109 0 Kommentare Edgewater Wireless Announces Year End 2023 Financial Results

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 Year Ending April 30, 2023, which are available on SEDAR (www.SEDAR.com).

“Further review by our team and an external subject matter expert has resulted in the re-categorization of the 2022 Convertible Debentures. The additional prudence taken in preparing our YE financials led to a delay in filing our results,” said Andrew Skafel, President and CEO of Edgewater Wireless Systems Inc. “Operationally, we’re delighted by the progress over these last few months, and we’re on track for a positive 2023 and 2024. The launch of our next-generation WiFi7 Spectrum Slicing silicon has captured the imagination of Service Providers, and we’re fielding multiple requests for engineering samples from Tier 1 Service Providers and OEMs. Spectrum Slicing offers a proven, real-world solution to better home Wi-Fi for ALL devices — existing and new.”

FY 2023 Operating Results:

Net loss for FY 2023 was $799,444 compared to a net loss of $1,057,599 for FY 2022
Revenue in FY 2023 was $7,574 from sales of Wi-Fi Spectrum Slicing development kit and lab system purchases compared to $11,369 in FY 2022.

FY 2023 and Subsequent Activities and Accomplishments highlights:

On May 25, 2023, Edgewater reached a significant milestone, announcing its next-generation Wi-Fi Spectrum Slicing powered silicon solutions targeting residential, enterprise and prosumer applications. Building on the latest Wi-Fi standard, WiFi7 (802.11BE), Edgewater’s groundbreaking platform offers more physical channel capacity than single-channel, legacy Wi-Fi architectures — bringing lower latency and reduced contention for EXISTING and NEW devices. The AI-enabled, dynamic channel-width capable platform supports up to 28 concurrent links/channels. It is the world’s first silicon solution to couple the performance of WiFi7 with the proven robustness and flexibility of Wi-Fi Spectrum Slicing.
On April 25, 2023, Edgewater Wireless completed submissions, a new patent application to the U.S. Patent and Trademark Office titled: “Method and Apparatus for In-Band Multi-channel Determination and Utilization”. The new patent application further solidifies Edgewater’s leadership position in multi-link Wi-Fi and wireless innovation, which is essential in delivering a higher quality of service and lower latency for all modern and legacy wireless devices. The culmination of many years of customer-driven, extensive real-world research and development, the Company leveraged the Industry Research Assistance Program funded by the National Research Council of Canada to identify and further IP licensing opportunities.
On March 7, 2023, Liberty Global joined Edgewater Wireless on a Light Reading hosted webinar titled “Unlocking Real-World Performance in Home Wi-Fi”. A significant milestone for the Company, the webinar has generated commercial momentum from additional major Tier 1 Service Providers facing identical Wi-Fi challenges.