LJD, I'm the first to jump on the company if I think they are wrong, but I genuinely think in this instance, the problem is that the companies we could potentially have deals with, do not want their name out there in the public domain. I think these companies want to maintain their market lead and don't want their competitors to know they are using BraincChip.
If you believe this is true (and I do), then BRN are between a rock and a hard place. If the potential client/company says we'll do a deal with you but you can't announce our name, and the ASX say, if you want to announce a deal you have to say who it is with, then what do BRN do??? I assume they will want to list in the US where the rules around continuous disclosure are not the same as the ASX.
I don't like how BRN have gone about this so far and it could have been handled very differently, but I do believe it will be positive for the company and shareholders in the end.
Note: I realise not everyone will be happy (eg people who are concerned about holding BRN in there super fund, small holders etc etc).
BRN Price at posting:
21.0¢ Sentiment: None Disclosure: Held
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