Microvision Inc Del (NASDAQ:MVIS)

CAPS Rating: 1 out of 5

The Company is engaged in developing miniature display and imaging engines based upon its integrated photonics module architecture.

Recs

2
Player Avatar thakillyou (< 20) Submitted: 10/15/2010 7:04:49 AM : Underperform Start Price: $17.20 MVIS Score: +154.43

The reason that I believe MVIS will underperform is because while display projectors are extremely cool, they are not necessary. Purely based on the company's scorecard, it has not enough cash and cash equivalents to maintain operations past January 2011 which is fast approaching, forcing it to take on debt and interest along with rewarding loyal investors with stock dilutions. As long as MVIS cannot find a practical market for its products, it cannot outperform the market despite its comparative advantage in the sector.

Member Avatar robertcgray (< 20) Submitted: 3/17/2011 8:44:11 AM
Recs: 2

So..the update is that the 10K (mar 2011) says they run out of cash in August 2011. We also note that they have shifted strategy once again. It is unclear that they continue to have internal development - given the text of their latest con-call and the 10K. Has Tokman reduced the company to an IP management play? Others are now developing. Others are manufacturing. Others are marketing under their brands. If I have this right, at best, MVIS gets some, currently undefined, access to the future IP being created by its partners - and has the right to exploit it - somewhere, somehow. It appears MVIS continues to market and sell the current SHOWX - probably because they are obligated to take minimum production and/or get to write off the finished goods and WIP inventories - something that would look awful on the financial reports. I'd love to received informed opinions from others (rgrayATpozenresearch.com). Always thought that GLW, with dependency on the LCD market and supplier of the green lasers - was a waiting-in-the-wings acquirer. Your thoughts?

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