<SEC-DOCUMENT>0001157523-14-001915.txt : 20140506
<SEC-HEADER>0001157523-14-001915.hdr.sgml : 20140506
<ACCEPTANCE-DATETIME>20140506080727
ACCESSION NUMBER:		0001157523-14-001915
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140506
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140506
DATE AS OF CHANGE:		20140506

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:	001-34170
		FILM NUMBER:		14815410

	BUSINESS ADDRESS:	
		STREET 1:		6244 185TH AVE NE
		CITY:			REDMOND
		STATE:			WA
		ZIP:			98052
		BUSINESS PHONE:		425-936-6847

	MAIL ADDRESS:	
		STREET 1:		6244 185TH AVE NE
		CITY:			REDMOND
		STATE:			WA
		ZIP:			98052
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50858430.htm
<DESCRIPTION>MICROVISION, INC. 8-K
<TEXT>
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    <p style="text-align: center">
      <br>
      <font style="font-size: 14pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 14pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 14pt"></font><font style="font-size: 14pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 14pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><font style="font-size: 12pt"><b>Pursuant to
      Section 13 or 15(d) of</b></font><br><font style="font-size: 12pt"><b>the
      Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report (Date of earliest event reported): </font><font style="font-size: 10pt; font-family: Times New Roman"><b>May
      6, 2014</b></font><br><font style="font-family: Times New Roman"><b>______________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 14pt"><b>MICROVISION, INC.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      Name of Registrant as Specified in Charter)</font><br><br>
    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-bottom: 10.0px; margin-left:auto;margin-right:auto; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>001-34170</b>
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>91-1600822</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <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 valign="top" style="padding-left: 0.0px; text-align: center; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer Identification
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-align:center">
    <table cellspacing="0" style="margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt"><b>6244 185</b></font><b><sup><font style="font-size: 10pt">th</font></sup><font style="font-size: 10pt">
            Avenue NE, Suite 100</font><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-size: 10pt">Redmond,
            Washington 98052</font></b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices) (Zip Code)</font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <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>
    <hr style="height: 1.0 pt; text-align: center; color: #000000; width: 100%">


    <p>

    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <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="white-space: nowrap">
      <b>Item 2.02. &#160;Results of Operations and Financial Condition.</b>
    </p>
    <p>

    </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.&#160;&#160;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.
    </p>
    <p>

    </p>
    <p>
      On May 6, 2014, MicroVision, Inc. issued a press release announcing its
      First Quarter 2014 operating results.&#160;&#160;A copy of the press release is
      attached as Exhibit 99.1 and is incorporated herein by reference.
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;Financial Statements, Pro Forma Financial Information and
      Exhibits.</b>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td style="width: 5%">
          &#160;
        </td>
        <td colspan="3" valign="top" style="padding-left: 0.0px; text-align: left">
          (c) <i>Exhibits</i>.
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 5%">
          &#160;
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; width: 5%">
          99.1
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 85%">
          MicroVision, Inc. Press Release Announces Positive First Quarter
          Operating Results.
        </td>
      </tr>
    </table>
    </div>
    <p>

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

        </div>
      </div>
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        <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">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="font-family: Times New Roman; text-indent: 30.0px; font-size: 10pt">
      <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>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt; width: 100%">
      <tr>
        <td style="width: 5%">

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

        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            MICROVISION, INC.
          </p>
        </td>
      </tr>
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        <td style="width: 5%">

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

        </td>
        <td colspan="2" valign="top" style="padding-left: 0.0px; text-align: left">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

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

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

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

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

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 5%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            David J. Westgor
          </p>
        </td>
      </tr>
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        <td style="width: 5%">

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

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 5%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: center; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i>Vice President, General Counsel &amp; Secretary</i>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 5%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="padding-left: 0.0px; text-align: left; width: 45%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            May 6, 2014
          </p>
        </td>
        <td style="width: 5%">

