BrainChip Holdings Limited (ASX: BRN) had come forward and made an announcement related to the update for the December 2018 quarter. As per the presentation issued by BrainChip Holdings Limited, it witnessed total net cash outflows amounting to US$2.7 million in the December 2018 quarter. The company’s total cash receipts stood at US$227,000 in the December 2018 quarter which excluded the invoices which were given that would be paid in the future. Moreover, presentation issued by BrainChip Holdings Limited also stated that it is implementing the measures which could support the company in controlling the expenses.
In the December 2018 quarter, BrainChip Holdings Limited’s net cash used in operating activities stood at US$2.14 million. The company has made payment amounting to US$0.727 million towards the administration and corporate costs while US$0.707 million was paid towards research and development. The presentation issued by BrainChip Holdings Limited also threw light on the company’s intellectual property. The company stated that, in December 2018 quarter, its Intellectual Property protection was strengthened as they have filed omnibus provisional US patent application with USPTO or (United States Patent and Trademark Office). The company stated that its core strategy revolves around the protection of the intellectual property.
Not so long ago, BrainChip Holdings Limited had made an announcement related to the board composition with the help of press release. As per the release, the company provided an update with regards to the changes to the board of directors’ composition. The company stated that after Mr. Mick Bolto’s retirement from the designation of the Board’s Chairman in the month of April 2018, there was an appointment of the CEO (or Chief Executive Officer) named Mr. Louis DiNardo so that the interim Chairman’s role can be filled as well as Mr. Steve Liebeskind was placed as Non-executive Director on the interim basis (which got confirmed in annual general meeting in the month of May 2018). In the same release, BrainChip Holdings had stated that it is focused towards independent non-executive Chairman (Australian-based) as well as additional Australian based non-executive director possessing the skills complementing the present members of the Board.
We would now be looking at how BrainChip Holdings Limited has performed today as well as how they have been performing from the past few months. Today (i.e. January 31, 2019), BrainChip Holdings Limited closed the session in green as the stock price witnessed an increase of A$0.003 per share or 3.297% and closed at A$0.094 per share. The market capitalisation of BrainChip Holdings Limited stood at $95.54 million. The company’s stock price is trading towards the lower levels. Talking about the past performance, the stock of BRN had delivered the return of -41.29% in the time span of previous 6 months while, in the span of previous 3 months, the company’s stock had posted the return of -24.17%. Moreover, in the time period of previous one month, the company’s stock has delivered the return of -13.33%.
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