The following is a reasonably comprehensive pulling together of publicly available facts about Brainchip and its activities of relevance to the current increased activity on the ASX and OTC.
The first extracts are ASX notifications commencing on 13 October, 2021 and concluding 9 November, 2021.It is now only the 14 November, 2021.I suggest that it is false to say that there hasnot been anything released by Brainchip which could account for the current up take in interest based upon these announcements.Some investors may jump the minute a company releases information but some myself included do not and will look at what a company is all about before taking action.This approach is often referred to as doing due diligence.
The next document is a video of a presentation given by Mr. Tony Dawe (Investor Relations at Brainchip) on 9 November, 2021 specifically directed at Chinese investors.Again the content of this presentation may have added to the likelihood of increased interest in Brainchip by investors.
The next included document is the press release regarding the quadrupling of Brainchip’s office space in the U.S.A. which includes the following statement by Anil Mankar “We’vereached an inflection point in which the need to find additional space tosupport our growth could no longer be ignored”. Again this press release and thereasons stated may have added to the likelihood of increased interest inBrainchip by investors.
Finally I have included a press release from Brainchip announcing the appointment of Integrous Communications in the USA on 14 July, 2021 together with a list of past events taken from the Brainchip website that the company has attended as part of the planned strategy to raise the profile of Brainchip around the world and to encourage increased institutional and investor interest.
I am reminded of the saying “after many years of hard work and dedication they were an overnight success”.
It is my opinion that what we are seeing here and in the overseas markets is a natural and reasonable increase in investor interest in a company which in the view of Pitt Street Research is significantly undervalued by about two thirds with a revolutionary product and announced commercial transactions and named Fortune 500 tier 1 early access customers including NASA.
It should also be remembered that in 2020 Brainchip secured Rob Telson from ARM and under his guidance as VP of World Wide Sales and Marketing have recruited a formidable sales and marketing team of former ARM employees.
I will now leave it here for you to read the following and decide whether this is a flash in the pan or a natural consequence of known facts.
My anonymous opinion only DYOR
FF
AKIDA BALLISTA
BrainChip Holdings Announces Second Amendment toFinancial Instrument Company has agreed to an extension of the Put Option Agreement with LDA Capital LLC Sydney – 13 October 2021: BrainChip Holdings Ltd (ASX:BRN, OTCQX:BRCHF), a leading provider of ultra-low power high performance AI technology today announced that the company has entered into a second amendment to the previously announced Put Option Agreement (POA) with LDA Capital LLC (LDA Capital). The Company and LDA Capital have agreed to an amendment that will provide the company with access to capital when necessary, until December 2023 and increases the total available funding under the agreement to AU$65M (Total Commitment Amount). This amendment allows the company to defer its remaining $5.3M draw-down obligation until 28 February 2022, which was previously due under the first amendment (“First Draw Down Period”) of the agreement expiring on 22 October 2021. Upon completion of the first drawdown period, a second draw-down period becomes effective immediately and requires the company to draw-down an additional $15M by 31 December 2022 (“Second Draw-Down Period”). A Third draw-down period, also with a $15M minimum draw-down obligation begins on the 1st January 2023 and ends on the 31st December 2023.
BrainChip Begins Taking Orders of Akida AI ProcessorDevelopment Kits • Brainchip to begin taking orders of two development kits both including the AKD1000 chip on a mini-PCI board • Enables customers to begin internal testing and validation of Akida’s high-performance, small, ultra-low power AI chip • Organizations can purchase an Akida development kit via www.brainchip.com. Sydney, Australia – 21 October 2021 – BrainChip Holdings Ltd (ASX: BRN), (OTCQX: BRCHF), a leading provider of ultra-low power high performance artificial intelligence technology, today announced BrainChip will be taking orders of two development kits for its Akida™ advanced neural networking processor, enabling partners, large enterprises, and OEMs to begin internal testing and validation of Akida’s high-performance, small, ultra-low power AI chip. Akida NSoC and intellectual property enable a wide array of edge AI capabilities that include continuous learning and inference. BrainChip is offering two development kits both including the AKD1000 chip on a mini-PCI board: an X86 Shuttle PC development kit as well as an ARM-based Raspberry Pi development kit.
