As of March 31st, 2012, MVIS had total assets of $8,740,000 and total liabilities of $6,968,000. Subtracting the liabilities from the assets, we get $1,772,000. That was from March 31, 2012, 38 days ago. With a cash burn of about $38,888/day (what they appear to be at currently), that places the total assets less liabilities number at $294,256 which comes out to about 7.5 days worth before the assets are less than the liabilities. SHAME SHAME, why did they wait this long to dilute? Is there a problem getting financing? I really thought they would have done something by now.
So, what are you all getting your wives for mother's day? News of Dilution or news of BK?
Something must give and give soon, otherwise the cash will be all gone. As it is currently, they have less cash than obligations and that is never a good thing. It is much like giving a child a credit card and letting him or her go crazy in the mall, it never turns out well.