xG Technology released a letter to shareholders from CEO Gary Cuccio. The letter states, among other things: "We are well-aligned to continue our growth trajectory resulting from our IMT and Vislink acquisitions, and we are continuing to evaluate accretive opportunities to drive growth. (...) we are well on our way in our cost cutting initiatives, which we foresee yielding an additional $5M in annual savings. As we proceed, we are evaluating the possibility of divesting our xMax division which we expect to decide upon in the coming quarter. (...) We all look forward to building on our current momentum, as we continue our mission to position IMT and Vislink as the global leaders in live video communications. (...) many observers expect traditional broadcasters to soon follow the lead of the early 4K adopter non-traditional broadcasters like Netflix and Amazon in upgrading their capabilities. As one of the first volume suppliers of 4K systems, we believe we are extremely well-positioned to capitalize on this technology shift as it takes place. (...) In closing, it is my honor to communicate our vision for xG Technology's future and to marshal our resources and initiatives to accomplish our goals."