation Akida technology platform is now available as IP to EAP. Generation one product is a very good leadership product in the market but very narrow focus. With generation two we are now able to address a much broader set of use cases.
We have engagements in the pipeline right now on generation one but overwhelmingly the pipeline is on generation two. The interest is outstanding because it does some really important things.
2:34 Brainchip in partnership with VVDN will have available for pre-sale later this year an edge box incorporating the Akida 1000 chip.
2:56 An edge box is a tool that can be used by AI developers to create new edge AI products. Specifically some of the use cases you're asking about would be things such as retail to monitor shoppers behavior and items moving off the shelf as an example, or perhaps home security.
This box will just prove the capabilities of our Akida technology so it's a really nice way to demonstrate our capabilities in the market now
4:36 There was a lot of forced selling once we came out of the ASX200 which of course caused further price deterioration.
Now I believe that our price has overcorrected. I believe that Brainchip is well positioned. I believe that the market is very very early and I think it represents a very good buying opportunity for investors. I'm confident in our intermediate and long-term future.
5:43 The recently announced partnership announcement with Edge X could see Brainchip technology deployed in space by the European Space Agency. Does this signal a change in focus away from NASA or is this a case of both? Both space agencies identify neuromorphic AI as a solution.
6:19 I would say we are engaged with other organizations around the world around space technology and hopefully we will see some further announcements in that space.
7:29 The number and the depth of engagement has never been higher and it's accelerating.
7:42 I am personally overseeing the sales team for the last several months so I'm intimate in every single critical engagement. I'm fully aware where we are and I'm very comfortable that we're progressing on the path and the timeline that we want to be on.
Can I give you specific updates? Absolutely not. You know that’s something we can't talk about is those engagements. We're under NDAs, nothing's been signed but I'm very very comfortable where we are with those.
8:44 We're seeing interest across many verticals, certainly continue in auto, wearables, hearing aids, internet of things or industrial.
9:00 Have we lost any customer to any engagements on technology? The answer is no. Now we're in the middle of many, we don't know what the outcome will be but to date we have not lost any.
We have won technical engagements and the customers decided to not go forth and build chips. I'm aware of that but no we are not losing in head-to-head technical evaluations at this time.
9:30 It's almost 2 years since you started in the job as Brainchip CEO and in that time there have been no IP license sales and no revenue generated from royalties. Shareholders have been expressing their impatience and frustration about that and some are questioning whether you're the right person to continue driving the company forward. Would you like to comment on that.
9:59 I too share that frustration, I'm an impatient person so I would like to see results come quicker.
10:13 But let's set some context. When I arrived here two years ago this was a company that really was a research organization and had just kind of got out through the development phase. Since then we acknowledged that the first generation of product was too narrow. We've done a tremendous push to release the second one and built up a whole new sales marketing and go to market motion.
11:14 We believe we have the right business model for sure. IP sales take time. They're lengthy but when they hit it's a very solid model that yields fruit for the shareholders.
11:59 The Edge AI Market is still new and it's important to be flexible and nimble and that's what IP allows us to do particularly with our generation 2. We can scale very low and we can scale very very high. No one really knows exactly where the market's going to go, so you really don't want to lock on to a form factor or chip with a certain number of nodes, certain vertical or certain interfaces. You could be wrong and then you've got real problems in the company.
Investor Presentation November, 2023
https://assets.website-files.com/627553f48fbde12d3cc9195b/65663f4520853ea735e4b464_BrainChip%20Investor%20De ck%20Investor%20Roadshow%20November%202023%20v.5.p df
BrainChip OTCQX: BCHPY|ASX:BRN
BrainChip At A Glance
· First to commercialize neuromorphic IP platform and reference chip.
· Competitive advantage extended with launch of 2nd Gen Akida IP platform
· World-class board & executive team focused on commercialization and R&D
· Highest-ever level of customer engagements with global sales team in place
· Growing commercial ecosystem and partnerships with leading global tech companies
· Growing patent portfolio with 18 issued patents and 30 applications pending
· High-margin/ low-cost IP licensing business model with future IP licence sale and royalty revenue streams
Since the AGM…
· Akida 2nd Gen technology platform available as IP to EAP customers.
· 1 st shipment of AKD1500 chips received from Global Foundries, tested and used in demonstrations.
· GMAC Intelligence, Tata Elxsi, VVDN Technologies, Lorser Industries, CVEDIA, Teksun, Blue Ridge Envisioneering and Quantum Venture added to growing list of commercial ecosystem partnerships.
· University of Virginia and University of Oklahoma added to BrainChip’s University AI Accelerator Program.
· Edge box co-developed with VVDN Technologies utilizing Akida silicon to go on sale early next year.
· Collaborations and disruptive design wins in Space Tech and Sustainable Cities with EdgX and European Space Agency programs, Circle8 for waste management.
Yesterday it closed at 22c, down 1c. Huge volume of 50.9m of which 42.2m happened at closing as Brainchip was added to the MSCI Global Micro Cap index at the close of 30 November 2023. MSCI = Morgan Stanley Capital International. Someone who follows brokers’ reports said Morgan Stanley has been buying recently.
Shorts are closing slowly, on Monday 27 November 86.5m = 4.83% down 0.47%. Some days in the last week or two there have been no short sales.
https://www.shortman.com.au/stock?q=BRN
Closed at 18.5c, down 2c 9.8% on 16.7m = $3.2m
Shorts – 28/11 & 29/11 no shorts, 30/11 - 2.1m, 1/12 - 2.8m. Total shorts 28/11 = 4.63% =82.8m
BrainChip Holdings Announces new Capital Call Notice under continuing agreement with LDA Capital.
https://stocknessmonster.com/announcements/brn.asx-2A1491937/
(https://stocknessmonster.com/announcements/brn.asx-2A1491937/)
• Company submits notice to sell 25,000,000 Shares
• Available funding under the LDA Agreement of $15,680,696 (AUD)
The Pricing Period for the Capital Call Notice will begin on 04 December 2024 and will end on the earlier of 15 February 2024 or when the shares have been fully subscribed by LDA Capital. The agreement allows extensions to the pricing period upon request by the company in the event unsold shares remain at the period ending date.
