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Founded in 2005, Wi2Wi Corporation is a leader in precision timing devices, frequency control products, and microwave filters. The company enables customers to reduce wireless R&D expenses and time to market by designing, manufacturing, and marketing deeply integrated, end-to-end wireless connectivity solutions and customizable timing and frequency control devices. Wi2Wi serves a wide range of industries including IoT, IIoT, Avionics, Space, Industrial, Medical, and Government sectors. With strategic headquarters in San Jose, California, satellite offices in Middleton, Wisconsin, and Hyderabad, India, Wi2Wi partners with global leaders to deliver innovative and high-performance products.
Wi2Wi (TSXV:YTY)(OTC PINK:ISEYF) has announced a non-brokered private placement of up to 12,000,000 Units at $0.05 per Unit, aiming to raise up to $600,000. Each Unit consists of one common share and one-half warrant, with each whole warrant allowing purchase of an additional share at $0.10 for two years. The warrant includes an acceleration clause if shares trade at or above $0.10 for 10 consecutive days. The offering is subject to regulatory approvals, including TSX Venture Exchange, with a four-month hold period. Proceeds will be used for general working capital and corporate purposes.
Wi2Wi (TSXV:YTY) announced its Q3 2024 unaudited financial results, reporting revenues of $1.709 million, a 20% increase compared to Q3 2023. The company's gross margin improved from 16% in Q2 to 27% in Q3, driven by optimized product mix and cost efficiencies. However, the company recorded a net loss of $78,000, though improved from a $355,000 loss in Q3 2023. Cash position decreased to $467,000 from $1,012,000 year-over-year, while total assets increased to $9,224,000 from $7,568,000.
Wi2Wi announced the election of its new Board of Directors at the annual and special meetings held on November 5, 2024. The elected directors are Gary DuBroc, Jason Grelowski, Matthew Balazsi, Ted Clark, and Carol Hess. Following the election, the Board appointed Gary DuBroc as Chairman of the Board.
Wi2Wi (ISEYF) has announced its 2024 annual meeting of shareholders. The meeting is scheduled to take place on November 5, 2024, at 12:00 PM Eastern Daylight Time (EST). The venue for the meeting is Miller Thomson LLP, located at 40 King Street West, Suite 5800, Toronto, ON, Canada M5H 3S1. This announcement provides shareholders with the necessary information to attend and participate in the company's annual meeting. For further inquiries, investors and media can contact Ted Clark, Chief Executive Officer, at +1-469-545-3423 or via email at ted_c@wi2wi.com.
Wi2Wi announced unaudited financial results for Q2 2024, ending June 30. The company reported revenues of $1.685 million, an 8% increase from Q2 2023 and a 12% increase from Q1 2024. Wi2Wi is focusing on accelerating revenue growth by expanding its network of manufacturing representatives and distribution partners in the frequency control business. The company successfully expanded its presence in key U.S. territories during Q2 and plans to strengthen its direct sales team.
Despite the revenue increase, Wi2Wi reported a net loss of $286,000 for Q2 2024, an improvement from the $425,000 loss in Q2 2023. The company's total assets decreased to $6.531 million from $8.287 million year-over-year, while cash on hand reduced to $712,000 from $973,000. Wi2Wi remains committed to cost optimization, manufacturing efficiencies, and flawless execution across all business operations.
Wi2Wi announced the issuance of 2,100,000 stock options to its board members on June 25, 2024. The distribution of these options aims to align the interests of the board with those of the shareholders, incentivizing the directors to drive company performance. This move indicates a strategic effort to enhance commitment and performance at the leadership level, potentially impacting the company's future growth and operational strategies. The options issuance is part of the company's ongoing efforts to strengthen governance and motivate its executive team. For more details, interested parties can contact Ted Clark, CEO, at +1-469-545-3423 or via email at ted_cl@wi2wi.com.
Wi2Wi reported its unaudited financial results for the first quarter ending March 31, 2024. The company aims to improve revenue growth by expanding sales operations and reducing costs. The new CEO is focused on enhancing business efficiency and customer satisfaction to drive top-line growth.
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