Questions for management

These are the questions I would be keen to have answered before investing. I'm concerned that there are a lot of investors like me that believe in the technology and want to see if commercialised for the sake of the human race, but that there are many instances of class-leading technology being mis-managed to the point of failure.

1) What steps have you taken to introduce large technology funds to the share register? As at the 2017 Annual Report there are zero. There are much smaller companies with large investors; does this imply that they are not aware of the company or that the tech is not as good as it seems?

2) What steps did you take to place the large line of stock you sold with investors, if any? Did you consider the effect it would have on the share price and determine that the best way to sell a large volume of stock was a few days before Christmas in a nervous market, all in one day?

3) Did you "execute a Commercial Agreement with GPI inNovember 2018 in anticipation of ATS installations in 2019" as per the September quarterly report? If you did/did not, why was this not announced to the market?

4) Did you execute a "first commercial agreement with a large surveillancemanufacturer (as) expected by year end 2018" as per the September quarterly report? If you did/did not, why was this not announced to the market?

5) Did you "move to an FPGAhardware implementation of Akida during the fourth quarter of 2018 for internal use" as per the September quarterly report? If you did/did not, why was this not announced to the market?

6) Would you consider the success, failure or delay of the above points 3, 4 & 5 to have an effect on the market price of the company?

7) Did you consider that a Director selling on the market prior to updates (in regards points 3, 4 & 5), and so close to the deadlines you advised, would potentially be in breach of market regulations regardless of whether you were successful or not? 

8) According to the September quarterly report, you are burning approximately $1.8m per quarter. Therefore it is fair to assume you have approx $8m at the end of the December quarter. It is common for the market price to start to fall when there is approximately two quarters of cash in reserve as the market begins to digest the likelihood of a dilutive capital raising. At the current market price (that you whacked down 25%), you would be able to raise a maximum of $20m at 8c (less the amount of stock you all issued yourselves), but at the current rate of trajectory you would be raising $12.5m at 5c in 6 months time (less the amount of stock you all issued yourselves, so maybe only about $8m). Have you commenced talks with investors for the pending capital raising? And would $12.5m at 5c (or more likely $8m) be acceptable to your major shareholders and sufficient for ongoing development, or have you, by issuing yourselves all this stock not only starved the company of future capital by also forced the share price down by selling, thereby making it harder and more dilutive to raise sufficient capital?

9) Given the negativity towards the recent remuneration levels, what have you done in response?

10) Given the rate of change in technology, and the capital constraints a small company such as Brainchip suffers in relation to companies such as Intel, have you modelled the likelihood of the Brainchip technology becoming obsolescent before you are able to commercialise it?

11) Do you play golf or like fishing? (Might be time to hang up the boots bro, this'll probably be your last professional engagement and surely its better to walk with your head held high than to get 249D'd into retirement...)