As of the date of the capital call notice, available funding under the agreement amounts to $15,680,696 while the company is committed to drawing down a minimum of $2,767,457 no later than 31 December 2023.
The balance of shares includes 9,243,460 shares currently on account with LDA Capital with the remainder to be issued to LDA during the pricing period.
Application for quotation of securities - BRN
https://stocknessmonster.com/announcements/brn.asx-2A1491946/
BRN today issued 15,756,540 fully paid ordinary shares (Shares) following the issue of a Capital Call Notice.
Cleansing Notice Correction to LDA Capital Call Pricing Period
https://stocknessmonster.com/announcements/brn.asx-2A1491944/
(https://stocknessmonster.com/announcements/brn.asx-2A1491944/)
Correction to LDA Capital Call Pricing Period
https://stocknessmonster.com/announcements/brn.asx-2A1492059/
the Capital Call Notice incorrectly stated that the pricing period would begin on 4 December 2024. The correct date is 4 December 2023.
Institutions buying according to broker reports.
14 November to 21 November. Biggest buyer Citigroup with $1.228m, also buying Morgan Stanley, Morrisons, Macquaire, Goldman.
21 to 29 Nov. Biggest buyer JP Morgan $1.4m, also buying UBS, Citigroup, Morgan Stanley, Goldman and Jefferies. UBS went from net short to net long.
Note below Top20 on 29/10/23 - 5th. JP Morgan - up 11 million shares. They bought over 20 million shares over the last two quarters. They had 68m = 3.82%.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729132-2A1482518?access_token=83ff96335c2d45a094df02a206a 39ff4
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02729132-2A1482518?access_token=83ff96335c2d45a094df02a206a 39ff4)
Some changes in Top 20 Holdings this quarter. Some holders going up, others down. Louis DiNardo (former CEO) is out of the top 20.
Top holder last time - Citicorp - down 43 million shares or 38%, from 156 million to 113 million. One of the holdings in that account is the ADR account held by Bank of NY Mellon. ADR = American Depositary Receipt Program, hold BCHPY shares that trade on US market.
3rd largest. BNP - up about 6 million shares. Clearstream holds the shares that trade in Germany and Europe.
5th. JP Morgan - up 11 million shares. They bought over 20 million shares over the last two quarters.
6th. HSBC Australia - down 15 million shares.
7th. BNP (2) - up 4 million.
8th. Certane - up 10 million.
10th. HSBC (2). down 12 million.
11th. BNP (3) - up 1 million.
15th. Certane - up one million.
CEO Sean Hehir was in Australia early November holding meetings with shareholders, Pitt Street Research and other interested parties. One of the meetings was apparently in Sydney on 6 November. Rumour says that the price spike to 25c and volume spike to 31m on 8 Nov was because of those investor meetings.
Share price was up 38% today on no news.
Up 7c today to 25c, on 31m, so volume up. Has been 4m -8m the last couple of weeks, but there have been other high volume days in Sept and Oct.
Sep 15, 2023 - 77,441,326 traded = out of the ASX200
Sep 22, 2023 - 35,111,091
Oct 10, 2023 - 35,053,810
https://finance.yahoo.com/quote/BRN.AX/history?p=BRN.AX
Not as good as the 143% rise on 29-09-2016 though.
Baa_Baa
04-12-2023, 09:32 PM
The lingering and persistent smell of many years of massive dilution, for early adopter shareholders hoping for a quick win that has never come. The only hope for them is to time the next SP move, maybe this time they get it right? Who knows, no one does so far. How far away is this from mass production, sustained revenues and profits, who knows, or will it ever get there? No one does. Year after year, the story goes on. Better to just trade the chart, when it breaks out, get some, when it breaks down, get out. Don't buy the story and hold, it may never come.
Aotea
04-12-2023, 09:51 PM
Hard to pick on this one. Ive sold out to free carry twice over so happy to hold and see what future the company has..
Catching up with Brainchip CEO, Sean Hehir. Stocks Down Under. Nov 9, 2023. Sydney
https://www.youtube.com/watch?v=ZCRER0erel4
(https://www.youtube.com/watch?v=ZCRER0erel4)
0:27 What we do at brain chip is we create intellectual property for people that are going to create custom chips that can do AI inference on the edge. When you say the edge that means outside the data center and there's a big movement in the industry to go away from everything in the data center to inference outside the data center, whether that's automobiles, medical devices, hearing aids, things like that industrial applications. So we create intellectual property for people that want to build custom chips.
1:00 We're the first company in the market to commercialize a neuromorphic approach.
1:09 Our model is very simple. like all licensing and IP companies we sell a license. Originally we charge some support and engineering for people who need help building their chips and when the chips come off and are created we collect royalties. It's a business model that over time creates a very attractive P&L.
1:47 Generation One - the first release of IP is a world-class product however it's very narrow in its functionality or very narrow in its use case so we have some customers and prospects there. The majority is interested in generation 2. Some of the things we did in generation 2 were at the customer request meaning - hey we want certain things that you don't do in there.
2:11 Specifically a lot of the industry is on 8bit support and we were on 4bit support so now we do 8, 4 and 2 so that's a big thing. We included long range skip connections which is something that the industry wanted - it's a very common way to do things and we needed to include that.
And now we support pytorch or Onyx pytorch. Most of the models in today's world are created in two major frameworks, tensorflow or pytorch.
Customers spoke to us said please include these functionalities. We've done that. Secondly we included some breakthrough kind of algorithm with called TENNs (Temporal Event-based Neural Networks) which is the ability to do things with element of time call spatial temporal neural networks. The breakthroughs are incredible. The ability to do much more with less lower power consumptions, less parameters and outstanding performance.
3:24 So we're seeing a lot of interest from in the pipeline for TENNs and we've also included something called encoder for vision transformers. So that's a lot of things that people can do now that they couldn't do before.
When people engage with us they start with an idea in mind. They have a product and they want certain types of functionality in it. They want some AI inference capability and they want to do it outside the data center. They don't want to have a network connectivity, they don't want to have large power.
