This looks like a very interesting product. We're a good fit for it. They will be doing both DLP and Laser based products.
From their Facebook Page:
We have both versions. [laser and DLP] We have limited quantity of Laser Display Allocated for the Indiegogo Campaign, as they tend to be more costly. We also have the DLP version which is for our main rewards. For production after the crowd funding campaign we will definitely have the ability to supply large quantities of the Laser version being that the numbers need to be quite high to be able to keep costs down. Both versions are fantastic and you would be amazed at what the DLP version can do. Having said that be sure to stay tuned for the start of the Campaign to assure yourself a Laser Version if you desire one.
IRIS HUD from Counting Ants Productions on Vimeo.
At Digital Trends
The Iris HUD is reportedly ready for production, but the development team needs some financial support to kickstart the manufacturing process. To move things along, the group will launch an Indiegogo campaign on Monday, June 8.
If enough cash is raised, shipping is expected to begin in the fall of this year. The device will retail for $499, but early pledges can net you the product for $299.
Friday, June 5, 2015
Micromax: A Company to Watch Closely
This company produces new phones quickly. They take chances. They're innovative.
Of course, at a rate this fast, producing a PicoP product, separate from their phones seems to validate the "stand alone first" strategy of MicroVision management.
There's a lot more at the original article.
At Wall Street Journal
Early last year, product planners at India’s best-selling phone maker decided consumers wanted a handset that could be operated in many of the country’s 20-plus official languages.
Four months later, Micromax Informatics Ltd. unveiled the $110 Unite, which let users label their apps, type, send messages and interact on social media in 21 different scripts—from Marathi and Gujarati to Tamil—rather than just English and Hindi, as is common for Indian phones.
“We turn around faster than any other company,” said Micromax Chief Executive Vineet Taneja,as he reviewed mock-up models of more than 10 phones in the company’s buzzing Delhi headquarters.
Micromax sits at the bleeding edge of the global smartphone wars.
While Apple Inc. launches only two new iPhone models a year and Xiaomi around four, Micromax shipped more than 30 new smartphones last year ranging in price from $50 to more than $300—as well as a host of no-frills feature phones.
Micromax cuts language barrier
The most unique feature of Unite 3 would be, a user can easily translate or transliterate (change the script of the text) on the phone.
The awaited technology would be as simple as just swiping the screen on the phone which would perform the former operation within a few seconds.
Of course, at a rate this fast, producing a PicoP product, separate from their phones seems to validate the "stand alone first" strategy of MicroVision management.
There's a lot more at the original article.
At Wall Street Journal
Early last year, product planners at India’s best-selling phone maker decided consumers wanted a handset that could be operated in many of the country’s 20-plus official languages.
Four months later, Micromax Informatics Ltd. unveiled the $110 Unite, which let users label their apps, type, send messages and interact on social media in 21 different scripts—from Marathi and Gujarati to Tamil—rather than just English and Hindi, as is common for Indian phones.
“We turn around faster than any other company,” said Micromax Chief Executive Vineet Taneja,as he reviewed mock-up models of more than 10 phones in the company’s buzzing Delhi headquarters.
Micromax sits at the bleeding edge of the global smartphone wars.
Micromax cuts language barrier
The most unique feature of Unite 3 would be, a user can easily translate or transliterate (change the script of the text) on the phone.
The awaited technology would be as simple as just swiping the screen on the phone which would perform the former operation within a few seconds.
Thursday, June 4, 2015
Ericsson Mobility Report
- Enormous number of smart phones and smart devices being used, with many more on the way.
- Video counts for more and more of the traffic
- Big screens matter a lot (We have the biggest.)
- Special events drive a lot of traffic
MicroVision's technology is in the right place at the right time. The demand for what MVIS offers is staggering, and people don't know they can get it yet. As investors, we're absolutely at the right place at the right time.
There are more and more devices being dreamed up on a daily basis that can incorporate PicoP.
Mobile consumers consume mostly video -- which is where MicroVision's technology really shines.
Big screens allow people to SHARE the video experience -- so the fact that special events drive a lot of traffic --- that's fantastic --- people like to watch the big game together, even more than they like to share the Big Bang Theory. You can't share it on a phone, only with difficulty with a pad, but with PicoP -- it's easy.
"Today there are 2.6 billion smartphone subscriptions globally, and while growth has been levelling off in developed markets like the U.S. and Europe, it’s not stalling altogether by a long shot. By 2020, globally there will be 6.1 smartphone users led by huge growth in less mature markets. And with 6.1 billion smartphones in circulation, we will see a tipping point of sorts: smartphones will finally overtake the number of active fixed line subscriptions worldwide in 2020."
