$VUZI
Vuzix Corp Stock $vuzi

$vuzi Overview Financials Valuation SEC Filings Company Website

2017 Q2 Form 10-Q Financial Statement

#000114420417041651 Filed on August 09, 2017

Income Statement

Concept	2017 Q2	2016 Q2
Revenue	$1.325M	$561.00
YoY Change	236085.38%	-99.87%
Cost Of Revenue	$1.755M	$686.9K
YoY Change	155.45%	74.99%
Gross Profit	-$429.0K	-$126.00
YoY Change	340376.19%	-100.36%
Gross Profit Margin	-32.38%	-22.46%
Selling, General & Admin	$2.109M	$1.851M
YoY Change	13.92%	35.26%
% of Gross Profit
Research & Development	$1.199M	$1.669M
YoY Change	-28.17%	127.86%
% of Gross Profit
Depreciation & Amortization	$310.0K	$250.0K
YoY Change	24.0%	66.67%
% of Gross Profit
Operating Expenses	$3.550M	$3.520M
YoY Change	0.87%	67.54%
Operating Profit	-$3.980M	-$3.830M
YoY Change	3.92%	78.6%
Interest Expense	$24.29K	$33.54K
YoY Change	-27.58%	-11.01%
% of Operating Profit
Other Income/Expense, Net	-$90.13K	-$273.7K
YoY Change	-67.07%	6.08%
Pretax Income	-$4.070M	-$4.103M
YoY Change	-0.81%	70.81%
Income Tax	$0.00	$0.00
% Of Pretax Income
Net Earnings	-$4.070M	-$4.103K
YoY Change	99095.71%	-99.83%
Net Earnings / Revenue	-307.17%	-731.37%
Basic Earnings Per Share
Diluted Earnings Per Share	-$186.3K	-$254.0K
COMMON SHARES
Basic Shares Outstanding	20.41M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2017 Q2	2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$6.100M	$4.600M
YoY Change	32.61%	-77.0%
Cash & Equivalents	$6.129M	$4.586M
Short-Term Investments
Other Short-Term Assets	$700.0K	$1.300M
YoY Change	-46.15%	-7.14%
Inventory	$3.400M	$3.500M
Prepaid Expenses
Receivables	$600.0K	$100.0K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$10.80M	$9.500M
YoY Change	13.68%	-57.96%
LONG-TERM ASSETS
Property, Plant & Equipment	$3.586M	$2.600M
YoY Change	37.93%	420.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$4.368M	$3.400M
YoY Change	28.47%	99.92%
TOTAL ASSETS
Total Short-Term Assets	$10.80M	$9.500M
Total Long-Term Assets	$4.368M	$3.400M
Total Assets	$15.17M	$12.90M
YoY Change	17.58%	-46.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.809M	$1.100M
YoY Change	64.47%	57.14%
Accrued Expenses	$1.064M	$900.0K
YoY Change	18.27%	25.03%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$0.00	$1.468M
YoY Change	-100.0%	1368.4%
Total Short-Term Liabilities	$3.063M	$3.800M
YoY Change	-19.4%	138.41%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change		-100.0%
Other Long-Term Liabilities	$200.0K	$300.0K
YoY Change	-33.33%	0.0%
Total Long-Term Liabilities	$187.3K	$272.1K
YoY Change	-31.17%	-80.17%
TOTAL LIABILITIES
Total Short-Term Liabilities	$3.063M	$3.800M
Total Long-Term Liabilities	$187.3K	$272.1K
Total Liabilities	$3.250M	$4.027M
YoY Change	-19.3%	35.79%
SHAREHOLDERS EQUITY
Retained Earnings	-$85.09M
YoY Change
Common Stock	$20.61K	$16.16K
YoY Change	27.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$11.92M	$8.855M
YoY Change
Total Liabilities & Shareholders Equity	$15.17M	$12.88M
YoY Change	17.74%	-47.06%

