Just been looking at the capital call notice again (the final one that had to be corrected by the chimp now employed at BRN to proof read announcements)
Up to 25 million shares (including the 9,243460) already on LDA books
As stated available funding under the agreement is $15,680,696.000 ($15 MIL)
So if Brainchip wants to get the maxiumum available funding.............that equates to 25 million shares being sold at the average price of62.7 CENTS per share
As stated in the capital call announcement they also have a shorter timeline for some fundingthe company is committed to drawing down a minimum of $2,767,457.000 no laterthan 31 December 2023.
So just say LDA sell the shares for average of 20 cents each, to draw down (REACH) this $2,767,457.000 million of funding by then end of this year LDA would have to sell 13,837,285.000 Million shares.....
If/when this happens this will leave 11 Million shares (11,162,715,000) shares left for LDA to sell next year ................
Total funding $15,680,696.000 Million MINUS this shorter term funding of $2,767,457.000 EQUALS $12,913,239.000Million Left to fund next year
With only 11,162,715.00 shares left to sell next year.......... to get the available funding they will need an average share price of $1.1568
Of course all the above will be incorrect if we get a price sensitive announcement before the end of the year that increases the share price of BRN..........
To me it seem pretty remote that BRN will get anywhere near the available funding of 15.6 Million dollars without the benefit of a price sensitive positive announcement to increase the share value IMO
Bring on a IP licence agreement please Sean.........
I wont ask Antonio.......He's too busy counting all his RSU BRN have been giving him for no performance conditions............
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Just been looking at the capital call notice again (the final...
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