EDGEWATER WIRELESS SY ORD - KPIFF STOCK NEWS

Edgewater Wireless Systems Inc. (KPIFF) has successfully closed the first tranche of its non-brokered private placement of unsecured convertible debentures, raising $716,000. The debentures mature in three years and are convertible into company units priced at $0.12 per unit, each comprising one common share and one warrant exercisable at $0.23 for three years. The proceeds will be used for general working capital. The transaction involves participation from three current directors totaling $138,000 and is subject to TSX Venture Exchange approval, alongside a hold period expiring on January 2, 2023.

Edgewater Wireless (OTC: KPIFF) reported its FY 2022 results, achieving revenues of $11,193 from lab systems and Wi-Fi Spectrum Slicing kits. The company experienced a net loss of $1,057,599, worsening from $773,447 in FY 2021. Edgewater made significant advancements in Wi-Fi technology, proving a 50% latency reduction and 6-12 times throughput gains during a pilot with a major Tier 1 service provider. Collaborations for on-shoring silicon production with CMC Microsystems and access to GlobalFoundries are expected to strengthen its market position.

Edgewater Wireless Systems (OTC: KPIFF) has announced the retention of Dr. Nima Ahmadvand, a veteran in intellectual property monetization, to enhance their IP monetization strategies. With a strong background in wireless technology and patent portfolio management, Dr. Ahmadvand aims to bolster Edgewater's efforts in IP licensing and technology transfer. This move aligns with the emergence of the WiFi7 standard, potentially accelerating the company's patent monetization initiatives. Edgewater Wireless leads in Spectrum Slicing technology, having secured 26 patents that significantly improve Wi-Fi performance.

Edgewater Wireless Systems (YFI: TSX.V, OTC: KPIFF) has announced a proposed non-brokered private placement of unsecured convertible debentures to raise up to $1,000,000. The debentures will mature in three years and holders can convert them into units priced at $0.12. Each unit consists of one common share and one warrant, with an exercise price of $0.23 for three years. The proceeds will fund general working capital needs, and the offering is subject to TSXV approval.

Edgewater Wireless Systems Inc. (OTC: KPIFF) has updated stakeholders on its 2022 Strategic Plan and significant progress in Wi-Fi Spectrum Slicing technology. The company successfully completed a Proof of Concept with a major Tier-1 Service Provider, demonstrating up to 18 times throughput benefit for homes. It is now focusing on next-generation silicon solutions amid industry shifts towards the WiFi7 standard. Edgewater's technology is poised to leverage the market's disruption caused by a competitor's exit from the WiFi6E market, enhancing its competitive position.

Edgewater Wireless Systems Inc. (OTC: KPIFF) has announced a significant milestone with the grant of U.S. patent number 11,356,308 for its Automatic Gain Control (AGC) in multi-channel communications. This patent enhances its Spectrum Slicing technology, aimed at reducing signal interference in Wi-Fi networks. With over 25 patents, Edgewater aims to leverage its IP portfolio for future growth and increased revenue. This innovation reportedly improves Wi-Fi throughput 7-18 times and reduces latency by 50%, positioning the company as a leader in the wireless hardware market.

Edgewater Wireless Systems (OTC: KPIFF) has announced the opening of its new headquarters in Kanata, Ontario, effective June 1, 2022. This relocation within Canada’s Largest Technology Park aims to foster innovation and consolidate operations, enabling a collaborative environment for growth initiatives. The company focuses on Wi-Fi Spectrum Slicing technology, designed to enhance service quality and performance. By situating in this technology hub, Edgewater aims to leverage local talent and build advanced laboratory facilities to advance customer engagements.

Edgewater Wireless Systems Inc. (OTC: KPIFF) announces an upcoming interview with Radius Research featuring President & CEO Andrew Skafel. The discussion will focus on the Company's innovative Spectrum Slicing technology, proven effective in pilot projects with Tier 1 service providers. The technology showcases significant performance improvements, with gains between 7 to 18 times reported in homes with many devices. The live webinar is scheduled for May 19 at 4:15 PM ET, allowing real-time Q&A for attendees.

Edgewater Wireless Systems Inc. (OTC: KPIFF) has announced a Notice of Allowance from the USPTO for its patent on Automatic Gain Control (AGC) in multichannel communication systems. This new intellectual property enhances its Spectrum Slicing technology across various wireless standards, including WiFi6/6E/7 and 4G/5G. With over 25 granted patents, Edgewater’s expanding portfolio solidifies its leadership in the multi-channel Wi-Fi market and supports future growth strategies. The advancements are expected to improve channel density and reduce latency significantly.