Revisiting this this thread with some thoughts after 10 months. In that time, MVIS popped into the $3s, and has recently come back down into the $2.40s. 1-year returns have been 26.9%, although that's mostly due to the SONY announcements early last year.
They've got a deal in place with SONY and Sharp is releasing a product in Japan w/ their tech (not sure how well it will sell), and a number of products incorporating their technology are starting to come out. They also had an arrangement with Pioneer a few years ago, and...at first glance at a video from CES that I saw, it looks like Pioneer is bringing back their laser scanning tech in a HUD, now that green lasers are more widely available. The Lenovo Smart Cast projector phone concept from last year also might be using their technology. I read on a review site, I believe, that they're targeting June 2016 for release, but who knows.
Sony has restructured, and they're spinning off a different company, Sony Semiconductor (IIRC, that becomes formal on April 1), which focuses on the successful image sensor portion of their business as well as pico projection. Sumitomo (partnered w/ Sony) has created a tiny package that contains RGB laser diodes. And, STMicro is in the standalone pico projector that Sony is currently selling.
Last year, Sony put in a $14.5 million order in March. Sony's fiscal year goes from April-March. It's obviously still high-risk, and I know that risk is a dirty word for many people. There's a large number of shares shorted, which makes me wonder what they know that I don't. I suspect that it's based solely on historical performance. Institutional ownership is nice. My timeline/target may be off, but I'm still bullish on the prospects in the next few months, and over the next few years.