10-Q Filing

MICROVISION, INC. CIK: 65770 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001136261-15-000315`
Period End Date	20150930
Filing Date	20151105
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	mvis-20150930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 76 Cash Flow Statement 62

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`	$38.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Accounts receivable, net of allowances of $38 and $52	`AccountsReceivableNetCurrent`	$574.00K	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
Accounts receivable, net of allowances of $38 and $52	`AccountsReceivableNetCurrent`	$669.00K	USD	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 authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventory	`InventoryNet`	$269.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$491.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$543.00K	USD	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
Total current assets	`AssetsCurrent`	$12.55M	USD	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
Total current assets	`AssetsCurrent`	$9.62M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.66M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$894.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.22M	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 issued	`CommonStockSharesIssued`	44.76M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$877.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.22M	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`	$15.54M	USD	Point-in-time
Total assets	`Assets`	$11.95M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.63M	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`	$2.78M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.00M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	-	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$230.00K	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$5.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.41M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$6.40M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$381.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$488.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.19M	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; 47,216 and 44,758 shares issued and outstanding	`CommonStockValue`	$47.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 47,216 and 44,758 shares issued and outstanding	`CommonStockValue`	$45.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$482.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$475.66M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-479.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-468.83M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.35M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.87M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$11.95M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$15.54M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$18.00K	USD	3 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$5.00M	USD	3 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$16.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$2.08M	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	-	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$26.00K	USD	3 Qtrs
Royalty revenue	`RoyaltyRevenue`	$777.00K	USD	3 Qtrs
Royalty revenue	`RoyaltyRevenue`	$309.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$1.56M	USD	3 Qtrs
Contract revenue	`ContractsRevenue`	$11.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$722.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$1.06M	USD	3 Qtrs
Development revenue	`OtherSalesRevenueNet`	-	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	-	USD	3 Qtrs
Development revenue	`OtherSalesRevenueNet`	$1.69M	USD	3 Qtrs
Development revenue	`OtherSalesRevenueNet`	$230.00K	USD	1 Quarter
Total revenue	`Revenues`	$2.40M	USD	1 Quarter
Total revenue	`Revenues`	$2.80M	USD	3 Qtrs
Total revenue	`Revenues`	$968.00K	USD	1 Quarter
Total revenue	`Revenues`	$7.34M	USD	3 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$28.00K	USD	3 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$1.81M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$5.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$4.92M	USD	3 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$3.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$363.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$507.00K	USD	3 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$792.00K	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$5.71M	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$1.81M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$368.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$535.00K	USD	3 Qtrs
Gross profit	`GrossProfit`	$600.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.63M	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.26M	USD	3 Qtrs
Gross profit	`GrossProfit`	$585.00K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.23M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$6.14M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$7.15M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$2.37M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$5.39M	USD	3 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$5.74M	USD	3 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.87M	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	-	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$1.00K	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$1.00K	USD	3 Qtrs
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$455.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$3.96M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.88M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$4.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$12.08M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-9.82M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.52M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-10.25M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.36M	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-4.97M	USD	3 Qtrs
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	3 Qtrs
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-5.00M	USD	Point-in-time
Other income, net	`OtherNonoperatingIncome`	$1.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$5.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncome`	$6.00K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncome`	$10.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-14.77M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-10.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.35M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.36	USD	3 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.08	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.22	USD	3 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.07	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	43.86M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	47.22M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	46.29M	shares	3 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	40.60M	shares	3 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-14.77M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-10.24M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.35M	USD	1 Quarter
Depreciation	`Depreciation`	$297.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$331.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$99.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$96.00K	USD	3 Qtrs
Non-cash share-based compensation expense	`ShareBasedCompensation`	$718.00K	USD	3 Qtrs
Non-cash share-based compensation expense	`ShareBasedCompensation`	$717.00K	USD	3 Qtrs
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-4.97M	USD	3 Qtrs
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	3 Qtrs
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-5.00M	USD	Point-in-time
Inventory write-downs	`InventoryWriteDown`	$42.00K	USD	3 Qtrs
Inventory write-downs	`InventoryWriteDown`	$287.00K	USD	3 Qtrs
Non-cash adjustments	`OtherNoncashExpense`	$-76.00K	USD	3 Qtrs
Non-cash adjustments	`OtherNoncashExpense`	$-46.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$553.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-95.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$440.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$72.00K	USD	3 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-43.00K	USD	3 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-118.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$110.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-53.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-6.00K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$7.40M	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-225.00K	USD	3 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-577.00K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.91M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.16M	USD	3 Qtrs
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$34.00K	USD	3 Qtrs
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$173.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$1.01M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-139.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	USD	3 Qtrs
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$15.00K	USD	3 Qtrs
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	-	USD	3 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$15.58M	USD	3 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$5.98M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.98M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$15.57M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.52M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.81M	USD	3 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	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`	$10.90M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	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`	$10.90M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$2.00K	USD	3 Qtrs
Cash paid for interest	`InterestPaid`	$1.00K	USD	3 Qtrs
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	-	USD	3 Qtrs
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$155.00K	USD	3 Qtrs
Issuance of common stock for exchange of warrants	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	3 Qtrs
Issuance of common stock for exchange of warrants	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$9.87M	USD	3 Qtrs

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