Whom do you think should take the reins ?
- Someone trustworthy, someone that has real connections and flair. If this is a 'disruptive' technology, it needs a disruptive type personality. Not an old accountant-type guy that believes webinars are cutting edge.
What really frustrates you with Lou's performance/behaviour ?
- No delivery of success, too old for a brand new technology, no flair, has no connection with the shareholders, has made too many big promises and ignores the ones he doesn't deliver on. Overpaid. Stacked the Board with mates and family and then issued himself way too many shares for a minimal and un-closed (as yet) deal.
What was your view of the last Chairman ?
- Lou was the last Chairman; see above, but add to that that he failed on appropriate corporate governance. Only started looking for a replacement when the shareholders were on the verge of revolt.
Do you have an opinion of why Ryan Benton, upped and left rather quickly ?
- Nope, but probably went against Dear Leader and got ousted. (I imagine it was a bit like the Red Wedding.)
Do you believe in Peter and his expanded team of World Class engineers ?
- In so much as they have a product we assume works. Certainly seem the goods. Don't necessarily believe he knows whats best for building a company, he gave away so much equity early on to people that aren't even around any more. Doesn't seem a good judge of character. I can imagine like a lot of the tech posters here, as soon as there is some sort of conflict he hides in his lab (or as in the case here, posts an article about SNN's).
Do you believe in SNN and the alleged potential of Akida NSoC ?
- Yes, but as a realist a good product is just that, potential - for it to be a commercial success it needs to be commercially successful. The Leyland P76 failed, (that's the best example I can think of right now, and although its tongue in cheek, surely I'll be crucified for mentioning it..). For years we all laughed about how big oil was burying alternative energy and it took someone like Elon Musk to finally stick it to them. We haven't got an Elon Musk, but we are competing against technology companies that are probably as big as big oil with billions invested and thousands of employees to sack if they just up and change their minds about developing their own tech. I know some are holding on to a takeover ideal to bail them out, but its not coming. Better to wait for it to fail and make an offer to the administrators, otherwise they will keep throwing money at their own tech. If some guy in WA can invent this, surely with time and money its possible for someone else to do it.
Do you believe we have been fed a pile of fluff over the last 3 years ?
- Yup, the share price tells the story. But so does the newsflow. What came true so far? Big German car manufacturer? Big chipmaker? Any deal of substance? Big revenue? Akida ready yet? On silicon yet?
Do you believe a robotic program has/is trading in BRN stock daily ?
- Nope, BRN is too small. I believe that some traders are using averaged orders to buy/sell, giving the same appearance by way of a bunch of smaller orders. But if there were any decent HFT's or hedge funds or even any sort of fund at all, at some point to make it worthwhile they would need to show up in the Top 20, and there aren't any.
Note: Its not all bad. Only a few months to the AGM and there'll be a whole new Board. Minimal, undisclosed, "temporary" paycuts and a new Chairman won't save them. Nighty night!
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