Cashflow Statement

Concept	2017 Q2	2016 Q2
OPERATING ACTIVITIES
Net Income	-$4.070M	-$4.103K
YoY Change	99095.71%	-99.83%
Depreciation, Depletion And Amortization	$310.0K	$250.0K
YoY Change	24.0%	66.67%
Cash From Operating Activities	-$3.720M	-$3.180M
YoY Change	16.98%	25.2%
INVESTING ACTIVITIES
Capital Expenditures	-$550.0K	-$450.0K
YoY Change	22.22%	66.67%
Acquisitions
YoY Change
Other Investing Activities		$0.00
YoY Change		-100.0%
Cash From Investing Activities	-$550.0K	-$450.0K
YoY Change	22.22%	-91.46%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	0.000
YoY Change		-100.0%
NET CHANGE
Cash From Operating Activities	-3.720M	-3.180M
Cash From Investing Activities	-550.0K	-450.0K
Cash From Financing Activities	0.000	0.000
Net Change In Cash	-4.270M	-3.630M
YoY Change	17.63%	-53.64%
FREE CASH FLOW
Cash From Operating Activities	-$3.720M	-$3.180M
Capital Expenditures	-$550.0K	-$450.0K
Free Cash Flow	-$3.170M	-$2.730M
YoY Change	16.12%	20.26%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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	us-gaap	Capitalized Computer Software Amortization1 CapitalizedComputerSoftwareAmortization1	143225	USD
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	191654	USD
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-370534	USD
	vuzi	Increase Decrease In Vendors Prepayments IncreaseDecreaseInVendorsPrepayments	55163	USD
	vuzi	Increase Decrease In Vendors Prepayments IncreaseDecreaseInVendorsPrepayments	61980	USD
	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	22500	USD
CY2017Q2	us-gaap	Preferred Stock Value PreferredStockValue	50	USD
CY2017Q2	us-gaap	Common Stock Value CommonStockValue	20609	USD
	us-gaap	Stock Issued During Period Value Conversion Of Convertible Securities StockIssuedDuringPeriodValueConversionOfConvertibleSecurities	1861283	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	486602	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	349206	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	39216	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-223811	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	755923	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	121856	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-279898	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	210899	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	723632	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	149734	USD
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	56711	USD
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	179151	USD
	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	-18753	USD
	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	7123	USD
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-9695	USD
	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	11327	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	65260	USD
	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	-160967	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-7548842	USD
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	-6387140	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	662993	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	836541	USD
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	92767	USD
	us-gaap	Payments To Acquire Intangible Assets PaymentsToAcquireIntangibleAssets	56834	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-855760	USD
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-893375	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	0	USD
	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	55210	USD
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	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-7290725	USD
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CY2016Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	4586333	USD
	us-gaap	Interest Paid InterestPaid	39	USD
	us-gaap	Interest Paid InterestPaid	11444	USD
	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	175674	USD
	us-gaap	Issuance Of Stock And Warrants For Services Or Claims IssuanceOfStockAndWarrantsForServicesOrClaims	100000	USD
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CY2017Q2	us-gaap	Liabilities Current LiabilitiesCurrent	3062638	USD
CY2016Q4	us-gaap	Liabilities Current LiabilitiesCurrent	4421959	USD
CY2017Q2	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	187320	USD
CY2016Q4	vuzi	Prepaid Manufacturing Vendor Payments PrepaidManufacturingVendorPayments	144168	USD
CY2016Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1331983	USD
CY2017Q2	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	2594	USD
CY2016Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	12290	USD
CY2016Q4	us-gaap	Customer Deposits Current CustomerDepositsCurrent	66162	USD
CY2016Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	1085472	USD
CY2016Q4	us-gaap	Assets Assets	22345260	USD
CY2017Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	1809146	USD
CY2017Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	1064451	USD
CY2017Q2	us-gaap	Liabilities Liabilities	3249958	USD
CY2017Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	15167918	USD
CY2017Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	96988013	USD
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CY2017Q2	us-gaap	Inventory Raw Materials And Purchased Parts Net Of Reserves InventoryRawMaterialsAndPurchasedPartsNetOfReserves	2226656	USD
