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Technologies Sonomax Inc SXHHF

Sonomax Technologies Inc engages in the development, commercialization and sales of intra-ear technology for earphones, hearing protection, hearing enhancement, and other communication applications.


GREY:SXHHF - Post by User

Post by GACABon Oct 24, 2012 9:36am
228 Views
Post# 21368890

Given up on earphone market?

Given up on earphone market?

Seems to me as if they have given up on the earphone market and scuplted eers....look at the recent press release and the Sonomax website, the focus is now on hearing protection rather than sculpted eers.

This is big because Sonomax always stated that the growth and potential was in the earphone market due to its enormous size and the fact they only needed a very small part of this market to make large returns. Now they are focusing on a much smaller market.

This Management team have a track record (IMHO) of being unable to deliver on a business plan but yet never seem to be held accountable.

Who believes that they can execute this plan? I don't.

Focuses Core Business on Hearing Protection & Communications Products

Montreal, October 23, 2011 - Sonomax Technologies Inc. (TSX-V: SHH) is pleased to announce that its new Self-Fit hearing protection device, which has been 18 months in development, is now ready for pre-sales. The product will be showcased at the upcoming National Safety Council Congress & Expo in Orlando, Florida from October 22-25 as well as at The Safety Show in Sydney, Australia from October 23-25. Sonomax currently has orders for 10,000 units. In addition, Sonomax reports that Master Distributors for the new Self-Fit hearing protection device have been set up in the United States, Europe, Africa and Oceania.

“With 100,000 users, the industrial business is one in which Sonomax has gained an excellent reputation over the years, particularly in the mining sector with such notable clients as BHP Billiton in South Africa and Australia” said Nick Laperle, Sonomax’s President & CEO. Mr. Laperle added, “Sonomax will focus on selling hearing protection and communication devices to the mining, oil & gas and heavy industries in 2013.” To view the new Self-Fit hearing protection video, click here.

General Update

Licensing. Sonomax has engaged the services of MADE Global Brands to continue its previously-announced licensing initiatives. Under the terms of the new agreement, MADE will receive a 10% agent fee only on generated revenues. The agreement is success-based and allows MADE to earn up to a 19% equity interest in Sonomax based on the achievement of major milestones, subject to regulatory approval. This agreement will allow Sonomax to focus almost exclusively on hearing protection in 2013-2014.

Ongoing R&D. While R&D is still at the core of Sonomax’s long-term success, the Company will rely on its Research Chair partners at the École de technologie supérieure (ETS) in Montreal to advance the path towards the Bionic ear and other important initiatives in the product-development pipeline. Sonomax will seek development contracts from OEM and ODM customers to support its infrastructure and will focus on maximizing the value of its Intellectual Property portfolio.

About Sonomax

Sonomax Technologies makes the world’s most advanced hearing protection products to prevent the # 1 occupational disease, Noise Induced Hearing Loss (NIHL). The Company offers OEM, ODM and aftermarket clients a broader range of opportunities in customized earpieces using SonoFit for the Consumer, Military and Health markets.

For more information contact:

Nick Laperle
President & CEO
Sonomax Technologies Inc.
nlaperle@sonomax.com
P. 514-932-2674 ext 2229
TSXV: SHH


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