Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 43

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 3
Chunk 43
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 operations to pay principal on
                                            the convertible note and any additional convertible notes issued under the securities purchase
                                            agreement, which would reduce funds available to us for other purposes such as working capital,
                                            capital expenditures, potential acquisitions and other general corporate purposes;

●we
                                            may be unable to comply with financial and other covenants related to the convertible note,
                                            which could result in an event of default that, if not cured or waived, may result in acceleration
                                            of the note and any additional convertible notes issued under the securities purchase agreement
                                            and would have an adverse effect on our business and prospects, could cause us to lose the
                                            rights to our intellectual property, and could force us into bankruptcy or liquidation;

●the
                                            conversion of the convertible note and any additional convertible notes issued under the
                                            securities purchase agreement could result in significant dilution of our common stock, which
                                            could result in significant dilution to our existing stockholders and cause the market price
                                            of our common stock to decline; and

●we
                                            may be more vulnerable to an economic downturn or recession and adverse developments in our
                                            business.

There
can be no assurance that we will be able to manage any of these risks successfully.

32

Our
obligations to the holder pursuant to the October 2024 convertible note, and any additional convertible notes, are secured by a security
interest in all of our bank and securities accounts, now owned and hereafter created or acquired, and if we default on those obligations,
the holder could foreclose on our bank and securities accounts.

Our
obligations under the convertible note, and any additional convertible notes issued pursuant to the October 2024 securities purchase
agreement, and the related transaction documents, are secured by a security interest in all of our bank and securities accounts, now
owned and hereafter created or acquired. As a result, if we default on our obligations under the convertible note, or any additional
convertible notes, the collateral agent on behalf of the holder could foreclose on the security interests and liquidate some or all of
our bank and securities accounts, which would harm our business, financial condition and results of operations and could require us to
reduce or cease operations and investors may lose all or part of your investment.

Risks
Related to Our Operations

Difficulty
in qualifying a contract manufacturer, Tier 1 partner, or foundry for our products, or experiencing challenges in our supply chain, could
cause delays that may result