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Independent Reviews for Venture Investors

YFI.V - Authentication.

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 with a more recent note in August 2018. Here's an update since:

Aug. 29 - Reports Fiscal Year 2018 (End 4/30) Financial Results and Issues Letter to Shareholders: Involvement: CableLabs / UpRamp, the Wireless Broadband Alliance and innovative companies like Kroger Corporation and most recently Mediacom.

Kroger - Awarded 1.1M PO: Over the next 6-12 months we will continue to fulfill... a potential three year, $25M opportunity.

Mediacom - Approved Wireless Vendor: Refined product features with requirements for large operators and working to open up new opportunities.

WCS Europe: Distribution partner:

Cable Industry: Working with four out of the top five largest cable operators — at stages ranging from commercial discussions to pilots and WiFi3™ innovation projects (Residential and Industrial).

Exiting 2018, our backlog was $1.1M compared to $0.1M in 2017.

Sep. 10 - Closes Second Tranche of Private Placement - (Dated July 25, 2018) Issued 11M units at $0.16 cents for $1,8M . Warrant $0.24 cents.

Oct. 1 - Reports First Quarter 2019 Results and Issues Update to Shareholders. Successful launch of two new products into production in Q1’19 Commenced regular production and shipment aligned to customer(s) deployment requirements. Gross Margins of 25.5%, a significant increase over the quarter ended July 31, 2017 Q1 2019 revenues of $77,700 which exceeded total Fiscal Year 2018 revenues.

We expect profitable partnerships as we expand from our Enterprise WiFi (business) focus to include the larger Residential WiFi (home) market. Cableco's biggest problem is dealing with the proliferation of WiFi devices and WiFi3™ is at the forefront. Order backlog is $1,066,341.

Oct. 11 - Introduces Latest aera™ FLUID MX Controller Features for Enhanced Network Performance. FLUID MX Controller allow network managers and operators to centrally manage large-scale networks powered by WiFi3™.

Oct. 23 - Hires Brunswick Street Advisory (IR services) - companies in the media, telecom and technology sectors.

Oct. 26 - CEO to Speak at 2018 Wireless Global Congress. Mr. Skafel will speak in the Innovation Segment on Wednesday, October 31.

Oct. 31 - Collaborates with Major Tech Companies Positioning WiFi as Key Foundation of 5G. Demonstrated Next-Generation Hotspot (“NGH”) provisioning at WBA’s annual Wireless Global Conference.

During the demonstration, YFI.V's aera access point took an authentication request a WiFi client, contacted a server configured by Nokia, and passed back a secure authentication package that initiated a dynamic handover to a secure network – all without the phone user’s involvement.

“As 5G moves forward, Edgewater is working alongside technology giants and disruptors that are developing applications on our chipset, to ensure that commercial and residential WiFi will not just meet but exceed user expectations, which will continue to grow rapidly.”

Nov. 8 - Announces Grant of Stock Options - 4M options at 0.16 cents. 33% immediately, 33% within 12 months, 33% within 24 months.

Nov. 27 - Completes Upgrade of aera™ High-Density WiFi System at Wagener Stadium in the Netherlands. It is the first network in the world powered by YFI.V's Multi-Channel Single Radio (MCSR) technology, using FLUID MX Controller. The stadium holds approximately 9,000 guests.

Dec. 19 - Q2 2019 Earnings and Update to Shareholders. Commenced production and shipment aligned to customers(s) deployment requirements; Continue to develop and implement applications in concert with industry leading, global players such as Comcast and Nokia. Q2 2019 revenues of $127,900 which marked sequential quarter on quarter growth of 64.6% and growth over the same quarter a year earlier of 484% - 1M backlog.

Jan. 17 - Webinar: The Numbers Game Explained.

Feb. 8 - Awarded Patent for Automatic Gain Control (AGC) for Multichannel/Wideband Communications System. AGC enables Edgewater’s MCSR networks to deliver more effective, error-free reception and more efficient, data-rich transmission of multi-channel signals.

The company has more than 24 patents in its intellectual property portfolio, created to protect its unique MCSR approach to solving the problems of substandard WiFi and wireless performance in high-density residential and commercial environments.

Feb. 13 - Featured in 5G Connectivity Demonstration Video.

Feb. 15 - Webinar: Spectrum Optimization Means Better WiFi.

It has been a turbulent six months for YFI.V. Again more devaluation, overall going from $0.15 to $0.09 cents. In addition to closing a placement and issuing options at ($0.16 cents), three earning results have been reported in the period. While the revenue trend is positive (Q1 -$77,000), (Q2 - $127,000), the numbers are still relatively low given the size of the opportunity reported by the company. Last backlog numbers were estimated at $1M.

Hence, a new product introduction (aera Fluid MX) and the hiring of Brunswick Street Advisory (Investor Relations) did not mitigate the downward trend in October 2018. Even, discounting November to December 2018 activities due to macroeconomics market forces, a recovery is not evident in 2019.

The awarded US Patent was a definite win but its impact on valuation, short-live. From mid-February YFI.V is down and actively testing S1 (0.09 cents).

Granted, a number of promotions (i.e. Conferences, Demonstration, Webinar) have been communicated but the market is not convinced. Thus far, the activity is akin to a delayed authentication process, where more pragmatic information (contract wins) is required for the market to buy in.

DISCLAIMER: The work included in this article is based on current events, technical charts, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The content of rally is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions - rally cannot take responsibility for your investment decisions.


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