re: MVIS rumored partnership with Microsoft.

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-I am pleased to report that this month we will start conducting moving platform testing at a third-party track.

-Today, our focus remains on establishing ourselves as a trusted partner for automotive OEM, Tier 1 and mobility-as-a-service companies. We expect our closely integrated hardware and software to enable the ADAS safety market, while also supporting potential partners in the autonomous driving market. We expect to start validating our ADAS safety capabilities through our track testing program by second quarter 2022. Nothing is more important to us than getting this right with our products and partnerships.

-With the interest we have received so far, we expect to continue expanding our funnel for target partnerships with the addition of a business development team in Germany. We also expect to add business development teams to address North America and Asia-Pacific markets at some point in the future.

-We expect to introduce our Lidar family of products which will include four new product models. This will include our premium product with dynamic field of view with near, mid, and far fields of view in a single product. We believe this product could someday be considered a
standard for ADAS safety. We will also introduce three additional models with fixed field of view in near, mid or far fields. All four models would be built on the current hardware with their appropriate software. Because all four products will be built on the same hardware, it will limit our inventory exposure while allowing our business development team to have flexibility in converting our sales funnel.

-We are looking at every opportunity to accelerate sales and adoption of our hardware while targeting a blended margin in the range of 50% for direct sales opportunities.

-For the second quarter, revenue was $746,000, a 56% increase over last quarter’s revenue of $479,000. All of the second quarter’s revenue was royalty revenue and attributable to Microsoft Corporation, who’ve previously referred to as our April 2017 customer.

-Cash and cash equivalents at the end of the second quarter was $135.3 million, up from $75.3 million at the end of the prior quarter. The increase was the result of the Company raising funds on the $140 million ATM we put in place in June.

-We'd like to raise the remaining, roughly $70 million that's on the ATM. We would like to, but we don't have any specific plans to do that at this time. Part of the reason, a lot of the reason for the ATM is the confidence it's giving to customers and suppliers and employees and prospective employees.

- I expect us to establish ourselves and lead the ADAS and autonomous driving space with our hardware and software into the future. We remain confident in our ability to successfully execute on our strategy. I am clearly bullish on our future.

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The swinging at $18 I get but it’s only gone over $20 in two time periods - the February craze when everything in the market was hitting new highs and the recent Reddit pump. I don’t know that either of those would be considered cyclical swings

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