CY2017Q2	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	302387	USD
CY2017Q2	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	1584343	USD
CY2017Q2	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	706245	USD
CY2017Q2	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	128063	USD
CY2017Q2	vuzi	Accrued Compensation AccruedCompensation	523802	USD
CY2017Q2	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	155746	USD
CY2017Q2	us-gaap	Product Warranty Accrual Classified Current ProductWarrantyAccrualClassifiedCurrent	75603	USD
CY2016Q4	us-gaap	Deposit Liabilities Accrued Interest DepositLiabilitiesAccruedInterest	375560	USD
	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	1861283	USD
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	0	USD
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-124918	USD
	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	9144	USD
	us-gaap	Derivative Gain Loss On Derivative Net DerivativeGainLossOnDerivativeNet	1987	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	155760	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	236022	USD
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	19500	USD
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	23160	USD
CY2016	us-gaap	Net Income Loss NetIncomeLoss	19250082	USD
CY2015	us-gaap	Net Income Loss NetIncomeLoss	13427478	USD
CY2016	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	19238015	USD
	us-gaap	Earnings Per Share Potentially Dilutive Securities EarningsPerSharePotentiallyDilutiveSecurities	6,499,941
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CY2016Q4	us-gaap	Inventory Raw Materials And Purchased Parts Net Of Reserves InventoryRawMaterialsAndPurchasedPartsNetOfReserves	1990026	USD
CY2016Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	454120	USD
CY2016Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	831069	USD
CY2016Q4	us-gaap	Inventory Valuation Reserves InventoryValuationReserves	623997	USD
CY2016Q4	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	119472	USD
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CY2016Q4	us-gaap	Product Warranty Accrual Classified Current ProductWarrantyAccrualClassifiedCurrent	41132	USD
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	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	92189	USD
	vuzi	Percentage Of Outstanding Warrants Issued By Parent PercentageOfOutstandingWarrantsIssuedByParent	0.86	pure
CY2017Q2	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight	38100	shares
CY2014Q4	us-gaap	Convertible Debt ConvertibleDebt	3000000	USD
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CY2017Q2	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	335248	USD
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	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	785217	USD
	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	1864330	USD
	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	139500	USD
	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	671594	USD
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CY2017Q2	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	2942000	USD
	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P3Y1M6D
	us-gaap	Lease Expiration Date1 LeaseExpirationDate1	2020-10-03
	vuzi	Operating Lease Commencement Date OperatingLeaseCommencementDate	2015-10-03
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	228509	USD
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	246704	USD
CY2017Q2	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	1166073	USD
CY2017Q2	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	0	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	924717	USD
	us-gaap	Sales Revenue Net SalesRevenueNet	2535924	USD
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	1250848	USD
	us-gaap	Cost Of Goods Sold CostOfGoodsSold	2351734	USD
	us-gaap	Cost Of Services CostOfServices	39060	USD
	us-gaap	Cost Of Services CostOfServices	464917	USD
	us-gaap	Cost Of Revenue CostOfRevenue	1289908	USD
	us-gaap	Cost Of Revenue CostOfRevenue	2816651	USD
	us-gaap	Gross Profit GrossProfit	-365191	USD
	us-gaap	Gross Profit GrossProfit	-280727	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2943756	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	2867748	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1778046	USD
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	1831328	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2085744	USD
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2543417	USD
	us-gaap	Taxes Other TaxesOther	34625	USD
	us-gaap	Taxes Other TaxesOther	22150	USD
	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-7484	USD
	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-25053	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-353618	USD
	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-245733	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-7879229	USD
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-8251762	USD
	us-gaap	Net Income Loss NetIncomeLoss	-8251762	USD
	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	793540	USD
	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	837708	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	23160	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	19500	USD
	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	1987	USD
