10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001136261-13-000218`
Period End Date	20130331
Filing Date	20130510
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	mvis-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 34 Cash Flow Statement 60 Comprehensive Income 6

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$340.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$332.00K	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`	$6.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$13.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.85M	USD	Point-in-time
Accounts receivable, net of allowance of $340 and $332	`AccountsReceivableNetCurrent`	$1.51M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Accounts receivable, net of allowance of $340 and $332	`AccountsReceivableNetCurrent`	$1.11M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ReceivablesLongTermContractsOrPrograms`	$12.00K	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ReceivablesLongTermContractsOrPrograms`	$12.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$217.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$497.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$699.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.22M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.70M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.24M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.74M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	25.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.25M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	25.24M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.00M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$436.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.54M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.58M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$22.00K	USD	Point-in-time
Total assets	`Assets`	$12.94M	USD	Point-in-time
Total assets	`Assets`	$8.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.31M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.01M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$363.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$609.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$692.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$98.00K	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$48.00K	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$51.00K	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$42.00K	USD	Point-in-time
Current portion of long-term debt	`SecuredDebtCurrent`	$67.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.86M	USD	Point-in-time
Capital lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$5.00K	USD	Point-in-time
Capital lease obligations, net of current portion	`CapitalLeaseObligationsNoncurrent`	$20.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$7.88M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.97M	USD	Point-in-time
Commitments and contingencies (Note 7)	`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; 25,253 and 25,237 shares issued and outstanding	`CommonStockValue`	$25.00K	USD	Point-in-time
Common stock, par value $.001; 100,000 shares authorized; 25,253 and 25,237 shares issued and outstanding	`CommonStockValue`	$25.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$442.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$442.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-437.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-441.19M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.77M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$5.05M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$12.94M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$8.74M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$1.53M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$1.22M	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$282.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$201.00K	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	$300.00K	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	-	USD	1 Quarter
Total revenue	`Revenues`	$1.73M	USD	1 Quarter
Total revenue	`Revenues`	$1.80M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$664.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$4.17M	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$155.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$137.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$4.33M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$801.00K	USD	1 Quarter
Gross margin	`GrossProfit`	$-2.60M	USD	1 Quarter
Gross margin	`GrossProfit`	$1.00M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$3.94M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.25M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.40M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$3.29M	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	$2.00K	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.23M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.65M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-9.83M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingExpense`	$1.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingExpense`	$-25.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.58	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.14	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	25.24M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	17.03M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Depreciation	`Depreciation`	$239.00K	USD	1 Quarter
Depreciation	`Depreciation`	$613.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$40.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$46.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	$2.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$373.00K	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$385.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$1.09M	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	-	USD	1 Quarter
Non-cash deferred rent	`OtherNoncashExpense`	$-44.00K	USD	1 Quarter
Non-cash deferred rent	`OtherNoncashExpense`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-74.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$391.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	-	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInUnbilledReceivables`	$-7.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-2.04M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-280.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$509.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-140.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-754.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-792.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-106.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-506.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-246.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$594.00K	USD	1 Quarter
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$446.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.19M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.50M	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-1.00K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-350.00K	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$393.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-43.00K	USD	1 Quarter
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$37.00K	USD	1 Quarter
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$33.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-33.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-37.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.54M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.27M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.81M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.85M	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`	$3.31M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$13.07M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.85M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$9.00K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$5.00K	USD	1 Quarter
Other non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$33.00K	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`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.80M	USD	1 Quarter
Unrealized gain (loss) on investment securities, available-for-sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Unrealized gain (loss) on investment securities, available-for-sale	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$5.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-3.65M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-9.80M	USD	1 Quarter

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