Exhibit 12
Computation of the Ratio of Earnings To Cover Fixed Charges and
Preferred Stock Dividends
Microvision, Inc.
Computation of Ratio of Earnings to Cover Fixed
Charges and Preferred Dividends
(In thousands)
| 2000 |
2001 |
2002 |
2003 |
2004 |
Six months ended June 30, 2005 |
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| Pre-tax income from continuing operations |
$ | (26,601 | ) | $ | (41,388 | ) | $ | (34,917 | ) | $ | (33,288 | ) | $ | (33,924 | ) | $ | (11,274 | ) | ||||||
| Fixed charges |
202 | 149 | 111 | 78 | 509 | 1,639 | ||||||||||||||||||
| Earnings available to cover fixed charges |
(26,399 | ) | (41,239 | ) | (34,806 | ) | (33,210 | ) | (33,415 | ) | (9,635 | ) | ||||||||||||
| Fixed charges |
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| Interest on indebtedness |
164 | 92 | 59 | 51 | 151 | 1,070 | ||||||||||||||||||
| Interest attributable to rental property(a) |
38 | 57 | 52 | 27 | 12 | 4 | ||||||||||||||||||
| Preferred stock dividend requirements |
— | — | — | — | 346 | 565 | ||||||||||||||||||
| 202 | 149 | 111 | 78 | 509 | 1,639 | |||||||||||||||||||
| Ratio of earnings to cover fixed charges(b) |
N/A | N/A | N/A | N/A | N/A | N/A | ||||||||||||||||||
| Additional earnings required to cover fixed charges |
$ | 26,601 | $ | 41,388 | $ | 34,917 | $ | 33,288 | $ | 33,924 | $ | 11,274 | ||||||||||||
| (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. |