American Technology Corporation Releases Summary of Annual General Meeting of Shareholders; Toll-Free Playback of Meeting Available Through April 12.Business & Entertainment Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--April 6, 2001 American Technology Corporation  Please help [ improve this article] by expanding it.Further information might be found on the talk page or at requests for expansion. (Nasdaq:ATCO ATCO Air Traffic Control Officer ATCO Association of Transport Coordinating Officers (UK) ATCO Air Tanker/Fixed Wing Coordinator ATCO Aviation Transportation Coordination Office ATCO Air Taxi and Commercial Operator ), a licensor of innovative new sound technologies, held its Annual General Meeting of Shareholders Thursday in Escondido, Calif. BDO Seidman, LLP LLP - Lower Layer Protocol was ratified as independent auditors of the Company for its fiscal year ending Sept. 30, 2001, and Elwood G. Norris, Richard M. Wagner, David J. Carter David J. Carter is a politician and author from Alberta, Canada. Carter served in the Legislative Assembly of Alberta from 1979 to 1993. He became Speaker of the Assembly in 1986 and served until 1993. , and O'Connell J. Benjamin were elected as directors. Terry Conrad, president of American Technology, was added to the board of directors. Terry Conrad, president, and Elwood G. Norris, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , followed the formal business of the meeting with a presentation to shareholders summarizing the development and marketing programs for the Company's retail radio products and patented and patents-pending HSS HSS Humanities and Social Sciences HSS High Speed Steel HSS Home Subscriber Server (3GPP) HSS Hospital for Special Surgery (New York, NY, USA) HSS Hospital for Special Surgery HSS History of Science Society (TM), NeoPlanar(TM), StratifiedField(TM), and PureBass(TM) sound reproduction technologies. At the meeting, management announced that for the quarter ended March 31, 2001, the company, for the first time, had significant technology-related revenue. Management expects that technology and intellectual property-related revenue will continue to grow rapidly, providing the majority of the Company's revenues going forward. HSS HSS, a revolutionary technology patented by the company that allows extremely directional placement of audio from a transducer up to several hundred feet away, remains a focal point focal point n. See focus. for the Company. HSS customers include eSOUNDideas, Americhip Inc., and Bath Iron Works Bath Iron Works (BIW) is a shipyard located on the Kennebec River in Bath, Maine. Since its foundation in 1884 by Thomas W. Hyde, Bath Iron Works has built private, commercial and military vessels. , a General Dynamics company. The Company discussed milestones it has completed to create emitters and electronics to prepare HSS for applications ranging from point-of-purchase displays, customized trade show booths, and drive-through restaurants to megaphones, military communications, and home theater surround sound systems that do away with the need to wire side or rear speakers. This year, the Company expects to announce several more HSS licensees and the beginning of mass production of HSS emitters and electronics. NeoPlanar NeoPlanar, (Planar Magnetic Transducer technology, or PMT See photomultiplier tube. ), an ultra-thin, high-output magnetic speaker acquired by American Technology in 2000, was demonstrated in a cinema-style format from the stage and in an automobile stereo installation outside the theater. On April 4, the Company announced that it had agreed to a Letter of Intent with Harman International Industries Harman International Industries is an international audio equipment company. Brands
StratifiedField StratifiedField, American Technology's thin, formable, non-magnetic speaker technology, is expected to come to market this year. Customers for StratifiedField technology include Bath Iron Works, a General Dynamics company, HST (1) See Hubble Space Telescope. (2) An earlier asymmetrical modem protocol from U.S. Robotics that included error control and compression and transmits from 4800 to 14400 bps in one direction and from 300 to 400 bps in the other. , Authentic Ltd., a wholly-owned subsidiary of NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. , and Thomson Multimedia Inc. Additional audio companies interested in StratifiedField are in various stages of non-disclosure, evaluation, and negotiations for potential licenses from American Technology. PureBass PureBass, a wide-range, low frequency subwoofer technology featuring high output in a small size, is the newest of the company's featured intellectual property holdings. American Technology's first customer for PureBass technology is HST. The Company delineated plans to develop various sizes and models of PureBass for demonstration and delivery to several interested audio companies over the next four months. The Company also unveiled a new American Technology Corporation logo and provided shareholders with a preview of selected pages from its new Web site currently under development. The Web site is expected to be launched this month. Outside the theater, attendees were greeted with voice messages transmitted via an HSS beam and experienced a NeoPlanar 6-speaker stereo system built into a BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. sport sedan. Inside the theater, attendees saw and heard examples of the company's latest home theater, personal audio, consumer electronics, and cinema applications for HSS, NeoPlanar, StratifiedField, and PureBass sound reproduction technologies. The toll-free phone number for playback of the meeting is 888/509-0082. Playback will be available through April 12. About American Technology Corporation American Technology Corporation is shaping the future of sound by developing and licensing its technology and intellectual property portfolio which includes: the award-winning HSS(TM) and StratifiedField(TM) technologies; NeoPlanar(TM) (Planar Magnetic Transducer (PMT) technology); PureBass(TM) 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 100 U.S. and Foreign patents and patent filings to date. For more information on the Company and its technologies and products please visit our Web site at www.atcsd.com. Safe Harbor statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information contained here, the matters discussed in this news release contain forward-looking statements which involve risks and uncertainties, including the timely availability and acceptance of new products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. |
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