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

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

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50858430_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>MicroVision
      Announces Positive First Quarter 2014 Operating Results</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>Development
      Phase with Fortune Global 100 Nears Successful Completion; Cash Use and
      Operating Expenses Reduced Year-Over-Year as Company Prepares for Volume
      Production</b></font></i>
    </p>
    <p>
      REDMOND, Wash.--(BUSINESS WIRE)--May 6, 2014--MicroVision, Inc.
      (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display
      technology, today announced its operating and financial results for the
      first quarter of 2014 and the advancement of its 2014 business
      objectives.
    </p>
    <p>
      MicroVision made strong progress in the first quarter related to its
      operating goals for 2014. The goals for the year include:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Complete display module development with Fortune Global 100 customer,
        support customer with commercialization efforts and supply key
        components
      </li>
      <li style="margin-bottom: 10.0px">
        Build pipeline of consumer and automotive OEM opportunities for
        MicroVision&#8217;s go-to-market partners that are providing display engines
        incorporating PicoP<sup>&#174;</sup> display technology
      </li>
      <li style="margin-bottom: 10.0px">
        Ramp supply chain for high volume production of MicroVision components
        in the second half of 2014.
      </li>
    </ul>
    <p>
      MicroVision&#8217;s Fortune Global 100 customer announced in February that it
      aims to bring a high resolution, HD image quality display module to
      market for use in pico projectors and other devices with projector
      functionality. MicroVision is supporting development of the display
      module which is based on laser scanning beam methodology and
      incorporates MicroVision&#8217;s patented PicoP display technology. To date
      MicroVision has successfully completed the majority of milestones
      defined in the April 2013 development agreement and has received 90
      percent of related payments. In the second quarter MicroVision expects
      to complete development work and support the Fortune Global 100 customer
      in planning and execution for commercialization activities.
    </p>
    <p>
      MicroVision has continued to build a pipeline of opportunities from OEMs
      for consumer products and automotive solutions that incorporate PicoP
      display technology. MicroVision is focusing its business development
      activities across the full spectrum of companies required to bring
      products enabled by PicoP display technology to market. In addition to
      direct customers that will manufacture display engines for use in their
      own products or for sale to other parties, MicroVision is engaged with a
      broad coalition of companies including engine manufacturers, consumer
      product OEMs and major retailers to enable the pico projector product
      ecosystem.
    </p>
    <div style="margin-right: 0pt; margin-bottom: 10pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <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>
      As part of this effort, MicroVision has produced numerous prototype
      end-user consumer products to demonstrate the superior performance of a
      pico projector built around PicoP display technology and completed
      direct consumer studies to give OEMs and retailers an idea of the types
      of products they could offer. PicoP display technology can enable an end
      user experience with features and functions such as high definition,
      always in focus images and laser brightness that are optimal for the
      mobile video consumption that research shows consumers are now making
      part of their regular infotainment routine.
    </p>
    <p>
      According to the Global Video Index Q4 2013 report from Ooyala, the
      year-over-year share of time spent watching videos on tablets and mobile
      devices has increased 719 percent since fourth quarter 2011, and 160
      percent year-over-year since fourth quarter 2012. The report also
      revealed that in the fourth quarter of 2013 more than half of mobile
      viewers&#8217; time was spent watching video longer than 30 minutes compared
      to 35 percent for tablet viewers.
    </p>
    <p>
      In the automotive segment, MicroVision continues its collaboration with
      a Tier One global supplier and a leading global vehicle OEM. MicroVision
      expects to deliver a prototype HUD system to the vehicle OEM in the
      second quarter. These programs are in the evaluation and test phases,
      critical steps to having new technology adopted in embedded automotive
      applications.
    </p>
    <p>
      MicroVision also announced in March 2014 that it has agreed to supply
      customized PicoP display modules to UPS to outfit a distribution
      facility in the United States. The PicoP display modules will be part of
      a new package guidance application aimed at increasing processing
      efficiency in real-time package sorting and routing. MicroVision expects
      to deliver the modules to UPS in the third quarter.
    </p>
    <p>
      The company has been working with world class partners to put in place
      the supply chain required for volume production of its key components in
      the second half of 2014. The company has dedicated resources toward
      ramping the supply chain to fulfill future orders from engine partners
      in order to facilitate the company&#8217;s go-to-market plan for
      commercialization of PicoP display technology.
    </p>
    <p>
      <b>Financial Update</b>
    </p>
    <p>
      During the first quarter, MicroVision raised $12.8 million net of
      issuance costs in an offering of common stock and warrants for general
