However, the NASDAQ action on April 16 also extends the company’s time period for compliance with the market value listing requirement to November 27, 2020. Sumit Sharma, MicroVision, Inc. - CEO & Director [5]. Coronavirus update: Johnson & Johnson vaccine enters phase 3 as Fauci heads to Senate. For the first quarter, revenue was $1.5 million with approximately $1.2 million of product revenue, $212,000 of royalty revenue and the balance from contract revenue. We also used our equity facility with Lincoln Park Capital to raise another $6.2 million. The 2nd one (the shareholder meeting) might end up being the more intriguing of the 2, but for now, folks are making plays based on the earnings call on Thursday. I would assume most people will start selling Thursday afternoon, so you can even wait till Thursday morning to play it safe. So that as of today, our cash balance is approximately $9.1 million. Q1 2020 MicroVision Inc Earnings Call. Delisting would make MicroVision less appealing to institutional investors and limit the pool of potential investors, which would make it more difficult for our investors to obtain a quote or sell their shares. On behalf of our employees and Board of Directors, I'm proud of the body of work done over more than 20 years to get to this inflection point. We will now open the call for questions. We believe our laser beam scanning technology is appealing and could provide cost-effective solutions to enable solid-state LiDAR for consumer and automotive applications in the near future, and could also provide a path to a wider field of view and low power microdisplay modules for augmented and mixed reality headset products. It simply gives the company more time to meet the minimum bid price listing requirement before effecting a reverse split, if such a split is approved by the company's shareholders. Write CSS OR LESS and hit save. Did Dwyane Wade plant seeds for Jimmy Butler’s arrival in Miami while both were with the Bulls. First quarter cost of revenue was $1.4 million, which included $168,000 in write-offs of materials and other items related to our interactive display product. I would like to clarify with an example., More posts from the pennystocks community, A place to discuss penny stocks freely. For those not familiar with ISS and Glass Lewis, both firms are widely recognized as leading independent institutional proxy advisory firms in the United States. 29, 2019 Microvision, Inc. (MVIS) CEO Perry Mulligan on Q4 2018 Results - Earnings Call Transcript Thank you for your participation. Before we open the call to questions, I would be remiss if I didn’t thank our hard working employees and partners for continuing to work, in many cases remotely during the COVID-19 pandemic. REDMOND, Wash., April 30, 2020 (GLOBE NEWSWIRE) -- MicroVision, Inc. (MVIS) , a leader in innovative ultra-miniature projection display and sensing technology, today announced that it will report its first quarter 2020 results on Thursday, May 7, 2020. This compares to a loss of $3.3 million or $0.03 per share in the fourth quarter. There were also other nonrecurring expenses and credits in the quarter. Good afternoon, everyone. No, I took a scan through their annual report and it looks like about 80% of their revenue is from a single customer. I would like to clarify with an example. For the first quarter, revenue was $1.5 million with approximately $1.2 million of product revenue, $212,000 of royalty revenue and the balance from contract revenue. Royalties that are due to MicroVision will be credited against the prepayment made by the customer. To comment/post:, Press J to jump to the feed. There is no potential scenario that we see where MicroVision would be required to repay any portion of the $9.3 million prepayment. Thomson Reuters StreetEvents • June 15, 2020. However, we believe, for the reasons I just mentioned and others noted in our proxy, it is in our best interest as shareholders to approve this key proposal. 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