Ann: BrainChip Evaluates Redomiciling to US, page-184

I have some issues with the fast pace this is being introduced and what BRN are saying/ not saying.

My preference would be for a duel listing in America and retain the ASX listing. They have said themselves that majority of BRN shareholders are retail - is that because we are the only ones that have been supporting the Company. So reciprocate and provide support for us retail investors. If a Company the size of Afterpay can support their shareholders with a duel listing then why not BRN?

They talk about the adverse cost of having a duel listing. Surely the ASX cost would be the same for a $10 million dollar Company as a 1 billion dollar Company. They then talk about disclosure issues in Australia. Surely BRN have higher disclosure requirements at present with BRN having no contracted customers and no income. Any partnership or contract involvement at present needs to be informed to the market because it could/would have an effect on the share price. We have already seen that happen with Mercedes. Once a few contracts are announced then, unless it was major announcement, their disclosure requirements would not be as stringent. I do not see other Top 300 companies with customers and cashflow having to disclose everything they do.

Majority of my holdings are held in my SMSF and in pension mode it is not taxed. With a sole America listing what American taxation requirements will come into play? I am yet to check with my Accountant about whether my SMSF holding will have American taxation on any dividends or share sale funds before proceeds are remitted to Australia.

Don't American investors already have a facility to invest in BRN in America - but they do not seem to be interested enough to affect the share market price to date.

With reference to the share base being mainly Australian retail, surely that would be because BRN does not meet the requirements for the corporate or super funds to invest their customer's money - it has no customers and no income. Surely that will change once contracts are signed and income starts to be received.