Parametric Sound Signs Letter of Intent to License Hypersound(TM) Technology to
Epsilon Electronics
POWAY, CA, Jun 05, 2012 (MARKETWIRE via COMTEX) -- Parametric Sound Corporation
(PAMT), a leading innovator of directed audio products and solutions, today
announced that it has signed a Letter of Intent with Epsilon Electronics. The
letter specifies the principal terms of a definitive license and manufacturing
agreement including expected up-front licensing fees and ongoing product
royalties.
Epsilon is one of the world's largest manufacturers of aftermarket audio and
video products for automobiles, with distribution in over 70 countries. While a
number of consumer products are anticipated to be developed and introduced under
the planned agreement, the arrangement will be non-exclusive except for
after-market automobile products for which Epsilon retains two-year exclusivity
rights subject to certain conditions.
"Parametric Sound's IP licensing strategy is structured to enable companies such
as Epsilon Electronics to offer innovative new products and applications
utilizing directed sound," said Kenneth F. Potashner, executive chairman of
Parametric Sound. "We look forward to a long term relationship with Epsilon."
"New, disruptive audio technologies are becoming increasingly important in home
and automotive consumer products," said Jack Rochel, president of Epsilon
Electronics. "We look forward to working with Parametric, and believe this
partnership enables our brands to provide advanced solutions to our global
customer base."
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. Recent innovations produce a distinctive
3D audio image from just two speakers opening opportunities for 3D sound
solutions for computers and entertainment. For more information, visit
parametricsound.com.
About Epsilon Electronics Corporation Epsilon Electronics, Inc. manufactures and
markets audio and video systems specially for automobiles under the brands
Farenheit, Soundstream and Power Acoustik. The company offers DVD (Digital Video
Disc) players, Bluetooth systems, ceiling mount monitors, MultiProcessor
Interrupt Controller (MPIC), video accessories, speakers, amplifiers and sound
processors. Epsilon Electronics, Inc. was founded in 1981 and is based in
Montebello, California.
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.
Potashner, 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.
MEDIA CONTACT:
Tracy Neumann
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Email Contact
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INVESTOR RELATIONS CONTACT:
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Three Part Advisors, LLC
817-310-0051 |