	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	9144	USD
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.54
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.45
	us-gaap	Operating Income Loss OperatingIncomeLoss	-8006029	USD
	us-gaap	Operating Income Loss OperatingIncomeLoss	-7525611	USD
CY2016Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	19569247	shares
CY2016Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2017Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2016Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2017Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	49626	shares
CY2016Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	49626	shares
CY2016Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2016Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2017Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	20609182	shares
CY2016Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	19569247	shares
CY2016Q2	us-gaap	Cost Of Goods Sold CostOfGoodsSold	647871	USD
CY2017Q2	us-gaap	Cost Of Goods Sold CostOfGoodsSold	1397831	USD
CY2016Q2	us-gaap	Cost Of Services CostOfServices	39060	USD
	us-gaap	Stock Issued During Period Value Issued For Services StockIssuedDuringPeriodValueIssuedForServices	100000	USD
	vuzi	Stock Issued During Period Value Exercise Of Warrants StockIssuedDuringPeriodValueExerciseOfWarrants	0	USD
	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	0	USD
CY2017Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	904947	USD
CY2016Q2	us-gaap	Sales Revenue Goods Net SalesRevenueGoodsNet	421377	USD
CY2017Q2	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	420314	USD
CY2016Q2	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	139500	USD
CY2017Q2	us-gaap	Sales Revenue Net SalesRevenueNet	1325261	USD
CY2016Q2	us-gaap	Sales Revenue Net SalesRevenueNet	560877	USD
CY2017Q2	us-gaap	Cost Of Services CostOfServices	356917	USD
CY2017Q2	us-gaap	Cost Of Revenue CostOfRevenue	1754748	USD
CY2016Q2	us-gaap	Cost Of Revenue CostOfRevenue	686931	USD
CY2016Q2	us-gaap	Gross Profit GrossProfit	-126054	USD
CY2017Q2	us-gaap	Gross Profit GrossProfit	-429487	USD
CY2017Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1198940	USD
CY2016Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	1669043	USD
CY2017Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	800329	USD
CY2016Q2	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	651547	USD
CY2016Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1199427	USD
CY2017Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1308234	USD
CY2016Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	183686	USD
CY2017Q2	us-gaap	Depreciation And Amortization DepreciationAndAmortization	242979	USD
CY2016Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-3829757	USD
CY2017Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-3979969	USD
CY2017Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	14944	USD
CY2016Q2	us-gaap	Investment Income Interest InvestmentIncomeInterest	3324	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	32844	USD
	us-gaap	Investment Income Interest InvestmentIncomeInterest	12779	USD
CY2017Q2	us-gaap	Taxes Other TaxesOther	11600	USD
CY2016Q2	us-gaap	Taxes Other TaxesOther	13904	USD
CY2017Q2	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-26151	USD
CY2016Q2	us-gaap	Foreign Currency Transaction Gain Loss Before Tax ForeignCurrencyTransactionGainLossBeforeTax	-3536	USD
CY2017Q2	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	-13416	USD
CY2016Q2	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	-99679	USD
CY2016Q2	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	114816	USD
CY2017Q2	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	21568	USD
CY2016Q2	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	11580	USD
CY2017Q2	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	8048	USD
	us-gaap	Interest Expense InterestExpense	65258	USD
CY2017Q2	us-gaap	Interest Expense InterestExpense	24291	USD
CY2016Q2	us-gaap	Interest Expense InterestExpense	33542	USD
	us-gaap	Interest Expense InterestExpense	67093	USD
CY2016Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-273733	USD
CY2017Q2	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-90130	USD
CY2017Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-4070099	USD
CY2016Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-4103490	USD
CY2017Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2016Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2017Q2	us-gaap	Net Income Loss NetIncomeLoss	-4070099	USD
CY2016Q2	us-gaap	Net Income Loss NetIncomeLoss	-4103490	USD
CY2017Q2	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	424243	USD
CY2016Q2	us-gaap	Preferred Stock Dividends And Other Adjustments PreferredStockDividendsAndOtherAdjustments	399715	USD
CY2017Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-4494342	USD
CY2016Q2	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-4503205	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-9089470	USD
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-8672769	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2017Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.22
CY2016Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.28
CY2017Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	20446824	shares
