10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001136261-20-000116`
Period End Date	20200331
Filing Date	20200508
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	mvis-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 24 Cash Flow Statement 56 Stockholders Equity 14

Balance Sheet 83 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Accounts receivable, net of allowances of $0 and $0, respectively	`AccountsReceivableNetCurrent`	$1.08M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $0 and $0, respectively	`AccountsReceivableNetCurrent`	$552.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ReceivablesLongTermContractsOrPrograms`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`ReceivablesLongTermContractsOrPrograms`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventory	`InventoryNet`	$192.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$729.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$413.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.84M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$3.29M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	130.88M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.85M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	125.80M	shares	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$1.31M	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$1.22M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	125.80M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	130.88M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$221.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$207.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$186.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$11.84M	USD	Point-in-time
Total assets	`Assets`	$6.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.87M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$837.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.04M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$15.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$21.00K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$9.76M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$9.27M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$42.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$83.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$661.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$656.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$23.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$25.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.96M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.46M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.21M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$1.35M	USD	Point-in-time
Finance lease obligations, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$5.00K	USD	Point-in-time
Finance lease obligations, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$9.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.81M	USD	Point-in-time
Commitments and contingencies (Note 9)	`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; 150,000 shares authorized; 130,878 and 125,803 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$126.00K	USD	Point-in-time
Common stock, par value $0.001; 150,000 shares authorized; 130,878 and 125,803 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	`CommonStockValue`	$131.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$568.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$570.13M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-577.53M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-572.60M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-3.98M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.27M	USD	Point-in-time
Total liabilities and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$6.90M	USD	Point-in-time
Total liabilities and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$11.84M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.84M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.41M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.76M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.20M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$1.47M	USD	1 Quarter
Revenues	`Revenues`	$1.85M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.40M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.24M	USD	1 Quarter
Gross profit	`GrossProfit`	$608.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$70.00K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$5.97M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$3.68M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.77M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.70M	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	$450.00K	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.67M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.93M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.06M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-4.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.07M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.08	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.04	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	101.97M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	127.21M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.07M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$552.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$246.00K	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-450.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$351.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$189.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$168.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-527.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-202.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	-	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$212.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-24.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-47.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$451.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$220.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-193.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$242.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-332.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.21M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-6.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	-	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$5.00K	USD	1 Quarter
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-525.00K	USD	1 Quarter
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-59.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-160.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-161.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.44M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.65M	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$525.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$313.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$75.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-313.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$450.00K	USD	1 Quarter
Principal payments under finance leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$4.00K	USD	1 Quarter
Principal payments under finance leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$6.00K	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.48M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.18M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.48M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.17M	USD	1 Quarter
Change in cash and cash equivalents, and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.79M	USD	1 Quarter
Change in cash and cash equivalents, and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.51M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.20M	USD	Point-in-time
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$221.00K	USD	1 Quarter
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$37.00K	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balances	`StockholdersEquity`	$-2.43M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$-7.27M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$4.12M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$156.00K	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$351.00K	USD	1 Quarter
Sales of common stock	`StockIssuedDuringPeriodValueNewIssues`	$1.17M	USD	1 Quarter
Sales of common stock	`StockIssuedDuringPeriodValueNewIssues`	$1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.07M	USD	1 Quarter
Ending balances	`StockholdersEquity`	$-2.43M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$-7.27M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$4.12M	USD	Point-in-time

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