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ASX PRESS RELEASE
22 SEPTEMBER 2015
BRAINCHIP HOLDINGS LTD
ACN 151 159 812
Level 3, 18-32 Parliament Place, West Perth WA 6005 | PO Box 1959, West Perth WA 6872
T: +61 8 9220 5750 | F: +61 8 9220 5757 | E: admin@brainchipinc.com | W: www.brainchipinc.com
COMPANY ACTIVITY REPORT
REINSTATEMENT TO OFFICIAL QUOTATION
BrainChip Holdings Ltd (“BrainChip” or “the Company”) (ASX:BRN), the owner of Spiking Neural Network
technology SNAP, is pleased to provide the following update on its activities and commercialisation progress.
Highlights
• On track to deliver key milestones.
• Demonstration of SNAP to Fortune 500 companies with follow-up discussions ongoing.
• High number of new enquiries received.
• Focused on early revenue.
• Hiring of key personnel underway to accelerate the development of key SNAP features and new
product designs.
• Reinstatement to official quotation on ASX achieved.
BrainChip is pleased to report that the work to enhance the SNAP technology platform is progressing
according to schedule, and that the Company will be in a position to report the completion of one of its key
performance milestones in the near term. This significant achievement will demonstrate a hardware-only
technology platform that is scalable and extremely fast whilst using exceptionally low power.
The internal architecture of SNAP makes the technology up to 5000x faster than current neural computers,
whilst using just 1/1000
th
its power. Several global companies have commented that the combination of
autonomous learning, speed and low power consumption will make SNAP a highly desirable solution for a
large number of market sectors including the smart phone and IoT sectors.
BrainChip also announces that discussions with Fortune 500 companies, that have helped to formulate the
milestones that the Company is working towards, remain ongoing. The Company expects that some of these
discussions may lead to Intellectual Property (IP) licensing agreements.
Whilst the Company is maintaining its focus on the development of its core technology to satisfy the requests
of potential customers, we are also pleased to report that a significant number of new enquiries have been
received. Although at an early stage, these enquiries provide further encouragement that industry sees the
benefits that SNAP can deliver, as either a standalone solution or as a co-processor solution, that can
significantly enhance existing products.
The Company plans to hire further key technical personnel to work out of the California based laboratory. The
new staff will enable the company to rapidly develop and deploy further enhancements of the base SNAP
technology platform that is suitable for a wide range of custom projects.
The top 20 shareholders in the Company including the escrowed share holdings of the BrainChip directors and
key management equals 75.65%
We look forward to keeping the market informed of our development and the achievement of key
technological and commercial milestones.
For further enquires:
Robert Mitro
Chief Executive Officer & Executive Director
M: +1 408 781 3000
E: rmitro@brainchipinc.com
W: www.brainchipinc.com
END