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$EMAN (NYSE) - eMagin Corporation


eMagin Corp. Headquarters
Bellevue, Washington, USA. 
Founded: 1993

GREAT DD on eMagin & Partner Elbit's CHMD Contract
eMagin's new US helicopter program is likely Elbit's Common Helmet Mounted Display (CHMD) supporting the U.S. Army's CH-47F Chinook and UH-60L/M/V Black Hawk

 

At 1Q 2020 CC on May 14,2020 eMagin announced a new US helicopter program (the current one is Apache) -

We received an order for a custom display assembly for a major U.S. Army helicopter upgrade program where we are replacing another display. Deliveries for this program are expected to begin by fourth quarter and run until 2022. We also finalized the design of a new custom display for a new U.S. helicopter helmet program and had delivered the prototypes. This is expected to be a multi-year program with the first displays shipped in Q2.

https://seekingalpha.com/article/4347536-emagin-corporation-eman-ceo-andrew-sculley-on-q1-2020-results-earnings-call-transcript?part=single

 

March 5, 2019 at 7:00 AM EST

U.S. Army Awards Elbit Systems of America Contract for Common Helmet Mounted Display

FORT WORTH, Texas, March 5, 2019 /PRNewswire/ -- Elbit Systems of America, LLC, (NASDAQ: ESLT) (TASE: ESLT), was recently awarded a five-year Indefinite Delivery/ Indefinite Quantity contract by the United States Army to provide a wide field of view Common Helmet Mounted Display (CHMD) system. Work will be performed in Fort Worth, Texas, with deliveries starting within 15 months.

This full color CHMD will be part of the U.S. Army's Air Soldier System, used by helicopter flight crews to provide day and night enhanced situational awareness and survivability in all flight conditions. It will be fully-integrated into the Elbit Systems' Helmet Display and Tracker System used onboard the U.S. Army's CH-47F Chinook and the UH-60L/M/V Black Hawk fleets.

https://cdn2.hubspot.net/hubfs/440148/2019_CHMD_Datasheet.pdf?__hstc=213507147.10b31d238688c3f9e73a0a2056ff2643.1589639245708.1589639245708.1589639245708.1&__hssc=213507147.1.1589768982624&__hsfp=3046438550&hsCtaTracking=ff215916-f9f1-42e6-b1fe-14e784a1a578%7C73ddd531-3d34-48af-8792-bf98f4fac366

 

Timelines match .

Elbit "deliveries starting within 15 months" from March 5 2019 would put the last starting delivery date as June 5, 2020 .

eMagin's "first displays shipped in Q2" (past tense) as announced on May 14, 2020. So between April 1 & May 15, 2020 .

Both are multiyear -

Elbit -" five-year Indefinite Delivery/ Indefinite Quantity contract"

eMagin - "This is expected to be a multi-year program"

 

Future - Elbit X-Sight

Bringing F-35 Technology to the Rotorcraft World

Defense-Update had the opportunity to test Elbit Systems’ brand new X-Sight helmet display system at the company’s closed exhibit at the Paris Airshow. X-Sight brings the F-35 display, and image fusion technology to cockpits of future helicopters, such as Future Attack & Reconnaissance Aircraft (FARA) and Future Vertical Lift (FVL), both families are expected to appear in the US and European market in the next decade.

https://defense-update.com/20190619_bringing-f-35-technology-to-the-rotorcraft-world.html






$EMAN: Summary of Operations (from website: http://emagin.com/)

The OLED-XL™ Advantage

eMagin is the leading manufacturer of active-matrix Organic LED (AM-OLED) microdisplays on silicon. These displays perform at low-power levels, extended temperature ranges and provide image performance not possible with LCD technologies. eMagin’s OLED Microdisplays are designed and manufactured in the U.S.A.
Management & BOD:
http://emagin.com/about/management/

