BrainChip Holdings Ltd (ASX: BRN), a leading provider of ultra-low power high performance AI technology, today provides the following update in conjunction with its Appendix 4C lodged for the quarter ending 31 December 2020.
The Company ended the December quarter with US$19.1M in cash compared to US$12.2M in the prior quarter. Subsequent to the quarter the Company increased its cash balance and as of 24 January 2021 had US$21.8M on balance. Cash inflows during January included proceeds from customers for IP and EAP sales, as well as the exercise of employee and investor stock options.
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