Comments on Liam Mulcahy's articles RSS Syndication from SeekingAlpha.com http://seekingalpha.com/author/liam-mulcahy/articles http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-198607 198607 Fri, 04 Jul 2008 12:54:31 -0400 http://seekingalpha.com/article/56348-fuel-tech-or-fool-s-tech-valuation-suggests-the-latter?source=feed#comment-197593 197593 Wed, 02 Jul 2008 20:01:07 -0400
seekingalpha.com/artic...

frankly, looks like he's a liar.

Fuel Tech doesn't depend on access to the capital markets to fund its business. I'm buying more.]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-194784 194784 Sat, 28 Jun 2008 12:34:32 -0400
]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-194528 194528 Fri, 27 Jun 2008 20:03:30 -0400
At this point, all Seeking Alpha is guilty of is lazy fact-checking.

But if you ignore all that been said above--all the verifiable facts
that prove Mulcahy is a transparent and self-serving deceiver--then what does that make SEEKING ALPHA, if not a knowing and willing participant in the slander of an innocent company for profit?

.]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-194331 194331 Fri, 27 Jun 2008 13:02:51 -0400 pretense of credibility (look at most Yahoo! posters), but if you want
people to take what you have to say seriously, then you need to be
able to back it up.

Apparently, Seeking Alpha has decided to jettison any credibility it
might have had in favor of becoming known as the outlet for
fantasy-based, unsubstantiated ranting. If the site decides to
republish the calculated lies of a basher without providing any
substantiation for the following claims, then in my opinion, the editors are negligent, because a brief amount of research on their part would have revealed:

The lie: "Texas Instruments just beat Microvision to the market (by at least 6 months)."
The truth: - Microvision and Texas Instruments both plan to introduce limited quantities of pico projectors late in 2008 with a ramp up in early 2009. Optoma's pico projector is not currently available for sale (notice that it doesn't even have a model number or a product name), so the company hasn't "beat" Microvision to the market at all, much less by six months.

The lie: "TI/Optoma solution is more than twice as bright as
Microvision's ... As far as color saturation the two devices are
essentially equal, but because TI's solution is twice as bright, the
image appear much more vivid."
The truth: Microvision's solution has 2.6 times the pixels of the
TI/Optoma solution. Both devices output 10 lumens of brightness, and the Microvision solution has 150% of the TI device's color range. The products are not even "essentially equal" - the Microvision device is clearly superior. Think DVD quality (Microvision) vs. VHS quality (TI/Optoma).

The lie: "Texas Instrument's solution is available in mass quantities
today"
The truth: Limited quantities will be available later this year. More
are planned to be produced next year - Microvision has announced the same schedule for releasing its device. What model number would I use to order the "mass quantities" that are available today? ...? ...that's what I thought.

The lie: "Our sources confirm what Detwiler was reporting on Friday.
Microvision has yet again delayed the original shipment date of the
`Show'"
The truth: Microvision's annual sharehold meeting was held on
Wednesday of this week, and representatives of the company reiterated their plans for bringing pico projector products to market in limited quantities before the end of this year with increased production during the first quarter of 2009. Apparently "Detwiler" missed that memo. Do you guys actually get paid for this kind of "research?"

The lie: "Texas Instruments is able to offer OEMs a viable roadmap to deliver massive quantities of brighter (2x-10x brighter) and cheaper pico projectors than Microvision could ever theoretically deliver with lasers."
The truth: The author gives no evidence to support any part of this
statement. Microvision's SHOW is a class 2 laser device - as safe as
any laser pointer, and probably safer than most business and home
theater projectors. Lasers that produce visible wavelengths of light,
which trigger the eye's blink reflex, are typically considered safe.
Unless Microvision is planning to release a product with an
ultraviolet laser (which no one could see), this isn't a real concern.

The lie: "Investors in Microvision need to see the light and realize
that the dream is rapidly becoming a nightmare."
The truth: Readers of Seeking Alpha need to "see the light" and
realize that this outlet has just reduced its credibility to the level
of an unmoderated Yahoo! message board.]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-194209 194209 Fri, 27 Jun 2008 11:26:52 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-192325 192325 Wed, 25 Jun 2008 00:27:03 -0400 -------------------
rovision-MVIS sees 'enormous inaccuracies' in Seeking Alpha blog-DJ
According to Microvision director of communications Matt Nichols, a blog posted on Seeking Alpha about Microvision is wrong. He said, "Do I completely disagree [with the post] and think there are enormous inaccuracies? Yes. We've publicly stated that we're in the process of building our milestones toward a limited introduction of our display engine at the end of 2008 with a ramp towards volume production in the 2009 timeframe." :theflyonthewall.com]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-192307 192307 Wed, 25 Jun 2008 00:02:03 -0400
----------------------...

