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SYDNEY , May 28, 2012 /PRNewswire-Asia/ -- Audio Pixels Holdings Limited (ASX:AKP;OTCQX:ADPXY) announces that Fred Bart , Chairman of the company, presents an address at the AnnualGeneral Meeting of shareholders to be held at the Westin Hotel, Sydney at 09:00 am May 29 ( Sydney time). Full text of the address is as follows: "Ladies and Gentleman, Thank you for attending the 2012 Annual General Meeting of AudioPixels. I would like to start by acknowledging the management team andstaff, and my fellow directors who have worked tirelessly in thepursuit of our goals, to commercialise our industry game changingdigital speaker technology, and to make our company, Audio Pixels,a company of international standing. This past year we continued our focus on the development andcommercialisation of our digital speaker technologies into a highdemand competitive product. The overall objective remains the same,which is the delivery to the market of our digital speakertechnology innovation while securing solid margins for our company. We have made significant progress toward the concurrent completionof product development, in combination with the development of massproduction capabilities. In September 2011 , we successfully completed what was considered to be the mostcritical of the four top-level development milestones. This phaseinvolved a complete transition to more cost effective fabricationmethods combined with a very significant alteration andoptimisation of the electromechanical structure. All that withoutcompromising sound levels or sound quality. The results of this phase have exceeded expectations; not onlyenabling advancement to subsequent phases but in fact, doing so atan accelerated pace. The results of this phase were validated using proprietary highlyspecialised measurement equipment developed in-house. These resultshave proved the underlying theory, that the pressure generated fromthe far smaller structures is equivalent, if not greater to, thepressure generated in the earlier larger structures. As a resultthe company was able to proceed with the subsequent two phases ofdevelopment simultaneously (Phase 2 - geometrical optimisation for drive electronics, andPhase 3 - essentially a pre-production product). This should allowthe company to enter the final phase of development, which is afully integrated mass produced product earlier than originallyplanned. To support the expedited commercialisation efforts, the companysuccessfully attracted and engaged three of the world's leadingmicro electro mechanical systems ('MEMS') fabricators ('fabs').Since the beginning of 2012, all the fabs have been working inclose co-operation with the company to rapidly complete the nextphases of development. The shorter-term objective is thefabrication of demonstrable playing speaker chips using massproduction methods. If all goes as planned, the pre-engineering samples of playingchips will become available for market exposure in the last quarterof this year. Yole Development, the leading research firm tracking the MEMSindustry, recently forecasted that the MEMS industry would roughlydouble in size in less than five years (growing from US$10B achieved in 2011 to US$20B by 2016). Other industry experts have further predicated thatwithin the relative near future the MEMS industry will exceed the US$300B semiconductor industry. All experts point to the emergence ofnewly developed MEMS components and applications (including digitalspeakers) as the leading driver behind this phenomenal growth. Thismagnitude of opportunity permits, if not compels, MEMS fabricationcompanies, in particular world leading fabricators such as thosecurrently engaged with AP, to be highly selective when choosingwhere to devote their resources. As global market leaders in MEMSfabrication, all three fabrication partners are highly sought afterfor cooperation by MEMS application companies. Therein lies thesignificance of having three of the world's leading fabricatorspursue collaboration with Audio Pixels for the commercialisation ofour digital speaker technologies. Standing perhaps as an evengreater testament is that in the case of Audio Pixels, the fabs have decided to break from their normal practice and absorbthe majority of the significant costs involved with developing massfabrication methods . We believe that this unique situation offers a glimpse of theindustry's perception as to the value and potential of ourdisruptive digital speaker technology. I am sure, as a shareholder, you are also very interested in ourintellectual property. This year, the company reached a verysignificant milestone having secured patent grants for the firsttwo patent requests it submitted in 2006. On December 27, 2011 , the US Patent and Trademark Office (USPTO) issued patent number8085964 covering the fundamental speaker structure and itsoperation principles. This was followed by the USPTO's issuance toAudio Pixels of patent number 8126163 covering methods ofcontrolling volume and tones in digital speakers. During the pastyear the company submitted an additional four patent requests,expanding its already formidable IP portfolio to 17 applicationcategories. The company recently engaged Merriman Capital to serve as thePrincipal American Liaison (PAL) for Audio Pixels Holdings Limitedtrading on the OTCQX (ADPXY). Our recent engagement with Merrimanhas afforded management an early opportunity to begin itsconnection with the global financial community. It is increasinglyclear that we are rapidly gaining the recognition we deserve as theglobal leader of digital audio speaker technologies. In addition,our confidential discussions with most of the leading consumerelectronic and computing device original equipment manufacturers('OEM's'), has helped our value and brand gain significantworldwide market attention, acceptance and recognition. Looking back on the past year, our achievements have paved the wayfor what is surely to be a very exciting year ahead. In the comingyear, we anticipate making the formal introduction of our digitalspeaker technology into the marketplace with playing speaker chips. I want to assure you that the relative lack of information comingout of the company is simply the natural course of a company makingphenomenal progress in both the technological and business areas,whilst being prudent about not adversely affecting the company'sposition with unnecessary 'noise'. We do however anticipate that inthis coming year a number of very exciting activities will reachoptimal maturity, to share with shareholders and the broadermarket. Last but not least, I want to thank all shareholders for theircontinued support. Thank you for your attendance today. Fred Bart Chairman" Contacts: Ian Dennis Director Audio Pixels Holdings Limited Telephone: +61-2-9233-3915 SOURCE Audio Pixels Holdings Limited Copyright 2010 PR Newswire. All Rights Reserved. We are high quality suppliers, our products such as Touchscreen Panel PC , Multi Touch LCD Monitor for oversee buyer. To know more, please visits Electronic Interactive Whiteboard.
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