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Digital Speaker Development Update

TMCNet:  Digital Speaker Development Update

[February 14, 2013]

Digital Speaker Development Update

SYDNEY, Feb. 14, 2013 /PRNewswire via COMTEX/ -- Audio Pixels Holdings Limited (ASX: AKP and OTCQX: ADPXY) is pleased to advise that it has completed its second phase of development, which included the playing of music on its newly designed chips and has therefore commenced the third and most prominent phase of the development plan - the fabrication of product samples.

The ongoing development efforts to commercialize our digital speaker technologies into a high demand product realized a major milestone; the successful completion of the second of our four-phase product commercialisation plan. The first two phases of the plan were designed to focus on the optimisation of the individual electromechanical structures. The positive results attained from Phase-II, have now enabled the company to shift focus from structural optimization to the production of a completed high performance end product.

The positive outcome was a result of our exceptionally close collaboration with our fabrication partners, which began delivering Phase-II chips during the month of December 2012. These chips were exhaustively measured and tested using our newly designed proprietary test equipment. Planning for Phase III is well advanced.

About Audio Pixels Holdings Limited Audio Pixels Holdings Limited is a company listed on the Australian Stock Exchange with the code AKP and has its ADR's listed on the OTCQX market in the USA with code ADPXY. Audio Pixels Holdings Limited owns 100% of Audio Pixels Limited, an unlisted Israeli corporation that was founded in July 2006 and has developed a revolutionary technological platform for reproducing sound, thus enabling the production of an entirely new generation of speakers that will exceed the performance specifications and design demands of the world's top consumer electronics manufacturers.

Audio Pixels patented technologies employ entirely new techniques to generate sound waves directly from a digital audio stream using low cost micro-electromechanical structures (MEMS) rather than conventional loudspeaker elements. This innovation enables the production of speaker products that deliver performance that is many orders of magnitude better than conventional speaker technologies, all in an affordable package that is only one millimetre thick.

Audio Pixels MEMS-based Digital Sound Reconstruction platform enables the market for audio speakers to follow the evolution of the video display market from large, heavy analog tube based monitors to the digital flat panel displays of today. Driving the rationale for change in audio speakers is the ever-increasing demand for smaller, thinner, clearer sounding, more power-efficient speakers. Conventional speaker technologies remain deeply rooted in the original voice coil inventions of Alexander Graham Bell. The inherent limitations of such speakers prohibit the delivery of quality sound in smaller packages. Audio Pixels innovative patents in the fields of electromechanical structures, pressure generation, acoustic wave generation and control, signal processing and packaging, combine to forever change this paradigm.

Market research overwhelmingly suggests that both manufacturers and consumers alike are starving for real innovation in audio speakers, in particular for good quality sound in a form factor that is far more compliant with current device and lifestyle trends. While the industry at large has been able to digitize and shrink all other device electronics, the last remaining barrier is the speaker, which remains large, heavy, bulky and extremely restrictive.

Upon achieving mass production capabilities Audio Pixels plans to sell and/or license its products to the manufacturers of speakers and consumer electronic devices worldwide, which collectively consume billions of speaker units annually. Audio Pixels will produce and sell a single type of silicon chip that can be used either as a standalone speaker or cascaded in any multiples of the same chip in order to achieve the desired performance specifications. This modular paradigm is entirely unique to the audio industry, which today expends significant resources designing and specifying new drivers, acoustic chambers and drive electronics for each new device. Audio Pixels innovative approach not only facilitates maximum flexibility to its customers, it further enables the customer to calibrate on the design and production of a singular product model, maximizing economies of scale, while limiting overhead associated with multiple versions of products.

Management maintains active exchange with industry leading companies spanning a broad cross section of the MEMS and consumer electronic industries. Audio Pixels has already demonstrated the technology to potential customers and strategic partners.

Forward-looking statements This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of AKP and certain of the plans and objectives of AKP with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

Contact Person: Ian DennisPhone Number: +61-2-9233-3915Email: iadennis@bigpond.net.au SOURCE Audio Pixels Holdings Limited http://rt.prnewswire.com/rt.gif NewsItemId=HK60932&Transmission_Id=201302141819PR_NEWS_USPR_____HK60932&DateId=20130214

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