BrainChip Holdings Ltd Appendix 4C & QuarterlyActivities Report for the period ended 30 September 2021 • Cash Balance as at 30 September 2021 US$23.9M • First batch of Akida1000 production chips delivered by Socionext • Testing and evaluation of chips underway prior to delivery to customers Sydney, Australia – 21 October 2021 – BrainChip Holdings Ltd (ASX: BRN, OTCQX: BRCHF), the world’s first commercial producer of neuromorphic artificial intelligence chips, today provides the Quarterly Activities Report in conjunction with its Appendix 4C lodged for the quarter ending 30 September 2021. CEO Statement CEO Peter van der Made commented, “The September Quarter marked another major milestone for BrainChip. With the delivery of the first batch of production Akida chips from our design partner Socionext, BrainChip is the world’s first commercial producer of a neuromorphic artificial intelligence chip. The Company’s two major objectives as we move forward are to focus on building out our sales and marketing organization in preparation for the official commercial launch of the AKD1000 chip and to continue investing in the R&D necessary to bring the next generation of Akida products to market in order to maintain our competitive advantage.”
COMMERCIAL AND OPERATIONAL UPDATE
Sales & Marketing The BrainChip Sales & Marketing team in the US has been expanded throughout 2021 as part of the Company’s global commercialisation strategy. The team is engaged in discussions and commercial negotiations with a broad range of global businesses about IP Licensing Agreements, chip and board sales and distribution agreements. These strategic negotiations are aimed at accelerating the expansion of our global market, engaging with more potential customers, and maximizing future revenue growth. The company will begin taking preorders of Akida AI processor development kits via the company website and will ship once internal testing and validation are completed. This is expected to accelerate the adoption of neuromorphic AI technology and expand our engagement with potential customers, product developers and researchers around the world. In addition to engaging directly with existing and potential customers, the Sales & Marketing team is engaging with broader audiences through presenting and attending selected technology industry conferences and events, where we are demonstrating the commercial applications of our Akida technology and generating numerous leads and sales enquiries. This is a key element of our commercialisation strategy and will continue into 2022. VP Global Sales & Marketing Rob Telson said, “We are very excited to engage with current and future potential customers. The feedback we’ve received has been entirely positive and the demand for information about our product is insatiable.”
New CEO Since the previous update, the Company has progressed its search for a new Chief Executive Officer and anticipates being in a position to announce an appointment once the process is finalized. The process has been conducted with a high-level of engagement from the Board with a strong focus on due-diligence, commercialisation and values alignment.
Engagement with global equity capital markets The Company is accelerating its engagement with global investors through the appointment of a US-based investor relations firm, Integrous Communications. This strategic engagement is focused primarily on the US market but is also generating significant interest from institutional and retail investors in Europe and the Asia-Pacific region. As part of the ongoing efforts to improve access to the US capital markets, the company has initiated efforts to pursue an American Depository Receipts (ADR) program. An ADR is a US trading instrument denominated in USD that allows a non-US issuer of securities to trade on a US trading system or exchange. Typically, one ADR will represent multiple shares of the stock listed on its home exchange. As ADRs are sold in the US, BRN shares will be accumulated on the ASX in a custodial account. The intent of this program is to provide access to US institutional investors who are unable to invest in foreign listed shares (ASX: BRN), US listed foreign shares (OTCQX: BRCHF) or in shares below a certain price point. The ADRs will be listed on the OTCQX. Once the application is approved, the company will provide an update to the market. The Company intends to file Form F-6 with the US Securities and Exchange Commission shortly. Approval is anticipated mid to late Q4, and the details will be announced to the market once effective. LDA Capital On 16 August 2021, BrainChip submitted a capital call notice to LDA Capital Limited and LDA Capital LLC (“LDA Capital”) in accordance with the Put Option Agreement (“POA”) (refer ASX announcements dated 13 August 2020 and 26 October 2020) to subscribe for up to 8.75M shares, resulting in a cash injection of US$2.8M. The Company also announced the following during the October quarter: 13 October 2021: BrainChip and LDA Capital announced a further amendment to the POA allowing the deferral of the remaining A$5.3M draw-down obligation until 28 February 2022. This amendment allows BrainChip to defer its remaining $5.3M draw-down obligation until 28 February 2022, which was previously due under the first amendment (“First Draw Down Period”) of the agreement expiring on 22 October 2021. Upon completion of the first drawdown period, a second draw-down period becomes effective immediately and requires the company to draw-down an additional $15M by 31 December 2022 (“Second Draw-Down Period”). A Third draw-down period, also with a $15M minimum draw-down obligation begins on the 1st of January 2023 and ends on the 31st of December 2023. CFO Ken Scarince commented, “The LDA Capital relationship provides BrainChip with the flexibility to finance our commercialisation strategy and our R & D investments without the burden of highly dilutive and expensive capital raisings on the equity capital markets. It provides uswith a competitively priced source of capital and the relationship has beenhighly beneficial for BrainChip. We now have sufficient cash to finance our operational requirements for the next 12 months with access to more if needed. We have agreed to extend the relationship with LDA Capital to the end of 2023 for that reason.” The Company confirms that shares will be issued in accordance with the agreement and only upon issuance of a Capital Call by the Company. Update to Top 20 Shareholder List Given the recent volume of share trading activity, the Company believes it is appropriate to provide investors with an update of our Top 20 Shareholder List. This will be lodged with the ASX as a separate document.
