American Technology (ATCO) Proposes to Change Name to LRAD Corp.; Helen Adams Nominated to Board
American Technology Corporation (ATC) (NASDAQ: ATCO) today announced that it has filed with the Securities and Exchange Commission (SEC) a preliminary proxy statement pursuant to which it intends to propose to its shareholders changing its name to LRAD Corporation and has nominated Helen C. Adams to be elected as an independent member of its board of directors.
Addressing the Company's proposed name change, Tom Brown, president and CEO of ATC, stated, "With improving operating results and the growing global recognition of LRAD as the worldwide standard in acoustic hailing devices, we believe changing our Company name to LRAD Corporation will create greater domestic and international awareness for our LRAD systems and open the door to greater interest from Wall Street and the worldwide investment community."
In connection with the corporate name change, the Company has reserved the ticker symbol 'LRAD' with NASDAQ.
Ms. Adams is being nominated to the Company's board of directors to fill the vacancy that will be created by Daniel H. Hunter's decision not to seek re-election after nine years of service.
Ms. Adams retired in 2009 as a partner with Deloitte & Touche LLP, certified public accounting firm. She has over 27 years of experience with Deloitte, and served in many leadership roles both within and outside the firm. Throughout her career, Ms. Adams has been a champion of process improvement within the accounting profession, and most recently served on Deloitte's National Steering Committee for the Assurance and Advisory Services Group.
Ms. Adams' experience and background with Deloitte was particularly focused on emerging technologies and alternative energy, including wind energy, solar, and other forms of clean technology. She is considered an international expert in the field, and frequently consulted with companies and power development professionals regarding complex issues facing companies in the independent power production industry in the US and abroad. Ms. Adams is currently the Chairman of the Board of Directors of Athena - San Diego, a professional organization for executive women in science and technology. Ms. Adams is a certified public accountant, and has a B.S. in Accounting from San Diego State University.
"We are pleased Helen has accepted our nomination and look forward to the shareholders' consideration of her nomination at our upcoming annual meeting," commented Brown. "Ms. Adams has considerable financial, accounting and alternative energy experience that would be a great asset to our board of directors."
"With our proprietary LRAD systems proving increasingly effective in clean energy applications with wildlife preservation and control issues, Helen's extensive knowledge and expertise in this area will prove invaluable in our efforts to grow our LRAD business in this emerging market," Brown added.
The Company has scheduled March 24, 2010 as the date for its annual meeting of shareholders.
Addressing the Company's proposed name change, Tom Brown, president and CEO of ATC, stated, "With improving operating results and the growing global recognition of LRAD as the worldwide standard in acoustic hailing devices, we believe changing our Company name to LRAD Corporation will create greater domestic and international awareness for our LRAD systems and open the door to greater interest from Wall Street and the worldwide investment community."
In connection with the corporate name change, the Company has reserved the ticker symbol 'LRAD' with NASDAQ.
Ms. Adams is being nominated to the Company's board of directors to fill the vacancy that will be created by Daniel H. Hunter's decision not to seek re-election after nine years of service.
Ms. Adams retired in 2009 as a partner with Deloitte & Touche LLP, certified public accounting firm. She has over 27 years of experience with Deloitte, and served in many leadership roles both within and outside the firm. Throughout her career, Ms. Adams has been a champion of process improvement within the accounting profession, and most recently served on Deloitte's National Steering Committee for the Assurance and Advisory Services Group.
Ms. Adams' experience and background with Deloitte was particularly focused on emerging technologies and alternative energy, including wind energy, solar, and other forms of clean technology. She is considered an international expert in the field, and frequently consulted with companies and power development professionals regarding complex issues facing companies in the independent power production industry in the US and abroad. Ms. Adams is currently the Chairman of the Board of Directors of Athena - San Diego, a professional organization for executive women in science and technology. Ms. Adams is a certified public accountant, and has a B.S. in Accounting from San Diego State University.
"We are pleased Helen has accepted our nomination and look forward to the shareholders' consideration of her nomination at our upcoming annual meeting," commented Brown. "Ms. Adams has considerable financial, accounting and alternative energy experience that would be a great asset to our board of directors."
"With our proprietary LRAD systems proving increasingly effective in clean energy applications with wildlife preservation and control issues, Helen's extensive knowledge and expertise in this area will prove invaluable in our efforts to grow our LRAD business in this emerging market," Brown added.
The Company has scheduled March 24, 2010 as the date for its annual meeting of shareholders.
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