Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 40

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 40
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 significant assumptions.

●Testing
                                            the mathematical accuracy of management’s calculations.

●Testing
                                            the completeness, accuracy and reliability of the underlying data used in the estimate, such
                                            as historical volatility, stock price, and daily trading volume.

Impairment
of Intangible Assets

As
described in notes 2 and 8 to the consolidated financial statements, intangible assets are reviewed for impairment whenever events or
changes in circumstances indicate the carrying value may not be recoverable. Recoverability of these assets is measured by comparison
of their carrying values to the projected undiscounted net cash flows associated with the related intangible assets or group of assets
over their remaining lives. Measurement of an impairment loss for intangible assets is based on the difference between the fair value
of the asset and its carrying value. The carrying value of intangible assets was $11.0 million as of December 31, 2024.

We
identified the impairment assessment of intangible assets as a critical audit matter. Performing audit procedures to evaluate the significant
assumptions used by management when developing the undiscounted cash flows to be generated by the assets required a high degree of auditor
judgment, subjectivity and effort when performing and evaluating the results of those procedures.

Addressing
the matter involved performing procedures and evaluating audit evidence in connection with forming an overall opinion on the consolidated
financial statements. Our audit procedures related to the matter included the following, among others:

●Testing
                                            management’s process for developing the estimated future undiscounted cash flows used
                                            in the impairment assessment.

●Evaluating
                                            the appropriateness of the undiscounted cash flows model.

●Testing
                                            the completeness and accuracy of the underlying data used in the model.

●Evaluating
                                            the reasonableness of the significant assumptions used by management related to estimated
                                            future undiscounted cash flows.

●Evaluating
                                            management’s ability to forecast cash flows by comparing actual results to management’s
                                            historical forecasts.

/s/
Moss Adams

Seattle,
Washington

March 26, 2025

We
have served as the Company’s auditor since 2012.

33

MicroVision,
Inc.

Consolidated
Balance Sheets

(In
thousands, except per share data)

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Assets 

    Current assets 

    Cash and cash