SAN DIEGO--(BUSINESS WIRE)--Sept. 27, 2001--American Technology
Corp. (Nasdaq:ATCO):
September 27, 2001
Dear Shareholder,
In. light of the tragic events that occurred in our nation on
September 11th and the attendant economic and market uncertainties, we
wanted to take this opportunity to update you and provide some
guidance in this brief letter.
After having met or spoken with our current and prospective
licensees as well as our military contacts, management does not expect
the terrorist acts to delay product development, implementation or
commercialization of our technologies. In fact, some of our military
business is now expected to grow as funding is becoming available for
a variety of applications that only our technologies, in particular,
HSS(TM), can address.
In the military arena, both the U.S. Army and Navy attended HSS
demonstrations and presentations by ATC representatives recently. In
particular, they have requested that we submit formal proposals to
them to accomplish specific objectives that require highly directional
sound. These involve the areas of countermine, counteroffense,
semi-secure non-radio communications, and ship defense against
approaching vessels with uncertain intentions. We have completed some
of the proposals and we are working with these agencies as well as
military contractors to exploit the benefits of our proprietary
technology and intellectual property. As mentioned in past shareholder
communications, we intend to build long-term relationships with the
defense establishment where we see growth potential and as a hedge
against cyclical and uncertain economic times.
ATC's audio technologies are more than simple replacements for
existing methods of sound reproduction. Our technologies are
revolutionary, providing benefits to licensees and customers that have
not been made possible before. HSS is the first commercially available
parametric array loudspeaker, and its implementation offers the first
cost-effective way to project a beam of sound to a precise location.
The list of anticipated applications such as advertising,
drive-through point of sale, personal communications, consumer
electronics and military applications is growing, as is our list of
interested customers.
Our Stratified Field(TM), NeoPlanar(TM), and PureBass(TM) acoustic
technologies are being commercialized; products are moving toward
volume manufacture, and further licensing activities are underway.
These technologies offer extremely high fidelity, are light weight,
and have several other favorable attributes that have previously
proved elusive to electronic product, loudspeaker, and automobile
manufacturers. Stratified Field consumer products are being
implemented by our licensee, Thomson. NeoPlanar has been licensed by
Harman International. We are on schedule to support NeoPlanar's
accelerated introduction into automobiles as well as into other audio
products and environments.
We are pleased to report that revenue derived from our
intellectual property base is growing, and that the value of our
technical work is being validated by successful evaluations, industry
acceptance and licensing agreements. We thank you, our shareholders,
for your support and look forward to further communications about
specific progress in the days ahead.
Sincerely,
Elwood G. Norris
Chairman & CEO
Terry Conrad
President
About American Technology Corp.
American Technology Corp. is Shaping the Future of Sound(R) by
developing and licensing its technology and intellectual property
portfolio which includes: the award-winning HSS(TM) (HyperSonic(TM)
Sound Technology); Stratified Field(R) Technology; NeoPlanar(TM);
PureBass(TM) Sub-Woofer Technology; and FM Sounds(TM) consumer radio
products. The company is establishing a strong portfolio of patents,
trademarks and know-how including over 110 U.S. and foreign patents
and patent filings to date. For more information on the company and
its technologies and products please visit our Web site at
www.atcsd.com. |
