EX-12 3 dex12.htm COMPUTATION OF THE RATIO OF COMBINED FIXED CHARGES Computation of the Ratio of Combined Fixed Charges

Exhibit 12

Microvision, Inc.

Computation of Ratio of Earnings to Cover Fixed

Charges and Preferred Dividends

(In thousands)

 

     2003     2004     2005     2006     2007  

Pre-tax income from continuing operations

    $ (33,288 )   $ (33,924 )   $ (27,641 )   $ (32,432 )   $ (26,393 )

Fixed charges

      78       509       4,176       5,962       519  
                                        

Earnings available to cover fixed charges

      (33,210 )     (33,415 )     (23,465 )     (26,470 )     (25,874 )
                                        

Fixed charges

           

Interest on indebtedness

      51       151       3,253       5,753       513  

Interest attributable to rental property (a)

      27       12       6       12       6  

Preferred stock dividend requirements

      —         346       917       197       —    
                                        
     78       509       4,176       5,962       519  
                                        

Ratio of earnings to cover fixed charges (b)

      N/A       N/A       N/A       N/A       N/A  

Additional earnings required to cover fixed charges

   $ 33,288     $ 33,924     $ 27,641     $ 32,432     $ 26,393  

 

(a) Based on a reasonable approximation of the interest factor.
(b) As earnings were insufficient to cover fixed charges and preferred dividends, if any, no ratio has been presented.