Parametric Sound Appoints Two New Independent Board Members
Adds Technical and Business Expertise in Advance of New HSS-III Product Line
Introduction
HENDERSON, NV, May 09, 2011 (MARKETWIRE via COMTEX) -- Parametric Sound
Corporation (PAMT), a leading innovator of directed audio products and solutions,
today announced it has appointed Professor Seth Putterman and Dr. Robert Kaplan
as independent members of its Board of Directors. Putterman is a Professor of
Physics at UCLA and Kaplan is a retired business executive with extensive
experience in finance and retail trade. Dr. Kaplan and existing director Daniel
Hunter have been appointed as the members of a newly formed Audit Committee.
"We made a commitment to expand our Board of Directors following our spin-off as
an independent public company and we are very pleased to welcome two new Board
members," said Elwood G. Norris, founder, President and CEO of Parametric Sound.
"Seth is a brilliant and accomplished physicist with a deep understanding of
parametric acoustics. Since our spin-off, Seth has been a valuable technical
resource as we prepare to launch an exciting new directed audio product line. We
are honored and excited that he has agreed to a more formal role as a Board
member."
Norris continued, "Bob brings to the Board an extensive background in finance,
retail trade and global business. As a founding investor in Parametric at our
spin-off Bob has demonstrated his commitment to our future success and we are
very pleased he has agreed to join our Board and take on the additional duties as
an Audit Committee member. We look forward to his insights as we grow a global
directed sound business."
Additional biographical information follows:
Professor Seth Putterman Professor Putterman has been a full faculty member at
UCLA since 1970 where he is a Professor of Physics. His research areas include
nonlinear fluid mechanics and acoustics, sonoluminescence, friction, x-ray
emission and crystal generated nuclear fusion. He has served as a consultant to
government and industry including the Jet Propulsion Laboratory, TRW and the
Aesthetic Surgery Education and Research Foundation.
Professor Putterman is a Fellow of the Acoustical Society of America and the
American Physical Society and a past recipient of an Alfred P. Sloan Fellowship.
He was honored as the UCLA 2010-2011 Faculty Research Lecturer and frequently
provides plenary presentations at leading universities.
He has served as a Director of the Julian Schwinger Foundation for Physics
Research since 2002 and as a Panel Member for the Department of Defense's Defense
Sciences Research Council since 2007. He earned a B.S. from the California
Institute of Technology in 1966 and his Ph.D. from Rockefeller University in
1970.
Dr. Robert Kaplan Dr. Kaplan is a retired business executive with extensive
experience in the financial and retail sectors. He remains active as a director
of a family-owned Canadian-based mortgage lending firm and as Managing Director
of Beacon Consulting Group, a private firm specializing in assisting and
investing in early stage entrepreneurial entities that he founded in 1997. Prior
business activities include 12 years as a senior financial executive in the
investment brokerage industry. He was a founding partner of McCan Franchises
Ltd., the original Canadian franchisee of McDonalds Corp. From 2003 to 2009 he
was a director of Jet Gold Corp., a public Canadian resource exploration company.
Most recently in 2010, Dr. Kaplan was a Visiting Professor of Business at The
University of Warsaw where he assisted in establishing a program in
Entrepreneurship. Other prior visiting professorships include the European School
of Economics in Italy and The University of Canterbury, N.Z. In 2010 he was
recognized with a European Union Distinguished Scholar Award.
Dr. Kaplan earned an MBA from Harvard University in 1961 and a Ph.D. in Business
Economics from Michigan State University in 1967.
About Parametric Sound Corporation Parametric Sound Corporation is an innovator
of directed audio solutions employing a tightly focused directional beam of sound
to target a specific listening area to communicate without the ambient noise of
traditional speakers. A substantial body of intellectual property and an
established customer base were inherited from a spin-off completed in September
2010. Important new technology is now being applied to an improved third
generation HyperSonic(R) sound product line - HSS(R)-III directed audio. Recent
technology improvements produce a distinctive 3D audio image from just two stereo
HSS-III emitters opening opportunities for 3D sound solutions for computers and
entertainment. For more information about the Company and its products, please
visit: 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, including those by Mr.
Norris, may constitute forward-looking statements regarding our 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
its expectations are based upon reasonable assumptions, there can be no
assurances that the Company's goals and strategy will be realized. Numerous
factors, including risks and uncertainties, may affect the Company's actual
results and may cause results to differ materially from those expressed in
forward-looking statements made by or on behalf of the Company. Some of these
factors include the acceptance of new Parametric Sound products and technologies,
the impact of competitive products and pricing, the timely development and
release of products by the Company, 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. Parametric Sound Corporation specifically
disclaims any obligation to update or revise any forward-looking statement
whether as a result of new information, future developments or otherwise.
FOR FURTHER INFORMATION CONTACT:
Jim Barnes
CFO
888-HSS-2150 Ext 3 |
