10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001136261-14-000190`
Period End Date	20140331
Filing Date	20140508
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	mvis-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 39 Cash Flow Statement 63 Stockholders Equity 24

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.85M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.31M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.34M	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$373.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$373.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Accounts receivable, net of allowance of $373 and $373	`AccountsReceivableNetCurrent`	$24.00K	USD	Point-in-time
Accounts receivable, net of allowance of $373 and $373	`AccountsReceivableNetCurrent`	$135.00K	USD	Point-in-time
Inventory	`InventoryNet`	$49.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$49.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$256.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$336.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.78M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$15.78M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.06M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$924.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	32.07M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	42.96M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.11M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	32.07M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	42.96M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$8.45M	USD	Point-in-time
Total assets	`Assets`	$18.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.61M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.46M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.70M	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$347.00K	USD	Point-in-time
Billings in excess of costs and estimated earnings on uncompleted contracts	`BillingsInExcessOfCostCurrent`	$680.00K	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	-	USD	Point-in-time
Warrant liability	`WarrantsAndRightsOutstanding`	$4.90M	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$15.00K	USD	Point-in-time
Current portion of capital lease obligations	`CapitalLeaseObligationsCurrent`	$5.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.42M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$481.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$533.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.14M	USD	Point-in-time
Commitments and contingencies (Note 6)	`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; 42,961 and 32,069 shares issued and outstanding	`CommonStockValue`	$43.00K	USD	Point-in-time
Common stock, par value $.001; 100,000 shares authorized; 42,961 and 32,069 shares issued and outstanding	`CommonStockValue`	$32.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$472.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$448.98M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-458.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-450.71M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.70M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$13.31M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$18.27M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$8.45M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Development revenue	`OtherSalesRevenueNet`	$300.00K	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	$1.19M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$9.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$1.22M	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$282.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$17.00K	USD	1 Quarter
Total revenue	`Revenues`	$1.22M	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`	$-10.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$137.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$9.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$-1.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$801.00K	USD	1 Quarter
Gross margin	`GrossProfit`	$1.00M	USD	1 Quarter
Gross margin	`GrossProfit`	$1.22M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.25M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.54M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.96M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.40M	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
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$227.00K	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$5.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.28M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.65M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.65M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.06M	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-4.97M	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Other income (expense)	`OtherNonoperatingExpense`	$6.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingExpense`	$-4.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.18M	USD	Annual
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.14	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.23	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	25.24M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	34.84M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.18M	USD	Annual
Depreciation	`Depreciation`	$239.00K	USD	1 Quarter
Depreciation	`Depreciation`	$158.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$40.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$33.00K	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 share-based compensation expense	`ShareBasedCompensation`	$385.00K	USD	1 Quarter
Non-cash share-based compensation expense	`ShareBasedCompensation`	$305.00K	USD	1 Quarter
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-4.97M	USD	1 Quarter
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Non-cash deferred rent	`OtherNoncashExpense`	$-15.00K	USD	1 Quarter
Non-cash deferred rent	`OtherNoncashExpense`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$391.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$111.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-280.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$509.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$85.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-754.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-274.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-506.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$272.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-246.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	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`	$-333.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.50M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.93M	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-1.00K	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.00K	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$4.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$77.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-77.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.00K	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`	$10.00K	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`	$12.98M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$12.97M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-37.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.54M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.96M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$6.85M	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`	$15.34M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$6.85M	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`	$15.34M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	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`	-	USD	1 Quarter
Issuance of common stock for exchange of warrants	`LiabilitiesAssumed1`	$9.87M	USD	1 Quarter
Issuance of common stock for exchange of warrants	`LiabilitiesAssumed1`	-	USD	1 Quarter

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Beginning balances	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$5.05M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$13.31M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$1.59M	USD	Annual
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$310.00K	USD	1 Quarter
Exercise of warrants and options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$41.00K	USD	Annual
Sales of common stock and warrants	`StockIssuedDuringPeriodValueNewIssues`	-	USD	Point-in-time
Sales of common stock and warrants	`StockIssuedDuringPeriodValueNewIssues`	$12.85M	USD	1 Quarter
Sales of common stock and warrants	`StockIssuedDuringPeriodValueNewIssues`	$6.60M	USD	Point-in-time
Sales of common stock and warrants	`StockIssuedDuringPeriodValueNewIssues`	$4.26M	USD	Annual
Sales of common stock and warrants	`StockIssuedDuringPeriodValueNewIssues`	$13.90M	USD	Point-in-time
Sales of common stock and warrants	`StockIssuedDuringPeriodValueNewIssues`	$5.85M	USD	Point-in-time
Sales of common stock and warrants, shares	`StockIssuedDuringPeriodSharesNewIssues`	2.60M	shares	Point-in-time
Sales of common stock and warrants, shares	`StockIssuedDuringPeriodSharesNewIssues`	3.50M	shares	Point-in-time
Sales of common stock and warrants, shares	`StockIssuedDuringPeriodSharesNewIssues`	7.20M	shares	Point-in-time
Sales of common stock and warrants, shares	`StockIssuedDuringPeriodSharesNewIssues`	3.71M	shares	Point-in-time
Exchange of warrants	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$9.87M	USD	1 Quarter
Exchange of warrants	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$536.00K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.65M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.18M	USD	Annual
Ending balances	`StockholdersEquity`	$-1.70M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$5.05M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$13.31M	USD	Point-in-time

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