Brainchip Holdings Ltd. · ASX:BRN
Brainchip — Shareholder Meeting (May 2018)
39 slides from Brainchip's shareholder meeting presentation, May 10, 2018
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 10 May 2018 Brainchip O CTO B E R 2017 | 1
Slide 2: Agenda
Agenda For personal use only Welcome & Introduction Presentation by Chief Executive Officer Voting Procedure Financial Statements Resolution 1 – Adoption of Remuneration Report Resolution 2 – Election of Steve Liebeskind Resolution 3 – Re‐election of Adam Osseiran Resolution 4 – Issue of Shares to L
Slide 3: Louis DiNardo, Executive Chairman, President and CEO
For personal use only Louis DiNardo Executive Chairman, President and CEO Annual General Meeting Presented 10 th May 2018 ASX CODE: BRN | “AN AI PROCESSOR COMPANY” Brainchip O CTO B E R 2017 | 3
Slide 4: Disclaimer
Disclaimer For personal use only This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment de
Slide 5: BrainChip Company Overview
BrainChip Company Overview For personal use only A Leading Provider of Autonomous Artificial Intelligence (AI) Products for Signal Processing and Big Data Applications No programming, less data required, less processing power, less storage and less costly to implement than other machine learning
Slide 6: BrainChip Served Available Market Size (SAM)
BrainChip Served Available Market Size (SAM) For personal use only Video Analytics – BrainChip Studio and Accelerator Neuromorphic Chips – AKIDA™ Served Available Market: $4.8B (2022)* Total Available Market: $11.2B (2022)* Served Available Market: $2.8B** CAGR of 26.31% between 2016 and 2022 SAM $4
Slide 7: BrainChip a Solid Foundation
BrainChip a Solid Foundation For personal use only 2015 Development 2016 RTO SN Capital France 2015 SNAP64 Hardware Development Initiated Hardware Engineering Team Established in Aliso Viejo, California, United States Aziana RTO Completed and Capital Raised of A$4.0M for Implementation of SNAP64 SNA
Slide 8: BrainChip Turning the Corner on Growth
BrainChip Turning the Corner on Growth For personal use only 2017 Commercialization 2018 2017 Executive Staffing Complete including an experienced pubic company CEO, CFO and Sr VP of Marketing Board Composition Changed to include US Directors and Chairs of the Audit Committee/RemCom Committee JAST L
Slide 9: BrainChip Management Team
BrainChip Management Team For personal use only Lou DiNardo – President and CEO Peter Van Der Made – Founder and CTO Ryan Benton – SVP and CFO Previously President and CEO of Exar, Xicor Previously Chief Scientist, IBM Internet Previously CEO, CFO Exar President, Intersil Security Systems CFO, Synap
Slide 10: BrainChip a Global Company
BrainChip a Global Company For personal use only Northern California, U.S. Business Development, Executive Offices and Finance Southern California, U.S. Research and Hardware Design Toulouse, France, Research and Software Design Barcelona, Spain, Sales and Marketing Sydney, NSW, Australia, Sales and
Slide 11: BrainChip Sales and Business Development Model
BrainChip Sales and Business Development Model For personal use only Revenue System OEMs End Users Integrators Development Agreements Design Wins Design Win Sales and Marketing Cooperation Sales and Marketing Cooperation Purchase Orders Design Win Supply Agreements Supply Contracts Low Cost of Sales
Slide 12: BrainChip Recent Developments
BrainChip Recent Developments For personal use only Announcement of a Development, License and Revenue Sharing Agreement with Gaming Partners International (NASDAQ: GPIC) Announcement of Interoperability with Quantum Corporation (NASDAQ: QTM) StorNext large‐scale storage Announcement with Veritone I
Slide 13: Artificial Neural Network Competitive Landscape
