BRN 1.64% 6.2¢ brainchip holdings ltd

The material announcement may not be possible until BRN has the...

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    The material announcement may not be possible until BRN has the cash or capacity to meet a specific condition of the "material" agreement.

    For example, a mate of mine designed a product, which he has managed to do a deal with Home Depot in the US to supply. Home Depot had an order that needed to be filled, but they need to be satisfied my mate can meet it. He needed to front up a heap of capital to develop the moulds and tools for the factory in China where his product would be manufactured. His manufacturing partner agreed to take a minor shareholder's position in the company so his company didn't have to front the cash for this outlay. So, once he had that agreement in place, he could tell Homebase he had the capacity to meet their order.

    So in the case of BRN this capital raising is likely to be for a specific purpose - a condition of the cap raise could be that the money is set aside for a specific purpose. There could be a bunch of contracts and agreements between a bunch of different parties to pull this all together.
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