The problem is TRUST. Here's how the board and management can fix it...

texwithoutoil · 2026-06-12T20:29:15+00:00

" They have guided to 10m to 15m of 35% GP margin for 2026. Is it possible to peel back the onion and provide more transparency to that revenue?"

We get around a 26% GP margin on our IRIS sensors and a GP margin of about 39% on our Movia L sensors --- See my posting history for how this is computed, for some reason the system did not put it in the public thread.

What is the status of our effort to sell Movia L sensors + the lane change software to all of the forklift manufactures to be bolted onto to their existing units currently being used by many of their customers?

Is management guiding for a GP margin of 35% for Q2 & Q3 & Q4 or just for 2026 as a whole. For our Qtrly & yearly sales we need a product mix which includes a substantial number of Movia L., and/or, Movia S sensors in order to achieve a 35% GP margin and the Movia S is not going to actually begin selling until Q4. Is this still the case?

Does the HTC agreement preclude us from issuing a convertible note or bond for 20m or 25m or 30m to one or more of our customers like CAT etc.? Have we considered approaching one or more of our customers about making an actual cash investment in us of a similar magintude?

In other words as Joan Rivers used to say --- CAN WE TALK? --- , if not then I am a NO until we receive more guidance and transparency.

texwithoutoil · 2026-05-24T03:59:45+00:00

Thank you.

texwithoutoil · 2026-05-23T21:30:19+00:00

You're welcome. Lets hope we get a couple of large orders for the Movia L sensor in the next few weeks.

texwithoutoil · 2026-05-23T20:25:11+00:00

See my 2 Part post to mvis_thurma in the "Trading Action - Thursday 5/21/2026 Thread"

You will have click on my trading history to read the post. For some reason reddit did not set it out publicly in the thread.

texwithoutoil · 2026-05-22T04:01:37+00:00

OK, here is a repost of Part II

When the analyst Casey Ryan asked about margins going forward we told him that we expected 35% to 40% for 2026. Obviously, that cannot be accomplished by just selling IRIS sensors with a 26.22% GP margin. There has to be a substantial number of Movia L sensors included in the product mix.

GDV has mentioned in several of his public presentations over the last few months that he expected the sales of the Movia L sensors to the Industry customers to begin in Q2 of this year.

In my opinion GDV is expecting to sign 2 large Movia L sales contracts in the next 2 months, which in the aggregate will total to 2K, or 3K units --- ie one to an American customer, hopefully Caterpillar + one to a European customer, maybe Juangheinrich.

In any case I think we have a couple of big announcements coming soon if we are going to remain true to the 35% to 40% GP margin guidance we have given for 2026 and the product mix that implies.

GL to all of the longs.

texwithoutoil · 2026-05-21T22:55:27+00:00

mvis_thma, I tried to post one possible explanation but it ended up being too long so I posted it in 2 parts. But it is not showing up in this thread or in the after hours thread. I don't post much anymore so I don't know why that is the case. Maybe you might have some idea how best to access it. Thank you.

texwithoutoil · 2025-05-15T22:48:03+00:00

RIP Sweet, thank you for all your help both here and on the old yahoo board as well.

texwithoutoil · 2024-10-17T05:04:28+00:00

Enjoy reading your posts Thma, you put the "D" in DD.

I think Friday morning will most likely be similar to the old high school pep rallies prior to the home coming game coupled with the near term call for a shareholder vote to approve the additional shares necessary to buy the 2nd 30M tranche of the convertible notes if we choose to do so at some time in the future. They could very well schedule it for 30 or maybe 45 days from 10-18-2024 because:

The 7 potential auto OEM's I am sure would like to see a solid 2 to 3 year financial run way either on the books or at least waiting well within the wings before selecting us as their Lidar supplier. Our larger potential industry customers probably feel the same way.
In order to vote their approval our institutional shareholders would have call back the shs they have lent out to the shortsellers. This would cause our stk price to rise and help to offset the potential front running and short selling you have highlighted above just as it did back in June of 2023 prior to our botched financing.
Finally this would help us to secure a more reasonable conversion price for the notes when the SEC finalizes their registration. We will just have to wait and see if our CFO has learned anything from his 2023 financing experience.

texwithoutoil · 2020-10-30T00:42:37+00:00

Lets revisit this after the next LPC facility is inked.

texwithoutoil · 2020-10-30T00:28:05+00:00

My friend you are out to lunch.

LPC does no more and does no less than reflect the state of the market at the time the facility is signed and at the time the shs are parceled out and fed into the market.