Artificial Neural Network Competitive Landscape For personal use only Spiking Neural Networks Convolutional Neural Networks / Deep Learning Software Simulation of ANNs CPU CPU Cloud Acceleration Edge Acceleration Off‐the‐Shelf Hardware Acceleration Customized Acceleration Google TPU TrueNorth Loihi
Slide 14: BrainChip's SNN Outperforms Deep Learning Models
BrainChip’s SNN Outperforms Deep Learning Models For personal use only 45 40 Effective Frames/Sec/Watt (Standard Definition) 35 30 25 20 15 10 5 0 Nvidia Jetson TX2 Nvidia Jetson TX2 AlexNet* BrainChip Accelerator** GoogleNet* *NVIDIA Jetson TX2 in MQ mode, NVIDIA website, 3/7/2017, adjusted for SD
Slide 15: BrainChip Akida Changing the AI Landscape
BrainChip AkidaTM Changing the AI Landscape For personal use only The AkidaTM device is a complete Neuromorphic System‐on‐Chip (NSoC) and represents over a decade of work by Peter van der Made and our engineering teams. The AkidaTM NSoC development is well along the path to refining product definiti
Slide 16: AKIDA Neuromorphic System-on-Chip (NSoC)
AKIDATM Neuromorphic System-on-Chip (NSoC) For personal use only Product Description • General Purpose Processor based upon Patented (2008) Spiking Neural Network • Fully parallel architecture Training Method • Autonomous Unsupervised Learning • Autonomous Supervised Learning • Trained Deep Lear
Slide 17: BrainChip Shareholder Considerations
BrainChip Shareholder Considerations For personal use only Patented intellectual property which is the result of ~10 years’ development. BRN is one of the first commercial organizations globally to commercialise SNN AI technology. Highly experienced management team. The team brings decades of su
Slide 18: BrainChip Cash Flow Update
BrainChip Cash Flow Update For personal use only Operating activity cash flows in the March quarter of 2018 were an outflow of US$1.8 million, compared with US$1.9 million in the December 2017 quarter. The decrease in cash outflows was due primarily to higher receipts, offset in part by higher admin
Slide 19: Annual General Meeting
For personal use only Annual General Meeting Presented 10 th May 2018 Brainchip O CTO B E R 2017 | 19
Slide 20: Voting Procedure
Voting Procedure For personal use only Matter Procedure Speaking at the Meeting Shareholders, proxies or corporate representatives: Green card – speak at the meeting or vote; Yellow card – speak at the meeting only; and White card – not eligible to speak at the meeting or vote. Questions Protocol Ra
Slide 21: Financial Statements
Financial Statements For personal use only Financial Statements – General Q&A Brainchip 21 O CTO B E R 2017 | 21
Slide 22: Adoption of Remuneration Report
Resolution 1 – Adoption of Remuneration Report For personal use only "That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, approval is given by the Shareholders for the adoption of the Remuneration Report as contained in the Company's Annual Report for the ye
Slide 23: Adoption of Remuneration Report – Proxy results
Resolution 1 – Adoption of Remuneration Report For personal use only Proxy results: FOR 157,206,654 74.15 % AGAINST 54,231,461 25.58 % OPEN 568,395 0.27 % ABSTAIN 3,548,834 N/A Brainchip 23 O CTO B E R 2017 | 23
Slide 24: Election of Steve Liebeskind as Director
Resolution 2 – Election of Steve Liebeskind as Director For personal use only “That, for the purposes of clause 81 of the Constitution and for all other purposes, Steve Liebeskind, having been appointed by the Board as a director to fill a casual vacancy until the next annual general meeting, retire
Slide 25: Election of Steve Liebeskind – Proxy results
Resolution 2 – Election of Steve Liebeskind as For personal use only Director Proxy results: FOR 449,753,206 96.69 % AGAINST 14,801,329 3.18 % OPEN 619,595 0.13 % ABSTAIN 31,009,466 N/A Brainchip 25 O CTO B E R 2017 | 25
Slide 26: Re-Election of Adam Osseiran as Director
