SAN DIEGO, CA — (Marketwired) — 10/22/13 — Parametric Sound Corporation (NASDAQ: PAMT), a leading innovator of audio products and solutions, today announced it has filed a utility patent application with the United States Patent and Trademark Office (USPTO) to protect new innovations enabling its patented HyperSound directional audio speakers to be transparent. The Company also announced that it has also filed fifteen additional provisional patent applications with the USPTO this month as a part of its strategy to broaden and strengthen its intellectual property.
“We expect this important audio IP will enable revolutionary new consumer and commercial electronic products and enhance the performance of existing tablets, personal computers, mobile devices and televisions,” said Ken Potashner, executive chairman, Parametric Sound. “It also sets the stage for further innovation for an array of new products and capabilities that deliver focused audio to the user. We are discussing possibilities with industry leaders. Our strategy is to license our IP to strategic partners for consumer product deployment.”
“While we believe our 24 issued US patents and now 31 pending applications provide strong IP protection for broad uses of our technology in audio, we will continue to innovate and deepen our coverage as we prepare for planned consumer product launches in 2014,” concluded Potashner.
The Company-s audio systems reproduce standard audio content through patented and patent-pending processing and control electronics that reproduce audio in the air along an ultrasonic beam. The beam is generated by custom patented and patent-pending emitters, analogous to speakers in conventional audio systems. The latest innovation enables glass emitters to produce sound and is being developed for transformative applications in tablets, personal computers, mobile devices, televisions and commercial video displays. HyperSound has been installed in numerous commercial applications worldwide and has pilots underway for new commercial applications.
Parametric Sound Corporation is a pioneering innovator of directed audio solutions. With a substantial body of intellectual property, Parametric Sound is the foremost authority in the application of acoustic technology to beam sound to target a specific listening area without the ambient noise of traditional speakers. Distinct from surround sound, HyperSound immerses listeners in a robust 3D audio experience from just two speakers. The Company-s disruptive technology is being marketed to three global market sectors: Consumer Markets — for PCs, gaming, TVs, home theater and handhelds, Commercial Markets — for digital signage, kiosks and retail stores, and Health Care — for an out-of-ear solution being developed for the hearing impaired. For more information please visit the Company-s website at .
HSS is registered trademark of, and HyperSound is a tradename of, Parametric Sound. All other trade names used herein are either trademarks or registered trademarks of the respective holders.
This press release includes forward-looking information and statements. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management-s belief, as well as assumptions made by, and information currently available to, management. While the Company believes that expectations are based upon reasonable assumptions, there can be no assurances that goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include uncertainties regarding the ability to obtain additional patent protection, defend IP against competitors, produce commercial and consumer applications of its technology, obtain and retain licensees or customers in target sectors in a timely manner, the acceptance of existing and future products, the impact of competitive products and pricing, unanticipated delays in manufacturing and shipping products to customers, the timing and scheduling of customers- rollout plans, general business and economic conditions and other factors detailed in the Company-s Annual Report on Form 10-K and other periodic reports filed with the SEC. The Company specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
PARAMETRIC SOUND CONTACT:
Tracy Neumann
888-HSS-2150, Ext 509
or
INVESTOR RELATIONS CONTACT:
Dave Mossberg
Three Part Advisors, LLC
(817) 310-0051
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