FINANCIAL UPDATE The Company ended the quarterwith US$23.9M in cash compared to US$17.7M in the prior quarter.
BrainChip Patent US11,151,441 for “Spontaneous MachineLearning and Feature Extraction” granted • Patent US 11,151,441 “System and Method for Spontaneous Machine Learning and Feature Extraction” is the fifth foundational patent awarded to BrainChip • IP security remains a strong focus for preserving our global competitive advantage Sydney – 21 October 2021: BrainChip Holdings Ltd (ASX:BRN, OTCQX: BRCHF), the world’s first commercial producer of advanced neuromorphic artificial intelligence chips today announced that the US Patents and Trademarks Office has granted a US patent for spontaneous machine learning and feature extraction. BrainChip CEO and co-founder Peter van der Made said, “This latest patent is one of five foundational patents we have been granted since 2008 to protect our intellectual property rights and to ensure we maintain our global competitive advantage in the field of neuromorphic artificial intelligence. This patent is intended to protect the unique ability of the Akida chip to learn in real time, rather than being trained with many samples. As the world’s first commercial producer of neuromorphic artificial intelligence chips (Akida1000), we must maintain our lead over our competitors by ensuring our unique and revolutionary technology is protected and secure.” Key features of Patent US 11,151,441 • Embodiments of the present invention provide an artificial neural network system for improved machine learning, feature pattern extraction and output labeling. The system comprises a first spiking neural network and a second spiking neural network. • The first spiking neural network is configured to spontaneously learn complex, temporally overlapping features arising in an input pattern stream. Competitive learning is implemented as Spike Timing Dependent Plasticity with lateral inhibition in the first spiking neural network. • The second spiking neural network is connected to the first spiking neural network through dynamic synapses and is trained to interpret and label the output data of the first spiking neural network
BrainChip granted two new US patents • Patent US11,157,800 “Neural processor based accelerator system and method” • Patent US 11,157,798 “Intelligent Autonomous Feature Extraction System Using Two Hardware Spiking Neutral Networks with Spike Timing Dependent Plasticity” • One further patent expected to be granted soon Sydney – 27th October 2021: BrainChip Holdings Ltd (ASX:BRN, OTCQX: BRCHF), the world’s first commercial producer of neuromorphic artificial intelligence chips today announced that the US Patents and Trademarks Office (USPTO) has granted two new US patents. The patent grant became official on the USPTO web site at 12:05pm on the 26th of October. BrainChip CEO and founder Peter van der Made said, “These new patents, incremental to the patent that was granted last week, and the four patents previously granted to BrainChip, represent a significant milestone in protecting our IP and “future proofing” the development of forthcoming generations of Akida neuromorphic AI products. The Akida technology and chip are now protected with seven patents. We intent to increase our patent portfolio significantly over the next few years as we continue to research and expand the horizon of Artificial Intelligence capabilities”. Patent US 11,157,800: This patent protects a configurable spiking neural network based accelerator system and a method for performing functions associated by a configurable spiking neural network. Key Features: • The accelerator system includes artificial spiking neurons and dynamic synapses that perform dedicated neural computation tasks • Configuration parameters set by a host computer, configure the spiking neural network and thereby define its function. The configuration parameters include the connections between neurons and synapses, neuron types, neurotransmitter types, and neuromodulation sensitivities of specific neurons. All subsequent neural processing is performed by the artificial spiking neurons and synapses in hardware. • The inference and efficacy of connections between neurons and synapses can be determined by autonomous learning by the digital hardware logic operating without software involvement.
