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 ir@microvsion.com or call us at 425 882 6629.

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Career and Passion Intersect for MicroVision’s Head of R&D, Dale Zimmerman


September 16th, 2013
by Dawn Goetter


Some of the most stunning examples of beauty and innovation can be discovered when science and art intersect.

Dale Zimmerman knows this better than most. As vice president of research and development at MicroVision, he is more than just an engineer – he is a visual scientist. His ability to see beauty in everyday objects and bring them to life for others is reflected not only in his work but a passion outside the job: photography. 

For Dale, his work at MicroVision and passion for photography are what he calls “synergistic.” The process of capturing a photograph has pushed Dale to think outside the box and see beauty in objects that may go unnoticed, such as cracks in the dirt or a unique architectural detail of a nearby building. His knowledge and experience in visual display are helpful when he brings an image to print. He can identify what the image needs (such as color, contrast and pixilation) and the technologies and processes to get it there.

Dale’s interest in photography actually started as a side hobby while pursuing his degree in engineering. It wasn’t until years later when he was developing some of the first DLP display solutions at Texas Instruments that he really delved into photography and became immersed in what makes a beautiful image. The emergence of new digital technologies at the time allowed Dale to experiment with light and color to capture vivid photographs. Dale quickly became a skilled photographer and his colorful photographs of landscape, scenery and other abstract objects have been featured in art galleries, exhibits and books over the years.

Dale’s background in photography is also a tremendous asset in his role at MicroVision. His understanding of the importance of light, color and resolution in capturing an image enables him and his team to create display technology that can produce high quality images. Coupled with his background in engineering, Dale’s work is a prime example of how art and science can intersect to breakdown display boundaries.

All images copyright 2013 Dale Zimmerman, published with the permission of Dale Zimmerman.

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