Edgewater Wireless Reports 2020 First Quarter Financial Results

OTTAWA, Canada--()--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.

For more information, visit www.edgewaterwireless.com or www.aera.io.

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.

Contacts

Edgewater Wireless Investor Contact:
Andrew Skafel
President and CEO
T: +1 613-271-3710
E: andrews@edgewaterwireless.com
W: www.edgewaterwireless.com

Contacts

Edgewater Wireless Investor Contact:
Andrew Skafel
President and CEO
T: +1 613-271-3710
E: andrews@edgewaterwireless.com
W: www.edgewaterwireless.com