Penny Stock Speculation

I have been watching this stock for a while. With the recent failure from the highs I decided I would share. MicroVision is company I became interested in for a fundamental reasons. They are the creator of the "PicoP" projector, and they create laser based projection systems. They also hold a large portfolio of patents that I believe may have application in virtual and augmented reality. It came across my radar one day and peaked my attention. I am completely speculating with this company. It is a high risk gamble, as many of you know, stocks trading at these prices usually are.

I would also like to share short interest data taken from the NASDAQ website.
Settlement Date / Short Interest / Avg. Daily Volume / Days to cover
11/15/2016 / 4,821,343 / 340,927 / 14.141863
10/31/2016 / 5,007,580 / 157,469 / 31.800418
As you can see short interest fell during the time period 10/31 to 11/15 and days to cover went from 31.8 to 14.14. Are short sellers preparing to cover? Why are 4.8M shares short on a stock that was trading below $1? I don't have the answers to these questions.

If you have any comments or critiques please share. Again, this trade is entirely based on speculation.

Comment:

Here is a quote taken directly from a conference call the CEO Alexander Tokman had on November 2, 2016. This quote reveals some of the products they are developing.
“So we acted quickly and begun investing in 2016 in to the development of new LBS engines to address the specific market needs. First, a small form factor, high definition display engine for applications for size and flexibility of products designed are important. Second, an interactive touch engine that integrates display and 3D sensing functions to allow the user to interact with projected images. And finally the third, a mid-range glider which stands for - essentially LiDAR is Laser Light Radar, 3D sensing engine for industrial products and robotics.”
Here is another quote that I believe reveals the massive growth potential for this stock.
“We expect the revenue from the new engines to significantly add to the revenue from component sales and royalties from our existing customers. In fact, we anticipate that sales of new engines could contribute between 30 million to 60 million within the first 12-18 months following the availability of the first mass product units.”
Get the full transcript of the November 2nd conference call here: http://seekingalpha.com/article/4018218-microvisions-mvis-ceo-alexander-tokman-q3-2016-results-earnings-call-transcript?page=2

Comment:

Going to increase my position if we go towards 50 day MA/the 1.36 support line on chart.

Comment:

Bought more