Hello mate, have you heard of the recent developments with the ADR that BRainChip will be more accessible to large US investors using this system and traded on OTCQX I believe. Interested to hear your thoughts.
The 40 to 1 at this point is the likely ratio , meaning an estimated $15 USD ADR share value . As I previously stated the object was not to be considered a penny stock , I would also imagine if for any reason we see an increase in the ASX share price prior to mid to late Q4 the ratio maybe reduced to remain around the $15 USD mark .
As per the announcement extract below , HSBC to buy all 50 million shares required for the ADR’s on the ASX market . A new HSBC Custodial account will soon appear on the register . The shares held in this account will not be available to those who seek supply for shorting purposes .
Integrous Communications and BRN management are committed to the success and growth of the ADR program , they have every expectation to see the HSBC Custodial A/C become very prominent within the top 20 .
Agreed this is going to the moon soon!
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