American Technology Corp. Announces Cooperative Research and Development Agreement With U.S. Army American Technology and U.S. Army Collaborate on Military Applications of Company's Sound Technologies
SAN DIEGO, Jan 25, 2002 (BUSINESS WIRE) -- American Technology Corp.
(NASDAQ: ATCO), a leading innovator of new sound technologies, announced today
that it has entered into a CRADA (Cooperative Research and Development
Agreement) with TACOM-ARDEC (Tank-Automotive and Armaments Command -- Armament
Research, Development, and Engineering Center), a division of the United States
Army at Picatinny Arsenal, N.J.
American Technology Corp. (ATC) and TACOM-ARDEC are collaborating to further
advance ATC's sound technologies in military applications such as non-lethal
weapons, psychological warfare and secure communications.
"This CRADA is an important milestone in our overall plan to grow our government
contracting and supply business," said Terry Conrad, president of ATC. "This
agreement validates the ability of our directed acoustics technologies to assist
the armed services. The successful completion of this CRADA is expected to yield
specific military product applications of ATC's sound technologies."
Under the terms of the CRADA, entitled "Application of Acoustic Technologies,"
ATC will provide specific hardware, proprietary information, and certain
transfers of technology to TACOM-ARDEC for evaluation and enhancement of
specified military applications. The technologies in the agreement include ATC's
proprietary HyperSonic(TM) Sound (HSS(TM)) and Directed Stick Radiator (DSR).
Funding from Department of Defense agencies and other government and commercial
sources to support the CRADA is expected after preliminary evaluations are
completed.
"We are confident that our technologies can provide improved tactical
capabilities for the armed services and the security of our nation," added
Conrad. "We are pleased with the increasing government awareness of ATC and our
sound technologies and expect the military side of our business to significantly
enhance the revenue growth of the company."
American Technology Corp. also announced that it is beginning production of its
first HSS commercial products this quarter.
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(R) (HyperSonic(R) Sound Technology); Stratified Field(R)
Technology; NeoPlanar(R); PureBass(R) 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 visit our Web site at www.atcsd.com.
Safe Harbor statement under the Private Securities Litigation Reform Act of
1995: This document contains forward-looking statements relating to future
performance, technology and product development that may affect future results
and the future viability of the company. Actual results could be affected or
differ materially from those projected in the forward-looking statements as a
result of risks and uncertainties, including future products and results,
technological shifts, potential technical difficulties that could delay new
products, competition, general economic factors, pricing pressures, the
uncertainty of market acceptance of new products and services by OEMs and
end-user customers, and other factors identified and discussed in the company's
most recent filings with the Securities and Exchange Commission. These
forward-looking statements are based on information and management's
expectations as of the date hereof. Future results may differ materially from
the company's current expectations.
CONTACT: American Technology Corp., San Diego
Robert Putnam (investor relations), 858/679-3168
robert@atcsd.com
or
Donald Mathias, 949/855-4520
Cell: 714/931-6846
dwmath@aol.com
URL: businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2002 Business Wire. All rights reserved.
KEYWORD: CALIFORNIA NEW JERSEY
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
GOVERNMENT
HARDWARE
SOFTWARE
TELECOMMUNICATIONS
SOURCE:
American
Technology
Corp. |