      corporate purposes. MicroVision has continued its aggressive management
      of cash used in operations with a reduction in the quarter of 16 percent
      compared to the same period in 2013.
    </p>
    <p>
      The following financial results are for the three months ended March 31,
      2014, compared to the three months ended March 31, 2013.
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue was $1.2 million, primarily from the Fortune Global 100
        development activities, compared to $1.8 million a year ago.
      </li>
      <li style="margin-bottom: 10.0px">
        Operating loss decreased to $3.1 million, compared to $3.6 million for
        the same quarter a year ago.
      </li>
      <li style="margin-bottom: 10.0px">
        Net loss was $8.0 million, or $0.23 per share, compared to $3.7
        million, or $0.14 per share for the same quarter a year ago. The first
        quarter 2014 net loss includes a $5.0 million loss recognized on the
        fair value adjustment of our warrant liability that occurred upon the
        exchange of the warrants for common stock during the period. Excluding
        the loss related to the fair value adjustment of the warrant
        liability, the adjusted net loss for the three months ended March 31,
        2014 was $3.1 million.
      </li>
      <li style="margin-bottom: 10.0px">
        Cash used in operations was $2.9 million during the quarter ended
        March 31, 2014, compared to $3.5 million for the first quarter of 2013.
      </li>
    </ul>
    <p>
      As of March 31, 2014, backlog was $ 1.6 million and cash and cash
      equivalents were $15.3 million.
    </p>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <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>Conference Call</b>
    </p>
    <p>
      The company will host a conference call today to discuss its first
      quarter 2014 results and current business operations at 8:30 a.m. ET /
      5:30 a.m. PT. Participants may join the conference call by dialing 1 800
      446-1671 (for U.S. participants) or + 1-847-413-3362 (for international
      participants) ten minutes prior to the start of the call. The conference
      call pass code number is 37176414. A live webcast of the call can be
      accessed from the company's web site in the Investor Events Calendar
      section on the Investor&#8217;s page. A replay of this call will be available
      after 8:00 a.m. PT the day of the conference call through the same link
      or by calling 888-843-7419 (U.S.) or (International) +1-630-652-3042,
      pass code 37176414#. The phone in replay will be available for one week.
    </p>
    <p>
      <b>About MicroVision</b>
    </p>
    <p>
      MicroVision is the creator of PicoP&#174; display technology, an
      ultra-miniature laser projection solution for mobile consumer
      electronics, automotive head-up displays and other applications.
      MicroVision&#8217;s patented display technology helps OEMs break down display
      boundaries and offer enhanced visibility to mobile experiences. Nearly
      two decades of research has led MicroVision to become an independently
      recognized leader in the development of intellectual property.
      MicroVision&#8217;s IP portfolio has been recognized by the Patent Board as a
      top 50 IP portfolio among global industrial companies and is also
      included in the Ocean Tomo 300 Patent Index. The company is based in
      Redmond, Wash.
    </p>
    <p>
      For more information, visit the company&#8217;s website at <u>www.microvision.com</u>,
      on Facebook at <u>www.facebook.com/MicroVisionInc</u> or follow
      MicroVision on Twitter at @MicroVision.
    </p>
    <p>
      <i>MicroVision and PicoP are trademarks of MicroVision, Inc. in the
      United States and other countries. All other trademarks are the
      properties of their respective owners.</i>
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      Certain statements contained in this release, including those relating
      to growth, future product and technology development and sales, and
      those containing words such as &#8220;goals,&#8221; &#8220;aims,&#8221; &#8220;expects,&#8221; and &#8221;can&#8221; 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; products incorporating our PicoP display engine may
      not achieve market acceptance, commercial partners may not perform under
      agreements as anticipated, we may be unsuccessful in identifying parties
      interested in paying any amounts or amounts we deem desirable for the
      purchase or license of IP assets, our or our customers failure to
      perform under open purchase orders; our financial and technical
      resources relative to those of our competitors; our ability to keep up
      with rapid technological change; government regulation of our
      technologies; our ability to enforce our intellectual property rights
      and protect our proprietary technologies; the ability to obtain
      additional contract awards; the timing of commercial product launches
      and delays in product development; the ability to achieve key technical
      milestones in key products; 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 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>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <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>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; width: 100%">
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <b>MicroVision, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <b>Balance Sheet</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <b>(In thousands)</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          (Unaudited)
        </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" valign="top" style="padding-left: 0.0px; text-align: center">
          March 31,
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>2014</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>2013</u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