"The numbers come from the latest annual Mobility Report from Ericsson, which is being published today. Using data gathered from around 100 carriers globally, Ericsson uses this to paint a picture of what is going on right now, as well as what to expect in the future, covering not just how many people are using mobile networks but also how they are using mobile."
"Those 6.1 billion smartphone users works out to some 70 percent of the world’s population using smartphones in five years’ time, a measure of just how central these devices are becoming to how we communicate with each other and do much more."
"In fact, “total mobile” subscriptions by 2020 will actually number 9.2 billion. When you take into account Internet-of-things and M2M services, mobile broadband and even some basic remaining feature phones, there will be 26 billion connected devices in five years’ time. (As some point out, however, this is actually a downward revision from Ericsson’s previous forecast of 50 billion connected devices.)"
"Video already accounts for 45 percent of app traffic, will rise to 60 percent. The story here is about OTT providers like YouTube and Netflix, which are the two most popular and therefore the biggest gobblers of bandwidth. This is a fact that is not going away: video consumption on mobile is currently growing at a rate of 55 percent annually, Ericsson says. It further notes that YouTube alone accounts for between 40-60 percent of all video traffic today. Interestingly, music streaming is in a firm second place, and although it is “gaining popularity” its unlikely to overtake video at any point. Part of the reason for this is because a lot of music consumption is offline. Social network only accounts for 15%."
Marquee events are driving huge amounts of usage. Ericsson notes that the 2014 football world championship was “one of the biggest social media events of 2014,” and that boom also played out on mobile with people using their smartphones to text, talk and post on social networks. In all the World Cup generated 26.7 TeraBytes (TB) of traffic, “the data equivalent of 48.5 million digital photos plus 4.5 million voice calls.”
Size matters. It’s long been known that the size of the screen impacts what and how much a person consumers. Specifically, video continues to be a magnet service for tablet users — no surprise, given the larger screen and overall better experience. What’s interesting is that this does not trickle down to other kinds of functions that are more interactive.
Wednesday, June 3, 2015
MVIS Takeover Target?
Apple recently purchased a large holder of augmented reality patents. MicroVision is THE leader in augmented reality patents. Augmented Reality Patents...who leads
I don't mind the idea of a rejected buyout offer, but I don't like the idea of being bought out... at least not yet.
(update) I was hesitant to post this connection because of some of the absurd reactions I've seen in various places to this. It doesn't mean Apple is buying the company -- it does mean there might be some interest and it should be watched, however.
"Apple has bought a company that makes augmented-reality software, which adds information or images to real-world scenes when viewed through a special headset or even a smartphone camera.
It’s the latest sign that major tech companies see big potential for products that let users view the world with extra features added by technology. Apple, Google, Facebook and Microsoft are all working on augmented- or virtual-reality products. Augmented reality can add hand-drawn sketches, navigational directions, historic video or computer-generated, three-dimensional images to a real-world scene. Virtual reality can make viewers feel as if they are immersed in an artificial world."
"Metaio’s site said it wasn’t taking any new customer orders and then this document appeared, confirming all Metaio’s shares have transferred to Apple ownership. The document, which was reported by TechCrunch, shows that the share transfer took place on either May 21st or 22nd."
Some insight on Apple
A link to this post
GuruFocus
(update) I was hesitant to post this connection because of some of the absurd reactions I've seen in various places to this. It doesn't mean Apple is buying the company -- it does mean there might be some interest and it should be watched, however.
It’s the latest sign that major tech companies see big potential for products that let users view the world with extra features added by technology. Apple, Google, Facebook and Microsoft are all working on augmented- or virtual-reality products. Augmented reality can add hand-drawn sketches, navigational directions, historic video or computer-generated, three-dimensional images to a real-world scene. Virtual reality can make viewers feel as if they are immersed in an artificial world."
Some insight on Apple
A link to this post
GuruFocus
Tuesday, June 2, 2015
I am at the ASM (updated 6/8/2015)
(UPDATE - 6/9/2015)
There were many postings of notes that were more thorough than mine. They are now included at the bottom of this post with the CEO presentation materials.
Management had lots of smiles, and a lot of enthusiasm. Just recently done with the after meeting meeting, and will process what I've learned and post it.
The most notable thing about the entire meeting was the universally up-beat attitude of the board of directors. I've been to meetings for a number of years and I've seen them when they've been down -- when "getting this going is a significant challenge." Last year, "everything is aligned," and this year the over all message was that things are going great -- but don't get TOO optimistic, there may be a couple of bumps in the road. We'll have some problems, but they're GOOD problems to have.
The following is courtesy of Tom Trimbath at InvestorVillage. (Best notes I've seen, represents largely what I remember... I'm keeping myself busy, no need to do something over that's already been done well.)
