Tech a question for you in your discussions with the company
Has someone been asleep at the wheel of our US based Directors by allowing Akida Development Environment to be exported whilst applying for an export licence for the Akida development Environment. as per grant of same in ASX Announcement. Our US based Directors should been aware of the implications of the Export Control Act of 2018 and the implications of the Advance Notice to publish regulations relating to AI and SOCs and Machine Learning and other emerging and foundational technologies.
Fortunately the EAR99 grant to BRN and subsequent public global release of ADE will mitigate the risks substantially it appears that reporting of each export will still be required with the EAR99 designation.
Also HiKVision I hope is a company we are not dealing with as they seem to have been added to the US Entity List that requires a Licence.
Now I think that these issues will be worked through with bureaucrats as EAR99 clearly signals no real concern with the export of the technology and any faux pas can usually be dealt with through with officers provided relationships through our lawyers are good.
Taking account of all of my concerns it raises the broader Governances issue with introducing new technology in a changing US trade environment that takes years to bed down DO WE HAVE THE RIGHT SKILLS on the BOARD.
I have no issue with the current technical skills on the Board but I think a new Chair with strong Government relationships may be required to9 navigate these stormy seas.
The AGM will be in Sydney as usual and I am strongly considering "driving" up there for it to air these concerns and hear managements response. ie assess management like rating agencies and SEC do when considering foreign entities to raise capital in US. ps been through this several times
Commercially we will be fine although a bit slower than I want but that is the environment we are in now in Trump USA. Governance and Board skills matrix needed over next 3-5 years is an issue in my mind and hopefully the Boards I am not convinced we have the optimal mix and we need a bigger Board !!!
Normally I would not air these views but I am a committed long term investor and I think many here are also.
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