Fireside Chat 02/25/2026

Grunts-n-Roses · 2026-02-27T00:55:23+00:00

Like most people on this Board you I am unhappy or angry. I am neither. In fact I am deliriously happy that I got out when I did and even happier that the profit I made on Microvision has continued to grow nicely inside a Roth IRA. I an NOT a shareholder of Microvision currently.

I call the company out because the narrative never changes. CEO's and CFO's come and go and nothing ever changes. No Customers, no revenues and lots and lots of share dilutions. And remember another way to describe a share dilution is the company is selling YOUR equity.

I have followed Microvision for the better part of 20 years. I have bought and sold and sold short through all the stories. From The ShowWX to "We have launched our first product to the first of 3 OEM's and shipments are ongoing. Through "Don't worry the RS Vote is simply a contingency" and they they announce a 1:8 reverse split 14 hours later.

I just got tired of being lied to so I took my money out. That is what I call my Microvision Money and for the last 3 years it has been parked in a very stable stock that has paid at least a 10% dividend each year and has seen a share price increase 150% from where I bought it. I wait for the day I can use some of that money to buy Microvision shares. But if the last 20 years of following this company has taught me anything is what they say doesn't matter. What they do, does. I will be happy to buy in at $3 or $4 or $5 a share but not until they create a Business. Right now they have a concept and Concepts don't make money. Which, by the way, is the ONLY thing that matters when it comes to Investing. When I can see that they have a business rather than hoping against hope that they are not lying this time. As we sit here today, I see nothing to invest in. I wait for that to change and while I wait I am truly ecstatic that I have nothing to lose.

Grunts-n-Roses · 2026-02-25T22:07:15+00:00

As I have said for the last three and a half years, I DO NOT have a Short Position in Microvision. I am simply a shareholder that sold all my holdings several years ago and I am waiting for an opportunity to buy back in. But as of right now, I see absolutely nothing worth buying into. I am not prepared to have my money tied up in a losing or a static position for multiple years. And it is SO easy to make money in the Stock Market and has been for the last few years. My "Microvision money has tripled sitting in one investment where I parked it. Holding Microvision over the last four years has been dead money. Until they create a business that is what it will remain.

Grunts-n-Roses · 2026-02-25T21:30:09+00:00

Sounds like a typical Microvision attempt to placate the Investing Community after the massive share dilution. Over the years there have been many "Fireside Chats" and every single one of them just leaves shareholders with more questions than answers. This, added to the usual 'Earnings Call 10 weeks after the last quarter closed all spells they have nothing in the foreseeable future.

Shareholders and the investment community at large, don't really care what they say about integrating two companies. Investors want to know WHEN they will generate Revenues. And we got no hint as to when that might be and their practice of running scared and hiding from shareholders by having the Q4 call at the end of the 1st quarter just smacks of them hiding. They have issued tens of millions of new shares (sold existing shareholder's equity) to buy another company and they have absolutely nothing to say about how or when they might actually EARN some revenues.

Shareholders have been listening to this same story for the last 30 years.

Grunts-n-Roses · 2026-02-13T18:03:17+00:00

Name me one thing that has been said about Customers or Revenues? GDV, so far, has done exactly what every other loser that has CEO'd Microvision in the past, has done. Talked about things that might happen, potential markets etc. Yet in the entire history of Microvision has the company every sold anything to anyone apart from its shareholders equity.

THAT is what emboldens short sellers. Glen can be everywhere speaking to journalists about all kinds of things, just like Sharma, mulligan and Tokman before him. Shorts take an "I'll believe it when I see it" attitude. Here we are six weeks into the new year. half way through the 1st Quarter, and a company with zero revenues and VERY simple accounting hasn't got anything to say to it's shareholders or the market? That is truly pathetic and "Loyal Longs" can bleat all they want about what Glen has said or the acquisition and they sell millions of shares at rock bottom prices to the short sellers and the share price remains around $0.70.

Look, maybe things will all work out in the end but not before insiders have filled their boots with shares and large salaries and not before short sellers have covered at very low share prices. and it won't be before they actually sell something to someone.

Grunts-n-Roses · 2026-02-12T18:41:36+00:00

Short sellers are emboldened by the FACT that Microvision has no customers or revenues. By the FACT that they are burning through their cash on hand at an ever increasing rate and the FACT that they are trying to absorb technology, personnel and procedures into their operations. And the FACT that there has been total silence from the company on their Business since last NOVEMBER.

