Ann: Trading Halt, page-108

While we are in wild speculation mode (to pass the time)...

What if:

They are having trouble kicking deals over the line because nobody is prepared to take the risk investing in a first to market new-technology from an unproven company (for example: safer to use inferior technology from an established technology provider than superior technology from a start-up. If things go tits-up you've got more chance of recovering from a big player like NVIDIA, IBM, INTEL, etc. and you won't lose your job for taking a punt).

So, one of their smaller customers has developed a winner (using Akida IP) but doesn't have the financial clout to bring it to market. BRN has decided to partner with them to make it happen - hence the cash-raise. If it is a game-changing technology that could really demonstrate the power of Akida then it would be a massive proof of concept and market validation. That would de-risk larger players adopting Akida.

How's that for pure speculation?

Or, it could just be a garden variety cash-raise to give them more runway.