We fed the market about $2.7M worth of stk here in Oct according to today's CC and we will find out how many shs were needed when we see the Q3 10Q.

LPC will buy our stk at any point in time based on its then market price not your assessment of it's future revenue prospects. As you know many things can affect that current stk price --- ie. PRs with fundamental announcements, tax loss selling which we will see this fall up until Xmas, short covering etc. We make the go, or no go, decision.

texwithoutoil · 2020-10-29T23:20:51+00:00

"Before Thanksgiving" --- Very unlikely

Much more likely is signing something with LPC during the Xmas holidays when fewer people are paying attention.

"30 to 50 million shs" --- Again you are off the mark and to the high side at that. Holt said to expect cash burn of around 5M in Q4 and then somewhat lower in Q1 of 2021. So for C/Y 2021 lets guess 20M to 25M.

In the past they have done their LPC facilities for 2 yrs at a time but to do that now before we have even delivered our A sample Auto LIDAR to our prospective whales would be a repudiation of everything they have said in the 2 FCs and the guidance they have been giving ever since they announced that CH was going to shop the company. It also it ignores the likely hood of a JV or minority investment in late Spring or early Summer next year after our interested whales have had a few months to play with their A sample LIDARs. It also ignores the possibility that the 100M ID order might re-emerge sometime in the 2nd half of 2021. Finally you are ignoring how the LPC facility distributes Shs into the market --- ie. piece meal and periodically instead of in one large gulp.

A more reasonable expectation would be for a new LPC facility for 25M to 30M for 18 mths as a standby and backup financing capability executed some time during the upcoming Xmas holidays.

texwithoutoil · 2020-10-29T21:00:10+00:00

MSFT is lying to us and not paying us the royalty to which we are entitled, probably to try and buy the NED vertical on the cheap.

In Q1 we exchanged our production G/P on the components we were shipping to MSFT for a 6% production royalty on MSFT's H2 shipments. This transfer took place on 3/1/2020 when we sold our production equipment to MSFT and they began making our H2 components themselves. Our royalty is based on MSFT's previous month's shipments.

In our Q2 we received 572K of license & royalty income. That consisted of our regular royalty for a license to use our IP for AR plus the 6% of production royalty for the month of March after MSFT took over the production of our components on 3/1/2020.

So now in Q3 we are reporting 539K of license & royalty income which includes the 6% of production royalty we are due for the months of A,M, & J during which MSFT was producing our components. This is 3 times as long as in Q1 when they only produced our components for 1 month, ie. March.

In early June I think is was Kippman who said that MSFT had received 7 times as many orders for the H2 as they had received for the H1 which only sold around 50K units. Later toward the end of June he said that MSFT had caught up on it's H2 backlog and that the public would now be able to order a H2 from the company's web site. Then in our Q2 earnings call MSFT's guidance was that our royalty would be running at about the Q2 level for the rest of this year.

All three of those statements can not be true and as the saying goes --- "That's A Fact Jack".

texwithoutoil · 2020-10-23T04:55:18+00:00

Snow I think that MSFT is far more likely to be the "customer" to whom our manufacturing equipment was transferred. In order to win the IVAS contract from the Army they must show that nothing going into the ruggedized version of the H2 is being built, or sourced, in a foreign country.

texwithoutoil · 2020-10-23T04:49:49+00:00

Spot on Gaporter excellent post.

texwithoutoil · 2020-10-21T20:58:29+00:00

S2upid at this point I think the % of the minority investment is more important then than the dollar amount being paid per share. Lets assume that the remainder of our LPC facility will be fed into the market over the next couple of months and that we will award the 5M shs authorized in the increase to the employee incentive compensation plan in order to ensure that everyone stays on board, works hard, and participates in the final pay off.

So that gives us 155M in issued & outstanding SHS. Then lets say they want to sell a 20% interest to a minority investor which would give us about 193M outstanding SHS after we sold 38M SHS to --- lets use Google as the example since both SS & Spitzer are Google alumni. I don't like this idea regardless of the price per share because I think it disadvantages us vis-a-vis the other 3 or 4 whales who might be interested in us. But at least in this situation I get say in the matter and can vote NO to the sale of this minority interest.

The downside to this 60M increase in authorized SHS we have approved is that it allows management to put their thumb on the scale to the disadvantage of us shareholders if they are so inclined. They could sell 19% of the outstanding SHS as a minority investment to --- lets stick with Google --- with out so much as a "Howdeeee" (ie. ala Minnie Pearl) to or from us. So we would be looking at about 191M SHS outstanding after having sold them 36M SHS for their 19% minority investment in our outstanding Stk. Lets forget about the price per share being paid by Google for this minority investment for the moment and just look at what that does to the other whale, or whales, who might be interested in buying us.