4:15 We're seeing interest for things in hearing aids, such as de-noising and clarification. We see customers’ interest in industrial for IOT or vibration analysis to say hey here's your signature for preventive maintenance. We're seeing interest for wearables, in automobiles in various parts of the automobile so we're seeing a whole variety of things that people are interested in across a lot of verticals.
Just as an example the hearing aid - Akida in that use case would basically filter out what is voice, what is noise and skip the noise and just bring out the voice of whoever you're talking to.
5:05 We've announced the second generation but the customers prospects are waiting for the actual platform to be available.
So in terms of engagement in terms of traction what are you seeing now that is say different from a couple of months ago? If I look across our pipeline of all the engagements, much more than half probably 3/4 of it is all around generation 2 so that tells me it's something that people really, really wanted to have. So, the interest level is incredibly high in generation 2.
5:44 How far along in your sales funnel would you say some of these prospects are because it's one thing to be interested and a second to look at it and start testing with it but at the end of the day of course you want revenues out of that. Can you shed some light on the sales funnel for some of these?
So, these are very serious engagements, these are engagements with customers that have timelines to create product. So they're not just saying hey show me this and let's figure out if there's something to do right. Many of these customers have real projects. They have a date somewhere out in the future to get something done with a timeline. We're going to create an evaluation, we've got budget to do that. So they're very serious engagements and then when we engage that takes a fair amount of time. Typically it starts with a customer sharing their models with us. We'll run some models and share the performance data with them and say here's what you can expect from us and so we do it that way. In addition then we might turn over a board or a system and let them run themselves so they take a fair amount of time but we're deep in several, several engagements.
Catching up with Brainchip CEO, Sean Hehir. Stocks Down Under. Nov 9, 2023. Sydney
https://www.youtube.com/watch?v=ZCRER0erel4
(https://www.youtube.com/watch?v=ZCRER0erel4)
6:44 These aren't just explorations, they're projects where people have defined budgets and defined timelines. So you don't do that unless you're very serious about actually implementing that, because it's going to take a fair amount of resources on their behalf too. They're going to have to dedicate some technical resources to do these evals.
Which industry would you say is dominant among your prospects? I think it's relatively distributed. I've just talked about a fair amount in wearables, a fair amount in hearing aids, a fair amount in industrial and a fair amount in automobiles.
7:25 One of the initial deals was Megachips probably two years ago. That was one of the big ones in terms of the first license fees coming in.
How far along is that one in terms of mass production which would mean royalties for you?
We don't talk about the customers and their progress. It's their business. Now we work with Megachips. We are in constant contact with Megachips, we support Megachips but I really can't comment on where they are in their revenue streams.
What sort of delay is there between getting that first revenue in from licenses and actual royalties from mass production? So when somebody's going to build a custom chip it takes a fair amount of time and typically IP selection is pretty early in as part of that process so once they decide to buy their IP then they're going to have to go ahead and complete the design of their chip and that takes anywhere six to 12 months and at that point then when the chip comes back they're going to do some test QA and then eventually it goes into their end product and then it goes out to market so it could be well over a year, two years at a time.
8:54 I noticed you've got about 17 million in cash. You're burning roughly four a quarter. can you remind us of the structure of the deal with LDA Capital for your funding purposes.
Sure but before I do I want to add one more thing if I could to the last comment because you know I've got a lot of questions on this trip about the recent announcement on a commercial model. We announced something with a system integrator called VVDM, and VVDN is going to create an edge box that is going to be very small, and it's going to include our chip the Akida 1000. The box will be used for all kinds of use cases. Some of it could be for security, for retail monitoring and things like that. It'll be sold predominantly by VVDN. We will sell it as well. We're not going to sell it in volume with our salespeople. We're going to put it up on our website for people who want to buy it.
So people have asked me repeatedly is that a change in our business model to a chip versus IP? The answer is no. We're doing that for a couple reasons, We really want to just prove out more workloads into the market. And there's been there's been an ask from system integrators to do this. So we're going to do this with VVDN and we might do with others, but it is not a shift in our business model.
We're just going to try this and get some workloads out there. So you'll see some revenue but we're not expecting to be big revenue off the hardware.
10:19 LDA is a very favorable and friendly way for us to do our fundraising. We provide a certain number of shares to LDA. We specify a period of time that they can release those to market. We set a minimum price that they can't sell below and they take 8 and a half % for that service. As CEO and our CFO and our board we're evaluating all options for funding.
11:03 What can investors look forward to in terms of milestones in the next 12 months?
I think the next 12 months are critical for Brainchip in a lot of ways. When I came here two years ago the company was just really exiting its R&D phase. Now we had just released a chip but there was minimal sales people, we had minimal marketing presence. We just realized our generation One was narrow in focus.
So a lot of work went to creating generation 2 which we believe is the product that the company's going to be built on for the coming years.
We've revamped our entire sales organization. We now have sales presence around the world. We have people in Korea, Japan, Israel, Europe, the United States. We talked a little bit about the pipeline as well.
We're in a in a very different position than two years ago. So, the next 12 months is critical. So what can people expect from us? Certainly more partnership agreements, that's a critical part of our success. I made a comment at the AGM that we're going to accelerate our product development. So look for more product announcements from us and also for announcements around engagements that we're hopefully going to be winning.
While some people have their doubts about whether Brainchip will be successful, Steve Thorne sees its potential and is willing to leave a senior position in Intel to join Brainchip. The fact that Brainchip is able to attract high calibre people including the new CTO, Dr. Tony Lewis shows that those in the industry can see its potential and want to be involved.
BrainChip Attracts Former Intel AI Sales Executive to Head Up Sales. December 5, 2023
https://finance.yahoo.com/news/brainchip-attracts-former-intel-ai-170000793.html
(https://finance.yahoo.com/news/brainchip-attracts-former-intel-ai-170000793.html)
Brainchip has hired Steve Thorne as vice president of sales to help the company fulfill its mission to make every device with a sensor AI-smart.