Strong Management Roster:
Andrew G. Sculley, Jr. has served as the Company’s Chief Executive Officer and President from June 2008 and continues to serve as the Chief Executive Officer. From 2004 to 2008 Mr. Sculley served as the General Manager of Kodak’s OLED Systems Business Unit and Vice President of Kodak’s Display Business, where he forged a number of alliances with flat panel display manufacturers. From 2001 to 2004, he was the CFO of Kodak’s Display Business. From 2003 to 2006, he served on the Board of Directors of SK Display, a joint venture between Sanyo and Kodak to manufacture active matrix OLED displays. From 1996 to 2001 Mr. Sculley served on as the Manager of Operations, CFO and member of the Board of Directors of Kodak Japan Ltd., where he managed Distribution, Information Technologies, Legal, Purchasing and Finance. Previously, he held positions in strategic planning and finance in Eastman Kodak Company. Mr. Sculley holds an MBA from Carnegie-Mellon University and an MS in physics from Cornell University. He attended Harvard University’s International Senior Management Program while an executive at Kodak.

Mark Koch was appointed acting Chief Financial Officer on January 23, 2020 after serving as eMagin’s Vice President of Finance since October 2018, and Corporate Controller since March 2016.   He has been a financial executive and consultant for over twenty-five years. He joined eMagin from the Turtle Beach Corporation, an audio technology company providing gaming headsets, where he was the corporate controller.  Previously, Mr. Koch was a consultant with Tatum, an executive talent and strategic consulting firm providing c-suite solutions.  Mr. Koch was the principal accounting officer of Del Global Technologies Corp,  a medical imaging manufacturer with international  operations. Mr. Koch has also served as the corporate controller of SEMX Corporation a manufacturer of specialty materials and thermal management solutions.    He holds a BS from Manhattan College and is a Certified Public Accountant.
 

Dr. Amal Ghosh was appointed to Chief Technology Officer and Senior Vice President on September 30, 2018. Previously he was appointed as Senior Vice President of Research and Development since 2009 after serving as Vice President of OLED Research and Development at eMagin since 2005. Dr. Ghosh is responsible for improvising and introducing new technologies to eMagin’s microdisplay line of products, managing Government programs and Intellectual Property. Prior to joining eMagin Corporation, Dr. Ghosh was with Eastman Kodak Company involved with OLED display technology and with IBM Corporation, both at the T. J. Watson Research Center and at the Microelectronics Division, where he contributed to numerous programs involving semiconductor technology and LCD displays. In his professional career, he has numerous publications and patents to his credit. Dr. Ghosh has more than 30 years of industrial experience. In 2003 he received SID’s Special Recognition Award for his work in the field of OLEDs and FEDs. In 2009 he received the SID Mid-Atlantic Chapter award for leadership, dedication and service to the chapter and was also elected a Fellow of the society.

Dr. Ghosh was the President of SID during 2014-2016. He is presently the Past-President and member of the Board of Directors of SID. He obtained a Ph.D. degree in Physics from Massachusetts Institute of Technology, Cambridge, MA in 1985.

 


General Comments
From the DD that has been made available on $EMAN over the last couple of weeks and beyond we know that the company's tecnology has MULTIPLE applications, and they have indicated in their May 14th Conference Call that they are NOT looking for a specific partner and instead they are focusing on rolling out their NEW LINE OF DISPLAYS and fulfilling EXISTING contracts with military manufacturers and a "mystery" "TIER 1" client that has been the topic of MUCH conjecture/rumour, particularly on manufacturers in the VR sector. There has been some SOLID dot-connecting done by iHubbers, Redditors, Twitter users, etc., which has generated a lot of attention for $EMAN but has also brought SOME out of the woodwork with all sorts of predictions on $EMAN and what it will or will not become, or whether it will be engaging in some sort of partnership/M&A activity with a firm. 



Rumours Aside / What We Know:
Q1 Results & May 14th CC told investors quite clearly that $EMAN has IMPRESSIVE operations  as an independent operator and an ESSENTIAL BUSINESS during the Coronavirus Pandemic, meaning that $EMAN's operations will continue to be robust during this strange time. Moreover, $EMAN's manufacturing is based in the UNITED STATES so they are ahead of the curve in terms of "nationalising" operations, so they are well-positioned for the "COVID" and "post-COVID" world.



