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Microvision, Inc. Announces That It is in Full Compliance with Nasdaq Marketplace Rule 4350(I)(1)(D)

October 28, 2005 By JSMT Media

Microvision, Inc. Announces That It is in Full Compliance with Nasdaq Marketplace Rule 4350(I)(1)(D)
10/28/2005 5:53:00 PM
BOTHELL, Wash.–(BUSINESS WIRE)–Oct. 28, 2005–Microvision, Inc.
(Nasdaq:MVIS), a leader in light-scanning technologies, today
announced that it is in compliance with Nasdaq Marketplace Rule
4350(i)(1)(D).

Nasdaq had determined that (i) Microvision’s transactions
involving the sale of its convertible preferred stock and warrants in
September 2004, as amended in August 2005, and sales of common stock
and warrants in August 2005 should be aggregated and (ii) as
aggregated, those transactions could conceivably result in the
issuance of greater than 20% of Microvision’s common stock if the
weighted-average antidilution adjustments of the preferred stock
significantly reduce the related conversion price. As a result of this
potential, Nasdaq determined Microvision was not in compliance with
Nasdaq Marketplace Rule 4350(i)(1)(D). In a letter to Nasdaq,
Microvision stated it would use its best efforts to seek an amendment
to the terms of the preferred stock arrangements within 30 days, and
that if it is unable to secure such an amendment, that it will not
take any action that would cause the number of shares of its common
stock issued as a result of these transactions to exceed 19.99% of the
total shares of Microvision common stock outstanding as of August 9,
2005. On October 27, 2005, Nasdaq notified Microvision in writing of
(i) the deficiency described above, (ii) that it had regained
compliance with Nasdaq Marketplace Rule 4350(i)(1)(D) and (iii) that
this matter is now closed. Nasdaq’s Marketplace Rule 4803(a) requires
that Microvision make a public announcement of Nasdaq’s letter and the
Nasdaq rules on which it is based.

About Microvision: www.microvision.com

Headquartered in Bothell, Wash., Microvision Inc. is the world
leader in the development of high-resolution displays and imaging
systems based on the company’s proprietary silicon micro-mirror
technology. The company’s technology has applications in a broad range
of military, medical, industrial, professional and consumer products.


    CONTACT: Microvision, Inc.
             Brian Heagler, 425-415-6794 (Investors)
             Matt Nichols, 425-415-6657 (Media)

    SOURCE: Microvision, Inc.

Filed Under: Uncategorized

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About MicroVision

MicroVision is the creator of PicoP® scanning technology, an ultra-miniature sensing and laser projection solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced sensing and display solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world.

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