Microvision: Color on today's stock action (3.00 -0.40) : Barron's Online reports "the co's shares are sharply lower this morning on a highly negative post about the co on the investment blog aggregation site Seeking Alpha. The post is attributed to someone named Liam Mulcahy, who is described as someone who "works in a hedge fund that is short Microvision." The hedge fund isn't named; and I can't find anything else on the author. Anyone know who he is? Microvision is developing pico projectors, which as the name implies are very small projectors designed to be embedded in small devices. A projector company called Optoma last week unveiled a pico projector using rival technology from Texas Instruments (TXN). The post asserts that Microvision's own projectors, known as The Show, continue to fall behind schedule, and that Microvision is facing a cash crunch. That all may well be true, but the fuzzy ID for Mulcahy - and the willingness of Seeking Alpha to post material of unclear origin - makes me a little queasy."]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-192302 192302 Tue, 24 Jun 2008 23:55:01 -0400
www.clusterstock.com/2...]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191777 191777 Tue, 24 Jun 2008 11:13:05 -0400
I will say that it is encouraging to see that the article was removed before the start of trading today. Hopefully, Seeking Alpha's follow-through on this issue will be similarly encouraging.]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191754 191754 Tue, 24 Jun 2008 10:50:15 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191394 191394 Alex: Good question, I can’t give you the answer. (BTW, Alex giggled during this answer) ]]> Mon, 23 Jun 2008 20:46:52 -0400
"Microvision just ran out of time

Microvision needed to have the OEM order in hand for Q4:08 shipments in order raise cash in Q3:08"

Totally false statement. Never, and I repeat, NEVER has that been stated.

Alex: We trying to get firm commitments in Q3 so we have to do a lot of leg work at the end of Q2 and early Q3 to start getting this feedback, because that’s an essential component of the go to market strategy and again to date we have all reasons to believe that we’re moving in the right direction. Obviously to your question, would we benefit from more units at this time? Absolutely.

Joel: But I mean of course you’re using your cash relatively wisely but I don’t expect your operating expense will decline considering you’re going into these launch modes so obviously execution is a critical factor because inevitably you’ll drain that cash, so but obviously we see some significant traction that will hopefully support this stock.

Alex: Fair statement, you know we finished this quarter with 30 million dollars and we feel we have a sufficient amount to get us through the year. Each dollar is spent only on the critical activity; it’s not wasted on any other item. You’re right. You can see that first quarter of this year the operating expenses are higher than they were a year ago, but not much higher from the 4th quarter and this is part of our evolution as a company, any company goes from being a technology company to becoming a products company they need to invest into additional R&D resources, that’s familiar with high volume manufacturing, you need to get strategic sourcing team in place, you need to get the right (?) team that can close some of these remaining contracts.



The truth... from Q1 CC

Brian: Great, great, and then just one final one and this was an issue raised by another caller earlier. It’s fairly obvious you guys are going to have to raise money, whether that’s through debt or doing a share offering, I’m curious if you hit your targets and if you get the reception that you’re hoping for, how much money do you think you’re going to have to raise in the 3rd quarter in order to facilitate building up your initial accessory products.

Alex: Brian, this is a topic we don’t intend to discuss in much detail because we can’t we’re continuing to reviewing these options that are available to us, and we intend to raise money when market conditions are favorable and when it’s the right time for the company.

Brian: Obviously you’re not going to wait until you run out of cash, and you’re hoping to manufacture these things for introduction early next year, which gives us an obvious time frame in terms of when you have to raise money, I’m just curious as to how much money it’s going to take for you guys to get the initial volumes up and running.

Jeff: How much it’s going to take will depend obviously on the ramp, the access to other working capital lines, how much our suppliers and customers finance that, so that’s something we are continually monitoring and modeling and evaluating as we go through time.


Joe: To your previous caller was asking about raising and mentioned 3rd quarter and you’re going to ramp this thing up. Not to put thoughts in his mind or read his mind, but sounded like he was sort of convinced that you guys were going to have to foot the bill for the entire manufacturing process which that never seemed to be the case for me. You mentioned contract manufacturers you mentioned partners, so the dollars you raise are not, am I assuming correctly, that you are not going to be spending the entire amount on manufacturing you will have some partners.

Alex: No nothing has changed Joe, you know, we still partition and try to distribute cost around our architected supply chain and the strategic partners are defined by their contribution to this common cause so we don’t treat people or supply chain players as pure contract manufacturers which is the model where we have to pay for everything. We’re given certain advantages first market movers then to certain market share projection guarantees in exchange for them coughing up some of the dough to cover these expenses.

