STOP PRESS AGM NOTICE

I have just been liaising with Mr. Tony Dawe the IR at Brainchip who has reached out to me for the purpose of letting shareholders here on Hot Copper BRN know the following additional information:

1. The venue was booked prior to Tony Dawe's appointment and the capacity of the venue was 100 persons which based on past shareholder attendances at Sydney this would have been more than adequate.

2. The venue contacted Tony Dawe late yesterday to advise that due to Covid-19 restrictions the maximum capacity for the meeting had been reduced to 40 persons.

3. Clearly from the communications that Tony Dawe has been receiving it is possible that even the previous capacity of 100 may have been inadequate and the company apologises to all concerned and has asked that anyone who had an intention to attend take up the remote attendance option.

My take on this is that while we can reasonably feel some annoyance the company is dealing with three issues here:

1. Covid -19 which requires no further comment.

2. A massive growth in its share register to 37 thousand shareholders an extraordinary number of which are deeply committed not just to the share price but the wonder that is AKIDA technology and have an insatiable appetite for knowledge about the AKIDA and its applications. This shareholder growth has occurred at a time when the company was pared back staff wise except in respect of its engineering and scientific crew as a deliberate corporate tactic to propel the AKIDA technology to completion and into the world. As such non essentials like us have had to take a complete back seat and make do with what the former CEO was able to deliver. When you look at what was been happening retrospectively he did an amazing job of virtually single handed keeping shareholders informed and at the same time driving sales, finding and hiring staff and keeping the scientific and engineering staff fully funded and humming along.

3. A sudden and unexpected change by the venue operators in the numbers that would be allowed to enter the venue has completely reshaped how the company can conduct the AGM.

I voiced my objections to Perth as the venue so those who read my posts back then know that I am not an apologist for any and all decisions that are made but on this occasion I think the company and the new IR are entitled to a pass.

In part of our to and fro before I agreed to post a message about this Tony Dawe joked "Don't worry next year I will book a stadium, just joking." I replied might not be a joke if we hit the $1.00 plus by early next year given how loyal retail shareholders are and how keen they are to understand and dig into the AKIDA technology. Tony Dawe replied that he is fully aware of the depth of loyalty of share holders where BRN is concerned.

Not as you might think hollow words as I questioned the other day how Tony Dawe came by the shares he has in Brainchip and he told me that he bought his shares in 2017 after meeting Peter van der Made for the first time and had added to them since and expected to add more during periods when they were not in black out. He also said that he looked forward to Brainchip supporting his retirement. So their you have it an IR man with a vested interest in shareholders rights with his own skin in the game and a plan to retire off the fruits of his labour on behalf of Brainchip.

My opinion only DYOR
FF

AKIDA Ballista