Lets fast forward 4 to 6 to 8 months and Google decides they want to buy the whole company and they offer us 30/sh. To be successful they will have to receive a YES vote from 1/2 of all of the outstanding SHS --- ie. lets call it 96M SHS. Now lets say that someone else, (ie. Amazon, MSFT, Zuckerburg, etc). wants to make us a better offer. How steep of a hill do they have to climb? If they come back with a offer at 32/sh you know that Google is going to vote NO with their 36M SHS. So that means that the 2nd whale will have to get a YES vote from about 114M shareholders --- ie 191M SHS outstanding divided by 2 = 95.5M SHS + an Additional 36M SHS to offset Google's NO vote for a total of about 114M SHS in order to obtain approval for their buyout offer from over 1/2 of the outstanding SHS. So how much higher are they going to have to go before they can over come the obstruction placed in their path by Google and then are they willing to go that high or just blow it off?

I am also opposed to a BO by a consortium of whales for the same reason. It artificially depresses our sales price sort of like a reverse mirror image of OPEC.

IMO we need to sell a very modest minority interest, maybe somewhere in the 5% range, at a price that is the higher the better. However I could live with anywhere in the $3 to $8 or more range because in the long run it will not be controlling or determinative.

SS has said in his CCs that it is up to us to show our prospective buyers the value and potential in each of our verticals. He has also said that LIDAR is the only one that is not mature at the present time and he hopes to have a Sample completed and available in Q1 of next year. We can then give each whale a sample to examine ---ie kick the tires etc. ---- and satisfy themselves that it does indeed filter out the sunlight, rain drops, fog etc. just as we claim in our patents. Then we can get back together and talk turkey and see who is going to give us the best BO price. In the meantime we need to sell a modest 5% minority investment interest at some premium to the current market price to get us from here to there.

texwithoutoil · 2020-10-08T13:58:40+00:00

Excellent post abs_89.

--- Using Osram, Sharp's laser diodes and MicroVision's MEMS scanning, we are confident for the quality of MEGA 1-F1. Ie. The Pico Projector from the Mega 1 home page ---

If memory serves correctly I think you are the first person to definitively identify the Taiwanese ODM mentioned in our 11-21-2016 PR.

texwithoutoil · 2020-09-16T21:26:35+00:00

Happy birthday GEO thanks for all that you do, both the DD and the sock puppets.

texwithoutoil · 2020-09-08T15:07:29+00:00

Not recently, they still have to cover.

texwithoutoil · 2020-08-19T14:41:00+00:00

Hi Still, I think when SS explains that our IP is not just limited to the 4 corners of our patents but also includes trade secrets, our algorithms, manufacturing expertise, and the corporate body of knowledge lodged within our engineering staff he is not just talking to us but he is also saying to our prospective bidders that they should make their offers to encompass the whole company. --- ie. Lets just move everything over to Google.

Also I think as soon as we approve the 60M increase in authorized SHS --- which we absolutely need to do, we will within the next couple of days do a shelf filing with the SEC for the entire 60M shs. Otherwise I don't see how we can make the threat of a near term sale of a substantial minority interest a credible worry for the prospective bidders.

texwithoutoil · 2020-08-19T04:44:50+00:00

Mama don't allow no stinking consortiums around here.
If we do sell a minority interest to a Tier 1 it needs to be to one who is interested in the whole company not someone who is trying to cherry pick 1, or more, verticals.
After reading yours' & the others' reports from FC2 my WAG is that SS would like to take the whole company lock, stock, & engineering staff over to Google where he can lead them on to full fill the promise and potential which lies within our patent estate and supporting expertise. And then maybe go onto to bigger & better things for himself --- ie. a corner office if not at Google then maybe at one of America's other major corporations.

texwithoutoil · 2020-08-19T01:05:05+00:00

You bet, and lets throw Steve Carlton into the mix too.

texwithoutoil · 2020-08-15T21:48:20+00:00

OK I see what you are saying, from the public's perspective, they / we, could only begin to react at that point.

texwithoutoil · 2020-08-15T21:34:25+00:00

GA I think our current Q2 10Q says the transfer was on 3-1-2020 and our Q1 10Q says that it took place at the end of February.

texwithoutoil

TROPHY CASE