BrainChip Holdings Ltd (ASX: BRN) came up with the double announcement this morning, unleashing the year-end Update 2018 and the filing of patents with the United States. But at the time of writing the BrainChip stock is down 4.348%, trading at its lowest level of $0.088 (4 January 2019; 12:54 PM AEST).
Neuromorphic computing company BrainChip Holdings told that it had filed omnibus provisional the United States patent application with the regulator body U.S. Patent and Trademark Office (USPTO).
The report read that the action defines the company’s intention to strengthen its intellectual property protection as its success dramatically depends upon the maintenance and establishment of its proprietary technology.
By filing this patent application with U.S. authority, the company seeks to secure several inventions incorporated in the Akida Neuromorphic System-on-Chip including its low-latency, state-of-the-art reconfigurable, low-power feature set, and the overall NSoC system architecture. These applications include many assertions that claim the detailed description of the technology and novelty of Akida NSoC elements.
BrainChip’s President and CEO Lou DiNardo stated Akida brings in Artificial Intelligence to the edge and opens to door to many huge and growing markets. He also said that the company is committed to protecting the valuable inventions it has made in the field of neuromorphic computing.
Moreover, Akida IC Development is reported to be on track with engineering samples expected to be released in second half of 2019. The company also holds a portfolio of 10 other granted or filed patents towards the invention in neuromorphic computing that includes pattern recognition, autonomous learning, neural processor acceleration, and independent feature extraction.
On the business update front, Brainchip told a license fee of US$500,000 and an engineering fee of US$100,000 was paid in full associated to the global licensing and development agreement, it has inked with Gaming Partners Int’l (GPI). The contract is to develop technology in support of GPI ATSTM Production Vision System. As per the company’s information, the ATS solution has received strong customers interest during its demonstration at the G2E Conference in Las Vegas as well as the one held in Macau. Therefore, both the parties are targeting to release production of video analytic system latest by the end of January 2019.
Further, in September 2018 BrainChip invoiced SN Tech US$609,135 for deployment at the Lockport School District in New York state. Following the subsequent disputes raised by SN Tech, the company pursued a preliminary audit of SN tech’s books and found that the information provided was incomplete. However, BrainChip is seeking information directly from Lockport School District through a Freedom of Information Act (FOIA).
Over the past 12 months, the stock has fallen massively by 52.82% including a plunge of 26.40% in the past one month.