Thorne is a senior sales and marketing executive with nearly three decades of experience in AI and data center solutions. He comes to BrainChip from Habana Labs, an Intel company, where he served as Head of Sales for the company’s world class AI processors. He holds a Bachelor of Science degree in computer science from the Georgia Institute of Technology and was issued a patent for the design of a rack-mount stackable hub and switch.
"I have had the benefit of growing with one of the largest technology innovators in the industry and applying a customer-centric mindset to high-growth sales organizations," said Thorne. "Having seen the market’s need for innovative AI solutions, I believe that BrainChip has the essential disruptive technology to make AI ubiquitous across a wide range of industries and use cases."
"We are excited to bring Steve in to drive the next phase of AkidaTM sales growth," said Sean Hehir, CEO of BrainChip. "His AI experience, his enthusiasm to foster customer success to build business, and nurture the sales organization is a tremendous asset not only to BrainChip, but to our customers and partners as well."
Spectacular drop in shorts in the last week or two. Shorts are closing. Now 1.47%.
https://www.shortman.com.au/stock?q=BRN
(https://www.shortman.com.au/stock?q=BRN)
Shorts on 1st December 1.47% = 26.2m, and on 4th December were 1.47% = 26.6m shares. out of 1,805m.
The high was 8.2% on August 28.
15 September 5.9%
22 November 5.92%
23 November 5.07
29 November 4.5%
30 November 4.5%
1 December 1.47%
4 December 1.47%
Short sales on 7 December were 103,385.So it looks like Brainchip is bottoming. It had a low of 15c on 6 October and 16c on 31 October.
https://www.google.com/finance/quote/BRN:ASX?window=6M
https://finance.yahoo.com/news/media-alert-brainchip-details-olfactory-183000617.html
(https://finance.yahoo.com/news/media-alert-brainchip-details-olfactory-183000617.html)
BrainChip Details Olfactory Capabilities of Identifying Bacteria in the Blood in New Research Report. November 30, 2023
LAGUNA HILLS, Calif., November 29, 2023--(BUSINESS WIRE)--BrainChip Holdings Ltd, the world’s first commercial producer of ultra-low power, fully digital, event-based, neuromorphic AI IP, today announced the availability of a research paper detailing how neuromorphic computing can be utilized as part of an electric nose system to detect and identify different bacteria in the blood.
With findings achieved through studies by BrainChip Research, "Finding Bacteria in the Blood: Scaling a Hardware-Driven Neuromorphic Solution for Real-World E-Nose Applications" presents how a hardware-based, low-power neuromorphic solution can be combined with electronic sensors to create compelling real-world healthcare solutions that are cost-effective, portable and accurate. These assisted devices could significantly speed up disease diagnosis in remote locations, or even outside of traditional clinical facilities.
The paper explores a blood dataset collected as part of the Mednose project at Örebro University. The classifier model developed using Akida™ was able to identify ten different bacteria species in blood samples with a classification accuracy of 97.42%, outperforming previous implementations.
"Leveraging neuromorphic hardware to provide portable, power-efficient solutions for use in the identification of sensory data is a game-changer for a plethora of practical applications, such as e-nose systems," said Anup Vanarse, Research Scientist at BrainChip. "This latest research paper shows how Akida’s olfactory analysis technology allows for efficient and accurate detection of various strains of bacteria in blood to help with important disease diagnosis. Incorporating beneficial AI within sensory devices will provide the means for massive breakthroughs in the healthcare industry."
Brainchip closed at 36c on Friday 16th, up 7.5c= 26.3% on 46.7m
It started rising on 6 Feb from 16.5c to 20c up 21% on 14m.
Then closed 26c up 15% on 12 Feb with 27.7m
Then 13 Feb hit a high of 33c to close at 25.5c on 64m.
There was an announcement of the LDA Capital Call of 25m shares on 4 December when the price closed down 2c to 18.5c. The pricing period ended on Thursday. The Pricing Period for the Capital Call Notice will begin on 04 December 2024 and will end on the earlier of 15 February 2024 or when the shares have been fully subscribed by LDA Capital.
The SP was below 20c for the capital call period, often around 16.5c/17c. The price was pushed down with shorting. Shorts were 4.03%= 72.8m on 12 Feb. They were 1.47% on 4 December and jumped to 3.35% on Dec 6, rising to 4% on Jan 5.
Volumes during January and up to 5 Feb were low at 5m or less shares.
So volume has increased considerably from 6 Feb.
Brainchip would have raised about $4m during the capital call, but now the price is higher, the gain of say 10c per share goes to instos and not to Brainchip. That could have been another $2m in Brainchips coffers.
https://www.shortman.com.au/stock?q=BRN
(https://www.shortman.com.au/stock?q=BRN)
https://stocknessmonster.com/announcements/brn.asx-2A1491937/
(https://stocknessmonster.com/announcements/brn.asx-2A1491937/)
On 29 January when this top 20 shareholders notice was issued LDA no longer had 9m shares which were part of the capital call.
https://stocknessmonster.com/announcements/brn.asx-2A1501490/
(https://stocknessmonster.com/announcements/brn.asx-2A1501490/)
I think now some of the instos that bought into the capital call at say 16.5c have pushed up the price up to sell for a quick profit.
The price action reminds me of the pump and dump in Jan 2022 when it went up to $2.34 on Mercedes news. But it is also different now as Brainchip is closer to having its IP/chips in products and getting revenue, and the SP could rise on expectations of future revenue and developments and not actual revenue etc.
And there are investors that are accumulating and that is also helping the price rise. Who knows whether the SP will drop back to 20s or stay in the 30s, or rise even further. There is a lot of news about Edge AI, neuromorphic computing and Brainchip’s partnerships. Anything AI is very much the hot stock.
On 3 January Brainchip announced another capital call with LDA - another 40m shares to raise a minimum of $12m = 30c per share.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02759614-2A1497774
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02759614-2A1497774)
Company has agreed to sign an extension of the Put Option Agreement with LDA Capital LLC
• Minimum Drawdown for 2024 is $12,000,000 AUD.
