Microvision's scanning engine has shrunk dramatically in the last two years alone. One year ago, Microvision announced the Gen3 scanning engine, which was the first retinal scanning display that did not require a vacuum housing for the vibrating micromirror:
"This breakthrough should enable us to develop a scanning engine that can support a wide range of high volume consumer products, including electronic viewfinders for digital cameras and camcorders," said Rick Rutkowski, Microvision CEO. "The new scan engine is also a big step on the path toward integrating high-resolution electronic displays into something like conventional eyeglasses that could be used in a variety of applications including computer gaming, portable movie players and mobile devices, such as cell phones and PDAs. We believe that Microvision's displays are going to deliver a combination of performance, package size and price that is uniquely matched to the requirements of consumer electronics applications."
If you can believe it, Microvision's stock closed down the day this press release was issued. It just goes to show you the relationship between MVIS stock price and the progress the company makes commercializing their technology is, for now, tenuous at best.
People just seem to think there will always be LCD screens on cell phones. Or the back of your digital camera will always have an LCD viewfinder. Or your gaming console will always be hooked up to your big, bulky television in the middle of your living room.
When you consider that Microvision has a market cap of $120M, and owns $31M+ in LMRA shares, the value that is placed on the company's 100+ patents on microscanning technology and the future cash flow from every product to ever come from the company is less than $90M.
Within the next 12-18 months, Microvision's engineers will unveil a Gen4 scanning engine that will enable even higher performance displays for a fraction of the size, cost and power consumption of the already outstanding Gen3 scanner. And it stands to reason that there will be a further improved Gen5 scanner, and Gen6 scanner after that.
When Microvision's scanning engine is incorporated into mass-marketed consumer products that are on sale at every electronics, video game and cell phone store in the country, the revenue that comes into the company will be measured in billions.
Thursday's earnings call should be the first time the company has ever had significant revenue from the sales of scanned beam display products. This will establish the commercial viability of Microvision display technology, for any skeptics out there.
The general investing public's lack of imagination about the future of technology products, combined with the recent Nasdaq meltdown, creates an unbelievable opportunity for the rest of us to establish large positions for minimal cost. That being said, this website does not recommend the purchase or sale of any investment of any kind.
See the possibilities.
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