Ann: New Capital Call Notice under continuing agreement with LDA, page-85

Please understand , it is not in BRN’s or LDA’s interest to reduce the VWAP $ .

Conditions apply under this agreement . Brainchip set a floor price and daily volume is restricted at the lower floor price . You will find similar clauses within the PVDM and LDA agreement .

14/01/22 Call notice
2022 total obligation $20.3 M ( $5.3m , prior FEB28 + $15m , prior Dec31 )

15,000,000 collateral shares provided by BRN to LDA .
2 set periods.
First period , $5.3m , VWAP ? , BRN 90% , LDA 10%
Second period , $ ? , VWAP ? , BRN 91.5% , LDA 8.5%

Available funding 2022 / 2023 , $50.3M ( minimum commitment $35.3M )


Please understand , it is not in BRN’s or LDA’s interest to reduce the share price , both parties take a percentage , the higher the better .

Example ,
15M shares @ $1.00 = $15M
15M shares @ $1.36 = $20.4M ( fulfills 2022 minimum obligation )
15M shares @ $1.80 = $27M


Now knowing that both parties will benefit from a higher share price and VWAP , maybe like me , you will also start to think about BRN dropping the mother announcement ( s ) during this period . Mercedes excited Europe investors , maybe it’s time BRN excite our US investors .



All in my opinion ……