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Edgewater Wireless trading frenzy continues

Edgewater Wireless

Edgewater Wireless There’s been a lot of focus on the lack of liquidity of many TSX Venture Exchange stocks of late, but at least one tech junior is having no problems attracting investors by the boatload.

Edgewater Wireless Systems (Edgewater Wireless Systems Stock Quote, Chart, News: TSXV:YFI) is an Ottawa-based company that was formed in 1988 as a spinoff of an established defense R&D contractor, Edgewater Computer Systems. The company went public through an RTO three years ago.

While shares of Edgewater, which markets a line of multi-channel WiFi access point products, languished through much of its public existence, 2015 has seen the stock take off like a rocket. The company has leapt from just three cents in March to close at $0.425 today, a 19.7% bump from yesterday. Many recent days have seen the stock trade more than 10-million shares.

The most recent catalyst for action of Edgewater was the May 29th news that it had received notice of allowance from the U.S. Patent and Trademark Office for a U.S. patent application on automatic gain control (AGC) for multichannel/wideband communications systems.

Edgewater says its technology solves pervasive problems in delivering WiFi in high-density scenarios. The company says the multichannel architecture of its WiFi3 products deliver high quality WiFi in high density environments like stadiums and shopping centres.

“We’re increasingly seeing service providers looking to solve the issues of interference, connectivity and QoS that exist in high-density WiFi environments,” said CEO Andrew Skafel recently. “These issues are starting to dominate the $26.1-billion WiFi market and Edgewater Wireless is uniquely positioned to address these issues. Where others are static in the advancement of their technology we are building innovative new ways to maximize WiFi performance and QoS. Beyond the obvious technical advantages we gain with this new patent award, its addition to our patent portfolio instantly creates more value and revenue potential to the licensing side of our business.”

While the company may be addressing multi-billion dollar markets, little of that has yet to trickle down to its balance sheet. Edgewater Wireless has produced scant revenue to date.

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

Comment

  1. “The company has leapt from just three cents in March to close up 19.7% to $0.425 today.”

    Pretty sure 3 cents to 42.5 cents is more than 19.7%. More like 1416.67%!

    Not what you were trying to say? Maybe consider rephrasing this sentence. Perhaps this:

    The company has leapt from just three cents in March to $0.425 today, up 19.7% from yesterday’s close.

    or, depending on the time you wrote this…

    The company has leapt from just three cents in March to $0.425 yesterday, up 19.7% from the previous day’s close.

    Of course, you could also state the actual day of the week, depending on your preference:

    The company has leapt from just three cents in March to $0.425 today, up 19.7% from Tuesday’s close.

    Whatever, just make sure it makes sense, which it didn’t before.

  2. A huge pump and dump scheme, abetted by the CanTech Letter (unintentionally, I’m sure).

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