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Ann: BrainChip Evaluates Redomiciling to US, page-313

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LJD

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01/03/25

16:40

Post #: 78091965
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Originally posted by Fact Finder: ↑

"The early buyout of LDA agreement amount of $371,000 was omitted from the annual report - LJD"

I had hoped you would calm yourself and realise that the amount of $371,000 was never going to appear in the just released Annual Report.
Apparently that not happened as you have returned to it again today to support an argument that the Board has lost your confidence and should be replaced.

So just as I helped you with your mistaken view regarding being able to access recently filed patents the reason you did not and will not find the $371,000 Australian dollars in this Annual Report is because it is reporting in American or US dollars.

If you go through the Annual Report you will find at least two or three mentions of amounts as 'Other losses' for US dollar amounts that could be this payment to LDA Capital but as I do not have the date used to calculate all the amounts from AU to US I cannot assist you further and would suggest that you make contact with the Company and ask them where it appears and how much it is in US dollars.

Knowing the exact US dollar amount however might not help you because it was a one off non recurring expense so it could also be lumped in with other amounts of a similar nature that do not need to be itemised. If this is the case and as you have lost all confidence in the Board you are unlikely then to believe that it is part of that greater amount.

What you also seem to have overlooked that unlike a local coffee shop or a wage and salary earner end of year financials Brainchip's accounts are audited and the auditors have provided a certificate to the effect that they are accurate and disclose the true position of the Company.

So even if you were correct in your assertion that the $AU371,000 had been left out the head that would need to roll is that of the Company's independent auditors. For even if the auditors are in error it would be a stretch to suggest that their simple mistake was such as to cause actual reasonable shareholders to lose all faith in the Board and call for their replacement.

After all the only reason you and I know about this expense exists is because the Board of Directors authorised its disclosure at the time to all shareholders so they have clearly acted with complete transparency.

My opinion only DYOR

Fact Finder

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It may surprise/disappoint you that I do not blindly believe everything you say.

The amount of the early buyout of LDA agreement, $371,000, is a finance expense, and I simply cannot believe you are trying to mislead people into thinking otherwise.

You are even admitting this when you wrote (So even if you were correct in your assertion).

It was not even mentioned with the other LDA information in the annual report, so as a result, it looks like it was not in the books to begin with and the auditors did not have access to the data.

Last edited by LJD: 01/03/25

BRN Price at posting: 21.0¢ Sentiment: None Disclosure: Held
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