Joe: Are any of these partners of yours potential sources for your next capital raise>

Alex: Good question, I can’t give you the answer. (BTW, Alex giggled during this answer)


]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191381 191381 Mon, 23 Jun 2008 20:24:21 -0400
1. MVIS management has been promising to deliver a projector that will ultimately fit inside a cell phone. Texas Instruments just beat Microvision to the market (by at least 6 months).

where is the cell phone projector sizes?
Optoma's projector - Dimensions : W50mm x D103mm x H15mm
yet the only thickness i can find on MVIS"s projector "only" is: 40mm x 20mm x H7mm
so if its only 7mm and we add a few mm to package. we don't end up with H15mm!
the Show is said to be the same size as a PDA. are PDS'a 15mm thick?


2. The TI/Optoma solution is more than twice as bright as Microvision’s
and later
OEMs a viable roadmap to deliver massive quantities of brighter (2x-10x brighter)

so which is it?
also note that 3M's projector is using the same LEDs and only get a 50" dia.
and they are not 2x brighter then MVIS's projector.

3. Additionally, the TI solution delivers a much more stable image when held in a hand. ..... then states later "impromptu adolescent use (mobile and outdoors)"

what kind of statements are these?
if there's a problem sitting still then who would want to invest in either stock or buy one!
and focusing does matter in "impromptu adolescent use" on the move! Big difference to continue to focus on while moving OUTDOORS.

4. thus isn’t subject to the same regulatory safety restrictions that lasers fall under. This means that, Texas instruments is able to offer OEMs a viable roadmap to deliver massive quantities of brighter (2x-10x brighter) and cheaper pico projectors than Microvision could ever theoretically deliver with lasers.

what does safety have to do with delivering massive quantities? misleading misleading
ya think Corning would build a Laser that would cause safety concerns. does it make since Corning spending millions to put out lasers that won't sell!

5. This statement is true if we isolate the product usage to very dark rooms where the projector is stable on a surface. Unfortunately, the usage models that """"phone makers and carriers are looking"""" for are primarily business settings (ie, slightly dimmed lights) and impromptu adolescent use (mobile and outdoors).

wrong wrong wrong - from MVIS's CC we find major cell phone companies have set down requirements for cell phones embedding projector.
A. 7mm or thinner.
B. run time must be 2 hrs.
C. carriers don't make cell phones!

i think there is a SVGA resolution. NOT DLP's 480 x 320. MVIS's is WVGA 848x480 with DVD colors.

]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191364 191364 Mon, 23 Jun 2008 19:46:12 -0400
I'll give this some time and then come back later so that we can talk about the "essentially equal" color gamut and this comment: "its light engine is no larger than Microvision’s (implying viability for embedded handset designs)."]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191352 191352 Mon, 23 Jun 2008 19:32:08 -0400
"Optoma showcased what it calls the world’s first pico projector. The extremely light and small pico projector uses a LED for the light source and is based on Texas Instruments’ DLP technology. The battery lasts just one hour on a complete charge so it is best used for short presentations and small spaces. The tiny projector emits 10 Lumens of brightness according to the company"

source: www.displayblog.com/20.../
]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191345 191345 Mon, 23 Jun 2008 19:19:23 -0400
If having the product available for worldwide sale is the benchmark, as you can see in the following video, an Optoma representative is claiming that the unit will be available in early 2009 (or in limited markets, some unspecified about of time before early 2009).

www.youtube.com/watch?...

The CEO of Microvision, on the last quarterly conference call stated that the production version of the SHOW would be available in the first quarter of 2009, and limited units might be available in the 4th quarter of 2008.

No matter how you try to spin those facts, the statement "Texas Instruments just beat Microvision to the market (by at least 6 months)." is demonstrably false and misleading.

Shall I continue, or are people starting to get the idea?

It's okay to have a different opinion. It is not okay to have a different set of facts.]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191336 191336 Mon, 23 Jun 2008 19:04:14 -0400
www.youtube.com/watch?...
]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191274 191274 Mon, 23 Jun 2008 17:36:13 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191266 191266 Mon, 23 Jun 2008 17:25:06 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191215 191215 Mon, 23 Jun 2008 16:08:51 -0400 SA just published another article by Liam and they still haven't presented the readers with his biography.

Six months is more than enough time for a professional to abbreviate their resume and e-mail it in. Even a grade-school student can get a biography done in one semester.

What does that tell a researcher about the usefulness of Seeking Alpha?

]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-191173 191173 Mon, 23 Jun 2008 15:13:15 -0400
But I think less of Mr. Mulcahy. He contributed once 6 months ago but still no Bio. I have to think that this post is less about the merits of MVIS and more about the desires of Mulcahy.

I've traded MVIS in the past. Don't have a position now.
I've got no problem being a short or a long but let's try to be honest and not self serving.

My analysis of MVIS indicates that their concept is superior to TI. It will scale better, so I think Liam is wrong on that part of his analysis.