The amendment will provide the company with access to capital, when necessary, until December 2024. The company is committed to meeting its obligation under the current agreement by drawing down the remaining $2.7M AUD which is currently underway and expected to conclude sometime in Q1 of 2024.
Under this Third Amendment, the company has agreed to an additional Minimum Drawdown Amount of $12M to be drawn no later than 31 December 2024.
Under the terms of the agreement, the company will issue 40 million Collateral Shares by the earlier of the next Capital Call or 31 March 2024.
On 25 January Brainchip released Appendix 4C & Quarterly Activities Report for the Period Ended 31 December 2023.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02765533-2A1501244
• Cash Balance as of 31 December 2023 US$14.3M
Cash inflow from customers in the current quarter of US$0.78M was higher than the prior quarter (US$0.03M).
On 4 December, the Company announced the appointment of Mr Steve Thorne as Vice President of sales to help the Company fulfill its mission to make every device with a sensor AI-smart. Mr Thorne is a senior sales and marketing executive with nearly three decades of experience in AI and data centre solutions. He comes to BrainChip from Habana Labs, an Intel company, where he served as Head of Sales for AI processor.
In October, BrainChip announced a strategic partnership with Circle8 Clean Technologies and AVID Group to develop “Smart Bins” that can automatically sort and recycle different types of waste through a combination of AI-powered sensors and robotics.
October also saw the BrainChip announcement of a collaborative agreement to develop data processing units for very demanding environments with EDGX, a Belgian space tech company focused on developing disruptive intelligent space systems.
In December, BrainChip announced that the first neuromorphic Edge Box based on Akida technology, built in collaboration with VVDN Technologies, a premier electronics and manufacturing company, would be displayed at CES 2024, 9-12 January in Las Vegas.
BrainChip also announced a strategic partnership to deliver a new configuration of the recently released Unigen Cupcake Edge AI Server, a new compact and powerful solution based on BrainChip’s Akida neuromorphic processor.
Re cash inflow of US$0.78M - in the Financial Report For the Half-Year ended 30 June 2023 Trade receivables were $754,990, so sales could be as low as 25K. The Annual Report due out at the end of this month.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02702641-2A1469213
Aotea
22-02-2024, 06:52 PM
Well after holding this stock for several years, selling and being free-carried twice over, it looks like BRN is possibly at the tipping point for global recognition. Great to still be part of this journey...
Well after holding this stock for several years, selling and being free-carried twice over, it looks like BRN is possibly at the tipping point for global recognition. Great to still be part of this journey...Yes, Aotea looks like we are at the tipping point. I’ve held since 2016 so it has been a long wait. The explosion of sales predicted for the end of 2022 did not happen. We had the spike to $2.34 in January 2022 on the Mercedes Benz news, and then it drifted slowly down to finish the year about 75c.
Thursday 22 Feb closed at 43c, up 9c 26.5% on 42m
Friday 23 Feb closed at 49c, up 6c 14% on 78m, with a high of 53.5c. So it broke through 50c for a while about two hours in the afternoon.
Shorts were still at 4.01% on 19 Feb = 73m, so slightly less than Friday’s volume on the ASX.
It also trades on Cboe, formerly known as Chi-X, an ASIC-regulated stock exchange for Australian shares, just like the ASX where it closed on Friday at 48.5c on 42m. So 120m shares traded in one day, that is momentum. 363m shares were traded when it peaked at $2.34 in January 2022.
Annual Report and full year results released last Monday 26 Feb after market closed at 49c on 32,488m. High of 51.5 and low 46.
Tuesday the share price plunged down 17c 34.7% to 32c on 55.8m.
It was no surprise that there was almost revenue. We had seen that in the quarterly reports so the huge drop did not seem justified.
Wednesday it closed at 38c, up 6c 18.8% on 53.4m
Thursday it closed at 38.5c on 23.8m
Friday it closed at 38c on 18.99m
And today Monday it has resumed its upward trajectory closing at 43.5c, on 35.5m
So traders have made lots of money, while long term holders have had to endure continuing volatility.
Revenue from continuing operations 232,004, was down 95% from 5,071,252 last year.
BrainChip Holdings Ltd Reports 2023 Full-Year Results
https://stocknessmonster.com/announcements/brn.asx-2A1507491/
(https://stocknessmonster.com/announcements/brn.asx-2A1507491/)
Company ends period with US $14.3M in cash.
The Group made a net loss after income tax for the year ended 31 December 2023 of US$28.9M (2022: US$22.1M), reflecting lower revenue as the Company’s focus moved to development and marketing of Akida 2.0, and a modest increase in operating expenses.
Operationally, the Company focused on refining and executing its commercial strategy, featuring:
• expanding Sales & Marketing and Engineering teams,
• increasing the pipeline of qualified commercial engagements, and
• accelerating product development and building up customer support capabilities.
Significant progress was made, with strong customer engagement, expansion of technology ecosystem partnerships, the release of Akida 2.0 and the silicon-ready reference design for Akida1500, while continuing to strengthen the Company’s patent portfolio.
At the end of the year the Group had consolidated net assets of US$16.8M (31 December 2022: US$23.7M), including cash and cash equivalents of US$14.3M (31 December 2022: US$23.2M).
Annual Report 2023
https://stocknessmonster.com/announcements/brn.asx-2A1507488/
(https://stocknessmonster.com/announcements/brn.asx-2A1507488/)
APPENDIX 4E PRELIMINARY FINAL REPORT
https://stocknessmonster.com/announcements/brn.asx-2A1507487/
(https://stocknessmonster.com/announcements/brn.asx-2A1507487/)
ANNEXURE – KEY TO CORPORATE GOVERNANCE DISCLOSURES
https://stocknessmonster.com/announcements/brn.asx-2A1507489/
Brainchip Roadshow - Virtual Investor Roadshow held on Tuesday 27 Feb.
https://www.youtube.com/watch?v=v2lq8lOvfRc
(https://www.youtube.com/watch?v=v2lq8lOvfRc)
Investor Presentation.
https://stocknessmonster.com/announcements/brn.asx-2A1507492/
(https://stocknessmonster.com/announcements/brn.asx-2A1507492/)
Dr Tony Lewis new CTO spoke:
1:39 I have a PhD in brain inspired computing in robotics and you can think of robotics as the ultimate IOT device. I've led multiple large research groups at universities and industry. I ran my own research company in neuromorphic and robotics and it was funded by the US government and industrial partners. I've had experience across a wide variety of Industries and this makes me more sensitive to the needs of people not just in one particular market but many markets. So I've had experience in defence, space, biomedical, environmental monitoring, mobile phones and personal computers.
