10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001136261-15-000119`
Period End Date	20150331
Filing Date	20150430
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	mvis-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 39 Cash Flow Statement 57

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$52.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$52.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $52 and $52	`AccountsReceivableNetCurrent`	$478.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $52 and $52	`AccountsReceivableNetCurrent`	$669.00K	USD	Point-in-time
Inventory	`InventoryNet`	$432.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventory	`InventoryNet`	$116.00K	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
Other current assets	`OtherAssetsCurrent`	$491.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$541.00K	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
Total current assets	`AssetsCurrent`	$18.14M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.62M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.02M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$894.00K	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
Common stock, shares issued	`CommonStockSharesIssued`	44.76M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	46.18M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$941.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	46.18M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$973.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$11.95M	USD	Point-in-time
Total assets	`Assets`	$20.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.63M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.73M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.95M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.22M	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$409.00K	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$230.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$6.90M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$488.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$453.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.07M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; 0 and 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; 0 and 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 46,177 and 44,758 shares issued and outstanding	`CommonStockValue`	$46.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 46,177 and 44,758 shares issued and outstanding	`CommonStockValue`	$45.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$475.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$479.21M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-468.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-472.79M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.87M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.47M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$11.95M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.55M	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$741.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$1.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$144.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$8.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$16.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$17.00K	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	-	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	$1.19M	USD	1 Quarter
Total revenue	`Revenues`	$1.22M	USD	1 Quarter
Total revenue	`Revenues`	$901.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$-10.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$1.04M	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$9.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$7.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$-1.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.22M	USD	1 Quarter
Gross profit	`GrossProfit`	$-143.00K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$1.90M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.54M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.92M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.96M	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$227.00K	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.28M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.82M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.96M	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
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$5.00M	USD	Point-in-time
Other income, net	`OtherNonoperatingExpense`	$-4.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.09	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.23	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	34.84M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	44.96M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.02M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Depreciation	`Depreciation`	$83.00K	USD	1 Quarter
Depreciation	`Depreciation`	$158.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$33.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$32.00K	USD	1 Quarter
Non-cash share-based compensation expense	`ShareBasedCompensation`	$190.00K	USD	1 Quarter
Non-cash share-based compensation expense	`ShareBasedCompensation`	$305.00K	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-4.97M	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$5.00M	USD	Point-in-time
Inventory write-downs	`InventoryWriteDown`	$139.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	-	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashExpense`	$-15.00K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashExpense`	$-15.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-191.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$111.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$455.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-46.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$85.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$381.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-274.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$272.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$207.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$8.13M	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$179.00K	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-333.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.93M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.05M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$77.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$69.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-77.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-69.00K	USD	1 Quarter
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$10.00K	USD	1 Quarter
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	-	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$3.35M	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$12.98M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$12.97M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.35M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.96M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.34M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.34M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.68M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	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`	$16.68M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$1.00K	USD	1 Quarter
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	1 Quarter
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$246.00K	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

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