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<SEC-DOCUMENT>0001157523-08-003272.txt : 20080424
<SEC-HEADER>0001157523-08-003272.hdr.sgml : 20080424
<ACCEPTANCE-DATETIME>20080424160318
ACCESSION NUMBER:		0001157523-08-003272
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080424
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080424
DATE AS OF CHANGE:		20080424

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MICROVISION INC
		CENTRAL INDEX KEY:			0000065770
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS, NEC [3679]
		IRS NUMBER:				911600822
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21221
		FILM NUMBER:		08774479

	BUSINESS ADDRESS:	
		STREET 1:		6222 185TH AVE NE
		CITY:			REDMOND
		STATE:			WA
		ZIP:			98052
		BUSINESS PHONE:		4254156847

	MAIL ADDRESS:	
		STREET 1:		6222 185TH AVE NE
		CITY:			REDMOND
		STATE:			WA
		ZIP:			98052
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a5667601.htm
<DESCRIPTION>MICROVISION, INC. 8-K
<TEXT>
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    <title></title>
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    <p style="text-align: center">
      <br>
      <b><font style="font-size: 14pt; font-family: Times New Roman">UNITED
      STATES</font><font style="font-size: 14pt; font-family: Times New Roman"><br style="font-size: 14pt; font-family: Times New Roman"></font><font style="font-size: 14pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><b><font style="font-size: 10pt; font-family: Times New Roman">Washington,
      D.C. 20549</font></b><br><b><font style="font-family: Times New Roman">______________</font></b><br>
    </p>
    <p style="text-align: center">
      <b><font style="font-size: 14pt; font-family: Times New Roman">FORM 8-K</font></b><br><br><b><font style="font-size: 12pt; font-family: Times New Roman">CURRENT
      REPORT</font></b><br><b><font style="font-size: 12pt">Pursuant to
      Section 13 or 15(d) of</font></b><br><b><font style="font-size: 12pt">the
      Securities Exchange Act of 1934</font></b><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported): </font><b><font style="font-size: 10pt; font-family: Times New Roman">April
      24, 2008</font></b><br><b><font style="font-family: Times New Roman">______________</font></b><br>
    </p>
    <p style="text-align: center">
      <b><font style="font-size: 14pt">MICROVISION, INC.</font></b><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      Name of Registrant as Specified in Charter)</font><br><br>
    </p>
    <table style="font-size: 10pt; width: 100%; text-align: center; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td style="width: 34%; white-space: nowrap; text-align: center; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>0-21221</b>
          </p>
        </td>
        <td style="width: 33%; white-space: nowrap; text-align: center; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>91-1600822</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or Other Jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Incorporation)
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    <table style="font-size: 10pt; width: 100%; text-align: center; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>6222 185th Avenue NE </b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Redmond, Washington 98052</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="bottom">
          <font style="font-size: 10pt; font-family: Times New Roman">(Address
          of Principal Executive Offices)(Zip Code)</font>
        </td>
      </tr>
    </table>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt; font-family: Times New Roman">Registrant&#8217;s
      telephone number, including area code: </font>&#160;<b>(425) 936-6847</b><br><br>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions </font>(see General Instruction A.2. below)<font style="font-size: 10pt; font-family: Times New Roman">:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)) </font>
    </p>
    <p>

    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b><font style="font-size: 10pt; font-family: Times New Roman">Item
      2.02&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition.</font></b><br>
    </p>
    <p>
      The information in this Current Report is being furnished and shall not
      be deemed &#8220;filed&#8221; for the purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended, or otherwise subject to the
      liabilities of that Section. The information in this Current Report
      shall not be incorporated by reference into any registration statement
      or other document pursuant to the Securities Act of 1933, as amended.<br>
    </p>
    <p>
      On April 24, 2008, Microvision, Inc. issued a press release announcing
      its financial results for the quarter ended March 31, 2008. A copy of
      the press release is attached as Exhibit 99.1 and is incorporated herein
      by reference.<br>
    </p>
    <p>
      <b><font style="font-size: 10pt; font-family: Times New Roman">Item
      9.01&#160;&#160;&#160;&#160;&#160;Financial Statements</font></b>,<b><font style="font-size: 10pt; font-family: Times New Roman">
      Pro Forma Financial Information and Exhibits.</font></b><br>
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(c)&#160;&#160;<i>Exhibits</i>.<br>
    </p>
    <p style="white-space: nowrap">
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;99.1&#160;&#160;&#160;&#160;&#160;&#160;&#160;Microvision, Inc. Press Release
      Announcing Financial Results for the Quarter Ended March 31, 2008.<br>
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <b><font style="font-size: 10pt; font-family: Times New Roman">SIGNATURES</font></b>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <table style="font-size: 10pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            MICROVISION, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%; text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 44%; text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 5%; text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          By:
        </td>
        <td style="width: 45%; text-align: left; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;&#160;&#160;&#160;&#160;&#160;/s/ Thomas M. Walker
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Thomas M. Walker
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Vice President, General Counsel &amp; Secretary</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 44%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="width: 44%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            April 24, 2008
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
      </tr>
    </table>
    <p>

