“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.
My point is that the capital call is to be used on billable items. If it's $12 Mill of ML programming and solutons, we need to bill this out at $36Mill, OR a part on an IP deal.
If it isn't then what are we doing? It's just $12Mill of sharehlders equity flushed down the toilet. If the board can't/won't say how the capital raising fits into the business model (gift to prospective clients vs a part of an IP deal under NDA) we need to vote no.
Not questioning the board helps neither us shareholders, nor the directors.
BRN Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
(20min delay)