Ann: Milestone 2 Achieved, page-11

30 October 2015 - For ASX Release
BrainChip Achieves Milestone 2 – A Hardware-only Spiking Neural Network (SNN)
BrainChip Holdings Limited (“BrainChip” or “the Company”) is pleased to advise that it has successfully achieved ahead of schedule its second milestone, the creation of a hardware- only version of its patented and proprietary autonomous learning Spiking Neural Adaptive Processor (“SNAP”) technology.
This significant milestone was achieved via the development of a BrainChip SNN (Spiking Neural Network) working on a Xilinx T2000 FPGA board (Field Programmable Gate Array). FPGA’s are the precursor used to assess new ASIC (Application Specific Integrated Circuit) designs before committing to a silicon-based microchip, that BrainChip anticipates its future technology partners will develop for use in a vast array of potential products.
Highlights

• Extremely fast processing power confirmed.
• SNAP autonomously learned to avoid the edges of the track in 0.89 seconds, whilst executing 3,571,430 neural update cycles.
• Achieved a neural update rate of 0.25 of 1 microsecond - (0.25 of 1,000,000th of a second).
• Scalability now enabled.
• Demonstrates the disruptive features and benefits of SNAP.
• BrainChip now in a position to demonstrate SNAP to potential development partners with the view to securing licensing and royalty based contracts so that SNAP can be fully commercialized.
  Milestone 2 is a significant event for the company and its shareholders, as it clearly demonstrates the disruptive features and benefits of this technology.
  An extremely important achievement of milestone 2 is it enables the scaling of the patented SNAP design to much larger SNNs, that can be configured to potentially solve previously unsolvable problems.