10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001136261-12-000275`
Period End Date	20120331
Filing Date	20120510
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	mvis-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 36 Cash Flow Statement 66 Comprehensive Income 6

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$243.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$318.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.47M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$19.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.07M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Investment securities, available-for-sale	`AvailableForSaleSecuritiesCurrent`	$8.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Investment securities, available-for-sale	`AvailableForSaleSecuritiesCurrent`	$13.00K	USD	Point-in-time
Accounts receivable, net of allowances of $318 and $243	`AccountsReceivableNetCurrent`	$463.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowances of $318 and $243	`AccountsReceivableNetCurrent`	$389.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ReceivablesLongTermContractsOrPrograms`	$63.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ReceivablesLongTermContractsOrPrograms`	$70.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory	`InventoryNet`	$1.12M	USD	Point-in-time
Inventory	`InventoryNet`	$4.25M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$785.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.03M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	17.02M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$925.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.02M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$18.66M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	17.03M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.32M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.98M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.35M	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsNoncurrent`	$786.00K	USD	Point-in-time
Restricted investments	`RestrictedInvestmentsNoncurrent`	$436.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$2.05M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$2.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$34.00K	USD	Point-in-time
Total assets	`Assets`	$23.87M	USD	Point-in-time
Total assets	`Assets`	$13.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.41M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.03M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$602.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$156.00K	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$41.00K	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$39.00K	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$93.00K	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$95.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.18M	USD	Point-in-time
Capital lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$72.00K	USD	Point-in-time
Capital lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$60.00K	USD	Point-in-time
Long-term debt, net of current portion	`SecuredLongTermDebt`	$67.00K	USD	Point-in-time
Long-term debt, net of current portion	`SecuredLongTermDebt`	$42.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$187.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$119.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.40M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $.001; 25,000 shares authorized; 0 and 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $.001; 25,000 shares authorized; 0 and 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $.001; 100,000 shares authorized; 17,027 and 17,019 shares issued and outstanding	`CommonStockValue`	$17.00K	USD	Point-in-time
Common stock, par value $.001; 100,000 shares authorized; 17,027 and 17,019 shares issued and outstanding	`CommonStockValue`	$17.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$425.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$426.03M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-35.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-30.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-424.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-414.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.80M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.38M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$23.87M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$13.77M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$1.53M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$886.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$233.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$201.00K	USD	1 Quarter
Total revenue	`Revenues`	$1.12M	USD	1 Quarter
Total revenue	`Revenues`	$1.73M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$4.17M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$2.24M	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$299.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$155.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$4.33M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$2.54M	USD	1 Quarter
Gross margin	`GrossProfit`	$-2.60M	USD	1 Quarter
Gross margin	`GrossProfit`	$-1.42M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$4.33M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$3.94M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$3.30M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$3.29M	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	$7.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.62M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.23M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.04M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.83M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$15.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$9.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$13.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingExpense`	$-24.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.04M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.70	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.58	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	17.03M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	12.84M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.04M	USD	1 Quarter
Depreciation	`Depreciation`	$613.00K	USD	1 Quarter
Depreciation	`Depreciation`	$518.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$46.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$47.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$7.00K	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$401.00K	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$373.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$461.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$1.09M	USD	1 Quarter
Non-cash deferred rent	`OtherNoncashExpense`	$-44.00K	USD	1 Quarter
Non-cash deferred rent	`OtherNoncashExpense`	$-69.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-74.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-236.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-7.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-14.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-191.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-2.04M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$87.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-140.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-12.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-792.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-985.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$142.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-106.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$446.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-34.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-94.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-8.14M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.19M	USD	1 Quarter
Sales of investment securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	-	USD	1 Quarter
Sales of investment securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	-	USD	1 Quarter
Decrease in restricted investment	`IncreaseDecreaseOfRestrictedInvestments`	$-350.00K	USD	1 Quarter
Decrease in restricted investment	`IncreaseDecreaseOfRestrictedInvestments`	$-170.00K	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$7.00K	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$393.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$64.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$113.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.00K	USD	1 Quarter
Principal payments under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$12.00K	USD	1 Quarter
Principal payments under capital leases	`RepaymentsOfLongTermCapitalLeaseObligations`	$10.00K	USD	1 Quarter
Principal payments under long-term debt	`RepaymentsOfSecuredDebt`	$20.00K	USD	1 Quarter
Principal payments under long-term debt	`RepaymentsOfSecuredDebt`	$23.00K	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$3.12M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-33.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.08M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.27M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.94M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$14.47M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.41M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.47M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.41M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$13.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$9.00K	USD	1 Quarter
Other non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$229.00K	USD	1 Quarter
Other non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$86.00K	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.04M	USD	1 Quarter
Unrealized gain (loss) on investment securities, available-for-sale	`OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease`	$5.00K	USD	1 Quarter
Unrealized gain (loss) on investment securities, available-for-sale	`OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-1.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-9.80M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-9.04M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.