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With heavy hearts and unspeakable disappointment, we announce precisionWave Corporation’s plan to halt operations effective immediately. Since precisionWave's initial corporate funding in 2004, additional planned operating funds were not secured, meaning that continued operation beyond this point could leave customers, suppliers or employees in financial jeopardy. We are unwilling to place these important people and entities at any risk. A significant instrument design partnership with a major test and measurement company looked to be a key source of operating funds. However, this project was abruptly cancelled several weeks ago due to an inexplicable last-minute budget mismatch. As well, the recent resignation of our founding CEO and another key founder, has left us unable to develop our innovative, high performance, low cost RF Vector Signal Generators, nor pursue our vision of low-cost RF instrumentation in general. If you are aware of anyone who may be interested in IP related to RF Vector Signal Generators, we would very much appreciate the opportunity to talk with them. We are grateful for your past support and ready encouragement. We wish you the very best in your continued endeavors. Kind Regards, Steve Williams, CEOprecisionWave Corporation
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