SAN DIEGO, CA--(Marketwired - May 21, 2013) - Parametric Sound Corporation (
The Company engaged the California Hearing & Balance Center of La Jolla, California under the guidance of principal investigator, Dr. Ritvik Mehta, to conduct patient studies that commenced in April 2013.
"We are pleased to report that preliminary results from this scientific study confirm the outcomes from previously announced preference testing," reported Kenneth F. Potashner, executive chairman of Parametric Sound. "We consistently witness that more than 70% of persons with hearing loss prefer the clarity of HyperSound and many people are reporting dramatic improvement in hearing and clarity. We will report final results when the study is complete. We expect that HyperSound can enable products that can enhance the audio enjoyment of a broad segment of the aging and hearing impaired population."
According to a study in a November 2011 issue of Archives of Internal Medicine, hearing loss affects nearly 48 million Americans. For individuals 12 years and older in the United States, nearly 1 in 8 has bilateral hearing loss, and nearly 1 in 5 has a unilateral or bilateral hearing loss severe enough to interfere with day-to-day communication. The study further states that the prevalence of hearing loss is expected to rise because of the aging of the population. The Company believes one of the major issues experienced by the hearing impaired is lack of clarity in differentiating words from each other even with loud volume. The Company also believes its emitters may provide benefits in this area by delivering with clarity the frequencies important in speech recognition, thus improving the TV viewing experience by those with normal hearing, and by providing amplification for those with some hearing loss without the need for headphones or any coupling to the ear or body.
The Company also reported that it has hired Brian Kappus, Ph.D., as a senior research scientist with responsibility to focus scientific study and research on hearing and other novel applications of HyperSound technology. Dr. Kappus has more than twelve years experience in experimental and theoretical physics and pioneered new techniques in acoustical and light measurement. While recently working at UCLA he joins the Company with a thorough understanding of HyperSound technology and acoustics.
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. Distinct from surround sound, HyperSound™ immerses listeners in a robust 3D audio experience from just two speakers. The Company's disruptive technology is being marketed to three global market sectors: Consumer Markets -- for PCs, gaming, TVs, home theater and handhelds, Commercial Markets -- for digital signage, kiosks and retail stores, and Health Care -- for an out-of-ear solution being developed for the hearing impaired. For more information, visit www.parametricsound.com .
About California Hearing & Balance Center The California Hearing and Balance Center (CHBC) is a San Diego, CA based practice dedicated to Otology/Neurotology and Audiology. Founded in 2009 by Dr. Ritvik Mehta (MD) and Dr. Sara Mattson (AuD), The California Hearing and Balance Center provides full-service care for all hearing and balance needs. The practice includes full-service audiology, including diagnostics and audiology treatment. CHBC also specializes in implantable hearing devices including cochlear implants, implantable hearing technology, and bone anchored hearing solutions (including the latest SoundBite device). Its tinnitus center includes Tinnitus Retraining Therapy (TRT) and treatment of tinnitus with sound therapies including Neuromonics, OtoSound, and SoundCure. CHBC is well versed in working with the hearing healthcare industry and has been involved in clinical studies and consulting for tinnitus as well as hearing devices.
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 its expectations are based upon reasonable assumptions, there can be no assurances that its 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 issues that could bar or delay product marketing or limit product claims, 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. 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.
CONTACT: Tracy Neumann 888-HSS-2150, Ext. 509 tneumann@parametricsound.com INVESTOR RELATIONS CONTACT: Dave Mossberg Three Part Advisors, LLC (817) 310-0051
