BRN - one of a kind ?, page-78

It seems there is no doubt that Milestone 2 has been achieved as per the terms of the performance rights in the AZK Prospectus from 18/08/2015, available on Aziana web site.
http://www.aziana.com.au/investors/announcements/

See page 116
Class B Performance Rights: upon Aziana announcing on the ASX that BrainChip has implemented the race car demonstration in hardware to visually illustrate the capability and scalability of BrainChip’s SNAP technology to prospective licensees (Milestone 2) (see section 8.2(g)(i) for further information);

That said, until any of us become potential licensees, I expect mine (and others) expectation to see a video's or laboratory evidence probably will not eventuate in the near future. It may not even occur in the medium term to reduce putting at risk our IP (obtained, planned and developing) which is and will be the life blood of our company.

I do however like the potential that Milestone 4, may be achieved before Milestone 3.

See page 117
Class D Performance Rights: upon Aziana having announced to the ASX that BrainChip has executed an unconditional binding licensing agreement that has an upfront payment of no less than $500,000 (Milestone 4).

The most recent update on Milestones was in the investor presentation, did not mention Milestone 4. (released on the 5/10/2015), other than the line "and were ready to chat with Tech Partners".

The most recent update on the achievement of MS2 on the 5/11/2015 contains the forward looking indicator as follows:
"As stated in past announcements we have held discussions with a number of Fortune 500 companies who not only assisted in the design of this milestone (MS2) but also expressed an interest in partnering with BrainChip to commercialize the technology. Achieving Milestone 2 provides the catalyst to continue
discussions with those companies keen to leverage the benefits SNAP offers them. We will continue to deliver further enhancements and updates to the SNAP model that will illustrate the many additional benefits SNAP has to offer.”

So what I believe we need is more searching on whom those Fortune 500 companies may be and indicators that expressions of interest that are materialising, so can have a positive Whale Oil Beef Hooked moment. The SP will react accordingly.

IMO and DYOR yada yada.