Weave-It Loom?

EDITED (4/29): Thank you to Jana who identified this as the earliest of Weave-it looms. The numbers are "wrong," and it had yet to be patented. Thanks, too, to those at Ravelry who gave me instructions on how to use this loom to make a perfect Weave-It square.

ORIGINAL POST: I'm trying to identify one of my 4" looms that I found at a thrift store. I assume it's a Weave-it loom, but the markings on the corners don't match other Weave-its I've seen. It's wooden with dove-tailed corners, and it has a #1 and #2 marked on it, kitty-corner to each other. There is also a red "W" with an arrow and another faint red arrow. On the back it says "Patent Applied For. Made in USA." Any ideas?

Mysteryloom1Mysteryloom2Mysteryloom3Mysteryloom4

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