ASM CEO Presentation (downloads)
Trimbath Blog posting on ASM
The following is from a post on InvestorVillage (please check it out at the source if it's available. It's in it's entirety below, however, and will stay there unless I get a complaint.)
Thanks to Tom Trimbath
My 2015 MVIS ASM meeting notes - very long as usual
MicroVision Annual Shareholder Meeting June 2, 2015 notes
CAVEAT
I am human. Mistakes will be made. The SEC and Investor Relations are the bastions of truth. So, feel free to correct me, ask them, or better yet, do all of that and then ask the other attendees what they think. Multiple points of view, a diversity of opinion. Good stuff. (Yada. Yada. I've done this often enough that the CAVEAT has become mostly a copy & paste, partly because I am lazy, mostly because I hope it's good enough.)
INTRODUCTION
I anticipated this edition of the annual shareholders’ meeting in an odd middle ground; the company is doing better, the stock is up 60% since last year, and the situation is far from where I expected the company and the stock to be. I had a long list of questions, and little expectation that they would be answered because of NDAs and competitive pressures. And yet, attending always reveals more than appears in the annual report because of nuance, editing for time - and it is the one time a year when many of us get to commiserate and consider.
PRE-MEETING
The meeting was held at the same place and in the same rooms as last year’s meeting. There were about the same number of people (~55), but it felt more alive because there was more energy in the room. There were fewer demos, but they were real, and effectively a sales opportunity for MicroVision’s most recent public customer, Celluon. Celluon had three PicoAir/PicoPro displays, and a virtual mouse. If there were any MicroVision prototypes, I didn’t see or hear about them. No Sony, Lenovo, or any other logos. I pointed out to one of the Celluon employees that MicroVision has similar technology to Celluon’s virtual mouse, which was news to her. I asked another of the Celluon employees about the statement at the end of PicoPros’ interview of a Celluon representative who suggested there’d be more Celluon/MicroVision products by the end of the year, which was news to him. I compared my ShowWX to the PicoPro image, and the PicoPro image definitely had whiter whites, an important thing for me because of my art photos.
The best part of the meeting, before, during, and after is the people. The CEO was nice enough to talk with various groups of shareholders. There was nothing substantive, because he can’t reveal anything unless it is public, but it was interesting to hear about his 60% travel, and it was encouraging to witness his enthusiasm.
OFFICIAL MEETING
Everything passed. Surprised?
BUSINESS PRESENTATION
Before the CEO's presentation, the COB made a statement.
It has been a good year, and he appreciates everyone’s patience.
The CEO’s presentation was purposely abbreviated to allow more time for questions and answers afterwards. (And also limits the effort required for the presentation and the opportunity for revealing too much. - TET)
He was glad to see a lot more smiling faces this year. 2014 had a lot more concerned faces, which they wanted to alleviate, but couldn’t because of disclosure rules. They’re feeling good, have momentum, the technical and market ecosystem is maturing, and laser supplies are no longer an issue.
The CEO asked one of the shareholders to share a story of how he used a PicoAir (or was it a PicoPro?). He was on a group outing with lots of kids. After dinner, instead of gathering around the campfire, the kids started looking at their screens. He got a sheet from a tent, set up his cell phone and projector, and pulled in all the kids for an impromptu showing of Kung Foo Panda. So, at least the kids were watching the same screen, having a shared experience, and not squinting.
Of course the two big news items were Celluon and Sony.
Celluon released the PicoPro and the PicoAir, and received positive reviews. Image size, quality, color, form factor, and focus-free are a strong suite of competitive advantages.
Sony is the company that can be mentioned but not typed, at least by MicroVision management. Evidently, their agreement is that, in print, MicroVision’s customer is a Fortune 100 company; but in conversation they can say Sony.
Sony looks to regain their technical and public prominence, and picoprojection is one of the enabling technologies for their corporate strategy. In addition to the revenue news we’ve heard before, they also mentioned a $18.3M backlog, the specifics of which were news to me.
In addition there were an additional 4-6 OEMs exhibiting works in progress at CES. News to follow, possibly.
The Fortune 500 innovative smartphone continues, but about the only additional information was that they are working on their own version of an engine.
The 2 HUDs and UPS are in consideration by the customers and are out of MicroVision’s control.
In addition to the backlog, MIcroVision has $16.7M in cash. The company has never been in such a strong financial position.
The goal is for significant growth for the company, the products, the supply chain, and the pipeline. The CEO feels the company is at an inflection point. (This was mentioned several times by the CEO and others.)
While we may know MicroVision and PicoP very well, the market doesn’t. One survey suggested 97% are unfamiliar with either. This is also an opportunity for growth.
The CEO highly recommended Mary Meeker’s recent market analysis.
