Verbatim from the interview Sean Hehir did with Marc Kennis after the AGM later in that day:
"The biggest takeaway (and) I really want to stress this, (is) the confidence we have coming out of this year going into the next short period of time (is) our ability to win.
We know that decisions are coming in a relatively short period of time. This gives us great hope for the future of BRN".
So the question I have is regarding the "coming out of this year" part, does Sean mean coming out of FY 23/24, or does he mean end of CY 2024. The AGM was on 23/5/24 which close to end of FY 23/24. So if that was the case then we could be in that period of time after 30 June EOFY.
Or is he referring to later in the year, I have just sent T. Dawe an email about this. so I will inform if I receive a response, because this is verbatim and I replayed the interview to be crystal clear re the accuracy of my notes.
Either way I remain a comfortable holder, whilst not happy with the non communication on the ASX announcements platform, which I have spoken to previously, however for me the jury is still out on Sean's performance in terms of contracts or revenue.
He will have been in the CEO role for 3 years in Nov 24 I believe, not long after he took up the CEO post he put forward a 5 year plan, so he is about half way through that plan. The decision to go to sell IP and the introduction of Akida 2 has IMO added another chunk of time to his plan. So he is now beginning to move into the timeframe where realistically you might be starting to see some results, but IMO we are just getting to the very beginnings of that scenario.
In the meantime Sean has put together an impressive eco system, where there was nothing before (no disrespect to LDN) but the ecosystem was Sean's idea, and a necessary vehicle to assist the adoption of a brand new tech that most in the industry had no idea of how it would be used/implemented.
Some posters here get it, but I know many do not, but for a relative minnow to introduce a new game changing tech up against the tech titans who control and dominate this industry is no mean feat, that in itself would be a massive achievement, forget the game changing tech, which would (is) only make the doing more difficult.
I think Sean despite his shortcomings has taken on a serious challenge, I am not one for changing horses midstream, and I have read so many criticisms of the man here, but nobody in their right mind would take on this job without an immense sense of belief in themselves, and while Sean does not come across that well as a public speaker, I believe the Board (Including PVDM and Anil) felt that this guy had some go in him, my own sense of it is that Sean is a fierce competitor.
Time will bear it out one way, or the other, if Sean fails (and he would be well aware of this) he won't be getting another CEO role anytime soon. If you sack him you have to bring in someone else, who will no way do this job for anything less than what Sean is getting (Sean may be considered over paid compared to Australian CEO's but he is not overpaid compared with Silicon Valley CEO's at all), so you bring in someone new, who would want to do things their way and they may turn out to be no good or they will need even more time, really I would stick with the devil I know on the basis that IMO he has done quite well, if he hasn't we will know by this time next year, and that's it.
I will also remark about the reason so many are unhappy here, and that is the SP. I am in here for 9 years but I am in the green, although I've bought as high as 29c. So it's been a long time, so much longer than I had thought, hoped it would be, I mean the tech is so amazing it's going to go to the moon fast. Well it hasn't, it has been a roller coaster, but I have been learning along the way
(I hope), up to 96c from .032 in 2020, 36c to $2.34 off Mercedes talking.
From 96c down to 32c in 2020 gave some good insight to what could happen from $2.34, without announcements in quicktime the price would certainly not hold up, and this was just after the appointment of a new CEO who wanted to implement a 5 year plan. Anyone who bought in over 50c was taking a big punt, long term support was around 38c, I have a personal friend who bought @80c we talked about the pros and cons and he made his decision.
Some people may not see it my way, and they would be entitled to their view, but BRN was always a highly speculative punt, and it still is, there are no guarantees here whatsoever, but I am not a fan of the whinging and the finger pointing, there are people wearing large losses here and I am most certainly glad I'm not, but I have losses on other things. I have over 9 years not had the opportunity to invest in some other things which have done well, I made the decision to hold here and I continue to.
The vibe for many here is; chucked in the towel , or virtual capitulation for others, or angry and frustrated; but it's that time of the year when some teams are vying for big wins, so in a way you could perhaps liken the scenario here at BRN land as: it's early in the last Qtr, we're behind and need to lift, so I choose to certainly go hard because I am in it to win it. But if it's all too much, then it is time to get out, and GLTA apart from those who just continually post negative rubbish.
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