Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 73

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 73
---
’s Reference software intangible
asset was less than its carrying amount as of June 30, 2024. As of June 30, 2024, prior to impairment, the fair value was $4.5 million.
As a result, the Company performed an impairment assessment for intangibles in accordance with ASC 360, Property, Plant and Equipment.
The June 30, 2024 impairment test indicated a decline in the carrying amount of the Reference software intangible asset and a reduction
in the asset’s useful life, resulting in a non-cash impairment charge of $3.0 million.

As
part of the Company’s annual impairment assessment, management identified further factors that indicated
the Company’s Reference software intangible asset is more-likely-than-not fully impaired. As of December 31, 2024, prior to impairment,
the fair value was $1.2 million. An additional non-cash impairment charge of $1.2 million was recorded, resulting in a combined non-cash
impairment charge of $4.2 million that is included in impairment loss on intangible assets on the consolidated statement of operations.
As of December 31, 2024, the fair value of Reference software is fully written off.

    52

The
following table outlines estimated future amortization expense related to intangible assets held as of December 31, 2024 (in thousands):

 SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS 

    Research and  

    Cost of  
    Development  

    Years Ended December 31, 
    Revenue  
    Expense  
    Total 
  
    2025 
    $869  
             54  
    $923 
  
    2026 
     869  
     27  
     896 
  
    2027 
     829  
     1  
     830 
  
    2028 
     825  
     -  
     825 
  
    2029 
     825  
     -  
     825 
  
    Thereafter 
     6,673  
     -  
     6,673 
  
    Total 
    $10,890  
    $82  
    $10,972 

Accrued
Liabilities

Accrued
liabilities consists of the following (in thousands):