-$EMAN Share Structure:
 

Common stock, $.001 par value: Authorized 200,000,000 shares,
Issued 53,980,918 shares,
Outstanding 53,818,852 shares as of March 31, 2020






KEY INFO FROM Q1 2020
https://ih.advfn.com/stock-market/AMEX/emagin-EMAN/stock-news/82456647/emagin-corporation-announces-first-quarter-2020-re

--> "ONLY US Manufacturer of microdisplays"
--> "Consumer, Medical, and Military customers are increasingly turning to eMagin"
--> Technology has "higher brightness" (more 'nits') than any other competitor -- even with more rudimentary versions
--> $5.6 Million Product Revenue (display sales) and $1.1 Million Contract R&D Work ($6.7 million total revenue)
--> "Received awards for TWO US Helicopter Helmet Programs (see below info on Lockheed Martin)
--> Year-over-year revenue increase of $100,000 in a historically BAD quarter
--> R&D Costs sliced & Operating Expenses Declined YoY 
--> Adjusted EBITDA to -$800,000 from -$1.5million in the year prior
--> Operating Expenses DOWN and booked contracts UP  with $13.3MILLION in shippable orders ready for the next 12months





MILITARY

https://ih.advfn.com/stock-market/AMEX/emagin-EMAN/stock-news/82456647/emagin-corporation-announces-first-quarter-2020-re


- Microdisplays were developed for "DEFENSE-WIDE" applications (2014): https://www.businesswire.com/news/home/20141029005705/en/eMagin-Announces-Manufacturing-Technology-ManTech-Award-Develop


- Displays are used in Boeing's APACHE-64 Attack Helicopter Helmets (2018) Pg. 3: 
https://vtol.org/files/dmfile/colucci-vertiflite-so18-visiontech.pdf
PAGE 3: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155653984



****More Links on this & why this is important****

(Current Helmet) https://www.reddit.com/r/aviation/comments/bd201o/an_ah64_apache_attack_helicopter_pilot_helmet/
"WHAT IS THAT THING ON THE PILOT'S EYE????????"  :::::: https://www.lockheedmartin.com/en-us/products/arrowhead.html

******$EMAN'S OLED DISPLAYS BEING USED IN THIS SWEET HELMET THAT CONNECTS TO THE TURRET CAMERA******
 
This is called an ""M-TADS/PVNS System" (Modernized Target Acquisitions Sight / Pilot Night Vision Sensor ---  

Video from LOCKHEED MARTIN of Apache-64 "optics" both in Turret and Helmet (1:00 mark talks about how the HELMET and M-PNVS work together) :
https://www.youtube.com/watch?v=G2hrzSGcmUA

Therefore our "MAJOR DEFENSE CONTRACTOR" must be Lockheed Martin(?) who puts together these targetting systems for Boeing:
https://www.lockheedmartin.com/en-us/products/arrowhead.html
$LMT (Lockheed Martin - NYSE)Lockheed Martin Corporation is an American aerospace, defense, security, and advanced technologies company with worldwide interests.
-$360.40usd/share & $101 Billion Market Cap
-$53.7bln Revenue (2018)


eMagin Announces Significant Order from Major Defense Contractor (2019)http://ir.emagin.com/news-releases/news-release-details/emagin-corporation-announces-significant-order-strengthening




AUGMENTED REALITY / VIRTUAL REALITY

$EMAN mentioned here by NVIDIA, who will use their tech for a VR headset (July 2019): https://research.nvidia.com/sites/default/files/pubs/2019-07_Foveated-AR%3A-Dynamically-Foveated//Foveated_AR___v2%20%2815%29.pdf

"As described in Sec. 4.1.1, three customized ICs (manufactured by ILLUCO) were used in the optical bench prototype. We used the eMagin (WUXGA LUT) micro OLED for the foveal display. Each 18.7×11.75 mm, 3 g micro display has 1920×1200 24-bit color pixels at >1000 cd/m2 brightness. Overall transparency was 50% and the final brightness of the foveal display was around 70 nits. Our peripheral display is powered by the Celluon 1280×720 laser projector (PicoBit), with a 10 mm diameter 75 mm focal length plano-convex lens (Edmund Optics 84-281) for beam shaping. A full-color HOE film was recorded with our custom recording setup (see Supplementary B.1). To maximize the efficiency of all three wavelengths, we stacked three HOEs ( Supplementary B.3). Two perpendicular linear polarizers were used in front of the laser projector to match the brightness of the peripheral display to that of foveal display. In the optical bench prototype, the micro OLED travels horizontally and axially via two high-speed motorized linear stages (DDSM50) from Thorlabs, Inc. 


