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Sony Develops Pico Projector Module Incorporating PicoP Display Technology

February 24th, 2014
by Dawn Goetter

Last week Sony announced the development of a pico projector module “equipped with Sony’s independently-developed image processing system, that uses laser beam scanning (LBS)” and “incorporates the PicoP technology developed by MicroVision, Inc.”

We are extremely pleased and gratified that laser beam scanning technology that MicroVision pioneered is being adopted by a technology leader and innovator like Sony. With its expertise in projector and optical technology, leadership in semiconductor lasers and track record with innovative, high quality consumer electronics, Sony’s interest in pico projection and adoption of LBS is a significant development for the market as a whole.

Sony pico projector engine

We have been supporting Sony in their development of this engine module since April 2013 and look forward to continuing our work with them.

In their press release Sony said that it “aims to bring it to market for use in pico projectors and other devices with projector functionality.” Since the release was published, MicroVision has gotten a number of inquiries asking for confirmation that our technology is being is being incorporated in Sony’s display module and asking for more details related to the terms of any agreements and forecasts for revenue related to the relationship.

We understand the strong interest Sony’s press release generated and we issued a release today confirming the adoption of PicoP display technology by this Fortune Global 100 electronics brand.

At this time we are not disclosing potential license and supply terms for future products resulting from the development of this engine module. We are engaged in discussions and negotiations on commercial terms for next level agreements and will announce terms as appropriate in the future.

For more information on Sony’s announcement, click here:

Sony Develops Pico Projector Module with High-Definition Resolution and Focus-free Image Projection

Addressing Listing Deficiency

December 20th, 2013
by Dawn Goetter

MicroVision announced today that we received a notice on December 17, 2013 from The Nasdaq Stock Market advising the company that for 30 consecutive business days preceding the date of the notice the company was not in compliance with the $50,000,000 minimum market value of listed securities required for continued listing on The Nasdaq Global Market pursuant to Nasdaq’s listing requirements. In accordance with Nasdaq’s listing rules, the company has 180 calendar days, or until June 16, 2014, to regain compliance with this requirement. This notification is simply a notice of deficiency, not of imminent delisting, and has no current effect on the listing or trading of MicroVision’s common stock on The Nasdaq Global Market.

During the 180 day compliance period, MicroVision can regain compliance if the market value of its listed securities closes at $50,000,000 or more for a minimum of 10 consecutive business days. The company could also regain compliance with Nasdaq’s continued listing requirements by reporting stockholders’ equity of $10 million or more.

We plan to continue focusing on executing our business plan of securing design wins and entering into licensing agreements with OEMs. We believe that by executing the fundamentals of our plans, we can regain compliance within the 180 day period as we have done in the past.

We believe MicroVision is positioned for growth because of several key factors:

  • -Transition to a business model that is structured to license technology, receive royalties, and sell key components.
  • -Maturation of direct green laser technology that offers cost, performance, and size conducive to most markets.
  • -Availability of PicoP® Gen 2 technology that highlights performance, size and cost advantages of patented PicoP® display    technology.
  • -Strong intellectual property portfolio.
  • -Mobile ecosystem maturation and global interest in the pico projection markets.
  • -Consistent performance since our business model transition and restructuring in 2012 including aggressive management of costs and cash used in operations in line with our goals.

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Form 4 Filings on November 18, 2013

November 19th, 2013
by Dawn Goetter

We have had a number of calls today regarding several Form 4’s that were filed with the SEC yesterday by MicroVision. There seems to be confusion and a mis-impression that company executives sold shares when in fact the opposite is true.

The Form 4’s filed on Monday were the result of a tranche of restricted stock unit (RSU) awards vesting on November 15, 2013. The vesting of these shares creates a tax withholding obligation. Each officer surrendered to the Company a number of shares with a value that equals the tax obligation. No shares were sold by the officers. Disclosure codes (F and D) on these Form 4s indicate that there was a payment of tax liability by the executive delivering stock to the Company upon vesting of the RSU. In addition, there was a footnote on the Form 4 that stated: “Shares were withheld for payment of $___ tax liability on the vesting of a restricted stock unit award.”

Separately, the trading window for MicroVision employees just opened following the issuance of last week’s Q3 financial results press release. Alex Tokman, our CEO, purchased 20,000 shares today in the open market. His purchase is reflected on a Form 4 disclosure filing made today.

If you still have questions regarding these transactions, please let us know by email or call us at 425 882 6629.

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