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Microvision Inc. Message Board

  • matthewsrobert Feb 6, 2013 11:20 PM Flag

    The Cash Flow Follies

    Those posting about our cash flow (ie. both positive and negative) and our impending bankruptcy need to include some semblance of the truth somewhere in their posts or try to fight the urge to clik their mouse.

    Per our 10Qs for Qtrs 1,2, &3 we had "Cash Used In Operations" of 6,191, 6,821, and 3,939 for a total of 16,951 thru 9-30-2012. JW said we would reduce the cash burn by 50% in the 2nd half of 2012. We are not there yet so to meet his guidance we will need a good 4th Qtr.

    Per our 10Q for Q3 we cleared 1.475M on gross revenue of 2.613M and 78% of that came from Pioneer. Also at 9-30-2012 81% of our 979K of A/R was due from Pioneer (ie. 793K). I think Pioneer is good for it but that just shows that all of our 1.475M in Q3 gross profit had not yet reached our checking acct. The 10Q also says we delivered roughly about 1.5M of our total 5.8M Pioneer order in Q3 and in the 11-4-2012 CC AT said we had delivered about 1/3 of the Pioneer order at that point. Finally the auto business manager who jumped ship for microsoft said in his resume that he delivered 2M in prototypes in 2012. In our Q3 10Q we said we had only booked 1.261M in contract/prototype revenue thru 9-30-2012 so if he is not lying it's one more indication that the Q4 results will be good.

    Clearly just to reach breakeven (.ie. much less positive cash flow) we will need at least 4 or 5 contracts
    like the 5.8M from Pioneer with similar terms and GP percentages. And those positing bankruptcy need to pay attention to our affairs. Our danger is not in going bankrupt it is in being taken over, and/or, taken private by Fahri and his Canadian friends. Our policy of standing idly by and letting our stk price deterioate without periodically updating the shareholders or releasing PRs about new orders, however small, makes me worry that AT, Fahri and friends, etc. have a hidden agenda that does not favor the public shareholders. We will have to see what MVIS says over the next 4 or 5 weeks.

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    • A hidden agenda would require the availability of green lasers and turning away orders if there were any. TheTolkster could just be making his promises to Farhi because he is tired of leading whole flocks to their deaths and wants to focus on a Persian.

      • 1 Reply to mvisdoubledowner
      • Nothing is hidden at all in my opinion. Tokman and his gang are preparing to take it private or sell it. Tokman said a long, long time ago that when the lasers came on line would be the time offers would come in and his lack of support for the pps indicates to me that they are getting ready for a big pay day for the top management, BOD and Tokman. There is news out there right now that he could issue PR without violating NDA agreements and he has refused. It is just to keep the pps low for the options for the BOD and himself.

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