"Wearable prototype. The wearable prototype consists of a modular, 3D printed frame that houses and aligns all of the optical/mechanical components used in the system (see Supplementary C) including a compact laser projector (MEGA1, MEGA1-F1), a beam shaping lens (Edmund Optics, 84-281), a right angle prism (Thorlabs, PS908), a micro OLED (eMagin, WUXGA LUT), optical front-end (combiners and half mirrors for the fovea and peripheral optical path), and the motion stage used to translate the foveal and peripheral displays in relation to each other. The basic optical structure of the wearable prototype is identical to the benchtop prototype, but it uses a smaller projector and the folded optical path for periphery. Note that the HOE was delaminated from the glass substrate to minimize the form factor and weight. The micro OLED display driver is located remotely and relayed to the display using a 5-feet cable provided by the manufacturer"
 


 
10-Q - for period ending Mar. 31, 2020:
https://www.sec.gov/Archives/edgar/data/1046995/000104699520000029/eman-20200331x10q.htm
 
Earnings Conference Call Transcript (May 14th, 2020):
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155634774



 
 
LINKS
Company Website: http://emagin.com/
LinkedIN: https://www.linkedin.com/company/emagin-corporation
SS: https://www.otcmarkets.com/stock/EMAN/profile
"Official Twitter": https://twitter.com/eMaginCorporat1
"Unofficial Twitter": https://twitter.com/eMagin_OLED 
YouTube Channel: https://www.youtube.com/channel/UCdQ09N_U8RhxHz-r0i2yobA
Reddit Page: https://www.reddit.com/r/eMaginCorp

Management: http://emagin.com/about/management/

Price Target from Rodman & Renshaw: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155684540

Video of Apache-64 "optics" both in Turret and Helmet (1:00 mark talks about how the HELMET and M-PNVS work together) : https://www.youtube.com/watch?v=G2hrzSGcmUA