I do agree that management has lost credibility with their delays and slips. They don't have a solid enough track record to make we want to take a chance on them. ]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190997 190997 Mon, 23 Jun 2008 12:33:27 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190937 190937 Mon, 23 Jun 2008 11:47:23 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190696 190696 Mon, 23 Jun 2008 07:05:39 -0400
In this case the consumer will eventually decide the best product in terms of availability, quality and price. If TI's pico is first to market and is eventually eclipsed by MVIS' product, in terms of projection quality and focus wheel issues, the consumer will recognize that too. My sense is that picture quality is an acceptabe trade-off for mobility, compactness and cost.

What's not an acceptable trade-off is a cumbersome focus wheel. If we've learned anything from Apple, its that if a mobile device is going to be cool, it must be easy to operate. The focus wheel will be tolerable until MVIS' cooler pico is brought to market, then it crashes.

So thanks Liam for the good research and hopefully it'll bring the price of MVIS down so we can accululate more at a better price.]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190547 190547 Sun, 22 Jun 2008 21:24:27 -0400
Until both are on the market, how can anyone say DLP is cheaper? I can't believe some of the early LED entrants with $400 price points.

An no OEM in the world thinks business users are the only primary target audience - to say that shows a complete lack of research. Wait, maybe that is the primary target for LED systems that can't embed into higher volume cell phones and devices for audiences with higher quality expectations.

Further - do you really think leading-edge companies like Apple would dare use something like a focus wheel when infinite focus is available? How un-chic and un-cool that product would be - maybe the Zune would use a focus wheel, but I'm pretty sure you'll never see one on any iPod with a projector embedded in it.
]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190498 190498 Sun, 22 Jun 2008 20:01:17 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190462 190462 Sun, 22 Jun 2008 19:04:26 -0400
This statement is true if we isolate the product usage to very dark rooms where the projector is stable on a surface. Unfortunately, the usage models that phone makers and carriers are looking for are primarily business settings (ie, slightly dimmed lights) and impromptu adolescent use (mobile and outdoors)...

thats funny. no its plain stupid. whats the point of this statement?? having no focus wheel is what oems are asking for? OMG. and this guy is working for a hedge fund?

btw. TI has never shown a demonstration with video content. wondering why? because the device would be sucking power like a tv set and getting hotter than a toaster.


]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190461 190461 Sun, 22 Jun 2008 19:04:23 -0400
Your only supporter goes by the name proudwhitenazi--you should be very proud of your work....

]]> http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190458 190458 Sun, 22 Jun 2008 19:03:38 -0400 http://seekingalpha.com/article/82223-microvision-s-no-show-hands-the-pico-projector-market-to-ti?source=feed#comment-190453 190453 Sun, 22 Jun 2008 18:54:24 -0400 www.popularmechanics.c......

This morning Texas Instruments (TI) announced that it’s bringing the next generation of handheld displays to market with the Optoma Pico, a gadget it claims will be the tiniest projector ever made commercially available. Traveling salesmen everywhere, rejoice!

When TI showed off its handheld projector technology at this year’s Consumer Electronics Show in January, the company attracted wide eyes and big prizes alike for a prototype device stored in a mock cellphone (and a 3D TV). But the technology, which shrinks TI’s breakthrough Digital Light Processing (DLP) chip and its micromirror mechanics by a couple form factors, live solely in concept form, with no manufacturing partners confirmed—or even really imagined for the near future.

That changes today. TI has taken the wraps off a sooner-than-expected release of the Pico, which will be built in a partnership with the Taiwanese projector company Optoma. The product is slated to hit shelves in Europe and Asia by the end of this year, and should make its way to the United States in 2009. The Pico’s launch price will be under $300, according to Frank Moizio, TI’s business manager for emerging markets.

Although most of the speculation around the gadget has centered around it being integrated into mobile devices such as cellphones and portable media players, the Optoma Pico will be a stand-alone projector. That doesn’t mean it won’t be able to hook up to and project video and slides from many devices, likely including the Apple iPod, PlayStation Portable, ultraportable laptops and plenty of cellphones (maybe even Android-enabled ones?).

According to Moizio, the Pico will provide a clear projection onto an 8.5x11-in. piece of paper for most indoor lighting situations. It’s no home movie theater, but the image will be big enough to share your portable media player content easily with friends.

The battery-powered Pico should manage one to two hours of battery life, which TI reps assured us would be long enough to last through most movies. We’ll certainly have to test it out in the coming weeks for a final answer on that one.

To be sure, TI isn’t the only company jumping on the microprojector trend. Redmond, Wash.-based startup Microvision gave us some hands-on time with a similar, even tinier gadget at CES that uses tiny lasers to scan and project its video. Back then, Microvision told us that to expect its device to hit the market by the end of this year as an add-on for mobile phones, DVD players and gaming consoles. Will 2009 be the year of the handheld TV? Let’s hope so. —Seth Porges ]]>