Agreed; Chapter11 bankruptcy is the only and best course.
MVIS is paralyzed by debt and without being able to jettison some of that debt, they are set to collapse under it. They lost a lot of top people, the former CEO finally giving in to stark reality by resignation.
They'll be able to break up and self off key assets along with certain parts of the company that are more lucrative than others, thus giving shareholders something in return.
Some good news historically. Myself and a few others here were present for the last RS a few years back and MVIS fared pretty well immediately following, but acquiesced to gravity several months later, then continued its descent to 16 cents or so.
It is what it is, and historically speaking, it's headed for a repeat. I suspect Chapter 11 news prior to year's end.
Red flags! One after another.
Senior engineers at Microvision leave to go to Microsoft.
Senior engineers at Microvision leave to go to Microsoft.
It kind of odd they all went to Microsoft. If they left and went to different companies I would agree it is a red flag, but they all went to Microsoft. Must be some type of collaboration between the two companies. To me, that's a green flag.
Virtually ZERO insider stock holdings
So there are some insiders that hold stock? Have they sold shares or still holding what they bought?
BOD former CEO leaves mid merger.
No red flag here. It is all explained in their PR. People do get sick and leave sometimes. Look at Steve Jobs. He left Apple twice for health reasons.