JDN,
Sorry, I should of done that initially. Here is Mark's annual report summary link:
messages.yahoo.com@m2.yahoo.com
Went down to Seattle to the shareholders meeting today.
Unfortunatly not all of my questions were answered either. I saw a
demo of a first generation VRD, very impressive. The latest product
developments were also on display, a demonstration of the MEMS
scanner was very impressive, this will be the basic building block
eventually of all Microvision products. Although The projection
application was not fully functional the amount of brightness was
incredible.
I am worried that the company is concentrating too much on pure
R&D and not enough on actual product. I mean this as constructive
criticism, because It appears that all resources have been
concentrated on technical personnel and lab expenses and not on
promotion of the company to the Institutional investors.
Rick did mention that this was a shortfall that should of been
addressed when the stock had upward momentum last year. He also
mentioned that this will soon be corrected as they going to make an
offer to someone who will act in the investor relation position. Rick
also mentioned that they have a number of options relating to
additional financing and convertible bonds was not one of them, The
amount of additional cash required is up for debate to the rest of us
not privy to the real needs of the company. In all honesty the board
and technical staff did not look like they were running scared, in fact
the confidence that they exuded leads me to believe that something is
going on behind the scenes. There are firm plans to move the
company to Bothell after the first of the year and add additional staff,
these are not the plans of a company about to go bankrupt. I expect
that there will be an announcement in the near future with regard to
the "Commanche project" note the Italics, Commanche is really a
generic term that applies across the board to a whole host of Army
applications ranging from all helicopters (Commanche,Apache,Cobra
and all the big Sikorski's) plus command and control applications in
addition to the Abrahms Tank and the Bradley fighting vehicle. The
Airforce Integrated Aircrew HMD was very impressive, again this
program is intended to be used across the fleet in numerous aircraft.
In short the potential is enormous in just these applications, the
company has identified 4 product platforms that they intend to
pursue, the fourth platform was not mentioned by name but
speculation abounds about the actual application, I have a good Idea
what it is, based on the new key people that now work for
Microvision. but speculation at this point might tip off potential
competitors and thats not good for my stock !
In regard to the lousy stock performance I think were seeing a short
sell run to drop the value below 5.00/share. The obvious reason
being that the stock will become unmarginable and selling pressure
will force it down some more, I am resigned to this fact, although it is
very foreign to my positive nature. The short sellers claim that they
perform a market function and in reality bring the price down to
realistic evaluations. They are probably right,I will use this price point
to expand my holdings and average my share price down.
Speculation drove this stock up and speculation ran it down. The
only thing that will run this stock up is earnings or real expectations of
earnings. The potential is huge, I agree with previous comments that
the potential of earnings could run the stock up, but Microvision has
got to do a better job of getting its story out, hopefully the new
Investor relations manager will heed this call. I'm sure that some of
the other guys will post their impressions, there were a few of us
threaders there, nice to place a face to the name and good to see all
of you guys.
later
Mark |
