Parametric Sound Provides Update
SAN DIEGO, CA -- (Marketwired) -- 04/09/13 -- Parametric Sound
Corporation (NASDAQ: PAMT), a leading innovator of audio products and
solutions, responds to inquiries regarding the Company's initiatives:
-- What is the status of the Company's licensing activity?
-- The Company has received substantial licensing proposals for its
HyperSound(TM) technology addressing key market verticals.
-- The Company has been approached by several industry leaders in key
target verticals to pursue strategic discussions and as a result
retained investment bank Houlihan Lokey.
-- The Company is deferring decisions to execute licenses as it
assesses strategic opportunities.
-- The Company is actively pursuing strategic discussions regarding
the Company and its technology.
-- What is the status of commercial pilot projects?
-- The Company continues to perform successfully on multiple pilot
-- Several pilots have been expanded based on successful results.
-- Commercial efforts are expected to produce broad-based rollouts
during the balance of 2013 and in 2014.
-- The Company has a growing pipeline of global applications for its
directed audio solutions.
-- Is the Company considering a discounted private placement commonly
referred to as a PIPE?
-- The Company is not considering a PIPE financing.
The Company is focused on the global commercialization of its
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. The Company is targeting its technology for new
uses in consumer markets including computers, video gaming,
televisions, home audio, health care and mobile devices. For more
information, visit www.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 may constitute forward-looking statements regarding
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 expectations are based
upon reasonable assumptions, there can be no assurances that goals
and strategy will be realized. Numerous factors, including risks and
uncertainties, may affect actual results and may cause results to
differ materially from those expressed in forward-looking statements
made by the Company or on its behalf. Some of these factors include
the uncertainties inherent in evaluating, pursuing and finalizing
possible strategic discussions including but not limited to
licensing, mergers, joint ventures, spin-offs or other corporate
transactions, the impact of competitive products and pricing, 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. The Company specifically disclaims any obligation to
update or revise any forward-looking statement whether as a result of
new information, future developments or otherwise.
888-HSS-2150 Ext 509
INVESTOR RELATIONS CONTACT:
Three Part Advisors, LLC
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