Market growth by sectors:
personal projection ~ 32.4% CAGR
HUD ~ 27% CAGR
Image Sensing ~ 23% CAGR
Eyewear ~ 194%
They feel their intellectual property is strong and will be protected.
There are soon to be more committed partners.
They feel that they are out of the storm, that next year there will be greater smiles, and that they appreciate our patience and support.
That concluded the business presentation.
QUESTIONS & ANSWERS (heavily paraphrased because I spent more time listening than writing)
Before answering any questions, the COB made the point that they won’t say who is the Fortune 500 phone company.
? The laser-based projection products in the news are impossible for shareholders to distinguish between MicroVision technology and not, but they know and can’t say. The COB made some comment about “don’t be afraid of big companies buying small companies”. (Which made me wonder about mergers and acquisitions, with no expectation of getting a straight answer so I didn’t ask.)
? Are there patent protections against using MEMS in arrays or with x-rays? A long lawyer’s answer of no comment was followed by the COB? pointing out the shifted emphasis from component-centered business to systems-based business.
? They continue trying to recover the $1,7M from the previous CEO.
? There are features outside the engine that are also affected by MicroVision which can also lead to additional royalties.
? The company is focusing on high profit margin revenue streams, unless they are too small.
? The MVIS logo or Image by PicoP is only visible on products or splash screens after negotiations with the customer. Some ask too much.
? The current displays have 30-35 lumens, but work continues in “The Frankenstein Lab” (first mention) for much higher brightness.
? Lenovo? See above. Basically, no comment; but lots of words to play with.
? Component margins are aimed at greater than 40% with improvements every quarter, but services, royalties, and licensing have much higher margins.
? If companies like Google, Motorola, of Lenovo hold MVIS shares, they are doing so very quietly.
? MicroVision scanners, beyond Flic technology, allow interactivity and air touch - and they can’t discuss more.
? UPS and HUD are in customer evaluation.
? The company goal is to maintain a cash burn of $1M/month, which suggests no large hiring until there are significant revenues or margins.
? Knockoffs happen, especially in China.
? Management is visiting fundamental investors about once per month.
CLOSING STATEMENTS
The COB emphasized the very nice inflection point, that they intend to be good stewards of our investments, they will hire as appropriate, currently things feel very good though there are no guarantees, and that they are facing a tremendous opportunity.
The CEO echoed that and passed around the pride he had in the employees that were in the room.
MY SUMMARY & CONCLUSIONS (opinion, not fact)
I will tell you my summary and conclusions in a rambling, stream of consciousness style, because I am assimilating the information as I type; but, a good friend and shareholder framed it concisely; “Kinda like last year, but with more smiles.”
The potential upside remains incredibly high. The potential downside has dramatically improved. Last year I placed a higher probability on the company going bankrupt before the good news arrived. With a combined cash and backlog of about $35M, the downside risk has shrunk. My investing style is based on ‘Present Value of Future Revenue Discounted for Risk’. The future revenue projections haven’t changed. The risk has diminished. The present value is therefore higher - and is still far below what I estimate.
My hesitancy is based on the lack of quantitative information. There is an improvement over previous years (re: backlog+cash), but in the last twelve months there was only a pair of products, Sony refuses to be described in print, and the other customers are even more private. We have a lot more to talk about and speculate on, but very few quantifiable facts. Math is important to many investors, and they pay little or no attention to stories. That diminishes demand for the stock.
My enthusiasm is as great as ever, and occasionally I even find myself being slower to chastise myself for believing the company, the stock, and we shareholders may significantly benefit. But, I don’t share that around too much because most of my friends have already heard about it too much, not because I talk about it much, but because I’ve talked about it for so long. I think they equate MVIS with WOLF.
Other hesitancies are from little things: a lack of a financial report at the ASM, big competitors who could infringe on patents and delay rulings based on legal staff size, the possibility of a takeover or buyout (see GNET and PIXR), the randomness of the universe.
And then my enthusiasm kicks back in because I think MicroVision’s technology can disrupt teh technological world ala: PCs over mainframes, laptops over desktops, smartphones over laptops - with each disruption being larger and more abrupt. It would be too easy to be too late to participate.
DISCLOSURE: On balance, and within my meager means, I bought more after the meeting and just before I started typing this.
LTBH since 2000, hesitant to mention the company to friends, but too drawn to the potential and the drama to keep from telling the story - just like last year, and the previous years going back over a decade.
There were many postings of notes that were more thorough than mine. They are now included at the bottom of this post with the CEO presentation materials.
Management had lots of smiles, and a lot of enthusiasm. Just recently done with the after meeting meeting, and will process what I've learned and post it.
