Edgewater Wireless (YFI.V) specializes in high-density WiFi applications. YFI.V's technology mitigates WiFi interference by enabling multiple, concurrent channels of transmit and receive from a single WiFi standards. The company manufactures its own chip set, radio and software.
We initiated coverage on March 2018. Since then, a number of releases have been issued by the company.
Mar. 27 - Receives FCC Certification for Power-Optimized 5 GHz Multi-Channel WiFi Module. EWC5XGWRF1 Power-Optimized Radio Card will be made available to select equipment manufacturers and solutions providers in the second quarter of 2018.
Mar. 29 - Manufacturing Partner SMTC Canada Exercises 0.8M Warrant. The strike price of each warrant was $0.375 for total value of $0.3M.
“This commitment by SMTC allows Edgewater Wireless to improve its financials by putting cash into the company, clearing up debt and strengthens our relationship with an important partner." - CEO of Edgewater Wireless.
Apr. 11 - Unveils Artificial Intelligence Radar for WiFi. Artificial Intelligence Radar (A.I.R.) detects and ranges any device with WiFi while intelligently adapting to coverage zones. It is the world’s first intelligent, real-time device tracking within any network coverage zone.
A.I.R. relies on patent-pending advanced algorithms to detect, range and track any WiFi-enabled device without the expense of additional monitoring hardware and no additional demands on network throughput or performance.
Apr. 23 - Introduces New Generation of High Performance WiFi3™ with Latest Firmware Update. The technology enhancements integrated into the latest firmware release were developed, in part, through close collaboration with partners and thought-leaders within the cable industry.
May. 1 - Applauds IEEE Research Paper: The Effects of Channel Bonding on Spectrum Utilization. Noting "The advantages of multiple, concurrent channels of transmit and receive in high density WiFi deployments are something we have consistently demonstrated with our WiFI3 technology.”
June 5 - Partnering with Wesley Clover Services Europe. Partnership entails Distribution of High Density WiFi Access Points in Europe.
June 28 - Applies to Extend Warrants. 4.7M shares set to expire on July 14, 2018 and July 24, 2018 will be extended by two years to July 14, 2020.
June 29 - Addition to the Board of Director. Chris McGilvray to join YFI.V's Board of Director.
July 16 - Awarded Approved Wireless Vendor Status with Mediacom Communications. MediaCom is the 5th largest cable operator in the United States – YFI will be working with them to introduce high-density applications in large enterprise, hospitality and venues.
July 25 -Announces $2.0 Million Private Placement Financing and Retains Echelon Wealth Partners as Financial Advisor. Terms are $0.16 cents with warrants at $0.24 cents. Proceeds for Manufacturing and Production to fulfill obligations with our Fortune 50 Customer and to scale for Cable Industry opportunities, as well as, engineering and product development along with working capital and operating expenses.
Aug. 10 - Applies to Extend Warrants. 6.1M shares set to expire on August 24, 2018 will be extended by two years to August 24, 2020.
Aug. 21 - Closes First Tranche of $2 Million Private Placement. $1.7M raised to date from the July 25th announcement.
In the last six months, YFI.V loss valuation by more than 66%. Initially, the FCC approval for EWC5XGWRF1 Power-Optimized Radio Card, the SMTC Canada re-investment, the Artificial Intelligence Radar (A.I.R.), and the Firmware update maintained a consolidation of the stock price. The IEEE paper endorsement which roughly coincided with a third party promotion (unknown to YFI.V) was short-lived. The stock price began to sharply decline thereafter. The subsequent insider purchases did not reverse the trend.
The announcement of the partnership with Wesley Cover Services (WCS) Europe also did nothing to mitigate the price decline. By the time the warrant extensions were made public, YFI.V was trading under $0.20 cents. The appointment of a new board member and the reception of approved vendor status with Mediacom also had little impact. Finally, the financing announcement at $0.16 cents exerted a strong selling pressure on the stock.
Its noteworthy to mention that Echelon Partners (who earlier in the year had a target of $1.25 for YFI.V) was retained as a Financial Advisor.
It is clear that with no sales announcement in the last six months, including no update on Kroger's engagement, YFI.V continues to lose valuation.
Today, the stock reached a 52 week low of $0.125 cents (unfortunately not a typo)! Nonetheless, in the last six months YFI.V's has continued its product development activities and formalized some partnerships. While the lack of sales clouds the horizons, there may be optimized resolutions ahead.
As for now, YFI.V is buffering.
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