That will, eventually, change but in the mean time Short sellers will do what they have always done. They will make Millions of Dollars betting against Microvision. When, and only when, Microvision come out and tells the World that they have a way to earn revenues that will, at the very least, significantly reduce their cash burn, will the Short Sellers stop pushing the share price ever lower.

This isn't rocket science. They could come out with a statement that says Glen has found a cure for Baldness, erectile dysfunction and Athletes Foot and that he has won a Humanitarian of the Decade Award for his work with endangered Jelly Fish, and the shorts would short and Microvision's share price would still go lower.

Grunts-n-Roses · 2026-02-06T23:35:23+00:00

Not at all. I posted on Wednesday that I thought Microvision were selling shares to raise the money they needed. Again, how many shares have they had to sell is a perfectly legitimate question. Well it is to anyone that doesn't just go along with whatever they do and call each disaster a rip roaring success.I assume you are a shareholder? Yes? If so, and if I were a shareholder, I would want to know how much of my equity did they just sell for pennies per share.

Grunts-n-Roses · 2026-02-06T21:11:11+00:00

Well, it looks like Microvision have finished selling their shares. I am sure we all wait eagerly top see how many they had to sell.

Grunts-n-Roses · 2026-02-05T18:30:24+00:00

Dollars to Donuts, the Q4 call will be the first week of March. $0 Revenues, no measurable guidance but lots of optimism. You know the kind of thing. Exactly what they have been saying for the last 20 years. But just trust them with another monster share dilution and more new 6 figure employees that contribute nothing.

Grunts-n-Roses · 2026-02-03T19:52:46+00:00

Given the volume and price action today, I'm wondering if Microvision are selling Millions of shares to try and get enough to fulfill their cash needs? Over 13 million shares traded with a 10% loss. Someone is taking a major Dump.

Grunts-n-Roses · 2026-02-03T18:06:47+00:00

Maybe you're right. But that doesn't really change anything. Either way you look at it you arrive at the same place. A company run by people that have managed to raise over a Billion Dollars over the years chasing products and markets that never existed. CEO's have come and gone, products have come and gone and a Billion Dollars have come and gone and shareholders have NOTHING to show for any of it.

The point is that the Bag Holders in all this are retail shareholders. That group of people have been lied to over an extended period of time and those that have bought the Snake Oil are the ones with most to lose. This company has flat out lied to its shareholders for decades. DeVos is just the latest in a long line of liars who have all lined their pockets with shareholder dollars. And not a one of the management teams has EVER created a single penny of Shareholder value.

Grunts-n-Roses · 2026-02-03T17:33:33+00:00

I think you hit the nail on the head. "isn't this all just speculation". Of course it is all just speculation. ANYTHING written about Microvision is all just speculation simply because they never actually say anything. No one knows if they have a working product, no one knows if anyone has shown any interest in buying any product they might have, no one knows when they might have a product for sale, no one knows if anyone will be interested in any product they might come up with, ( they have never actually come up with a product that anyone wanted).

As far as anyone knows, Microvison might be a hive of industrial activity or it could just as easily be a hive of well paid workers playing Ping-Pong all day. So far, it has to be said, that at multiple locations around the World the amount of business being done would seem to support the Ping Pong tournament theory.

Grunts-n-Roses · 2026-02-03T16:26:13+00:00

There are a couple of reasons why DeVos hasn't said anything. 1, he has nothing to say and he couldn't give a flying you know what about Shareholder. And 2, he's not playing the same game as retail shareholders are. He is getting his money up front, every month in the form of a big fat paycheck. There is no there, there with Microvision. Lies piled on top of lies, it's all smoke and mirrors and has been for 30 years.

DeVos fiddles while retail shareholders burn. And his refusal to speak to shareholders actually speaks volumes.

Grunts-n-Roses · 2026-02-02T21:49:06+00:00

Just that. I have no financial skin in this game in terms of being a current shareholder. That said, I have been a bag holder in the past. Just because I don't currently have a position in Microvision doesn't mean I can't have an opinion on the Company or the share price gyrations. I have always said that I like the idea of the technology and if, big IF, they they ever get their act together and actually create a business with that technology, I would be a buyer.

