Brn - brainchip holdings

[moka]

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/

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/announc...asx-2A1519756/
Top 50 Holders Report

[percy]

https://smallcaps.us14.list-manage.c...f&e=6c1ad5cc63

[moka]

Brainchip AGM today. Closed at 25.5c on 13m. Shorts 3.59%, 66.7m

https://stocknessmonster.com/announc...asx-2A1524370/
BrainChip – Results of Annual General Meeting held on 21 May 2024

https://stocknessmonster.com/announc...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]

https://www.fool.com.au/2024/05/21/w...after-its-agm/

[moka]

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/ap...df02a206a39ff4
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

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

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/res...wo-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