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5667601ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <b><font style="font-size: 12pt; font-family: Times New Roman">Microvision
      Announces First Quarter 2008 Results</font></b>
    </p>
    <p style="text-align: center">
      <b><font style="font-size: 12pt; font-family: Times New Roman">Company
      Successfully Showcases Progress at Major Industry Forums, Enters into
      Agreements with New Supply Chain Partners, and Signs Distribution
      Agreement for New Bar Code Product</font></b>
    </p>
    <p>
      REDMOND, Wash.--(BUSINESS WIRE)--Microvision, Inc. (NASDAQ:MVIS), a
      global leader in light scanning technologies, today reported operating
      and financial results for the first quarter of 2008.
    </p>
    <p>
      <b>Operating Results</b>
    </p>
    <p>
      &#8220;Following the successful unveiling of the accessory projector prototype
      named SHOW&#8482; at the 2008 Consumer Electronics Show, our momentum
      continued with strong showings at two other premier industry tradeshows;
      the 2008 GSMA World Mobile Congress in Barcelona, and the CTIA Wireless
      2008 in Las Vegas,&#8221; stated Alexander Tokman, Microvision President and
      CEO. &#8220;In addition to demonstrating our SHOW prototype at these events,
      Motorola and Microvision demonstrated in private meetings the first
      PicoP&#8482; display engine embedded inside a fully-functioning prototype
      mobile device.
    </p>
    <p>
      &#8220;We continue to see strong interest from prospective partners several of
      whom are currently evaluating our technology for their accessory and
      embedded PicoP consumer applications. We remain focused on the
      priorities needed to support the initial introduction of an accessory
      product based on our proprietary PicoP display engine. This year we have
      taken significant steps in enhancing the supply chain structure to
      support global commercialization of the PicoP enabled products,
      including signing two additional development agreements with high volume
      manufacturing partners to strengthen our go to market strategy.
      Additionally, we have made important progress on miniaturization and
      power reduction for the accessory and embedded products.
    </p>
    <p>
      &#8220;We are also pleased to announce that at the end of first quarter, we
      signed a master distribution agreement and received an initial purchase
      order from Brightpoint North America L.P., one of the world&#8217;s largest
      distributors of wireless products, for our MEMS-based ROV&#8482; bar code
      scanner designed specifically to support growing mobility markets. We
      expect this agreement should allow us to leverage Brightpoint&#8217;s global
      distribution capabilities to increase market penetration of ROV,&#8221;
      concluded Tokman.
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Highlights for the first quarter of 2008 include:
    </p>
    <p>
      <i>PicoP Projector Displays</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Successfully unveiled at the 2008 CES, the SHOW prototype, a
        PDA-sized, fully self-contained, battery operated, full-color laser
        projector intended for mobile device applications.
      </li>
      <li style="margin-bottom: 10.0px">
        Announced a development contract with a one of the world's leading
        consumer electronics conglomerates to evaluate Microvision's advanced
        pico projector prototype displays for use with a variety of mobile
        devices, including mobile phones, laptops, personal media players and
        digital cameras.
      </li>
      <li style="margin-bottom: 10.0px">
        Successfully demonstrated our technology at the 2008 GSMA Mobile World
        Congress and CTIA Wireless 2008 shows, where in addition to SHOW,
        Microvision and Motorola demonstrated in private settings the first
        fully-functioning prototype mobile device with a PicoP display engine
        embedded inside.
      </li>
    </ul>
    <p>
      <i>PicoP Supply Chain</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Signed development agreements with two high volume manufacturing
        partners to strengthen the go to market strategy for PicoP based
        products. These agreements represent important steps in developing the
        supply chain in preparation for high volume manufacturing of PicoP
        based products.
      </li>
    </ul>
    <p>
      <i>Automotive displays</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Subsequent to the end of the first quarter delivered a prototype
        instrument cluster display based on the PicoP engine to one of our
        global Tier 1 automotive customers. The Tier 1 customer plans to use
        the deliverables to market to and establish product requirements for
        this display application with leading global automotive manufacturers
        in Asia and Europe.
      </li>
    </ul>
    <p>
      <i>Eyewear displays</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Delivered advanced prototypes of a helmet mounted display to General
        Dynamics under the Mounted Warrior contract. General Dynamics plans to
        use these next generation prototypes to market the see-through, color
        capabilities of a soldier-worn helmet-mounted display to military and
        federal customers to gain a stronger understanding of this segment&#8217;s
        market viability and potential.
      </li>
    </ul>
    <p>
      <i>Bar Code Scanners</i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Signed a master distribution agreement with Brightpoint for the ROV,
        Microvision&#8217;s laser based bar code scanner which incorporates
        Microvision&#8217;s core MEMS scanning mirror technology. The agreement is
        accompanied by an initial purchase order. Brightpoint is a global
        leader in the distribution of wireless devices and provider of
        customized logistics services to the wireless industry. Brightpoint
        handled roughly 83 million mobile devices last year, totaling $4.3
        billion in revenue. Brightpoint&#8217;s clients include such global
        companies as Nokia, Motorola, AT&amp;T, Sprint, Cingular, HTC, and Verizon.
      </li>
    </ul>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Financial Results</b>
    </p>
    <p>
      For the three months ended March 31, 2008, the company reported revenue
      of $2.6 million compared to $2.2 million for the same period in 2007. As
      of March 31, 2008, the backlog totaled $1.9 million compared to $6.9
      million at March 31, 2007. The decrease in backlog from 2007 is
      primarily attributed to completion of government and commercial
      development contracts in 2007 and early 2008. Many of the company&#8217;s
      customers are currently using the deliverables that resulted from these
      contracts to market Microvision&#8217;s PicoP technology to their customers
      with the goal of determining the next steps in the commercialization
      process.
    </p>
    <p>
      The company reported an operating loss for the quarter ended March 31,
      2008 of $7.1 million compared to $6.0 million for the same period in
      2007. The increase is primarily attributable to increased headcount in
      Research and Development (R&amp;D), Strategic Sourcing, and Business
      Development and other R&amp;D costs as the company prepares for initial
      commercial introduction of the accessory product.
    </p>
    <p>
      The company reported a net loss of $5.0 million for the quarter ended
      March 31, 2008 compared to $6.9 million for the same period in 2007. The
      net loss per share was $0.09 for the quarter ended March 31, 2008
      compared to $0.16 for the same period in 2007.
    </p>
    <p>
      Net cash used in operating activities was $5.3 million for the quarter
      ended March 31, 2008 compared to $5.6 million for the same period in
      2007. The company ended the quarter with $30.1 million in cash, cash
      equivalents, and investment securities.
    </p>
    <p>
      <b>Conference Call</b>
    </p>
    <p>
      Microvision will host a conference call to discuss its first quarter
      2008 results and current business operations at 4:30 p.m. ET on April
      24, 2008. Participants may join the conference call by dialing (888)
      679-8038 (for U.S. participants) or (617) 213-4850 (for International
      participants) ten minutes prior to the start of the conference. The
      conference pass-code number is 37762842. Additionally, the call will be
      broadcast over the Internet and can be accessed from the Company&#8217;s web
      site at <u>www.microvision.com</u>. The web cast and information needed
      to access the telephone replay will be available through the same link
