SAN DIEGO, California, April 9, 2013 – Parametric Sound Corporation (Nasdaq: PAMT), a leading innovator of audio products and solutions, responds to inquiries regarding the Company’s initiatives:
- What is the status of the Company’s licensing activity?
- The Company has received substantial licensing proposals for its HyperSound™ technology addressing key market verticals.
- The Company has been approached by several industry leaders in key target verticals to pursue strategic discussions and as a result retained investment bank Houlihan Lokey.
- The Company is deferring decisions to execute licenses as it assesses strategic opportunities.
- The Company is actively pursuing strategic discussions regarding the Company and its technology.
- What is the status of commercial pilot projects?
- The Company continues to perform successfully on multiple pilot programs.
- Several pilots have been expanded based on successful results.
- Commercial efforts are expected to produce broad-based rollouts during the balance of 2013 and in 2014.
- The Company has a growing pipeline of global applications for its directed audio solutions.
- Is the Company considering a discounted private placement commonly referred to as a PIPE?
- The Company is not considering a PIPE financing.
The Company is focused on the global commercialization of its HyperSound technology.
About Parametric Sound Corporation
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. The Company is targeting its technology for new uses in consumer markets including computers, video gaming, televisions, home audio, health care and mobile devices. For more information, visit www.parametricsound.com.
Cautionary note on forward-looking statements
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 the uncertainties inherent in evaluating, pursuing and finalizing possible strategic discussions including but not limited to licensing, mergers, joint ventures, spin-offs or other corporate transactions, the impact of competitive products and pricing, 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.
888-HSS-2150 Ext 509
INVESTOR RELATIONS CONTACT:
Three Part Advisors, LLC