my mid year review of MVIS
INTRO Here's my semi-annual exercise to see if I remember why I own the stocks I own, and so I can check back and see if their stories have changed. I post in case it helps others too.
MVIS (market cap $0.128B)
Ah, Microvision, the company and the stock that are epic. Microvision designs and produces image capture and display components and products based on a small mirror on a chip that is able to move quickly, with very little power, to manipulate light at higher resolutions than the competitors. Their first notable consumer product is a pico-projector, the ShowWX, that is the size of an iPhone. The image dims with distance, as with any projector, but because it is based on lasers the image does not need focussing and can be displayed on uneven surfaces like curtains. It is an introductory and proof of concept product designed, built and sold to demonstrate the company and technology's capabilities. Within the next two years their main product, the interior component comprised of the light sources and mirror, should be available in the large quantities necessary to support massive consumer electronics needs like projectors in cell phones, innovative game controllers, and auxiliary equipment for existing devices like tablets.
The company has great potential because it can be applied to many of devices that include displays (vehicle HUDs, cell phones, computers, etc.) and incorporated into new devices like eyewear with superimposed imagery.
The company has had great problems because the technology to produce the green lasers took longer to develop, was more expensive initially, and supporting industry players have not always followed through on (non-binding) agreements. Early management probably damaged company credibility, which the company is recovering from, though product delays due to supply issues don't help. The competition has had a chance to catch up, but very few, if any, can meet the same cost, quality, size, and power specifications. Supposedly, (see even I use lots of waffle words with this company) the green laser supply issues will be resolved by this time next year, or maybe by the end of 2011. Product delays and a declining stock price have driven the company to significant dilution, but their current cash should carry them through to product launches within the next twelve months.
For years, Microvision appears just about ready to turn a profit and become a household word. It is looking more likely, yet I've been wrong before.
DISCLOSURE LTBH since 1999. The first shares are gone and I have more than enough if the company finally succeeds and the stock reaches the heights I think are possible. I continue to hold and would only buy more if there was quantifiable, positive, revenue producing news; and I suspect I am not alone. Every time a rumor mentions Apple and Microvision MVIS pops. Maybe some day that or similar news will cause the stock to pop, continue to rise, and go stratospheric. Who knows? Stay tuned.
(I've also collected links to the other discussion boards and my other stocks over on my blog trimbathcreative.wordpress.com)