      following the conference call.
    </p>
    <p>
      <b>About Microvision (<u>www.microvision.com</u>)</b>
    </p>
    <p>
      Microvision is creating a display technology platform which is expected
      to enable next-generation display and imaging products for pico
      projectors, vehicles displays, and wearable displays that interface to
      mobile devices. The company also manufactures and sells its bar code
      scanner product line which features the company's proprietary MEMS
      technology.
    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward Looking Statement</b>
    </p>
    <p>
      Certain statements contained in this release, including those relating
      to future product introductions, applications, business partnering
      expectations, sales, growth and business prospects, as well as
      statements containing words like &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;target,&#8221; &#8220;plan,&#8221;
      &#8220;believe,&#8221; and other similar expressions, are forward-looking statements
      that involve a number of risks and uncertainties. Factors that could
      cause actual results to differ materially from those projected in the
      Company's forward-looking statements include the following: our ability
      to raise additional capital when needed; the risk of market acceptance
      of our technology and products, our financial and technical resources
      relative to those of our competitors; our ability to keep up with rapid
      technological change; our ability to enforce our intellectual property
      rights and protect our proprietary technologies; the timing of
      commercial product launches and delays in product development; the
      ability to achieve key technical milestones in key products; our ability
      to secure needed third party manufacturing and sales resources,
      dependence on third parties to develop, manufacture, sell and market our
      products; potential product liability claims and other risk factors
      identified from time to time in the Company's SEC reports, including the
      Company's Annual Report on Form 10-K filed with the SEC. Except as
      expressly required by the federal securities laws, we undertake no
      obligation to publicly update or revise any forward-looking statements,
      whether as a result of new information, future events, changes in
      circumstances or any other reason.
    </p>
    <table style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Microvision, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Balance Sheet</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(In thousands)</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          March 31,
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          December 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: center; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          2008
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: center; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          2007
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current Assets
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          14,593
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          13,399
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Investment securities, available-for-sale
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          15,500
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          22,411
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accounts receivable, net of allowances
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          722
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,885
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Costs and estimated earnings in excess of billings on uncompleted
          contracts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          274
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          443
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Inventory
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,336
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          761
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          1,327
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          1,180
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          33,752
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          40,079
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3,919
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,047
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Restricted investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,475
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,125
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          50
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          47
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 25.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          39,196
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          45,298
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Liabilities and Shareholders' Equity</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Current Liabilities
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,478
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,146
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,190
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,154
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Billings in excess of costs and estimated earnings on uncompleted
          contracts
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          275
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          970
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Liability associated with common stock warrants
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          921
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,657
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 15.0px" valign="top">
          Current portion of capital lease obligations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          43
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          44
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Current portion of long-term debt
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          66
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          65
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7,973
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          10,036
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Capital lease obligations, net of current portion
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          77
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          88
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Long-term debt, net of current portion
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          376
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          393
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Deferred rent, net of current portion
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          1,643
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          1,720
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 40.0px" valign="top">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          10,069
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          12,237
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Commitments and contingencies
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Shareholders' Equity
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Common stock at par value
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          57
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          293,440
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          292,374
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accumulated other comprehensive income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          89
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          51
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Accumulated deficit
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          (264,459
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          (259,421
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="top">
          Total shareholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          29,127
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          33,061
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Total liabilities and shareholders' equity
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          39,196
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          45,298
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    <p>

