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American Technology Corp. Signs Agreement With HST

14 September 2000

American Technology Corp. announced a royalty-bearing manufacturing and license agreement for their Stratified Field(TM) (SFT(TM)) speaker and PureBass(TM) sub-woofer technologies with HST(R) Inc., a Southern California-based manufacturer of high quality composite components and assemblies. HST manufatures components for, among others, major guitar and drum manufacturers and JBL(R), a professional and consumer speaker division of Harman International. "After achieving a high degree of success as an OEM manufacturer, we began actively pursuing new growth and diversification, particularly in the area of our own branded products," said Tod Boretto, president of HST Inc. "Our search for new opportunities led us to ATC and their SFT thin-film speaker and PureBass sub-woofer technologies. Licensing SFT and PureBass for our own product line and offering our manufacturing services to other ATC licensees fit perfectly into our expansion plans." Boretto added, "Our experience with molding carbon fiber composite materials brings new levels of sophistication to the SFT transducer production process. After careful evaluation and research, we believe that the various industrial design capabilities offered by SFT will allow us to build new categories of speaker products and enter the Hi-Fi/Home Theater markets with a new brand known for innovation, new marketing concepts, unique distribution, and most importantly, high quality sound." Stratified Field Technology (SFT) is ATC's patent pending, non-magnetic, thin film loudspeaker technology. PureBass is ATC's patent pending sub-woofer technology providing for reduced distortion, higher performance, and the perfect match for the SFT thin-film speaker technology. SFT and PureBass together offer the audio and Home Theater consumer a superior listening experience at an affordable price. HST Inc. was founded in 1989 to specialize in high quality carbon fiber composite molding and manufacturing. HST's slogan, "Serious Engineering for Serious Fun" says it all. They have developed a successful global business through highly sophisticated engineering capabilities and by focusing on skilled technical sales to their OEM customers. Some of HST's many OEM products include composite golf club shafts for all the major golf club brands, drum parts, composite speaker parts for JBL, a division of Harman International, composite guitar necks, composite drive shafts for automobiles, and other OEM composite molded parts. HST employs approximately 500 people and maintains three manufacturing facilities in Southern California.