Microvision (MVIS) -3.7% AH after announcing a stock offering of undisclosed size. The company...

Microvision (MVIS) -3.7% AH after announcing a stock offering of undisclosed size. The company only says it intends to use the proceeds for "general corporate purposes." Microvision has been bleeding cash for much of its history, and only had $6.8M on its balance sheet as of March 30. (PR)

Comments (3)
  • No. 1 Trader
    , contributor
    Comments (69) | Send Message
    Microvision is a poorly run company. How they can burn through millions of dollars per quarter without generating much in revenue is beyond me. This must be the third stock offering in two years. Who would buy this crap when a few months from now they will do it again diluting share holder equity again and again.
    14 Jun 2012, 09:07 PM Reply Like
  • wtrsedge
    , contributor
    Comments (3) | Send Message
    I'm an original investor in MVIS. First acquired at approximately $4 (adjusted) and rode it to about $90 (again adjusted) and back down again to $4 when I sold in February. Fortunately I took some profits about $60 so I didn't get hurt, but I rode my balance down to today's gutter.


    I'm a little vague because over the years because this company has, out of desparation, diluted its stock so many times I gave up figuring my true basis cost.


    While tempted by The Stock Miners recent cogent technical post about the technolgical promise of late I can not lose sight of the pre-occupation of the Board and top mangement with maintaining their stock listing over the past years! Today's announcement only affirms my fears. I want to reinvest, but my gut says NO WAY now.


    I say this as a former CEO of hi-tech public & VC-backed corporations. I know the management diversions required by the financial exigencies. MVIS still doesn't smell right to me. Someone please convince me otherwise.
    14 Jun 2012, 10:58 PM Reply Like
  • No. 1 Trader
    , contributor
    Comments (69) | Send Message
    They have a nice technology. Unfortunately they do not know how to promote their product or produce it. They like to play in the lab and bill the share holders with no conscience of how they spend share holder dollars. They keep going back to the cookie jar and when it is empty as soon often it is, they ask mommy to fill it again as she so often does. Anyone who would invest in this new public offering is an idiot. Or maybe this time it's different? How many times can they screw us? Maybe Pioneer will buy the company and that would make everything right. But cost adjusted what would they have to pay to make original investors a profit $90.00 per share? That isn't going to happen.
    15 Jun 2012, 08:30 AM Reply Like
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