Posts Tagged ‘Investors’
March 8th, 2012
by Tiffany Bradford
We are pleased to report that we have received a letter from NASDAQ confirming that as of March 5, 2012 we had regained compliance with Listing Rule 5450(a)(1). The company’s shares will continue to be traded on The NASDAQ Capital Market under the symbol MVIS.
On February 27 we released our 2011 results and an overview of our strategy for 2012 and held a conference call to discuss them. The key takeaways are that we achieved our 2011 goals of growing revenue, significantly reducing operating cash requirements, and advancing our PicoP Gen2 display engine and that our objectives for 2012 include launching our PicoP Gen2 engine, securing customer commitments to design products incorporating our PicoP Gen2 engine, and transitioning to an ingredient brand model. We continue across the MicroVision organization to focus on the priorities that enable us to meet our goals again this year.
February 24th, 2012
by Tiffany Bradford
Yesterday we announced that we will host a conference call to discuss our 2011 financial and operating results and objectives for 2012 on Monday February 27, 2012. We will report successful achievement of our three primary objectives for 2011 including:
- Advancement of our next-generation HD PicoP display technology based on direct green lasers for commercialization in the first half of 2012.
- Revenue growth of 18% from 2010.
- Reduction in cash used in operations of 40% compared to the prior year.
We will provide more details during the call on the 2011 results as well as outline our 2012 objectives. If you have questions or suggested discussion points for our call, please post them here or email them to me at IR@microvision.com. We will use your feedback to address the most popular topics on the conference call. Thanks in advance for your feedback.
Call date: February 27, 2012
Call time: 8:30 a.m. ET / 5:30 a.m. PT
Number to call: (866) 272-9941 (U.S.) or (617) 213-8895 (international)
Webcast access: www.microvision.com/investors
February 17th, 2012
by Tiffany Bradford
Today we completed a 1-for-8 reverse stock split of our common stock. Trading on a post-split basis will begin February 21, 2012 at market open. The reverse stock split was approved by MicroVision stockholders at a special meeting on February 16, 2012. Shareholders of 94.1 million shares of MicroVision stock, which represents 69% of the total outstanding shares, voted “FOR” the proposal. Of the shares voted, approximately 83.5% voted in favor of the proposal.
An amendment to our certificate of incorporation became effective today, effecting the reverse stock split and decreasing the number of authorized shares of common stock to 100 million.
The reverse stock split will decrease the number MicroVision common shares outstanding from approximately 136.1 million shares to approximately 17.0 million shares. The number of shares available under the company’s equity-based plans also will be proportionately reduced.
Each eight shares of our outstanding common stock will be automatically combined into one share of common stock. The reverse split will affect proportionately all issued and outstanding shares of MicroVision’s common stock and common stock underlying stock options, unvested stock awards and warrants outstanding as of February 17, 2012. No fractional shares of common stock will be issued in connection with the reverse split. Shares held by each record holder will be rounded up to the nearest whole share.
We have retained our transfer agent, American Stock Trust and Transfer Company (“AST”), to act as our exchange agent for the reverse split.
‘Street Name’ Holders
Shareholders owning shares in “street name” via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers’ particular processes, and will not need to take any action in connection with the reverse stock split.
Shareholders of Record and Physical Certificate Holders
MicroVision will send shareholders of record as of February 17, 2012 a letter with instructions for the exchange of their certificates. Shareholders should not destroy any stock certificates, but should submit certificates for exchange in accordance with the materials to be distributed by AST.
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