The most notable thing about the entire meeting was the universally up-beat attitude of the board of directors. I've been to meetings for a number of years and I've seen them when they've been down -- when "getting this going is a significant challenge." Last year, "everything is aligned," and this year the over all message was that things are going great -- but don't get TOO optimistic, there may be a couple of bumps in the road. We'll have some problems, but they're GOOD problems to have.
The following is courtesy of Tom Trimbath at InvestorVillage. (Best notes I've seen, represents largely what I remember... I'm keeping myself busy, no need to do something over that's already been done well.)
ASM CEO Presentation (downloads)
Trimbath Blog posting on ASM
The following is from a post on InvestorVillage (please check it out at the source if it's available. It's in it's entirety below, however, and will stay there unless I get a complaint.)
Thanks to Tom Trimbath
My 2015 MVIS ASM meeting notes - very long as usual
MicroVision Annual Shareholder Meeting June 2, 2015 notes
CAVEAT
I am human. Mistakes will be made. The SEC and Investor Relations are the bastions of truth. So, feel free to correct me, ask them, or better yet, do all of that and then ask the other attendees what they think. Multiple points of view, a diversity of opinion. Good stuff. (Yada. Yada. I've done this often enough that the CAVEAT has become mostly a copy & paste, partly because I am lazy, mostly because I hope it's good enough.)
INTRODUCTION
I anticipated this edition of the annual shareholders’ meeting in an odd middle ground; the company is doing better, the stock is up 60% since last year, and the situation is far from where I expected the company and the stock to be. I had a long list of questions, and little expectation that they would be answered because of NDAs and competitive pressures. And yet, attending always reveals more than appears in the annual report because of nuance, editing for time - and it is the one time a year when many of us get to commiserate and consider.
PRE-MEETING
The meeting was held at the same place and in the same rooms as last year’s meeting. There were about the same number of people (~55), but it felt more alive because there was more energy in the room. There were fewer demos, but they were real, and effectively a sales opportunity for MicroVision’s most recent public customer, Celluon. Celluon had three PicoAir/PicoPro displays, and a virtual mouse. If there were any MicroVision prototypes, I didn’t see or hear about them. No Sony, Lenovo, or any other logos. I pointed out to one of the Celluon employees that MicroVision has similar technology to Celluon’s virtual mouse, which was news to her. I asked another of the Celluon employees about the statement at the end of PicoPros’ interview of a Celluon representative who suggested there’d be more Celluon/MicroVision products by the end of the year, which was news to him. I compared my ShowWX to the PicoPro image, and the PicoPro image definitely had whiter whites, an important thing for me because of my art photos.
The best part of the meeting, before, during, and after is the people. The CEO was nice enough to talk with various groups of shareholders. There was nothing substantive, because he can’t reveal anything unless it is public, but it was interesting to hear about his 60% travel, and it was encouraging to witness his enthusiasm.
OFFICIAL MEETING
Everything passed. Surprised?
BUSINESS PRESENTATION
Before the CEO's presentation, the COB made a statement.
It has been a good year, and he appreciates everyone’s patience.
The CEO’s presentation was purposely abbreviated to allow more time for questions and answers afterwards. (And also limits the effort required for the presentation and the opportunity for revealing too much. - TET)
He was glad to see a lot more smiling faces this year. 2014 had a lot more concerned faces, which they wanted to alleviate, but couldn’t because of disclosure rules. They’re feeling good, have momentum, the technical and market ecosystem is maturing, and laser supplies are no longer an issue.
The CEO asked one of the shareholders to share a story of how he used a PicoAir (or was it a PicoPro?). He was on a group outing with lots of kids. After dinner, instead of gathering around the campfire, the kids started looking at their screens. He got a sheet from a tent, set up his cell phone and projector, and pulled in all the kids for an impromptu showing of Kung Foo Panda. So, at least the kids were watching the same screen, having a shared experience, and not squinting.
Of course the two big news items were Celluon and Sony.
Celluon released the PicoPro and the PicoAir, and received positive reviews. Image size, quality, color, form factor, and focus-free are a strong suite of competitive advantages.
Sony is the company that can be mentioned but not typed, at least by MicroVision management. Evidently, their agreement is that, in print, MicroVision’s customer is a Fortune 100 company; but in conversation they can say Sony.
Sony looks to regain their technical and public prominence, and picoprojection is one of the enabling technologies for their corporate strategy. In addition to the revenue news we’ve heard before, they also mentioned a $18.3M backlog, the specifics of which were news to me.
In addition there were an additional 4-6 OEMs exhibiting works in progress at CES. News to follow, possibly.
The Fortune 500 innovative smartphone continues, but about the only additional information was that they are working on their own version of an engine.
The 2 HUDs and UPS are in consideration by the customers and are out of MicroVision’s control.
In addition to the backlog, MIcroVision has $16.7M in cash. The company has never been in such a strong financial position.
