September 26, 2022 – Ottawa, Canada – Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and enterprise markets, is pleased to announce its financial and operational results for the First Quarter ending July 31, 2022, which are available on SEDAR (www.SEDAR.com).
“We’re energized by the resumption of in-person customer engagements in Europe with the major Tier 1 and selected OEMs. Discussions moved beyond technical validation to commercial and implementation in nature,” said Andrew Skafel, President and CEO of Edgewater Wireless. “We continue to strengthen our product offering by beginning to build a robust technology transfer program geared to accelerate growth via licensing of our groundbreaking Spectrum Slicing approach to major semiconductor players.”
Q1 FY 2023 Accomplishments:
- With the lifting of COVID restrictions in many parts of the globe, in-person customer engagements in Europe resumed and provided substantive opportunities to strengthen relationships. Discussions with the major Tier 1 service provider and multiple OEMs shifted from technical due diligence and analysis to implementation and commercial in nature.
- Multiple engagements highlighted the significant challenges the new 6GHz Wi-Fi band introduced. The limited spacing between the 5 and 6 GHz bands results in interference and requires multiple expensive filters to maintain a baseline level of performance. Edgewater’s patented interference mitigation techniques could significantly reduce the implementation for equipment manufacturers by eliminating the need for costly filters on each antenna.
- Retained Dr. Nima Ahmadvand (ex-MOSAID Technologies Inc.) to explore paths to Intellectual Property monetization, including IP licensing, enforcement and building a robust technology transfer program.
Q1 FY 2023 Operating Results:
- Edgewater is a development stage company, and revenues for Q1 FY 2023 were nil.
- Net loss for Q1 FY 2023 was $181,160 compared to a net loss of $286,445 for Q1 FY 2022.
Detailed information from the Company’s interim consolidated Financial Statements and Management Discussion and Analysis are available on www.SEDAR.ca.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 26 granted patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
Edgewater’s physical layer Spectrum Slicing allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. Think of Spectrum Slicing like moving from a single-lane road to a multi-lane highway — regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) with a major Tier 1 Service Provider showed 7 to 18 times performance gains in 75% of homes surveyed. Interestingly, homes with the most devices saw the greatest improvements.
For more information, visit www.edgewaterwireless.com.
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Edgewater Wireless Contacts:
Andrew Skafel, President and CEO
E: andrews@edgewaterwireless.com
Bill Mitoulas, Investor Relations
T: +1.416.479.9547
Forward-Looking Statements
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