Sounds about right.
I emailed BRN on the 15th Sept to ask about any potential chip benchmarking reports and to clarify EAP timelines and how/when revenue would be realized (what conditions did BRN need to meet before payment is made). Ken responded and clarified that the EAP revenue was split into 2 parts with a larger portion being upon delivery of the boards and the second part related to engineering support. In regards to the status of the boards, he responded with:
"the next few weeks will be spent on firmware integration which needs to be done before the boards can be shipped. I believe they will announce when the first board goes out. This is the main focus at this time. Some of the EAP customers are anxious to get started. It’s great to see."
Since then, the news about the establishment of the Software Development Centre in India indicates that they are indeed focusing on the firmware and driver side of things to support the EAP and further prepare for commercialization. Better to secure the existing contractors as employees rather than risk them leaving and disrupting any commercialization timelines. As to shipment of the boards...I think we will need to wait for an official announcement.
If the EAP customers are indeed both anxious to get started and unhappy about being named prematurely, this seems to indicates they want first mover advantage in their respective industries and hopefully means they wont drag their feet with the testing, and evaluation efforts of the boards. That said, I expect any announcement about boards being shipped to contain the bare minimum required by the ASX i.e. it might just simply say that the boards have been shipped without naming anyone or providing much more information. Similar to the validation announcement which basically said: "we tested the chip and it works as expected".
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Sounds about right. I emailed BRN on the 15th Sept to ask about...
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