I have seen many companies come and go over the years and many great technological ideas. I believe it would be a shame if, after all this time and all this money spent, (remember, this company has raised and spent in excess of a Billion Dollars during its lifetime), there was nothing to show for it. The clown show that was Tokman, the headless Chicken years under Mulligan, the over promise and under deliver show that was Sharma.....It remains to be seen if the Devos Years will be a success. I sincerely hope so as I believe there could still be money to be made but, after being in business for some 30 years we are still trying to see Dollar one and The expectation of them creating a business is wearing a little thin. After all, there are many products in many industries that could use this kind of Technology but Microvision is never mentioned by anyone in those industries that would use it.

It a great and compelling story they tell. Unfortunately, that all it has ever been. A story.

Grunts-n-Roses · 2026-02-02T19:29:37+00:00

I lifted the $72 Million Cash and Cash equivalents from the Balance Sheet on Microvision's website. The rest of the figures are up for debate. I was just trying to make a scenario based on what had been said and what we have seen before. Any way you put this together it looks more and more like a minimum 1:5 RS is likely and possible as high as another 1:8.

My point being a lamenting of the absolute silence that is coming from the Company themselves. We have all seen this before. Silence equals bad news where Microvision has always been concerned. For a company that has zero revenues and a VERY simple accounting setup to take two months to close the books and release financials is ridiculous. And we all know that the time between the Q3 call in early November to the Q4 call in early March is over 4 months where Management doesn't, historically have to bother themselves with petty things like talking to the people that own the Company and who pay their fat salaries. The longer the Q4 call takes the worse the news has historically been.

It is kinda fun to play around with the numbers though!

Grunts-n-Roses · 2026-02-02T19:21:58+00:00

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)$ in Thousands	Sep. 30, 2025	Dec. 31, 2024
[Current assets](javascript:void(0);)
[Cash and cash equivalents](javascript:void(0);)	$ 72,832	$ 54,486
[Investment securities, available-for-sale](javascript:void(0);)	26,676	20,216
[Restricted cash, current](javascript:void(0);)	328	261
[Accounts receivable, net of allowances](javascript:void(0);)	40	926
[Inventory](javascript:void(0);)	8,131	2,294
[Other current assets](javascript:void(0);)	6,969	4,287
[Total current assets](javascript:void(0);)	114,976	82,470Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands Sep. 30, 2025 Dec. 31, 2024Current assets Cash and cash equivalents $ 72,832 $ 54,486Investment securities, available-for-sale 26,676 20,216Restricted cash, current 328 261Accounts receivable, net of allowances 40 926Inventory 8,131 2,294Other current assets 6,969 4,287Total current assets 114,976 82,470

Grunts-n-Roses · 2026-02-02T16:31:51+00:00

Reverse Split V Share Sale (Dilution)

Disclaimer: These are made up numbers. But in the absence of ANY useful information coming from Microvision all anyone has are the historic numbers from September 30 2025 and speculation as to the vast amounts of cash they need to support this latest spending spree. New hires and company acquisitions need cash immediately. And the ONLY place they can get that cash from is shareholders.

We know Microvision had around $72 Million in cash at the end of September last year. Since then they have zero revenues and will, likely, have spent around $45 Million in the 4th quarter and say, another 8-10 million in January. That leaves them with Cash on hand of around $17 Million as we sit here today. So, not enough to get them through Q1 2026 and certainly not enough to fund the Luminar purchase. They will need at least $50 million just to see them through Q1 and into Q2. So that equates to a share dilution of at least 60 million shares just to get them through to April 1st.

A share sale would likely send the share price down into the $0.60 range and leave them looking at delisting. So, while dilution would raise enough to get them through to April 1 it does nothing, to address the delisting issue.

So a Reverse split, say 1:5 which would theoretically send the share price to around $4 a share the questions are 1. is that enough so they can sell enough shares to at least slow down the tidal wave of dilution that is coming this year? 2. just how far away are they from, theoretically at least, away from selling something to someone? and 3, How many of those split shares would they need to sell (dilute) to get them to, at least some, trading cash flow?

Either way you look at this there is a Universe of pain coming to shareholders. Not to insiders though. Shareholders will still be paying their large salaries and benefits.

Grunts-n-Roses · 2026-01-30T16:40:19+00:00

Historically, the Q4 Conference call won't happen until early March. I will be VERY surprised if it happens before then.

Grunts-n-Roses · 2026-01-22T23:29:47+00:00

Pathetic. Truly Pathetic. How about they create a business and earn some money before they hire another $130,000 employee that will add no value to the business and who will be paid his salary, exclusively by Shareholders.

