BrainChip Holdings Ltd (ASX: BRN), a leading provider of ultra-low power, high performance edge AI technology, provides the following update for the quarter ending 30 September 2019 to accompany the Company’s Appendix 4C lodged with the ASX.
The Company ended the September quarter with US$9.54M in cash. For the December 2019 quarter the Company forecasts recurring operating expenses of US$2.65M which includes an increase in marketing expenses for collateral material and event expenses in advance of the Akida product release. Total cash outflows of US$4.15M are expected for the quarter which includes non-recurring expenses associated with the Akida device development. Total cash receipts for the September quarter were immaterial. The Company continues to control expenses, primarily employee headcount, while completing the Akida development.
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