MicroVision Receives Nasdaq Global Market Listing Deficiency Notice
December 31 2018 - 8:00AM
MicroVision, Inc. (Nasdaq: MVIS) announced today that it received a
notice on December 28, 2018 from The Nasdaq Stock Market advising
the company that for 30 consecutive business days preceding the
date of the notice, the bid price of the company’s common stock had
closed below the $1.00 per share minimum required for continued
listing on The Nasdaq Global Market pursuant to Nasdaq’s listing
requirements. In accordance with Nasdaq’s listing rules, the
company has 180 calendar days, or until June 26, 2019, to regain
compliance with this requirement. This notification is simply a
notice of deficiency, not of imminent delisting, and has no current
effect on the listing or trading of MicroVision’s common stock on
The Nasdaq Global Market at this time.
During the 180-day compliance period, MicroVision can regain
compliance if the bid price of its common stock closes at $1.00 or
higher for a minimum of ten consecutive business days. If the
company does not regain compliance by June 26, 2019, Nasdaq will
notify the company that its securities are subject to
delisting.
The company is monitoring the bid price for its common stock.
The company continues to execute its business plan and will
consider other actions that it may take in order to regain
compliance with the listing requirements.
About MicroVision
MicroVision is the creator of PicoP® scanning technology, an
ultra-miniature sensing and projection solution based on the laser
beam scanning methodology pioneered by the company. MicroVision’s
platform approach for this sensing and display solution means that
its technology can be adapted to a wide array of applications and
form factors. We combine our hardware, software, and algorithms to
unlock value for our customers by providing them a differentiated
advanced solution for a rapidly evolving, always-on world.
Extensive research has led MicroVision to become an
independently recognized leader in the development of intellectual
property. MicroVision’s IP portfolio has been recognized by the
Patent Board as a top 50 IP portfolio among global industrial
companies and has been included in the Ocean Tomo 300 Patent Index.
The company is based in Redmond, Washington.
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.
Forward-looking Statements
Certain statements contained in this release, including those
relating to MicroVision’s expectations, intentions or strategies,
are forward-looking statements that involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those projected in
our forward-looking statements include the following: the risk that
MicroVision may not regain compliance with the continued listing
standards of the Nasdaq Stock Market; capital market risks; our
ability to raise additional capital when needed; market acceptance
of our technologies and products, and for products incorporating
our technologies; the failure of our commercial partners to perform
as expected under our agreements; our ability to identify parties
interested in paying any amounts or amounts we deem desirable for
the purchase or license of intellectual property 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 and to develop partnership opportunities; 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. These factors are not intended to represent a
complete list of the general or specific factors that may affect
us. It should be recognized that other factors, including general
economic factors and business strategies, may be significant, now
or in the future, and the factors set forth in this release may
affect us to a greater extent than indicated. 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. Additional
Information Additional information relating to MicroVision
can be found on EDGAR at www.sec.gov.
Contact:
Ted Moreau Darrow Associates, Inc. 608.298.7369
tmoreau@darrowir.com
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