Resolution 3 – Re-Election of Adam Osseiran as Director For personal use only “That, for the purposes of clause 79 of the Constitution and ASX Listing Rule 14.4, and for all other purposes, Adam Osseiran, who retires by rotation and being eligible offers himself for re‐election, be re‐elected as a D
Slide 27: Re-Election of Adam Osseiran – Proxy results
Resolution 3 – Re-Election of Adam Osseiran as Director For personal use only Proxy results: FOR 324,093,133 70.13 % AGAINST 137,374,682 29.73 % OPEN 620,395 0.14 % ABSTAIN 34,095,388 N/A Brainchip 27 O CTO B E R 2017 | 27
Slide 28: Issue of Shares to Louis DiNardo
Resolution 4 – Issue of Shares to Louis DiNardo For personal use only That, for the purposes of: (a) Listing Rule 10.11 and for all other purposes, Shareholders approve the issue of up to 15,000,000 Shares to Louis DiNardo (and/or his nominee); and (b) Listing Rule 7.1 and for all other purposes, Sh
Slide 29: Issue of Shares to Louis DiNardo – Proxy results
Resolution 4 – Issue of Shares to Louis DiNardo For personal use only Proxy results: FOR 407,344,236 87.49 % AGAINST 57,666,563 12.38 % OPEN 600,780 0.13 % ABSTAIN 30,572,021 N/A Brainchip 29 O CTO B E R 2017 | 29
Slide 30: Grant of Performance Rights to Louis DiNardo
Resolution 5 – Grant of Performance Rights to Louis DiNardo For personal use only That, for the purposes of Listing Rule 10.14 and for all other purposes, Shareholders approve the issue of 15,000,000 Performance Rights to Louis DiNardo on the terms and conditions set out in the Explanatory Memorandu
Slide 31: Grant of Performance Rights – Proxy results
Resolution 5 – Grant of Performance Rights to Louis DiNardo For personal use only Proxy results: FOR 390,203,833 87.40 % AGAINST 55,751,234 12.49 % OPEN 520,395 0.11 % ABSTAIN 30,520,398 N/A Brainchip 31 O CTO B E R 2017 | 31
Slide 32: New BrainChip Long Term Incentive Plan
Resolution 6 – New BrainChip Long Term Incentive Plan – Approval of Future Issuances and Buy-Backs For personal use only "That, the Brainchip Long Term Incentive Plan be approved for the purposes of Part 2J.1 of the Corporations Act, and that Shareholders approve the issue of securities under the Lo
Slide 33: Long Term Incentive Plan – Proxy results
Resolution 6 – New BrainChip Long Term Incentive Plan – Approval of Future Issuances and Buy-Backs For personal use only Proxy results: FOR 391,590,169 82.78 % AGAINST 80,918,125 17.10 % OPEN 548,840 0.12 % ABSTAIN 3,938,727 N/A Brainchip 33 O CTO B E R 2017 | 33
Slide 34: Increase in Non-Executive Directors' Fees
Resolution 7 – Increase in Non-Executive Directors’ Fees For personal use only "That, for the purposes of Listing Rule 10.17 and for all other purposes, the maximum total fees payable in the aggregate to Non‐Executive Directors be increased from A$400,000 per annum to A$600,000 per annum." Brainchip
Slide 35: Increase in Directors' Fees – Proxy results
Resolution 7 – Increase in Non-Executive Directors’ Fees For personal use only Proxy results: FOR 399,357,598 84.33 % AGAINST 73,645,215 15.55 % OPEN 558,835 0.12 % ABSTAIN 3,434,216 N/A Brainchip 35 O CTO B E R 2017 | 35
Slide 36: Approval of 10% Placement Facility
Resolution 8 – Approval of 10% Placement Facility For personal use only "That, for the purposes of Listing Rule 7.1A and for all other purposes, Shareholders approve the issue of Equity Securities of up to 10% of the issued capital of the Company (at the time of the issue) calculated in accordance w
Slide 37: Approval of 10% Placement Facility – Proxy results
Resolution 8 – Approval of 10% Placement Facility For personal use only Proxy results: FOR 410,763,546 83.63 % AGAINST 79,883,128 16.26 % OPEN 540,395 0.11 % ABSTAIN 4,996,539 N/A Brainchip 37 O CTO B E R 2017 | 37
Slide 38: Other Questions?
Other Questions? For personal use only Questions? Brainchip 38 O CTO B E R 2017 | 38
Slide 39: Close - Thank you
For personal use only Close - Thank you Brainchip O CTO B E R 2017 | 39