Parametric Sound and Epsilon Electronics Sign License Agreement for
Hypersound(TM) Technology
POWAY, CA, Jul 23, 2012 (MARKETWIRE via COMTEX) -- Parametric Sound Corporation
(PAMT), a leading innovator of directed audio products and solutions, today
announced a License Agreement with Epsilon Electronics for the development and
introduction of consumer products employing the Company's patented HyperSound
technology. The arrangement is non-exclusive except for after-market automobile
products for which Epsilon retains two-year exclusivity rights subject to certain
conditions.
The license contemplates a six-month development term to create prototypes
thereafter followed by a three-year manufacturing term.
"This agreement underscores our commitment to executing strategic licensing deals
to deploy our HyperSound technology," said Kenneth F. Potashner, executive
chairman of Parametric Sound. "These partnerships will open the door for the
integration of our patented audio solutions into next-generation consumer
products."
"We are excited about the opportunity to launch products that offer consumers a
rich, immersive sound experience," said Jack Rochel, president of Epsilon
Electronics. "Partnering with a technology innovator like Parametric is a key
element of our strategy, and we anticipate this agreement will bring value to our
company and the products we offer."
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 for automobiles through its subsidiaries. Its
subsidiaries include Farenheit Technologies, Soundstream Technologies and Power
Acoustik Electronics. The company offers DVD (Digital Video Disc) players,
Bluetooth systems, ceiling mount monitors, MultiProcessor Interrupt Controller
(MPIC), and video accessories. It markets its products under Farenheit,
Soundstream Technologies and Power Acoustik brand names. 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:
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INVESTOR RELATIONS CONTACT:
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