On January 22, 2018, Zeff Capital L.P. announced that it has delivered a letter dated January 19, to Microwave Filter Company, Inc. in which Zeff Capital expressed an interest in acquiring all of the outstanding shares of common stock of the Company not already owned by Zeff Capital or its affiliates, for $.72 per share in cash, which the letter states represents a premium of approximately 19% over the latest 3 month average closing price. In addition, Zeff Capital stated that it do not believe that de-registering as an SEC reporting Company would be a solution, which would not alter any operational deficiencies or create value for shareholders or other stakeholders.