        </td>
        <td>

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

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          15,338
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          5,375
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          135
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          24
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          49
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          49
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          256
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          336
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; text-align: left">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          15,778
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          5,784
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          924
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,065
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          435
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          435
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Intangible assets, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,112
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,145
        </td>
        <td>

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

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          18
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 25.0px; padding-bottom: 4.0px; text-align: left">
          Total assets
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          18,267
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          8,447
        </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>

        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

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

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

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

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

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,369
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,610
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          2,700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          2,455
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          347
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          680
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          4,902
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          5
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          15
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 40.0px; text-align: left">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          4,421
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          9,662
        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Deferred rent, net of current portion
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          533
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          481
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          4,954
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          10,143
        </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 valign="top" style="padding-left: 0.0px; text-align: left">
          Commitments and contingencies
        </td>
        <td>

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

        </td>
        <td>

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

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 20.0px; text-align: left">
          Common stock at par value
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          32
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          471,997
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          448,981
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          (458,727
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          (450,709
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 30.0px; padding-bottom: 2.0px; text-align: left">
          Total shareholders' equity (deficit)
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          13,313
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          (1,696
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left">
          Total liabilities and shareholders' equity (deficit)
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          18,267
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          8,447
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt; width: 100%">
      <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>
<div style="text-align:left">
    <table cellspacing="0" style="margin-bottom: 10.0px; font-family: Times New Roman; font-size: 8pt; width: 100%">
      <tr>
        <td colspan="9">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <b>MicroVision, Inc.</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <b>Statement of Operations</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          <b>(In thousands, except earnings per share data)</b>
        </td>
      </tr>
      <tr>
        <td colspan="9" valign="top" style="padding-left: 0.0px; text-align: center">
          (Unaudited)
        </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" valign="top" style="padding-left: 0.0px; text-align: center">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Three months ended March 31,</u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>2014</u>
          </p>
        </td>
        <td>

        </td>
        <td colspan="3" valign="bottom" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>2013</u>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,193
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          300
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          9
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,219
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          17
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          282
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Total revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          1,219
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          1,801
        </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 valign="top" style="padding-left: 0.0px; text-align: left">
          Cost of product revenue
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          664
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          9
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          137
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Total cost of revenue
        </td>
        <td>

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

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          801
        </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 valign="top" style="padding-left: 15.0px; padding-bottom: 2.0px; text-align: left">
          Gross margin
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          1,220
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          1,000
        </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 valign="top" style="padding-left: 0.0px; text-align: left">
          Research and development expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          2,543
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          2,252
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          1,959
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          2,403
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; text-align: left">
          Gain on disposal of fixed assets
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          (2
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left">
          Gain on sale of previously reserved inventory
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          (227
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          (5
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          4,275
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt">
          4,648
        </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 valign="top" style="padding-left: 0.0px; text-align: left">
          Loss from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          (3,055
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          (3,648
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap">
          (4,967
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap">
          )
        </td>
        <td>

        </td>
        <td>

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

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

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

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

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          (8,018
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          (3,654
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          (0.23
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          )
        </td>
        <td>

        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          $
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          (0.14
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          34,842
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt">
          25,240
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>MicroVision, Inc.<br>Dawn Goetter, 425-882-6629 (investors)<br><u>ir@microvision.com</u><br>or<br>For
      MicroVision, Inc.<br>Robert Brown, 424-248-0512 (media/PR)<br><u>robert@bohle.com</u>
    </p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