In particular at Qualcomm I was in charge of the largest research project outside of wireless in corporate R&D and we were focused on brain inspired computing and at I this was about over 10 years ago but as deep learning at the time was just taking off and I could see that this was going to be big and it was going to be something that's was really going to take the world by storm. And so I shifted the focus of this brain inspired research group to deep learning and right now Qualcomm is really enjoying a lot of the benefits of deep learning on their devices.
At that time I also developed an interest in large in language models and modeling language and I thought this was going to really start to take off, that was around 2017 or so just at the invention of transformers. I moved to HP where I was Global head of the AI and emerging computer lab in the office of the CTO. And so we're looking at AI and compute paradigms and how we could exploit them to improve our products but interestingly working for the CTO it's the perfect place to get training to be a CTO. I got to see a behind the scenes look at the longest lasting tech company and its great management practices.
What I have noticed across my work is that I do my best work when I'm working with a close close-knit team we're working hand and glove we can complete each other's sentences and also I have the support of a great boss and I think that I have those things here at Brainchip. And so I'm really think that all the necessary things are in place for me to really excel.
Now you asked me why did I join Brainchip and it was sort of the obvious thing to do. If you look at the macro environment for artificial intelligence we're really in the golden age of AI. We've never seen such an exposure in AI. That really seems to be sticking now. Cloud processing I feel is just the first act right now, though it's proving to be massively expensive. It's using too much energy, it is simply not green and how much it costs for energy.
It's not going to have a good impact. Latencies are always going to be large. You're never going to be able to handle real-time traffic. The internet itself was never, never meant to handle real-time traffic and so your only choice if you want to act fast you want to save energy and save money is to move to the edge and that's firmly where Brainchip plays now.
Akida AI technology launched into space.
https://finance.yahoo.com/news/brainchip-boosts-space-heritage-launch-230200919.html
(https://finance.yahoo.com/news/brainchip-boosts-space-heritage-launch-230200919.html)BrainChip Holdings Ltd the world’s first commercial producer of ultra-low power, fully digital, event-based, neuromorphic AI, today saw its Akida™ AI technology launched into low earth orbit aboard the Optimus-1 spacecraft built by the Space Machines Company. The successful launch is another milestone for BrainChip’s innovative AI acceleration solution in the burgeoning SpaceTech industry, which needs advanced learning and decision-making processes in challenging space conditions.
Akida is built into the ANT61 Brain™ computer, which serves as the primary intelligent control for a series of repair and maintenance robots that will be used to remotely repair damaged space vehicles. This autonomy demands high-performance AI computation under severe energy, power, and thermal constraints. This makes it an application for Akida’s event-based, neuromorphic architecture that can deliver the necessary high performance with extremely low power operation. Additionally, Akida's unique on-chip learning also enables the ANT61 Brain to learn and adapt, which is critical in constrained space environments where variables are constantly changing.
We’ve teamed up with BrainChip to create autonomous infrastructure maintenance robots that leverage an AI-driven ‘Brain’ to perform complex repair tasks in the unforgiving vacuum of space," said Mikhail Asavkin, CEO, and founder of ANT61. "This launch is an important milestone towards that goal. We plan to start operating the world’s first neuromorphic space-grade computer in two months after the launch."
With the success of the launch behind it, the ANT61 Brain will begin operation in the coming months with plans to refine its robot’s vision system, training with a video directly from the satellite’s cameras. The ANT61 Brain utilizes the AKD1000 of BrainChip’s first-generation Akida technology.
BrainChip Adds Edge Box to Chip and IP Offerings
https://www.eetimes.com/brainchip-adds-edge-box-to-chip-and-ip-offerings/
(https://www.eetimes.com/brainchip-adds-edge-box-to-chip-and-ip-offerings/)
BrainChip has become the latest edge AI chip maker to make its chips available in an “edge box” appliance, via Indian ODM VVDN.
Edge boxes are small standalone systems for AI acceleration, typically used for multi-camera video analytics in smart city or surveillance applications, or in industrial applications where sensor data is aggregated for analysis. They’re becoming an increasingly popular path to market for edge AI chip makers.
BrainChip will continue to offer first- and second-generation Akida chips and licenses for its Akida IP for SoC designs. The new edge box, which will be available from BrainChip and VVDN, doesn’t represent a pivot for the company, simply another path to market, BrainChip CMO Nandan Nayampally told EE Times.
At the edge, silicon and actual usable platforms are at a premium to some extent…the [edge box] helps us proliferate our tech, and it helps ODM box makers build out scale,” he said. “VVDN is one of the top box makers and they are providing boxes to OEMs and brands, but they are also looking at growing their own capabilities, because they see markets there…they see markets they can grow into if they scale. So this is a path for us both to proliferate our tech, improve revenue structures, and improve software and applications.”
The aim is for VVDN to offer the BrainChip box to its existing retail customers, but it will also be available on the BrainChip website to drive proof-of-concept activity and seed the market for BrainChip’s silicon and IP products, Rob Telson, VP of ecosystem and partnerships at BrainChip, told EE Times.
“We are expecting buyers to come and buy five to 10 boxes [from BrainChip], to start working in their environment,” Telson said. “We have a pipeline of customers that we’ve already engaged with, users of our development boards [who are happy to engage in that way], so we see that activity alongside what VVDN is doing to drive the box.”
Telson explained that despite strong offerings in the edge AI chip space, volume orders for these chips are still a way away.
“There are dozens of [edge chip] companies out there, and everyone’s doing something really good, they are innovating, but the truth is, unless it’s a plug and play device, no-one is making progress,” he said.