The goal is for significant growth for the company, the products, the supply chain, and the pipeline. The CEO feels the company is at an inflection point. (This was mentioned several times by the CEO and others.)
While we may know MicroVision and PicoP very well, the market doesn’t. One survey suggested 97% are unfamiliar with either. This is also an opportunity for growth.
The CEO highly recommended Mary Meeker’s recent market analysis.
Market growth by sectors:
personal projection ~ 32.4% CAGR
HUD ~ 27% CAGR
Image Sensing ~ 23% CAGR
Eyewear ~ 194%
They feel their intellectual property is strong and will be protected.
There are soon to be more committed partners.
They feel that they are out of the storm, that next year there will be greater smiles, and that they appreciate our patience and support.
That concluded the business presentation.
QUESTIONS & ANSWERS (heavily paraphrased because I spent more time listening than writing)
Before answering any questions, the COB made the point that they won’t say who is the Fortune 500 phone company.
? The laser-based projection products in the news are impossible for shareholders to distinguish between MicroVision technology and not, but they know and can’t say. The COB made some comment about “don’t be afraid of big companies buying small companies”. (Which made me wonder about mergers and acquisitions, with no expectation of getting a straight answer so I didn’t ask.)
? Are there patent protections against using MEMS in arrays or with x-rays? A long lawyer’s answer of no comment was followed by the COB? pointing out the shifted emphasis from component-centered business to systems-based business.
? They continue trying to recover the $1,7M from the previous CEO.
? There are features outside the engine that are also affected by MicroVision which can also lead to additional royalties.
? The company is focusing on high profit margin revenue streams, unless they are too small.
? The MVIS logo or Image by PicoP is only visible on products or splash screens after negotiations with the customer. Some ask too much.
? The current displays have 30-35 lumens, but work continues in “The Frankenstein Lab” (first mention) for much higher brightness.
? Lenovo? See above. Basically, no comment; but lots of words to play with.
? Component margins are aimed at greater than 40% with improvements every quarter, but services, royalties, and licensing have much higher margins.
? If companies like Google, Motorola, of Lenovo hold MVIS shares, they are doing so very quietly.
? MicroVision scanners, beyond Flic technology, allow interactivity and air touch - and they can’t discuss more.
? UPS and HUD are in customer evaluation.
? The company goal is to maintain a cash burn of $1M/month, which suggests no large hiring until there are significant revenues or margins.
? Knockoffs happen, especially in China.
? Management is visiting fundamental investors about once per month.
CLOSING STATEMENTS
The COB emphasized the very nice inflection point, that they intend to be good stewards of our investments, they will hire as appropriate, currently things feel very good though there are no guarantees, and that they are facing a tremendous opportunity.
The CEO echoed that and passed around the pride he had in the employees that were in the room.
MY SUMMARY & CONCLUSIONS (opinion, not fact)
I will tell you my summary and conclusions in a rambling, stream of consciousness style, because I am assimilating the information as I type; but, a good friend and shareholder framed it concisely; “Kinda like last year, but with more smiles.”
The potential upside remains incredibly high. The potential downside has dramatically improved. Last year I placed a higher probability on the company going bankrupt before the good news arrived. With a combined cash and backlog of about $35M, the downside risk has shrunk. My investing style is based on ‘Present Value of Future Revenue Discounted for Risk’. The future revenue projections haven’t changed. The risk has diminished. The present value is therefore higher - and is still far below what I estimate.
My hesitancy is based on the lack of quantitative information. There is an improvement over previous years (re: backlog+cash), but in the last twelve months there was only a pair of products, Sony refuses to be described in print, and the other customers are even more private. We have a lot more to talk about and speculate on, but very few quantifiable facts. Math is important to many investors, and they pay little or no attention to stories. That diminishes demand for the stock.
My enthusiasm is as great as ever, and occasionally I even find myself being slower to chastise myself for believing the company, the stock, and we shareholders may significantly benefit. But, I don’t share that around too much because most of my friends have already heard about it too much, not because I talk about it much, but because I’ve talked about it for so long. I think they equate MVIS with WOLF.
Other hesitancies are from little things: a lack of a financial report at the ASM, big competitors who could infringe on patents and delay rulings based on legal staff size, the possibility of a takeover or buyout (see GNET and PIXR), the randomness of the universe.
And then my enthusiasm kicks back in because I think MicroVision’s technology can disrupt teh technological world ala: PCs over mainframes, laptops over desktops, smartphones over laptops - with each disruption being larger and more abrupt. It would be too easy to be too late to participate.
DISCLOSURE: On balance, and within my meager means, I bought more after the meeting and just before I started typing this.
LTBH since 2000, hesitant to mention the company to friends, but too drawn to the potential and the drama to keep from telling the story - just like last year, and the previous years going back over a decade.