CY2016Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	16137419	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	20082633	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	16135881	shares
	us-gaap	Payments To Develop Software PaymentsToDevelopSoftware	100000	USD
	us-gaap	Payments To Develop Software PaymentsToDevelopSoftware	0	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	0	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	45000	USD
CY2016Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	41132	USD
CY2017Q2	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	163987	USD
CY2016Q4	us-gaap	Derivative Fair Value Of Derivative Liability DerivativeFairValueOfDerivativeLiability	173131	USD
CY2016Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue	173131	USD
CY2016Q4	us-gaap	Long Term Debt LongTermDebt	1416480	USD
CY2017Q2	us-gaap	Long Term Debt LongTermDebt	0	USD
	vuzi	Officers Compensation Payable Compounding Monthly Interest Rate OfficersCompensationPayableCompoundingMonthlyInterestRate	0.08	pure
CY2017Q2	us-gaap	Interest Payable Current InterestPayableCurrent	171237	USD
CY2016Q4	us-gaap	Interest Payable Current InterestPayableCurrent	141645	USD
CY2016Q4	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight	38100	shares
CY2016Q4	vuzi	Accrued Revenuecurrent AccruedRevenuecurrent	0	USD
CY2017Q2	vuzi	Accrued Revenuecurrent AccruedRevenuecurrent	420314	USD
	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	486602	USD
	vuzi	Increasedecrease In Accrued Revenue IncreasedecreaseInAccruedRevenue	420314	USD
	vuzi	Increasedecrease In Accrued Revenue IncreasedecreaseInAccruedRevenue	0	USD
CY2017Q2	us-gaap	Share Based Compensation ShareBasedCompensation	277000	USD
CY2016Q2	us-gaap	Share Based Compensation ShareBasedCompensation	175000	USD
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 34.55pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0in 0in 0pt; BACKGROUND: transparent"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="BACKGROUND-COLOR: transparent">Note 1  Basis of Presentation</font></font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 34.55pt; BACKGROUND: transparent"> <b><font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">The accompanying unaudited Condensed Consolidated Financial Statements of Vuzix Corporation and Subsidiaries (“the Company") have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X of the Securities and Exchange Commission. Accordingly, the unaudited Condensed Consolidated Financial Statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. The condensed consolidated balance sheet as of December 31, 2016 was derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K (the “Annual Report”).</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">The accompanying Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements of the Company as of December 31, 2016, as reported in the Company’s Annual Report.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period or for a full fiscal year.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <font style="BACKGROUND-IMAGE: none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; FONT-SIZE: 10pt"> </font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="BACKGROUND-IMAGE: none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; FONT-SIZE: 10pt"> <font style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> For the six months ended June 30, 2017, Toshiba Japan represented <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 26</font>% of revenues as compared to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0</font>% in the same 2016 period. As of June 30, 2017 and 2016, Toshiba Japan accounted for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 75</font>% and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0</font>% of accounts receivables and accrued revenue, respectively.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">The accompanying Condensed Consolidated Financial Statements have been prepared assuming that we will continue as a going concern. This basis of accounting contemplates the recovery of our assets and the satisfaction of liabilities in the normal course of business. These Condensed Consolidated Financial Statements do not include any adjustments to the specific amounts and classifications of assets and liabilities, which might be necessary should we be unable to continue as a going concern. The Company incurred a net loss for the first six months of 2017 of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">8,251,762</font>. The Company has incurred a net loss consistently over recent years. The Company incurred annual net losses of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">19,250,082</font> in 2016 and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">13,427,478</font> in 2015, and has an accumulated deficit of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">85,090,712</font> as of June 30, 2017.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font><font style="BACKGROUND-COLOR: transparent"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">The Company’s cash requirements are primarily for funding operating losses, research, capital expenditures and working capital. Historically, the Company has met these cash needs by borrowings under notes, sales of convertible debt, and the sales of equity. In 2016, we received total net proceeds from public equity offerings of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">19,238,015</font>, after underwriting discounts and commissions and other offering expenses.