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HENDERSON, NEVADA, — October 06, 2010 — Parametric Sound Corporation today announced that it has completed the previously announced spin-off from LRAD Corporation (Nasdaq:LRAD). Parametric’s common stock is expected to begin "regular way" trading today in the over the counter market with quotations on the OTC Bulletin Board (OTCBB) quotation and trading system under the ticker symbol PAMT. Parametric Sound is focused on innovating directed audio solutions to customers primarily targeting digital signage, point-of-purchase, in-store networks and related markets and applications that benefit from sound that can be focused and controlled in specified locations.
“We pioneered the use of parametric sound for directed audio and have strong intellectual property in this market,” said Elwood G. Norris, CEO and inventor of the Company’s technology. “With my grant of an exclusive license for an improved electronics solution we expect our third generation product line (HSS®-III) to enhance the market opportunities for directed audio. Our pre-production prototypes evidence improved sound clarity, wider frequency response, reduced distortion and higher sound volume from less power, all at a lower cost. We are excited about the prospects for our new products in existing markets and the opportunity to explore uses of our improved technology in the emerging stereoscopic (three-dimensional or 3D imaging) marketplace to provide 3D audio for computers, entertainment and other applications.”
The Company, after rounding up for fractional shares resulting from the spin-off, has 15,306,064 common shares issued and outstanding. The Company established its corporate and sales office in Henderson, Nevada where it also intends to assemble and ship the new HSS-III line of directed audio products.
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 digital signage customer base was inherited from a spin-off completed in September 2010. Important new technology is now being applied to produce a dramatically improved third generation HyperSonic® sound product line –HSS®-III directed audio. Recent technology improvements produce a unique 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 www.parametricsound.com.
Jim Barnes, CFO
888-HSS-2150 Ext 3