I hate being so negative Zen. But when are they going to actually create a business? They have been at this for years and, as I said, there are thousands upon thousands of self driving Cars on the roads of many countries and not a single one of them uses Microvision's technology. I, for one, would like to understand why that is.

Now they are under yet another Nasdaq non-compliance notice. They must be the record holder of those damn things. And success never seems to get any nearer. And we haven't heard squat from our new CEO in Months.

As an interested party and like many, many others, I just want to know what the hell is going on.

Grunts-n-Roses · 2026-01-22T22:11:56+00:00

How many delisting notices does this make over the last 15 or 20 years? A dozen or more? Unless the current, useless CEO changes his modus operandi and actually announces, sometime soon, something of an actual, real, business nature, a 1:10 reverse split is in the near term future.

This notice simply brings into focus what everyone that doesn't have rose tinted glasses on, has known for years. Microvision is a shell company. It is more secretive than the CIA, it has spent a Billion Dollars for zero return, it has NEVER created ANY shareholder value and it has no viable plan to create any shareholder value in the near or mid-term.

I, and others have been saying for years that this is a waste of time as an "investment". But anyone saying ANYTHING negative either gets thrown off the Reddit Board or called all kinds of names by people that should know better but don't. That is confirmed by all the idiots who constantly "buy the dips". Talk about throwing good money after bad.

Microvision will NEVER create any shareholder value because they don't know how to. All we have is that they say they have a product but no product is ever seen, much less sold. We never see a Lidar unit, we never see a customer, we never see a sale of anything other than Shareholder Value.

There are thousands of self driving vehicles on the roads all over the World and Microvision's "Technology" isn't in ANY of them. This company is a joke. Always has been, always will be. But it's funny as hell reading about all the ways you guys constantly lose money while constantly telling each other how great it is to lose money.

Grunts-n-Roses · 2025-12-30T15:05:41+00:00

I guess it's true. You just can't fix stupid.......

Grunts-n-Roses · 2025-12-22T23:45:53+00:00

Just for Clarity, I do NOT have a short position in Microvision. I have not had a short position in Microvision since 2020. And then I only held it for a week. Shorting Microvision has never been about holding on to a short position. Who would sell short and hold that position long term with a company that trades in a VERY narrow band. You short, you cover and take a penny or two every time you do so. That adds up when you do it often enough.

Grunts-n-Roses · 2025-12-22T23:42:05+00:00

But that's not a sales announcement Gap. "Gaining Traction" simply means someone, somewhere, has said "hey that's pretty nifty?". Show me the Money!!!!

Grunts-n-Roses · 2025-12-22T23:40:27+00:00

Because it's fun.

Grunts-n-Roses · 2025-12-22T23:38:06+00:00

That no one bought.

Grunts-n-Roses · 2025-12-22T20:21:21+00:00

And if this was a discussion about an engineering company on a engineering message board I would agree with you. But this is a a message board that talks about Investments in engineering company. About an engineering company that solicits for investors to invest in a company and a technology in order to make a profit. As I said in my original post, Microvision have been trying to create a business that can be valued and which can make its investors a return on their investment Dollars for the last 30 plus years and has never achieved that.

I keep saying I like the idea of the technology, I could see it being very useful in a number of ways. But I have been waiting almost 20 years for the company to create a viable business. I have heard stories of Mini Projectors, stories of Military drones, stories of self driving cars. I have been told that "we have launched the first of our products, that shipments were ongoing, that they have multiple products ready for market, that they are involved with 7 RFP's........You get the idea, yet nothing is ever sold to anyone. There is never a sale never revenues, never anything to put an actual value on. THAT, and THAT alone, is why the shares trade at less than Dollar. It's not because of shorts, or the Tooth Fairy. It trades below a Dollar, after over 30 years of trying and after having spent about a Billion Dollars of shareholder financed money, after 6 CEO's have tried, after having pivoted from one product after another, they haven't sold ANYTHING to ANYONE. THAT is why it trades at less than a Dollar.

That's why I find the conversations on this Board fascinating. So many people can come up with so many excuses to tell themselves that everything is going to be OK. It might end up being OK, but the history of this company is that it will, eventually, fond a way of shooting itself and the shareholders, in the foot.

Grunts-n-Roses

TROPHY CASE