Does Reddit understand MVIS language???
From Reddit...>>>”Cash burned in Q2 was $2.9M and cash on hand was $7.8M. If the burn rate stays consistent over the next few quarters and no new cash is received, cash would expire in 7.8/2.9 = 2.7 quarters, which is early March, 2021. Since you have said you have enough cash to continue operations through the end of the year, do you anticipate the current cash burn rate will increase?”
IR:...The Company will provide an update on its Q3 earnings call”
In MVIS language that means AFTER WE GET THE VOTE YES ON 60 MILLION SHARE DILUTION we’ll know more about raising money then.
“You mentioned that you expect to receive $1.1M in royalty payments from the April 2017 customer for the rest of the year. You received $572K in Q2 royalties from this customer. The $1.1M estimate for Q3 and Q4 would be a very slight decrease in the $572K Q2 run rate. You have stated that it is a reporting requirement to estimate the royalty payments against the $10M pre-pay liability. Is it an accurate assumption that the $1.1M estimate comes directly from your customer or does that come from your own internal estimates? Do you possess any estimates for this royalty revenue for 2021?”
IR...The April 2017 customer has not provided that information to the Company”
Like I said any numbers are purely wild guesses...60 million share dilution vote BEFORE Q3 earnings call....TIMING !!!
During the analyst Q&A session of the earnings call, in regards to a question about Consumer and Automotive LIDAR, Sumit used the phrase “channel sales” on multiple occasions. It was referenced that it was different from OEM sales. Is this selling to the likes of the parts makers (Bosch, Delphi, Continental, Magna, etc.) vs. the automobile makers (Ford, GM, VW, BMW, etc.)? Can you explain with greater clarity what “channel sales” is referring to?
IR...”Your understanding of channel sales is correct, a supplier to the automotive industry”.
Nothing new!!! MVIS’s been trying to sell through “channel sales for DECADES...without any luck yet !!!