US ARMY Weapons System: https://defence-blog.com/army/u-s-army-provides-more-details-about-its-revolutionary-weapon-system.html
EMAN
Current Price
Volume:
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
EMAN News: Statement of Changes in Beneficial Ownership (4) 02/25/2021 04:56:44 PM
EMAN News: Amended Statement of Beneficial Ownership (sc 13d/a) 02/23/2021 07:14:20 AM
EMAN News: Statement of Changes in Beneficial Ownership (4) 02/22/2021 04:49:55 PM
EMAN News: Statement of Changes in Beneficial Ownership (4) 02/17/2021 06:28:56 PM
EMAN News: Amended Statement of Ownership (sc 13g/a) 02/12/2021 11:48:18 AM
PostSubject
#1117   Yeah was surprised by the severe dip but puffadder 03/05/21 01:03:56 PM
#1116   IF.. IF.. 1. If Nasdaq turns green today. And tutt1126 03/05/21 12:45:25 PM
#1115   Those 3.75 were nice puffadder 03/05/21 12:37:44 PM
#1114   Much better!!! OMG ! tutt1126 03/05/21 12:35:58 PM
#1113   by frankenberrylives... Stanley76 03/05/21 06:22:30 AM
#1112   https://www.reddit.com/r/eMaginCorp/comments/lxgln8/have_you_guys_seen_this_ta_o Stanley76 03/05/21 06:17:21 AM
#1111   dip for now The Night Stalker 03/04/21 04:48:40 PM
#1110   When the contracts start the real action begins puffadder 03/04/21 11:56:57 AM
#1109   You have no idea what Stillwater is doing lol puffadder 03/04/21 11:11:29 AM
#1108   Back in 4.38-4.48 DudeWheresMyFLTT 03/04/21 10:09:00 AM
#1107   Maybe when Stillwater stops DUMPING shares EMAN will DudeWheresMyFLTT 03/04/21 09:54:42 AM
#1106   Good for Samsung but does nothing for eMagin DudeWheresMyFLTT 03/04/21 07:25:01 AM
#1105   https://www.msn.com/en-us/money/other/nintendo-plans-switch-model-with-bigger-sa tutt1126 03/04/21 02:52:45 AM
#1104   Conversions are over check the dates lmao puffadder 03/03/21 07:22:53 PM
#1103   Stillwater keeps DUMPING shares DudeWheresMyFLTT 03/03/21 07:12:07 PM
#1102   And your point is? DudeWheresMyFLTT 03/03/21 07:06:38 PM
#1101   https://www.stockscores.com/chart.asp?TickerSymbol=eman&TimeRange=1825&Interval= The Night Stalker 03/03/21 06:42:46 PM
#1100   https://www.barchart.com/stocks/quotes/EMAN/technical-chart?plot=CANDLE&volume=t The Night Stalker 03/03/21 04:54:45 PM
#1099   Tomorrow 5.30-5.60? DudeWheresMyFLTT 03/03/21 04:04:37 PM
#1098   Covered at the close DudeWheresMyFLTT 03/03/21 04:03:15 PM
#1097   You do that lol puffadder 03/03/21 04:01:29 PM
#1096   I'll cover at 4.51-4.53 DudeWheresMyFLTT 03/03/21 03:52:36 PM
#1095   Maybe me shorting? DudeWheresMyFLTT 03/03/21 01:44:02 PM
#1094   NAS is pulling it down - back over puffadder 03/03/21 01:38:48 PM
#1093   The charts showed 4.56-4.58 so that's where I DudeWheresMyFLTT 03/03/21 01:33:39 PM
#1092   Thumb up !! Looking good. Sp500 and Nasdaq tutt1126 03/03/21 11:57:55 AM
#1091   New contract news next catalyst puffadder 03/03/21 11:52:03 AM
#1090   Amazing how peeps buy the exact bottom lol puffadder 03/03/21 11:31:07 AM
#1089   My reload is looking great! DudeWheresMyFLTT 03/03/21 11:30:44 AM
#1088   I sold out yesterday and I'm reloading today DudeWheresMyFLTT 03/03/21 10:18:18 AM
#1087   Give me $6 today then $7 by friday tutt1126 03/03/21 09:34:41 AM
#1086   If EMAN was on the NAS it’d be puffadder 03/03/21 08:34:19 AM
#1085   EMAN...$4.86...Psar flipped to a Bullish Buy Position...Open Gap georgie18 03/03/21 03:53:58 AM
#1084   pretty much climbs every week The Night Stalker 03/02/21 11:25:43 PM
#1083   https://www.barchart.com/stocks/quotes/EMAN/technical-chart?plot=CANDLE&volume=t The Night Stalker 03/02/21 11:21:11 PM
#1082   https://www.barchart.com/stocks/quotes/EMAN/technical-chart?plot=CANDLE&volume=t The Night Stalker 03/02/21 11:21:11 PM
#1081   Those who were able to load at much puffadder 03/02/21 06:27:15 PM
#1080   I've been sitting on this one for almost Trade4boat 03/02/21 06:09:33 PM
#1079   spot on, im sure you sold soon The Night Stalker 03/02/21 03:58:24 PM
#1078   Not a whole lotta folks here until recently puffadder 03/02/21 03:56:31 PM
#1077   like how everyone on here claims to own The Night Stalker 03/02/21 03:51:03 PM
#1076   had to buy this today The Night Stalker 03/02/21 03:46:09 PM
#1075   https://www.barchart.com/stocks/quotes/EMAN/technical-chart?plot=CANDLE&volume=t The Night Stalker 03/02/21 03:44:14 PM
#1074   1. https://finance.yahoo.com/news/emagin-awarded-patent-dpd-tm-133000209.html?gu tutt1126 03/02/21 12:57:13 PM
#1073   You are right. This is what caused the price tutt1126 03/02/21 12:08:16 PM
#1072   Totally agree with you 100% tutt1126 03/02/21 11:41:55 AM
#1071   Patent is a game changer puffadder 03/02/21 11:39:23 AM
#1070   $5.40 huge volume puffadder 03/02/21 11:34:00 AM
#1069   If Dow jones, sp 500 , Nasdaq are tutt1126 03/02/21 10:58:39 AM
#1068   Dow jones, sp 500 , Nasdaq are tutt1126 03/02/21 10:41:14 AM
PostSubject
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