More than 8 hours/day of media consumption
Media consumption is going mobile, and it's mostly television and internet. The ultimate bigger screen for mobile media consumption is licensed by MicroVision.
At QZ
On average, people spend more than 490 minutes of their day with some sort of media, according to a new report by ZenithOptimedia. Television remains dominant, accounting for three hours of daily consumption—an hour more than the internet, in second place. (The report measures media consumed in its traditional form—for example, broadcasts on television sets and newspapers in print. Watching videos on the web or reading a newspaper’s website counts as internet consumption.)
Thursday, May 28, 2015
Lenovo Projector Phone
No matter what this will be good for MicroVision and its shareholders.
If this gets people excited about small projectors, they'll start digging and discover that MicroVision has the BEST small projector technology. They'll learn that with SONY we're ready to take the market by storm. (maybe they'll discover our huge lead in Augmented Reality patents too.)
I do not know if this is MicroVision. The video of the unit in action seems to indicate that it is laser scanning, which points our way.
Also, Lenovo was recently owned by IBM, to which MicroVision has a direct connection through board member Jeanette Horan.
Lenovo may also have a connect to MicroVision through their purchase of Motorola Mobile. The two companies have had an extended relationship.
It seems apparent that this is a "concept" device, and not something that will be released to the public soon.
An excellent explanatory post from InvestorVillage with some explanations: InvestorVillage Post
Whether or not this is MicroVision inside, (I suspect strongly that it is) What is shown below IS possible with MicroVision technology NOW, and we should see products released to the public soon.
We need to give this person some musical talent.... but the application is cool
CNBC Takeaway
LINK
If you look at the projection on the piano it does look like a laser-scanning type display scan lines.
This actually gives me more confidence that this could be PicoP. The Scan lines match PicoP scan lines in frequency and shape.
MVIS line scan
More pictures
This is also showing similar dimensions and shape of what SONY described for the P2
MVIS Prototype from a couple of years ago (from MicroVision tracker)
"Little information on embedded hardware, it is currently a concept, not a final product.Lenovo has already experienced this kind of integration in a tablet Yoga, Lenovo Yoga Tablet 2 Pro ."
A comparison. Shared by a Yahoo message board user. I've copied it because often such pictures disappear from the source, and I'm not sure the user wanted a link to it. Ultimately, this looks different from the PicoP we know well, but has many similarities. There are details to figure out.
Dichroic wedge stack light combining apparatus, system and method
If this gets people excited about small projectors, they'll start digging and discover that MicroVision has the BEST small projector technology. They'll learn that with SONY we're ready to take the market by storm. (maybe they'll discover our huge lead in Augmented Reality patents too.)
I do not know if this is MicroVision. The video of the unit in action seems to indicate that it is laser scanning, which points our way.
Also, Lenovo was recently owned by IBM, to which MicroVision has a direct connection through board member Jeanette Horan.
Lenovo may also have a connect to MicroVision through their purchase of Motorola Mobile. The two companies have had an extended relationship.
It seems apparent that this is a "concept" device, and not something that will be released to the public soon.
An excellent explanatory post from InvestorVillage with some explanations: InvestorVillage Post
Whether or not this is MicroVision inside, (I suspect strongly that it is) What is shown below IS possible with MicroVision technology NOW, and we should see products released to the public soon.
We need to give this person some musical talent.... but the application is cool
CNBC Takeaway
LINK
If you look at the projection on the piano it does look like a laser-scanning type display scan lines.
This actually gives me more confidence that this could be PicoP. The Scan lines match PicoP scan lines in frequency and shape.
MVIS line scan
More pictures
This is also showing similar dimensions and shape of what SONY described for the P2
MVIS Prototype from a couple of years ago (from MicroVision tracker)
From Frandroid
A comparison. Shared by a Yahoo message board user. I've copied it because often such pictures disappear from the source, and I'm not sure the user wanted a link to it. Ultimately, this looks different from the PicoP we know well, but has many similarities. There are details to figure out.
Someone on one of the boards mentioned some of the patents, owned by MicroVision that cover this particular build. I am not a patent expert.
The post @ InvestorVillage
The post @ InvestorVillage
Dichroic wedge stack light combining apparatus, system and method
Wednesday, May 27, 2015
Augmented Reality Innovation.... who leads?
So, Augmented reality is getting big. People are talking about it. Techies everywhere are looking at it, and trying to position themselves in the space:
- Hololens
- Samsung Gear VR
- Oculus Rift
- Google Glass
You might want to find the company with the most patents in the space as that one key place to invest. Get there before the herd to maximize your profits.
Well, MicroVision is in the lead.
