Ann: Preliminary Final Report, page-6

First 6 Last

Share
Profile

Follow
monkeypig

391 Posts.

19

29/02/16

20:43

Post #: 17148015
Share

Originally posted by cafa ↑

' On 10 September 2015 BrainChip Holdings (formerly Aziana Limited) completed the legal acquisition of BrainChip Inc. via a newly wholly owned Delaware based subsidiary of BrainChip Holdings Ltd named AZK Merger Subsidiary Inc. and by way of merger in accordance with Delaware General Corporation Law. Under the Australian Accounting Standards, BrainChip Inc. was deemed to be the accounting acquirer in this transaction. The acquisition has been accounted for as a share based payment by which BrainChip Inc. acquires the net assets and listing status of BrainChip Holdings resulting in the BrainChip Group.'

Not being an accountant can someone please explain in accounting terms what BrainChip Holdings shareholders own? I assume that in reality they own shares in BranChip Group, or is there to be a resolution to do some smart trasnfer of ownership back to BrainChip Holdings the legal entity on the ASX that is listed.

The way it is worded it sounds like 'BrianChip Group' owns 'Brainchip Holdings'.
So the US company Brainchip Inc acquired BrianChip Holdings (qouted on the ASX and what SHs own) and became BrainChip Group.

Now if Brainchip could learn what this means then that would be a breakthrough.

Expand

how many science nerds did you know during your high school years that were good at English as well as science lol

BRN Price at posting: 24.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

What's causing the cost-of-living crisis, and how to navigate it

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%