| Ticker: MVIS | 2203 Airport Way, Suite 100 | |
| Exchange: NASDAQ-National Market | Seattle, Washington | |
| Industry: High-Tech | (206) 623-7055 |
| Type of Shares: | Common Shares | Filing Date: | 7/15/96 | |
| U.S. Shares: | 2,250,000 | Offer Date: | 8/27/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 2,250,000 | Offer Price: | $8.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.61 | |
| Offering Amount: | $20,250,000 | Selling: | $0.32 | |
| Expenses: | $1,065,000 | Reallowance: | $0.10 | |
| Shares Out After: | 5,461,546 |
| Manager | Tier | Phone |
| Paulson Investment Company, Inc. | Lead Manager | (503) 243-6000 |
| Marion Bass Securities Corporation | Co-manager | (800) 241-9021 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $0.03 | $0.03 | $0.00 | Assets: | $0.70 |
| Net Income: | -$2.94 | -$0.62 | -$0.53 | Liabilities: | $0.58 |
| EPS: | -$0.62 | -$0.13 | -$0.11 | Equity: | $0.11 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is developing information display technologies that allow electronically generated images and information to be projected directly onto the retina of the viewer's eye. The company has developed prototype virtual retinal display devices, including a hand-held monochrome version and a table top, full-color version, and is currently refining and developing its VRD technology for commercial applications. The company expects to commercialize its technology through the development of products and as a supplier of personal display technology to original equipment manufacturers. The company believes the VRD technology will be useful in a variety of applications, including portable communication devices, visual simulation and entertainment displays and devices that superimpose images on the user's field of vision. The company expects that its technology will permit the use of highly miniaturized, light weight, battery-operated, viewing devices that can be comfortably held or worn as "headphones for the eyes." |
| Use of Proceeds |
| The proceeds from the proposed offering will be used primarily for research and product development, including payments to be paid under a licensing agreement, purchase and installation of certain laboratory equipment and facilities, repayment of up to $750,000 of the company's 7% Convertible Subordinated Notes due 1997 unless converted, and for working capital. |
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