BrainChip appoints Non-Executive Director Antonio J.Viana as commercial and operational consultant • To assist management by providing expert advice on: o Global marketing & distribution channels o Executive hiring & organizational strategy o IP Licensing and Revenue Models o Development of a Certified Solution Providers (CSP) network Sydney, Australia – 2 November 2021 – BrainChip Holdings Ltd (ASX: BRN), the world’s first commercial neuromorphic chip producer, today announced it has signed a Consultancy Agreement with Non-Executive Director Antonio J. Viana. The Consultancy Agreement recognizes Mr. Viana’s unique skill set. We believe that the limits of this agreement are within the boundaries where the independence of a Non-executive Director are not compromised. Key commercial terms of the Agreement: • Rolling six (6) month contract for a period of four (4) years; • One million Restricted Stock Units (RSU’s) to be issued subject to receipt by the Company of the approval of its Shareholders at the next Annual General Meeting, vesting at 25% annually, in lieu of payment, reverting to $6000 USD per month if shareholder approval is denied; • Scope of work will evolve and be mutually agreed; and • Contract can be cancelled by either party. This announcement is authorized for release by the BRN Board of Directors.
BrainChip Holdings Ltd Launches American DepositaryReceipt Program • BrainChip’s American Depositary Receipts (ADRs) begin trading on OTCQX under ticker symbol BCHPY on 03 November 2021 (US) • Instrument aimed at attracting US institutional investors Sydney – 03November 2021: BrainChip Holdings Ltd (ASX:BRN, OTCQX: BCHPY), a leading provider of ultra-low power high performance artificial intelligence technology and the world’s first commercial producer of neuromorphic AI chips, is pleased today to announce the launch of its sponsored Level 1 American Depositary Receipts Program (ADR Program). Trading will begin via the OTCQX Be
BrainChip Completes Testing Production Version of theAkida Chip • Confirmed that functionality and performance testing of the AKD1000 production chips has been completed • Latest iteration has been optimized for lower power consumption than the original engineering samples Sydney – 09 November 2021: BrainChip Holdings Ltd (ASX: BRN), (OTCQX: BCHPY), a leading provider of ultra-low power, high-performance artificial intelligence technology and the world’s first commercial producer of neuromorphic AI chips, today confirmed that functionality and performance testing of the AKD1000 production chips has been completed, which showed better performance than the original engineering samples. As part of the continued development of its AkidaTM Neuromorphic System-on-Chip (NSoC), BrainChip tested a production version of its AKD1000 chip with several neural network applications, including object classification, keyword spotting and spiking neural networks. The improved performance and lower power consumption results were achieved through a better layout and some minor design changes to the design, which were recognized after previous testing of earlier engineering samples. The Akida production chips were manufactured by TSMC in Taiwan in a 28nm process. The chips are now being integrated into complete PCIe and Mini-PCIe boards. These boards and evaluation systems are being shipped to Early Access Customers for further testing and verification to see how they work as part of customers’ products. “This is another major milestone for the company as we migrate from our research and development phase into full production and commercialization of the AKD1000 chip and the Akida IP,” said BrainChip CEO, Peter van der Made. “We have already seen significant uptake by Early Access Customers looking to leverage the clear advantages that Akida offers beyond the capabilities of other AI products. Akida is a ‘Next Generation’ AI device that offers real-time learning on chip and operates at a very low power consumption.” BrainChip is currently inviting partners and potential customers to order development kits for building Akida-based applications and solutions, and to learn how to bring artificial intelligence to the edge in a way that existing technologies are not capable. The solution is high-performance, small, ultra-low power and enables a wide array of edge capabilities. The Akida NSoC and intellectual property can be used in applications including Smart Home, Smart Health, Smart City and Smart Transportation. These applications include but are not limited to home automation and remote controls, industrial IoT, robotics, security cameras, Page | 2 sensors, unmanned aircraft, autonomous vehicles, medical instruments, object detection, sound detection, odor and taste detection, gesture control and cybersecurity. Organizations can purchase an Akida development kit via shop.brainchipinc.com Or via the Buy Now button at www.brainchip.com .
https://youtu.be/yzRFSdeH-FY
Tony Dawe Chinese investor presentation on 9.11.21 where he states at 10.36
“We are excitedto be announcing soon some new commercial agreements with some of ourcustomers.”
