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     114  0 Kommentare Edgewater Wireless Announces 2021 Fiscal Year-End Audited Results

    Edgewater Wireless Systems Inc. (TSX.V:YFI) (OTC Pink:KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and enterprise markets, is pleased to announce its audited financial results for the Fourth Quarter and Year-Ended April 30, 2021, which are available on SEDAR (www.sedar.com). The Company fiscal year-end is April 30, 2021.

    “In 2021, we focused on fewer, more targeted strategic initiatives. Achieving two key milestones -- a successful proof of concept (PoC) with a major Tier 1 Service Provider and completing multiple, oversubscribed private placements – put us on a stronger trajectory exiting the year,” said Andrew Skafel, President and CEO of Edgewater Wireless. “We’re pleased with our progress over a challenging year and are looking forward to building on the momentum.”

    Highlights for the Three Month and Full Year Ended April 30, 2021:

    • Edgewater Wireless is a pre-revenue, development-stage company.
    • During the three and twelve months ended April 30, 2021, the Company recorded a net loss of $270,800 and $773,400, respectively, compared to a net loss of $627,200 and $2,038,000, respectively, incurred during the three and twelve months ended April 30, 2020. The Company’s cost control initiatives accounted for a 62% decrease in net loss for the fiscal year compared to 2020.
    • Cash on hand at the end of April 30, 2021, was $1,488,000.

    The Company Reiterates its Strategic Focus on the Following Growth Initiatives:

    1. Proof of Concept (PoC) Pipeline Expansion: Following the first PoC completed in March 2021 with a major Tier-1 Service Provider; the Company continues to focus on expanding its pipeline of new Tier-1 PoC candidates. The successful PoC completed in March 2021 focused on 6-million devices in 750,000 homes. Results showed 7 to 18 times performance gains in 75% of homes surveyed. Our industry peers and partners understand how Edgewater’s Spectrum Slicing technology can revolutionize Wi-Fi. Management is continuing its targeted Tier-1 marketing efforts, cultivating new relationships and further developing existing relationships with Service Providers who have displayed a strong and genuine interest. The Company anticipates providing status updates to the market in the coming months on the progress of new PoC engagements.
    2. Commercial Pilot Project: Edgewater management is working directly with the Tier 1 Service Provider to take Edgewater’s Spectrum Slicing product through extensive lab testing. The Tier-1 Service Provider had previously participated in the successful PoC, and Edgewater’s top priority is to move to the pilot stage or physical test phase.
    3. Silicon Partnerships and Alliances: Edgewater management continues to focus on building alliances with several potential silicon partners to strengthen its move to capture the volume market for Spectrum Slicing. The ultimate goal is to create an ecosystem of world-class silicon partnerships to continue to move its strategic initiatives forward. Additional updates related to partnerships and alliances are anticipated to be provided by Fall 2021.
    4. Industry Marketing and Awareness: The Company’s MD&A contains a list of press releases highlighting the various marketing initiatives and activities the Company has undertaken throughout fiscal 2021. The Company intends to participate in numerous Industry events and presentations in the year ahead and provide investors with details of each future engagement.
    5. Capital Markets and Investor Relations: Edgewater recently engaged the services of Venture North Capital, a Toronto-based investor relations group that is focused on improving communications efforts with existing Edgewater investors while broadening Edgewater’s investor audience and attracting new shareholders.

    For further information, please visit SEDAR.ca

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    Edgewater Wireless Announces 2021 Fiscal Year-End Audited Results Edgewater Wireless Systems Inc. (TSX.V:YFI) (OTC Pink:KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and enterprise markets, is pleased to announce its audited financial results for the Fourth Quarter and Year-Ended …