</font></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">Our cash requirements related to funding operating losses depend on numerous factors, including new product development activities, our ability to commercialize our products, our products’ timely market acceptance, selling prices and gross margins, and other factors. In order for us to achieve positive cash flow from operations, our product sales will need to significantly increase.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font><font style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> The Company’s management intends to take actions necessary to continue as a going concern, as discussed herein. The Company will need to grow its business significantly to become profitable and self-sustaining on a cash flow basis. Management’s plans concerning these matters and managing our liquidity includes among other things:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> the commencement of full volume manufacturing of the new M300 Smart Glasses in the spring of 2017, along with expected margin improvements from higher production volumes and assembly offshore, which we successfully completed in June 2017;</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"><font style="BACKGROUND-IMAGE: none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; FONT-SIZE: 10pt"> </font> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="BACKGROUND-IMAGE: none; BACKGROUND-ATTACHMENT: scroll; BACKGROUND-REPEAT: repeat; BACKGROUND-POSITION: 0% 0%; FONT-SIZE: 10pt"> <font style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> the recent award of a Smart Glasses development program with Toshiba, which we expect to be completed by early fall 2017 and represents approximately a further $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">715,000</font> in revenues during the next two fiscal quarters;</font></font><font style="BACKGROUND-COLOR: transparent"> </font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="BACKGROUND: none transparent scroll repeat 0% 0%; FONT-SIZE: 10pt"> tighter control of operating costs and reduce spending growth rates wherever possible;</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">·</font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">delay new product tooling and curtail discretionary and non-essential capital expenditures not related to select near-term new products;</font></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">·</font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">reduce the rate of research and development spending on new technologies, particularly the use of costly external contractors for upcoming Blade 3000 smart glasses that will first be manufactured at our Rochester plant rather than at more costly external contractors; and</font></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">·</font></font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">delaying planned new products based on new technology including the M3000 and AR 3000 Smart Glasses.</font></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">  </font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">However, if these actions are not successful in the near term, we will have to raise additional capital to maintain operations and/or materially reduce our operating and new product development costs.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">If the Company raises additional funds, the ownership interest of existing stockholders may be diluted. The amount of such dilution could increase due to the issuance of new warrants or securities with other dilutive characteristics, such as full ratchet anti-dilution clauses or price resets.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt 0.5in; BACKGROUND: transparent"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent"> </font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: transparent">Based upon our current amount of cash on hand, management’s historical ability to raise capital, and our ability to manage our cost structure and adjust operating plans if and as required, we have concluded that substantial doubt of our ability to continue as a going concern has been alleviated.</font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

Files In Submission

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0001144204-17-041651.txt	Edgar Link	pending
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Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
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vuzi-20170630.xml	Edgar Link	completed
vuzi-20170630.xsd	Edgar Link	pending
vuzi-20170630_cal.xml	Edgar Link	unprocessable
vuzi-20170630_def.xml	Edgar Link	unprocessable
vuzi-20170630_lab.xml	Edgar Link	unprocessable
vuzi-20170630_pre.xml	Edgar Link	unprocessable

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2017 Q2 Form 10-Q Financial Statement

#000114420417041651 Filed on August 09, 2017

Income Statement

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$VUZI Vuzix Corp Stock $vuzi

2017 Q2 Form 10-Q Financial Statement

#000114420417041651 Filed on August 09, 2017

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$VUZI
Vuzix Corp Stock $vuzi