A few days ago Microvision announced their financial results for Q1 2013, and they reported that the company has only $3.3 million in cash. The company lost $3.7 million in the quarter, so obviously they needed to raise more money.
Happily, the company announced today that indeed they raised $5.85 million by selling 2.6 million shares plus warrants to buy 1.9 million shares to Crede CG III and other investors. That's good news for Microvision, but I think it may not be enough as it doesn't seem likely the company can become profitable by the end of 2013.
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