Company: MVIS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009765
Chunk: 213

Company: MICROVISION, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 213
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    2024  
    $
    change  
    %
    change 
  
    Three Months Ended March 31, 
    $1,761  
    $-  
    $1,761  
     - 

Unrealized
gain on warrant liability reflects the revaluation of our warrant liability as of March 31, 2025. Due to the decrease in the fair
value of the warrant liability as of March 31, 2025, we recognized an unrealized gain. See Part I, Item 1, Note 7. Warrant Liability
for additional discussion.

Realized
loss on debt extinguishment

    (in
    thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended March 31, 
    $(4,654) 
    $-  
    $(4,654) 
     - 

As
a result of the debt modification during the three months ended March 31, 2025, we recognized a loss on extinguishment of notes payable.
See Part I, Item 1, Note 6. Notes Payable and Derivative Liability for additional discussion.

24

Liquidity
and Capital Resources

We
have incurred significant losses since inception. We have funded operations to date primarily through the sale of common stock, convertible
preferred stock, warrants, the issuance of convertible debt and, to a lesser extent, from development contract revenues, product sales,
and licensing activities. As of March 31, 2025, we had $51.9 million in cash and cash equivalents and $17.1 million in short-term investment
securities. We also have approximately $113.4 million availability left on our existing $150.0 million ATM facility that was put in place
in the first quarter of 2024, although sales under the ATM facility require sufficient authorized capital. In addition, we have a remaining commitment pursuant to the convertible note facility of $30.0 million, subject to
certain limitations. Based on our current operating plan, we anticipate that we have sufficient cash and cash equivalents to
fund our operations for at least the next 12 months.

Operating
activities

Cash
used in operating activities totaled $14.1 million during the three months ended March 31, 2025 compared to cash used in operating
activities of $20.8 million during the same period in 202