VVDN’s existing range of edge boxes focuses mainly on high-performance solutions from Nvidia, targeting security and surveillance applications, with price points in the $1000-2000 range. VVDN wanted to target a slightly different market with Akida, which will go on sale at $799.
“The intention is to hit a lower price point [than available offerings], go to volume and target retail security and inventory management in real time,” Telson said.
Big retailers use video analytics to learn about buyer behavior and for security. Vision in healthcare is also an important market for BrainChip since neuromorphic computing (https://www.eetimes.com/podcasts/perceiving-touch-with-event-based-neuromorphic-computing/) works well with event-based DVS sensors or time-of-flight sensors, perhaps providing fall detection while preserving patient privacy and not needing a cloud connection.
“We’ve started to see this pipeline grow from retail to other specialized high-volume areas where you’re leveraging the AI engine to be able to process information in a way others can’t,” Telson said. “[Neuromorphic technology] also started to pick up momentum in the home—one of these boxes with four cameras hooked up to it gives you your own personal security and surveillance environment without sending data to the cloud.”
BrainChip’s multi-modality, as well as its edge learning capabilities, will be attractive to edge box customers, Telson said.
“[Competitors are] focused on vision…and they are doing good stuff, but the fact of the matter is, when these boxes and the devices go into real world applications, you’re going to want to be able to analyze beyond vision, you’re going to want to analyze voices, sounds and other aspects like vibration,” he said.
Closed yesterday at 34c on 6.11m - $2m
https://stocknessmonster.com/announcements/brn.asx-2A1514152/
BrainChip Holdings Announces new Capital Call Notice under continuing agreement with LDA Capital
• Company submits notice to sell 40,000,000 Shares
• Available funding under the LDA Agreement of $50,163,541 (AUD)
27 March 2024 The company has submitted a capital call notice to LDA Capital Limited and LDA Capital LLC (LDA) to subscribe for up to 40M shares. Under the Third Amendment of the Put Option Agreement, the Company is obligated to advance 40M shares to LDA no later than 31 March 2024.
The terms of the Put Option Agreement between the Company and LDA were announced to ASX on 13 August 2020, 26 October 2020 (First Amendment), 13 October 2021 (Second Amendment) and lastly on 3 January 2024 (Third Amendment).
The issue price for the 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.
The Pricing Period for the Capital Call Notice will begin on 28 March 2024 and will end on the sooner of 7 June 2024 or when the shares have been fully subscribed by LDA Capital. The agreement allows extensions to the pricing period upon request by the company in the event unsold shares remain at the pricing period ending date.
As of the date of the capital call notice, available funding under the agreement amounts to $50.2M and the company is committed to drawing down a minimum of $12M no later than 31 December 2024, of which $1.1M has been drawn.
“The proceeds raised from the capital call will be used to solidify our go-to-market capabilities by augmenting our machine learning personnel and solution architects who are necessary to support accelerating market adoption of the Akida 2.0 IP offerings,” said BrainChip CEO Sean Hehir. “The company will also bolster the CTO function, enabling radical innovation required to bring large language models, multi-modal operation and other state of art AI to the edge and ensure we remain the industry leaders in hyper-efficient Edge AI”.
Quarterly report out on 29 April - Receipts from customers of $90K did not impress the market.
Closed at 28.5c, down 0.5c today on 3.75m shares. SP dropped back below 30c from 30.5c when the Quarterly report came out on 29th April. It was 28.5c on 15 Feb, and had been above 30c since then.
https://stocknessmonster.com/announcements/brn.asx-2A1519749/
(https://stocknessmonster.com/announcements/brn.asx-2A1519749/)
BrainChip Holdings Ltd Appendix 4C & Quarterly Activities Report for the Period Ended 31 March 2024
• The Company ended the March Quarter with US$13.0M in cash compared to US$14.3M in the prior quarter.
• Net operating cash outflows of US$4.4M vs.US$3.3M in the prior quarter.
• Cash inflow from customers in the current quarter of US$0.09M was significantly lower than the prior quarter (US$0.78M)
• Cash inflows from financing activities included $2.5M (A$3.8M) received upon the completion of the capital call notice that was issued to LDA Capital in December 2023, and resulting in the sale of 23.7M shares. BrainChip also received $0.54M resulting from the exercise of Long-Term Incentive Plan (“LTIP”) stock options by participants.
https://stocknessmonster.com/announcements/brn.asx-2A1519756/
Top 50 Holders Report
percy
08-05-2024, 12:52 PM
https://smallcaps.us14.list-manage.com/track/click?u=ac3a9fdb691a7372f8b04b033&id=d3f896e00f&e=6c1ad5cc63
Brainchip AGM today. Closed at 25.5c on 13m. Shorts 3.59%, 66.7m
https://stocknessmonster.com/announcements/brn.asx-2A1524370/
BrainChip – Results of Annual General Meeting held on 21 May 2024
https://stocknessmonster.com/announcements/brn.asx-2A1524324/
BrainChip – Annual General Meeting CEO and Chairman’s Address
CEO - Let me acknowledge right up front that our revenue numbers are not there yet. The evaluation and design cycle are longer, deeper, and more complex than we anticipated as customers plan their strategic roadmaps. However, after hearing my prepared remarks, hopefully you too will share my conviction that we are a much stronger and a better positioned company and share my optimism in our near-term and long-term success.
First and foremost, I know we need to close license sales. We have several engagements that have been in evaluation for over 1 year that are near closing in on a decision. These engagements are with leading companies in audio, IOT, and microcontroller segments. I have personally spent extensive time with C level executives in these accounts, an investment in timeand resources that would not have occurred if they did not consider BrainChip a potential strategic partner. We now have the product, the ability to excel in detailed evaluations, the team and deal structure to win strategic and lucrative deals.
Valuegrowth
21-05-2024, 08:23 PM
https://www.fool.com.au/2024/05/21/why-are-brainchip-shares-racing-higher-after-its-agm/
At the AGM 52.57% of shareholders voted against Adoption of Remuneration Report.
