Thursday September 14, 9:14 am Eastern Time
Press Release
ATC Founder Elwood Norris Appointed CEO & Chairman as Cornelius Brosnan Resigns
Terry Conrad Promoted to President
Company Announces Technology Developments and Outlines Priorities
SAN DIEGO--(BUSINESS WIRE)--Sept. 14, 2000-- American Technology Corporation (Nasdaq:ATCO - news) a licensor of innovative new sound technologies, today announced its founder and director, Elwood G. Norris, has been appointed CEO and chairman and Terry Conrad has been promoted to president. Cornelius Brosnan, president and CEO since July, 1998, has chosen to resign his officer positions and from the Board.
Brosnan stated, ``As I look forward to new challenges, I am proud of ATC's accomplishments and the foundation set for future growth. ATC has tremendous technologies and a strong team dedicated to success.''
Norris stated, ``Terry brings a wealth of experience to his new position. With more than 15 years of specific sound industry experience, including the last two years with ATC, Terry has proven himself a leader in managing technical achievements and creating successful customer partnerships. His focus will now be on expanding our relationships with existing licensees and implementing licensing relationships with new customers.''
Commenting on technical developments, Conrad said, ``We recently announced our latest sound technology, PureBass(TM), a new, patent-pending, extended range sub-woofer technology that complements our existing line of speaker technologies including HyperSonic Sound(TM) (HSS(TM)), Stratified Field(TM) Technology (SFT(TM)), Planar Magnetic(TM), and Magnified Force(TM) Woofer (MFW(TM)). In recent weeks we have made another patent-pending breakthrough in our HSS technology improving both sound quality and intensity. As a result HSS will now achieve greater priority in our marketing efforts.''
Norris added, ``Our strategic focus is to fully implement SFT with existing licensees Thomson/RCA and HST Corporation and other expected SFT licensees. We are aggressively marketing our Planar Magnetic and PureBass technologies to specific market segments. I will be devoting most of my personal efforts to introducing and promoting HSS globally as a revolutionary new concept in sound. We are targeting more than 50 companies worldwide for our first round of HSS developers kits which are in process of being built. I will continue working closely with Bath Iron Works/General Dynamics.''
HyperSonic Sound is a revolutionary sound reproduction system. The most important quality of HSS is the ability to direct or focus sound into a tight beam, similar to a beam of light from a spotlight. Not since the development of the ``cone'' loudspeaker more than 75 years ago has any technology provided such a significant departure from conventional speakers and such a remarkable approach to the reproduction of sound.
About American Technology Corporation
American Technology is shaping the future of sound by developing and licensing its patented and patents-pending technology portfolio which includes: the award-winning HSS(TM) (HyperSonic(TM) Sound Technology); SFT(TM) (Stratified Field(TM) Technology); Planar Magnetic(TM); MFW(TM) (Magnified Force(TM) Woofer); PureBass(TM) Sub-Woofer Technology; and FM Sounds(TM) consumer radio products. For more information on the Company and its technologies and products please visit our web site at www.atcsd.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained here, the matters discussed in this news release contain forward-looking statements which involve risks and uncertainties, including the timely availability and acceptance of new products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission.
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Contact:
American Technology Corporation
Robert Putnam, 858/679-2114
robert@atcsd.com
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Looks like a change is in progress. There is an emphasis on increased marketing and deal making in the release.
Best, Savant |
