Brn - brainchip holdings

[moka]

Brainchip closed at 36c on Friday 16^th, 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://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/

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.

[moka]

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

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.

[moka]

On 25 January Brainchip released Appendix 4C & Quarterly Activities Report for the Period Ended 31 December 2023.

https://cdn-api.markitdigital.com/ap...5533-2A1501244

• 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/ap...2641-2A1469213

[Aotea]

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...

[moka]

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.

[moka]

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/

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/

APPENDIX 4E PRELIMINARY FINAL REPORT
https://stocknessmonster.com/announcements/brn.asx-2A1507487/

ANNEXURE – KEY TO CORPORATE GOVERNANCE DISCLOSURES
https://stocknessmonster.com/announc...asx-2A1507489/

[moka]

Brainchip Roadshow - Virtual Investor Roadshow held on Tuesday 27 Feb.

https://www.youtube.com/watch?v=v2lq8lOvfRc

Investor Presentation.

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.

[moka]

Akida AI technology launched into space.

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.

[moka]

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 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.

[moka]

Closed yesterday at 34c on 6.11m - $2m

https://stocknessmonster.com/announc...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”.