BRAINCHIP QUADRUPLES U.S.HEADQUARTERS SPACE
Aliso Viejo, Calif. – November11, 2021 – BrainChipHoldings Ltd (ASX: BRN), (OTCQX: BCHPY) a leading provider of ultra-low power high performance artificial intelligence technology and the world’s first commercial producer of neuromorphic AI chips, today announced it is moving its U.S. headquarters to larger facilities in order to support expected customer growth as the company continues to move toward commercialization of its Akida™ event domain neural processor and comprehensive development environment.
BrainChip’s new 10,000 sq. ft. (929sq. m) headquarters are located in Laguna Hills, California. The new officeswill house the company’s development, engineering, sales, finance, andmarketing teams. By expanding its physical footprint now, BrainChip iswell positioned to scale the services and processes it is putting into place tosatisfy expected customer and support infrastructure needs. The date of themove is November 15.
With the recent announcement of theavailability of development kits for its Akida™ advanced neural networkingprocessor, BrainChip is anticipating a ramp up to production status ofneuromorphic-based edge AI applications. The company’s expansion ofoffice space reflects the expansion of strategic alliances and businessdevelopment underway to accelerate commercialization of BrainChip IP.
“We’ve reached an inflection point inwhich the need to find additional space to support our growth could no longerbe ignored” said Anil Mankar, BrainChip co-founder and chief developmentofficer. “Whereas the trend for many businesses today is to shrink theirphysical footprint, it just makes sense to move our headquarters to a facilitythat can support the growth of our development, production and sales teams. Welook forward to having the room necessary to support our goals of deliveringthe next generation of AI at the edge to markets throughout the world.”
BrainChip’s Akida brings artificialintelligence to the edge in a way that existing technologies are not capable.The solution is high-performance, small, ultra-low power and enables a widearray of edge capabilities. The Akida (NSoC) and intellectual property can beused in applications including Smart Home, Smart Health, Smart City and SmartTransportation. These applications include but are not limited to homeautomation and remote controls, industrial IoT, robotics, security cameras,sensors, unmanned aircraft, autonomous vehicles, medical instruments, objectdetection, sound detection, odor and taste detection, gesture control andcybersecurity.
BrainChipEngages Integrous Communications as Investor Relations Advisor
July 14, 2021 08:55 PM Eastern Daylight Time
ALISO VIEJO, Calif.--(BUSINESS WIRE)--BrainChip Holdings Ltd (ASX: BRN), (OTCQX: BRCHF), a leading provider of ultra-low power, high-performance artificial intelligence technology, today announced that it has retained Integrous Communications (“Integrous”) as its investor relations advisor. Integrous will lead BrainChip’s financial communications and strategic investor relations initiatives.
BRAINCHIP PAST EVENTS 2021
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MicroCap RodeoFall Harvest Best Ideas Conference October 5, 2021 1:30 pm US PT
AI EverywhereForum: September 28 – 29, 2021 (Virtual)
LD Micro MainEvent October 12 – 14, 2021
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Edge ComputingWorld 2021: October 12 – 15, 2021 (Virtual)
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InternationalInvestment Forum October 14, 2021
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AI HardwareSummit: Fast, Efficient and Affordable AI – September 13-15, 2021
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Linley FallProcessor Conference – October 20-21, 2021
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Join BrainChipat OTC Market Group’s International Virtual Investor Conference June 17, 2021
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Edge AI &Vision Alliance Summit May 25-27, 2021
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Linley SpringProcessor Conference 2021 – April 19-23, 2021
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BrainChipPresents: Data Science Week 14 May 2021
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Join BrainChipat TinyML Summit March 22 – 26, 2021
(20min delay)