From PatentVue
From PatentVue
Microvision Inc. topped our list as the largest US patent holder in this space, owning 233 US patents primarily related to hardware components for augmented reality systems, with a focus on miniaturized MEMS and PICO level systems.
Oneplus 2 = ?
This is pretty interesting. Oneplus One is a company that deserves to be watched closely.
It has hungry people in charge who are creating new things and reasonable prices, using interesting and efficient marketing strategies.
They will be making an announcement on June 1st. (According to THEM now, which is better than the rumor mill does) And they have some confidence they're going to shake things up a bit. To do something very new. Even if it's not some inclusion of PicoP technology, I hope it is really interesting. In the past few years some companies have cried wolf a lot about having something extraordinary and new -- lowering expectations everywhere.
There are two other reasons to watch this: Some reports surfaced of a phone with an additional item to be released that isn't the size of a smart phone. (Link from Android Headlines)
I also think that the "invite only" method of launching a product is interesting and would serve our interests well.
Ultimately though -- focus here only because we MIGHT pop up here. We'll see in a few days.
ONEPLUS website
ONEPLUS Twitter
From UberGizmo
You can more or less say that the OnePlus One has proven itself to be quite the smartphone with a relatively affordable price point. Well, nothing lasts forever, so it does make perfect sense for there to be a new and improved sequel, so to speak, for this particular handset. While it looks as though OnePlus is ready and waiting to roll out its latest smartphone officially, chances are that will happen this coming June 1st since the company has announced that they are set to deliver a change. And I would like to think that this “change” comes in the form of the OnePlus 2, based on a tweet.
After all, it has been said that a rumored OnePlus 2 has already been benchmarked, but until something official is revealed concerning the said handset that was benchmarked, everything should be taken with a pinch of salt. It looks like OnePlus continues to retain its faith that with the release of the OnePlus 2, they will be able to have a handset that will disrupt the industry, shaking the technological brand down to its roots.
Do bear in mind that should the OnePlus 2 be announced on June 1, the handset would still be far from ready for a launch, as chances are it would be sold only from July onward – and hopefully not through the company’s rather controversial invite system.
It has hungry people in charge who are creating new things and reasonable prices, using interesting and efficient marketing strategies.
They will be making an announcement on June 1st. (According to THEM now, which is better than the rumor mill does) And they have some confidence they're going to shake things up a bit. To do something very new. Even if it's not some inclusion of PicoP technology, I hope it is really interesting. In the past few years some companies have cried wolf a lot about having something extraordinary and new -- lowering expectations everywhere.
There are two other reasons to watch this: Some reports surfaced of a phone with an additional item to be released that isn't the size of a smart phone. (Link from Android Headlines)
" However, new images which have appeared on Weibo in the last few hours are now starting to suggest that the company will also be releasing a new product at the same event. The images are not that revealing and do not provide any firm details on what to expect. That said, they do seem to show what appears to be the packaging for a product which is not currently available. While the immediate speculation will be for the OnePlus 2, the box looks far too thin to be the next OnePlus smartphone."
I also think that the "invite only" method of launching a product is interesting and would serve our interests well.
Ultimately though -- focus here only because we MIGHT pop up here. We'll see in a few days.
ONEPLUS website
ONEPLUS Twitter
From UberGizmo
You can more or less say that the OnePlus One has proven itself to be quite the smartphone with a relatively affordable price point. Well, nothing lasts forever, so it does make perfect sense for there to be a new and improved sequel, so to speak, for this particular handset. While it looks as though OnePlus is ready and waiting to roll out its latest smartphone officially, chances are that will happen this coming June 1st since the company has announced that they are set to deliver a change. And I would like to think that this “change” comes in the form of the OnePlus 2, based on a tweet.
After all, it has been said that a rumored OnePlus 2 has already been benchmarked, but until something official is revealed concerning the said handset that was benchmarked, everything should be taken with a pinch of salt. It looks like OnePlus continues to retain its faith that with the release of the OnePlus 2, they will be able to have a handset that will disrupt the industry, shaking the technological brand down to its roots.
Do bear in mind that should the OnePlus 2 be announced on June 1, the handset would still be far from ready for a launch, as chances are it would be sold only from July onward – and hopefully not through the company’s rather controversial invite system.
SONY IR Presentation --- Materials include PicoP
I haven't yet been able to listen to the entire presentation. I will and will post any specific mentions or pertinent information.
At least half of the presentation is answering questions, so it won't be included in the materials... stop back and I'll get to those.
Interesting things (No particular order)
Here are the links:
SONY Devices Division IR WEBCAST (32 minutes)
Presentation Materials
At least half of the presentation is answering questions, so it won't be included in the materials... stop back and I'll get to those.
Interesting things (No particular order)
Here are the links:
SONY Devices Division IR WEBCAST (32 minutes)
Presentation Materials
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