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Summit Wireless Technologies Provides First Quarter Update

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SAN JOSE, Calif.–(BUSINESS WIRE)–Summit
Wireless
Technologies, Inc. (NASDAQ: WISA), a leading provider of
immersive, wireless sound technology for intelligent devices and
next-generation home entertainment systems and founding member of the
WiSA Association, provided an update for the first quarter ended March
31, 2019.

“Our goal of establishing the WiSA standard as the brand trusted by
consumers for wireless immersive sound for smart devices is accelerating
as evidenced by our recent highlights and product rollouts,” said Summit
Wireless President and CEO Brett Moyer. “As WiSA Ready™* TVs, WiSA
Certified™ speakers and AV receivers and WiSA USB Transmitters reach the
retail shelves in the third quarter, we are excited to bring wireless
immersive sound to consumers around the world. With our customer’s WiSA
enabled products expected in 1,000 retail storefronts by year-end, we
believe we are well positioned for growth.”

Recent Highlights

  • First Quarter 2019

    • Revenue was $465,000, representing an increase of 65% over the
      first quarter of 2018 and in line with guidance.
  • WiSA Association Membership

    • 60+ brands, including many international, top-tier consumer
      electronics brands.
  • Product Rollout

    • LG began shipping industry-leading OLED and Nano televisions as
      WiSA Ready and commenced its global marketing launch of the WiSA
      Ready feature.

      • US marketing launch:

        • Actively training distributors and retailers.
      • European marketing launch:

        • Kicked off at the HIGH END 2019 trade show in Munich on
          May 8th.
      • System
        Audio
        ’s Legend Silverback launched WiSA certified speakers
        that present a unique family of active speakers that can be
        used wirelessly with a WiSA hub or WiSA USB Transmitter or
        connected to a preamplifier. The SA Legend 40 Silverback was
        recently showcased at the HIGH END 2019 trade show in Munich,
        the floor standing speaker earned the “Best of HiFi Award”
        from Germany’s HiFi Eins Null Magazine.
      • Klipsch®
        Reference Wireless speakers, set to be available in June 2019,
        earned WiSA certification. This line of Klipsch loudspeakers
        was awarded “Best of CES” from Digital Trends, AVS Forum, and
        Hi-Def Digest at CES 2019.
      • Harman rolled out its Citation line of certified speakers in
        March across North America.
  • Strategic Partnerships

    • THX
      Ltd
      . partnered with WiSA to develop and release modules that
      are approved by THX™ and certifications for Summit Wireless
      customers and partners. With this partnership, THX joins the WiSA
      member network with certified products slated for launch later
      this year.

Summit Wireless Investor Update Conference Call

Summit Wireless will host a conference call at 9:00 a.m. Pacific Time
today, May 15, 2019, to provide a business update. Shareholders and
interested participants may listen to a live broadcast of the conference
call by dialing 323-994-2082 or 866-575-6539 and referencing code
7875472 approximately 10 minutes prior to the start time. A live webcast
of the call will be on the investor relations section of the company’s
website at ir.summitwireless.com
and available for approximately one year. An audio archive can be
accessed for one week by dialing 412-317-6671 or 844-512-2921 and
entering conference ID 7875472.

About Summit Wireless Technologies, Inc.

Summit Wireless Technologies, Inc. (NASDAQ: WISA) is a leading provider
of immersive, wireless sound technology for intelligent devices and next
generation home entertainment systems. Working with leading CE brands
and manufacturers such as Harman International, a division of Samsung,
LG Electronics, Klipsch, Bang & Olufsen, Xbox, a subsidiary of
Microsoft, and others, Summit Wireless delivers seamless, dynamic audio
experiences for high-definition content, including movies and video,
music, sports, gaming/esports, and more. Summit Wireless is a founding
member of WiSA, the Wireless Speaker and Audio Association and works in
joint partnership to champion the most reliable interoperability
standards across the audio industry. Summit Wireless, formerly named
Summit Semiconductor, Inc., is headquartered in San Jose, CA with sales
teams in Taiwan, China, Japan, and Korea. For more information, please
visit: www.summitwireless.com.

* WiSA Ready TVs, gaming PCs and console systems are “ready” to transmit
audio to WiSA Certified speakers when a WiSA USB Transmitter is plugged
in and a user interface is activated through an APP or product design
like LG TVs.

© 2019 Summit Wireless Technologies, Inc. All rights reserved. Summit
Wireless Technologies and the Summit Wireless logo are trademarks of
Summit Wireless Technologies, Inc.

Safe Harbor Statement

This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Readers
are cautioned not to place undue reliance on these forward-looking
statements. Actual results may differ materially from those indicated by
these forward-looking statements as a result of risks and uncertainties
impacting Summit Wireless’ business including, our ability to predict
the timing of design wins entering production and the potential future
revenue associated with our design wins; our rate of growth; our ability
to predict customer demand for our existing and future products and to
secure adequate manufacturing capacity; consumer demand conditions
affecting our customer’s end markets; our ability to hire, retain and
motivate employees; the effects of competition, including price
competition; technological, regulatory and legal developments;
developments in the economy and financial markets and other risks
detailed from time to time in Summit Wireless’ filings with the
Securities and Exchange Commission.

