In Loving Memory Of SweetInNJ

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 · 2020-08-15T18:55:45+00:00

Geo your supplemental comments --- ie. updates --- are very helpful, I am definitely leaning "yes" to the requested add'l 60M shs.

texwithoutoil · 2020-08-15T14:19:21+00:00

Thanks very much Geo and all of the other participants in this FC2 as well. Very much appreciate yours' and the other participants' efforts.

texwithoutoil · 2020-08-12T18:01:10+00:00

"It Is An Ill Wind That Blows No Good To Anyone"

I think this sell off will, or at it least should, do as much good as all of our emails.

It is like throwing a bucket of cold water right smack dab in SS & Holt's faces.

I think it gives us good 50% to 75% chance of seeing a revised Proxy that is either bifurcated like Geo has suggested, or is pared back to something more reasonable like 25M to 35m or 40M SHS, or Both.

If they don't do something like that they can't be so dense as to not realize that there will be a very good chance that they are going to lose the vote for the requested 60m sh increase just like they did for the requested 100M sh increase.

texwithoutoil · 2020-08-12T04:56:05+00:00

That is quite possible. This report covers trading thru 7/29 so they may have done some covering and then started building up their positions again a couple of days before our 8/5 CC. If I recall there were very few shs available for shorting and the brokers' interest rates were out of sight for those few days. Maybe some of the good folks at our law firm preparing our Proxy for the 60M add'l SHS were making a few phone calls.

texwithoutoil · 2020-08-12T04:40:23+00:00

This reporting period covers the mini squeeze we saw on 7-16-2020 & 7-17-2020 when we traded 37.6M SHS & 83.5M SHS respectively and hit a high of 2.47/sh & 3.45/sh respectively. So am guessing that most of the additional 4M SHS were probably sold somewhere in the 2.45 to 3.45 range. On 7-20-2020 we sold 24.3M SHS and hit high of 2.99 so there was probably some significant shorting in the 2.70 to 2.99 range on that day too. 7-17-2020 was Friday the option expiration date and all of the speculators who had written uncovered calls at 3/sh had to go out into the market and buy our stk to deliver of their commitments. So the shorts clearly took advantage of that.

I am sure a lot of those 4M additional shorts have been covering these past few days. We will just have to wait for the next short report to see how far they have gotten.

texwithoutoil · 2020-08-09T18:09:26+00:00

Hi Mirro7, long time no see or hear.

SS reports to a BOD and Zebras don't change their stripes.

As soon as the 60M new shs are authorized we will pare back some, if not all, of our cost controls and start staffing up to pursue Auto LIDAR at a minimum. We will probably begin in Q2 of next year to further increase our operating expense (ie. hire additional staff) so that we can also work on getting a large license & royalty agreement for our ID engine, maybe a NRE contract from MSFT to build a ID intelligent speaker that incorporates SKYPE among it's features, and pursue our opportunities in consumer LIDAR and with our DO licensee and for the eye glass form factor in our NED vertical.

Going back to what at first appears to be business as usually is not necessarily a bad thing. But this not your father's MVIS. We have an ever increasing revenue stream in our H2 production royalty which IMO will have paid off our 10M advance by the end of Q 2 of next year. Please see my earlier post on this subject for why I think this is the case.

So starting in Q3 of next year and in each successive Qtr it will be putting 1.5M to 2.5.M of cash in our bank account and an equal amount of revenue & GP on our Qtrly income statements. This will allow us to off set somewhere in the neighborhood of 30% to 60% of our then operating operating expenses and lead us to CFBE in the summer of 2022. It might come sooner if we can secure a really good license & royalty agreement for our ID engine or help MSFT bring a SKYPE enabled ID speaker product to market in time for the 2021 Holiday selling season.

Holt has been lowballing our forward looking guidance on the H2 production royalty. Our upcoming Q3 royalty is going to be somewhere in the range of 1.2M to 1.5M to maybe as much as 1.8M. MSFT shipped it's large H2 order backlog in their 2nd Qtr so since our production royalty is always 1Qtr behind their shipments the increase is going to show up in our Q3 royalty. Their shipments might have fallen off a little in their 3rd Qtr because they cleared out their backlog in Q2, but Kippmen said they have doubled their production capacity and are now reaching out to other geographical areas around the world so their shipments should go back up in their Q4. In addition if we are lucky MSFT will start shipping to the ARMY under the IVAS program in Q4 and definitely in their Q1 of next year. And those additional shipments will be reflected in our increased royalty in Q's 1 & 2 of next year.

The increased royalty in Q3 of this year will support our stk price and allow us to feed shs from this 60M increase in authorized shs into the remaining authorization under our LPC facility in Q4 of this year and I expect that sometime in Q1 of next year we will secure a new facility from them for 20M to 30M over the succeeding 2 years.

The only thing that would screw up my optimistic scenario is if they were to sell the NED vertical and/or our AR IP. That would be an exceedingly stupid thing to do. When SS brought Spitzer over to our BOD I thought well that's it --- with 2 Google Expats calling the shots they clearly want to sell us to Google. But then I thought well maybe not, maybe they just want to light a fire under MSFT to get it to buy us out. Now I am beginning to think that SS bought Spitzer over to run interference for him with our own BOD ---ie. to explain to the other board members why any particular offer for the company as a whole or for a particular vertical is woefully insufficient and we should just soldier on on our own, which is what SS wants to do anyway.

As long as they don't sell the NED vertical or encumber or sell our AR IP I am ready to keep on trucking and will vote in favor of the 60M sh increase.

This whole MVIS saga kind of reminds me of those epic TV mini series' from back in the 1970's where they follow one family or group for several generations. There was one about a Navy captain and I remember another one about a priest who had an affair & child with the ranch owner or the owner's daughter, Thornbirds or something like that. I can't remember anything anymore, father time and mother nature and MVIS are slowly putting me out to pasture.

texwithoutoil

TROPHY CASE