Shares In Tiny OZ Sound Processor Company Sky Rocket
More than 50 of the worlds leading sound and technology Companies, have signed a non-disclosure agreement, to get information on a new sound processor that that is set to revolutionise audio output.
Fred Bart lives on Sydney’s North Shore, he chairs the listed Audio Pixel Holdings, which owns 100 per cent of Israeli company Audio Pixels Ltd
In essence Audio Pixels has developed technology that could change the size of digital speakers in a multitude of devices.
“It is shrinking a sub-woofer down to the size of my thumbnail,” Bart claims.
“I think it could literally replace all the analog speakers that are out there. It is phenomenally unique and totally disruptive.”
According to the AFR Audio Pixel shares have surged 244 per cent since January 1 and the company’s market capitalisation is now $786 million, with the value of Bart’s paper stake in the company reaching about $163 million after trading closed on Friday.
“The technology is capable of directional sound,” Bart says. “So you could, for example, have the chips put in light bulbs and have audio transmitted from there and have that true ‘surround sound’. Or you could walk into a retail store and be looking at washing machines and a promotional message be broadcast in that area. Then you could walk over to another section and another offer be broadcast. We think this can be revolutionary.”
Bart says the company is on track to provide a sample product by the last quarter of the calendar year, after years of extensive testing of the technology, which has already gone through three of four phases.
The technology generates sound waves directly from a digital audio stream using micro-electromechanical structures (MEMS) rather than conventional loudspeaker parts, encased in a small chip only one millimetre wide or thick.
“We’ve raised $42 million from investors over the years, and they have put in money every time we have asked,” Bart says. “And we have not used a broker to raise $1 of that.”
Former BRW Rich List member Laurence Freedman is one long-time shareholder, and the company is also part of the NASDAQ International Designation plan to promote its shares trading on the over the counter market in the US.
“We may contemplate migrating onto the NASDAQ, but the Australian market has been supportive of us,” Bart told the AFR.
Fred Bart has a questionable business track record having been involved in several failed businesses.