OTTAWA, Canada--(BUSINESS WIRE)--Edgewater Wireless Systems Inc. (YFI; TSX.V) (OTCQB: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and commercial markets, today announced the financial and operating results for its quarter ended July 31, 2019.
Q1 2020 Highlights
Q1 was a challenging quarter for the company as it faced significant silicon manufacturing issues. Thankfully solutions to these issues are within sight as strategically, we achieved a critical milestone in producing our next generation of MCSR™ silicon solutions, and we anticipate moving to tape-out cost-optimized silicon later this calendar year. For a chip company, this marks a significant milestone and positions us well to resume generating material revenue later in our current fiscal year.
Complementing our silicon work, we have entered into discussions with several prospective strategic partners in pursuing licensing opportunities for our patented Wi-Fi Spectrum Slicing solutions.
“While revenues for the quarter were disappointing, our team has made significant strides in creating a scalable platform for our next generation of silicon production,” said Andrew Skafel, President and CEO of Edgewater Wireless. “The emerging Dual Channel Wi-Fi™ standard is opening up licensing opportunities to the company, which a year ago, were not visible.”
The Financial Statements and Management Discussion & Analysis are available on SEDAR.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Wi-Fi Spectrum Slicing technology for residential and commercial markets. A disruptive, next-generation approach to wireless, Wi-Fi Spectrum Slicing optimizes scarce spectrum to deliver demanding applications like video, gaming and voice applications as the highest quality-of-service possible.
Backed by 24+ patents, we deliver high-performance MCSR™ silicon; advanced MCSR™ powered Access Points, and Intellectual Property (IP) licensing to OEM and ODMs; service providers; and silicon manufacturers.
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