Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 148

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 148
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 payable, current and notes payable, net of current portion on the condensed consolidated
balance sheets.

Notes
Payable

Subsequent
to the modification, the host contract is recorded at the total amount repayable at maturity of $36.0 million, less any unamortized debt
discount. The debt discount is equal to the amount repayable at maturity, net of the initial fair value of the bifurcated derivative
liability. There were no material qualifying debt issuance costs resulting from the modification.

    14

Supplemental
balance sheet information is as follows:

 SCHEDULE
OF SUPPLEMENT BALANCE SHEET

    September 30,  
    December 31, 
  
    (in thousands) 
    2025  
    2024 
  
    Amount repayable at maturity 
    $30,525  
    $47,575 
  
    Unamortized debt discount 
     (1,562) 
     (12,021)
  
    Unamortized issuance costs 
     -  
     (2,552)
  
    Net carrying amount 
    $28,963  
    $33,002 

Interest
expense related to the amortization of the debt discount and issuance costs was $2.2 million and $0.0 million for the three months ended
September 30, 2025 and 2024, respectively, and $7.9 million and $0.0 million for the nine months ended September 30, 2025 and 2024, respectively.
Total interest expense for the three and nine months ended September 30, 2025 and 2024 is comprised of the following components:

 SCHEDULE OF COMPONENTS INTEREST EXPENSE

    (in thousands) 
    2025  
    2024  
    2025  
    2024 

    Three Months Ended September 30,  
    Nine Months Ended September 30, 
  
    (in thousands) 
    2025  
    2024  
    2025  
    2024 
  
    Amortization of debt discount and issuance costs 
    $(2,191) 
    $-  
    $(7,858) 
    $- 
  
    Interest expense from modification of notes payable 
     -  
     -  
     (2,057) 
     -