    </p>
    <div style="margin-right: 0pt; width: 100%; margin-left: 0pt; margin-bottom: 10pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <table style="font-size: 8pt; width: 100%; margin-bottom: 10.0px; font-family: Times New Roman" cellspacing="0">
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Microvision, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Statement of Operations</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(In thousands, except earnings per share data)</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="text-align: center; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="top">
          Three months ended March 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: center; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          2008
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: center; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          2007
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Contract revenue
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,281
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,902
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Product revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          289
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          333
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Total revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          2,570
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          2,235
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Cost of contract revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          762
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,010
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Cost of product revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          339
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          284
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Total cost of revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          1,101
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          1,294
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 15.0px" valign="top">
          Gross margin
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          1,469
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          941
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Research and development expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,426
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3,345
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Sales, marketing, general and administrative expense
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          4,135
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          3,550
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 40.0px" valign="top">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          8,561
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          6,895
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Loss from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (7,092
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (5,954
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          412
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          182
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Interest expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (13
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (468
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          Gain (loss) on derivative instruments, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,673
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (652
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          Other expense
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          (18
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: solid black 1.0pt; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Net loss
          </p>
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          (5,038
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          (6,892
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Net loss per share - basic and diluted
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          (0.09
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          (0.16
        </td>
        <td style="white-space: nowrap; text-align: left; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          Weighted-average shares outstanding - basic and diluted
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          56,730
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="white-space: nowrap; text-align: right; padding-right: 0.0px; border-bottom: double black 2.25pt; padding-left: 0.0px" valign="bottom">
          43,098
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    <p>

    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Microvision, Inc.<br>Media:<br>Matt Nichols, 425-882-6657<br>or<br>Investors:<br>Tiffany
      Bradford, 425-936-6847
    </p>
    <p style="text-align: right">

    </p>
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</SEC-DOCUMENT>
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