MicroVision hopes to land agreements with a “vital few”...

and CE suppliers, MicroVision expects to secure the first of the new pacts by June, Tokman said. In starting negotiations with the new crop of potential customers, MicroVision was seeking partners that derive revenue from “multiple sources” including software and services in addition to hardware, Tokman said. MicroVision is seeking “opportunity” for upfront licensing revenue and non-recurring engineering fees, he said. The new pacts would generate product revenue in 2014, he said. Pioneer has been MicroVision’s main customer for its laser-based light engine, having deployed it in Navi head-up display (HUD) after-market devices that are built into a driver’s side sunvisor and show driving direction on a car’s windshield just of ahead of the road itself. The Pioneer AVIC-VH99HUD single-DIN ($3,770) and AVIC-ZH99HD dual-DIN ($4,021) models use MicroVision’s MEMS display as part of a GPS system paired with NTTDoCoMo’s wireless service and data. The Pioneer products use MicroVision’s 1.37x0.78 x 0.24-inch second-generation PicoP light engine that delivers 1,280 x 720 resolution, 15 lumens to 25 lumens and a 3:1 contrast ratio. The light engine has a 515-nanometer direct green laser, as well as 638-nanometer red laser and a 450-nanometer blue laser. MicroVision ended Q4 with a $1.8 million order backlog, the majority of which were component orders for Pioneer, Chief Financial Officer Jeff Wilson said. MicroVision also had $600,000 in deferred revenue, the bulk of which will be recognized in the first half, Wilson said. The “big momentum” for HUD is in embedded applications with six to seven automakers pushing 10 to 11 suppliers to come up with product, Tokman said. “As you can imagine most of these people are referring back to us,” Tokman said. Meanwhile, Microvision received a potential delisting notice from the Nasdaq for failing to maintain a $50 million minimum market value for 30 consecutive days. It has until August to regain compliance.