“noun
1.
an agreement entered into by two or more parties for their mutual benefit, especially in a business or political context”.
“1. Engagement with Frontgrade-Geisler subsequent to half year end
2. Also in August, the Company signed two agreements totalling €190k for projects with Frontgrade Gaisler and Airbus Defense and Space to provide customers with AI capabilities for space applications using Akida 1.0 technology.
These two projects were initiated in response to a European Space Agency request for ultra-low power, neuromorphic, edge AI computing in space to enable future missions to the moon and beyond.
Due to the nature, timing and risk associated with these projects, it is not possible for the Company to estimate future royalty revenues associated with these agreements.”
What I find most challenging is the inability of some, present company excluded either through ignorance, anger, fear or defect of personality to put together the consistent factual narrative published by Brainchip for some years now that they are not permitted to publish on the ASX anything which does not constitute a material financial event.
Material has a number of meanings but it has been spelt out time and again by Brainchip that small one off payments will not cut the mustard where the value of future revenue from the deal cannot be reasonably calculated.
Having regard to this the CEO Sean Hehir said they were in the running on some commercial deals and they hoped they would conclude soon or words to this effect.
There is no doubt having regard to the definition of deal that:
1. Signing a commercial agreement with Frontgrade-Gaisler for a sum of money was and is a deal the future value of royalties are unable to be calculated;
2. Signing a commercial agreement with Airbus for a sum of money is a deal the future value of royalties are unable to be calculated.
I trust I have made it simple enough BUT IF NOT THE CEO SEAN HEHIR HAS DELIVERED TWO COMMERCIAL DEALS AS PROMISED one with Frontgrade-Gaisler and one with Airbus
If you are open to the available evidence Quantum Ventura offering Cyber security solution powered by AKIDA would constitute a third deal/agreement secured by the CEO Sean Hehir unless you think this was a random event over which Brainchip had no influence.
The encouraging point beyond the actual deals is that they are for AKD1000 technology both the chip and IP.
The CEO Sean Hehir has said that since the release of AKIDA 2.0 with TENNS & ViT that three quarter of their new customer engagements have been in respect of this technology.
My opinion only DYOR
Fact Finder
(20min delay)