· Remuneration Report did not pass and company receives first strike
The two-strike rule. This rule gives shareholders the power to spill the board if they are not happy with the remuneration report. That is, ELIGIBLE shareholders have the power to ‘fire’ or relieve directors of their board positions.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668755-2A1450726?access_token=83ff96335c2d45a094df02a206a 39ff4
BrainChip – Results of Annual General Meeting held on 23 May 2023
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668759-2A1450729?access_token=83ff96335c2d45a094df02a206a 39ff4
(https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02668759-2A1450729?access_token=83ff96335c2d45a094df02a206a 39ff4)
BrainChip Responds to AGM Remuneration Report Resolution Results
• Remuneration Report did not pass and company receives first strike
https://www.youtube.com/watch?v=KLdT9VqYQxQ
(https://www.youtube.com/watch?v=KLdT9VqYQxQ)
CPA Two-Strike Rule - The Australian Corporations Act was amended in 2011 to give shareholders some power over executive remuneration. This is done in terms of the two-strike rule. This rule gives shareholders the power to spill the board if they are not happy with the remuneration report. That is, ELIGIBLE shareholders have the power to ‘fire’ or relieve directors of their board positions.
https://www.asx.com.au/documents/resources/listed-at-asx-winter-18-two-strikes.pdf Last AGM shareholders voted against Adoption of Remuneration Report and company received the first strike.
This AGM the Adoption of Remuneration Report was Carried so there was no second strike.
Voted for 281,798,976 66.59%
Voted against 141,383,726 33.41%
Abstained 87,536,752
Proxies for 233,633,912 Proxies against 140,962,730 Proxies abstained 83,207,536
Closed at 22c today, on 40m shares. Volume much larger than the usual 3m - 10m because of triple witching rebalancing on 3rd Friday of June, Sept, Dec and March.
BrainChip (ASX:BRN): Post AGM interview with CEO Sean Hehir
https://www.youtube.com/watch?v=AIGX2Qi6qdg
1:30 But the biggest takeaway and I really wanted to stress this is the confidence we have coming out of this year going into the next short period of time our ability to win. I outlined during the AGM all these things that I just discussed plus the fact that we've been down selected on almost all of our major engagements from multi competitors to just a few on all them. The fact that I personally meet in with C- level Executives of many large companies around the world. They wouldn't do that if they didn't view us as a viable strategic partner and the fact that we know that decisions are coming in a relatively short period of time gives us great hope of the future of this company.
4:07 I said it during the AGM we're competing events against companies that are larger with bigger brands and have been in market for many, many years that adds more time. We're holding our own in these competitions and we're excelling or making our down selection that tells us we're doing well, but that adds time as we establish our credibility in there. And lastly because the neural acceleration phase of chips is relatively new these are big strategic decisions for big companies.
BrainChip Holdings Ltd announces A$25m equity capital raising
· Company completes fully underwritten A$20m institutional placement (“Placement”) and A$2m sale of existing securities from LDA Capital (“Existing Share Sale”)
• Non-underwritten share purchase plan (“SPP”) to raise up to an additional A$3m
• Use of funds to support commercialisation of the Company’s AkidaTM 2.0 technology and development of the TENNs algorithm
• Current Put Option Agreement (“POA”) obligation with LDA Capital LLC (‘LDA Capital”) now fulfilled
• Appointment of Steven Brightfield as Chief Marketing Officer and two key advisors to newly reconstituted Scientific Advisory Board
The Placement, Existing Share Sale and SPP will be conducted at a price of A$0.193 per share.
The Placement and Existing Share Sale will comprise of approximately 113.4 million Shares to raise A$22m.
https://stocknessmonster.com/announcements/brn.asx-2A1537323/
BrainChip Holdings Ltd announces A$25m equity capital raising
https://stocknessmonster.com/announcements/brn.asx-2A1537326/
Investor Presentation
https://stocknessmonster.com/announcements/brn.asx-2A1537279/
Proposed issue of securities
https://stocknessmonster.com/announcements/brn.asx-2A1537283/
Appendix 3B - Proposed issue of securities
https://stocknessmonster.com/announcements/brn.asx-2A1537287/
Cleansing Notice – Share Purchase Plan
https://stocknessmonster.com/announcements/brn.asx-2A1537359/
Share Purchase Plan Offer
On Thursday after the capital raise announcement BRN closed at 20.5c up 0.5c, on 14.7m, $2.9m.
BrainChip Holdings Ltd Appendix 4C & Quarterly Activities Report for the Period Ended 30 June 2024.
https://stocknessmonster.com/announcements/brn.asx-2A1537324/
• Cash Balance as of 30 June 2024 US$10.9M
On 27 March, BrainChip issued a Capital Call Notice to LDA Capital to subscribe for up to 40 million BrainChip shares, as part of its commitment to draw down a minimum of A$12 million no later than 31 December 2024.
The capital call was closed on 28 June 2024 after the sale of 31.1M shares, net of the 8.5% discount. Proceeds received from the sale of shares were received in instalments over the capital call period with A$2.82 million received on 19 April and $5.565 million received after the close of the quarter on 3 July.
As reported separately to the market today, the remaining current obligation of $3.7M was fulfilled in conjunction with the capital raise, where LDA agreed to contribute all remaining unpurchased issued shares of 10.1M to the Placement Offer pool, in exchange for an “Early Buyout Fee” payment of $371k.
In late June BrainChip management reluctantly decided to shut down the Brainchip Research Institute (BRI) in Perth, Western Australia.
On 9 May the Company publicised that Pennsylvania State University (Penn State) had joined the BrainChip University AI Accelerator Program.
FINANCIAL UPDATE
The Company ended the June Quarter with US$10.9M in cash compared to US$12.9M in the prior quarter.
BrainChip reported net operating cash outflows of US$3.9M vs.US$4.4M in the prior quarter.
Cash inflow from customers in the current quarter totaled US$0.05M whereas the prior quarter reported US$0.09M.
The Company continues to experience long sales cycle times but remains optimistic based on the number of active engagements and level of interest from our prospective customers.
https://stocknessmonster.com/announcements/brn.asx-2A1537271/
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