Archive for the ‘Uncategorized’ Category

2014 Annual Shareholder Meeting Results


June 4th, 2014
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The 2014 MicroVision Annual Shareholder Meeting was held June 3, 2014. It was nice to meet investors and see familiar faces from previous meetings.

Alex Tokman, MicroVision CEO, gave a business update which can be viewed in the Presentations section of the Investors area on the MicroVision website.

A form 8-K was filed today reporting the results on the five matters before the shareholders. The results are as follows:

Proposal 1.  All of the Company’s nominees for director were elected by the votes set forth in the table below:
  Nominee For Withheld
Richard A. Cowell 5,677,137 324,547
Slade Gorton 5,627,359 374,325
Jeanette Horan 5,685,148 316,536
Perry Mulligan 5,672,607 329,077
Alexander Tokman 5,542,460 459,224
Brian Turner 5,683,510 318,174
Thomas M. Walker 5,705,898 295,786

 

Proposal 2.  The stockholders approved the proposed amendment to the 2013 MicroVision, Inc. Incentive Plan by the votes set forth in the table below:
For: 5,036,333
Against: 784,470
Abstain: 180,881

 

Proposal 3.  The stockholders ratified the appointment of Moss Adams LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2014, by the votes set forth in the table below:

 

For: 27,753,626
Against: 711,653
Abstain: 448,405

 

Proposal 4.  The stockholders approved on an advisory basis, the compensation for the Company’s named executive officers by the votes set forth in the table below:

 

For: 5,105,059
Against: 718,557
Abstain: 178,068

 

Proposal 5. The stockholders did not approve the underwritten offering of common stock and warrants to purchase common stock that the Company completed on March 18, 2014 by the number of shares required.  Such proposal required approval by a majority of the votes cast at the meeting, provided (i) the number of votes cast in favor of the proposal must exceed the number of votes cast against the proposal by at least 7,160,000 shares, which is the number of shares of common stock issued pursuant to such offering, including shares issued on exercise of the warrants since the completion of such offering, as of the record date.  The votes are set forth in the table below:

 

For: 5,505,577
Against: 395,161
Abstain: 100,946

Posted in Investor Relations, Uncategorized | Comments Off

Pico Projector Market Forecast


April 30th, 2014
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Earlier this week we posted to our social media sites a reference to a market research report on pico projector growth over the next several years. As is sometimes the case with social media, upon closer inspection of content, in this case the forecasts in the report, we realized that the data point for 2013 did not seem accurate to us when compared to other industry forecasts and our own tracking of the market. In fact it was in the neighborhood of 10 times higher. We believe that assessments of the 2013 market value for pico projection in the low hundreds of millions (USD) from two to three million units are more accurate and the new report forecasting over three billion USD from twenty five million units was an anomaly. We have since taken the posts down from our social media channels and we apologize for any confusion the information we shared may have caused our followers.

Sony Develops Pico Projector Module Incorporating PicoP Display Technology


February 24th, 2014
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Last week Sony announced the development of a pico projector module “equipped with Sony’s independently-developed image processing system, that uses laser beam scanning (LBS)” and “incorporates the PicoP technology developed by MicroVision, Inc.”

We are extremely pleased and gratified that laser beam scanning technology that MicroVision pioneered is being adopted by a technology leader and innovator like Sony. With its expertise in projector and optical technology, leadership in semiconductor lasers and track record with innovative, high quality consumer electronics, Sony’s interest in pico projection and adoption of LBS is a significant development for the market as a whole.

Sony pico projector engine

We have been supporting Sony in their development of this engine module since April 2013 and look forward to continuing our work with them.

In their press release Sony said that it “aims to bring it to market for use in pico projectors and other devices with projector functionality.” Since the release was published, MicroVision has gotten a number of inquiries asking for confirmation that our technology is being is being incorporated in Sony’s display module and asking for more details related to the terms of any agreements and forecasts for revenue related to the relationship.

We understand the strong interest Sony’s press release generated and we issued a release today confirming the adoption of PicoP display technology by this Fortune Global 100 electronics brand.

At this time we are not disclosing potential license and supply terms for future products resulting from the development of this engine module. We are engaged in discussions and negotiations on commercial terms for next level agreements and will announce terms as appropriate in the future.

For more information on Sony’s announcement, click here:

Sony Develops Pico Projector Module with High-Definition Resolution and Focus-free Image Projection

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