August 15, 2024 – Ottawa, Canada – Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for the residential, enterprise, and industrial Internet of Things (IIoT) markets, provides an update in response to the unauthorized Avon River Ventures LLC news release.
As part of a potential non-dilutive IP-backed lending facility, Edgewater had engaged Avon River Ventures and their partners to conduct a comprehensive IP valuation of the Company’s portfolio and trade secrets. This engagement aimed to provide Edgewater with an independent valuation and detailed assessment of the Company’s potential market value and growth prospects including silicon sales as well as IP and trade secret licensing by global semiconductor companies. The proprietary report remains inaccessible to both Edgewater management and our shareholders.
Avon Rivers Ventures LLC prepared a summary of Edgewater’s Valuation and IP asset portfolio valued between US$90M and US$180M and published in an unauthorized news release by Avon Rivers on February 5, 2024. To review the full news release, click here:
“While we are pleased with the valuation range of US$90M to US$180M indicated in the release, we have yet to receive a copy of the final proprietary valuation report of Edgewater Wireless IP asset portfolio and cannot comment on the report’s details. We remain dedicated to maintaining high standards of corporate governance and transparency,” commented Andrew Skafel, President and CEO of Edgewater Wireless. “Our strong foundation of intellectual property and trade secrets position create a highly differentiated foundation for our silicon solutions – particularly in light of the WiFi7 standard with its marquee feature MLO – and are enabling us to focus on the production of our next-generation Spectrum Slicing silicon solutions.”
Edgewater Management cautions readers to refrain from solely relying upon the information in the Avon River news release particularly regarding the IP valuation and should research publicly available information on the Company’s patent portfolio.
About Avon River Ventures LLC
Avon River Ventures specializes in appraising both intangible and tangible assets, providing financial solutions that acknowledge the growing significance of intellectual property in today’s knowledge-driven economy. The firm’s proficiency in IP-backed Financing and patent sales underscores its profound understanding of the value of intellectual property in the modern business landscape.
To learn more about Avon River Ventures’ IP Valuation Practices, please visit: https://avonriverventures.com/intellectual-property-ip-valuation/
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
T: +1 613 271 3710
Bill Mitoulas, Investor Relations
T: +1.416.479.9547
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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