Lou gets to stay for the time being. The Corps Act allows for...

Lou gets to stay for the time being. The Corps Act allows for all of the other Directors to be rolled on a vote of more than 25% against the remuneration package, which I doubt anyone could say is a fair pay packet given the success to date. But not Lou.

Once this occurs then a new set of directors would have to be sourced, or the old ones get voted back in. The new Board could then sack the CEO, but he is entitled to a payout. This would be another large chunk of cash out the door, which probably explains why he hasn't raised any yet. Makes his removal less palatable if there isn't much money left. Its certainly not good financial management.

So the guy that has spent all of the Akida money for no result, the guy that was given $1.8m of free shares in the last year alone, the guy that sold down half of those shares at 12c and started this whole share price slide, the guy that told everyone that BRN were doing agtech/german car manufacturer/large chip maker/surveillance/casino deals and gave multi-million dollar revenue projections, the guy that hasn't raised money even though the company is running out, the guy that employed all of his friends to approve his bonus structure, the guy that put a slide show together with a slide called "low lights" in the same period as he received his performance bonus, the guy who is being paid over $400kUSD in cash alone...this guy gets to stay. And until he has job certainty there will be no capital raising, so you couldn't even afford to sack him even if you wanted to! And it'll be another quarter before a vote to put new Directors in, so another quarter of cash-burn, so the new team would start with a couple of mill in the bank, a CEO they want to sack but can't afford to and an emergency capital raise that destroys all of the existing shareholders equity. The ol' hospital pass...

Quick! Time to roll out an obscure article that references Brainchip or neuromorphic chips!