Contacts

Mary Magnani or Kirsten Chapman
Investor Relations
Summit
Wireless Technologies
415.433.3777
summit@lhai.com

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Business Wire

Lemonade Day Leaders Participate in Ceremony Celebrating Passage of HB 234, “Save Our Lemonade Stands Bill,” With Texas Governor Greg Abbott and State Legislators, Announce Sept. 1 Launch of Statewide Campaign

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AUSTIN, Texas–(BUSINESS WIRE)–#Austin–Lemonade Day leaders and young entrepreneurs joined Texas Governor Greg Abbott, Representative Matt Krause and Senator Jane Nelson today for a ceremony at the State Capitol -celebrating the signing of HB 234, dubbed the “Save Our Lemonade Stands Bill.”

Earlier this year, Lemonade Day National President Steven Gordon testified in support of the bill during the 86th Legislative Session along with Austin-based Lemonade Day youth entrepreneurs Branson Burton, Mikaila Ulmer, and Sidharth Srinivasin. Gordon, Burton and Srinivasin attended the ceremony today with other supporters.

Following the ceremony, Gordon announced preliminary plans to launch a statewide campaign on Sept. 1, 2019 — coinciding with the date that the new law goes into effect — to encourage Texas kids to host lemonade stands during the 2019-2020 school year. Gordon said he is working with corporate sponsors and community volunteers to schedule informational events in key Texas cities during the month of September.

“I am proud to have signed HB 234, ensuring that children in Texas will no longer require a permit to operate their lemonade stands. Passing the Lemonade Stand Bill encourages entrepreneurship and allows our children to learn the business skills they will need to thrive in the future. I invite ambitious young Texans to take advantage of this common-sense law, and channel the entrepreneurial spirit for which the state of Texas is known,” Governor Abbott commented.

Governor Abbott signed HB 234 into law on Monday June 10, using Twitter to share the news. In a 27-second video that has since garnered extensive social and mainstream media attention, Governor Abbott is shown signing the bill into law, raising a glass of ice-cold lemonade and saying, “So kids, Cheers!” Governor Abbott’s video went viral and attracted national media attention not only for its message and its creative delivery, but also for what it signals for young kids who want to host lemonade stands and get a taste of “sweet success.”

Krause and Nelson also weighed in:

“I am honored to have Governor Abbott sign House Bill 234 into law. This legislation ensures that Texas’ youngest entrepreneurs are able to cultivate the skills needed to be successful business professionals and fights back against overreaching municipal governments,” Krause said.

“It is difficult to imagine that some Texas children were prohibited from operating a lemonade stand. I am proud to sponsor this new law that encourages young entrepreneurs by legalizing lemonade stands in Texas,” Nelson commented.

“I am especially grateful to Governor Abbott, Matt Krause, Jane Nelson and the entire Texas legislature for their support of this bill. The positive implications are huge for kids in Texas who want to engage in the powerful entrepreneurial lessons that hosting lemonade stands can deliver. Research by the venerable Gallup polling organization proves that kids in our Lemonade Day youth entrepreneurship program are more likely to start businesses as adults. Kids can register to participate in our Lemonade Day program for free. We provide kids and their adult mentors access to instructional tools that guide them through the steps that will make their experience in hosting a lemonade stand profitable and fun,” said Gordon.

Background

On Sunday, May 26, one day before the 140-day 86th Legislative Session wrapped up, Texas HB 234 passed. Texas HB 234 was introduced by House Representative Matt Krause and co-sponsored by Senator Jane Nelson. The bill amends the Local Government Code, Chapter 250, and the Property Code, Chapter 202. These amendments prohibit local jurisdictions from regulating the sale of lemonade or other non-alcoholic beverages by children in certain locations. The amendments also will prohibit property owners’ associations from adopting or enforcing certain restrictive covenants that would impede these sales.

Texas has joined Utah and Colorado in allowing young entrepreneurs to operate a temporary business without a license after Governor Greg Abbott signs HB 234 in the coming weeks. The bill will go into effect Sept. 1, 2019. Activity on HB 234 began late last year when Krause learned of two north Texas business dreamers who had their lemonade stand shut down by law enforcement officials for not having secured a permit in advance. Andria, 8, and sister, Zoey Green, 7, wanted to raise about $100 to buy their dad a Father’s Day gift so they set up a lemonade stand. Krause introduced the bill at the beginning of the current Texas Legislative session. The bill has had only very minor alterations or additions as it has moved through the legislative process.

Gordon added: ”I am honored to have worked with Rep. Krause, Senator Nelson and their staff members who believe that kids should have the opportunity to start and run businesses without government restrictions or fees.”

Eight-year old Burton captivated legislators as he spoke before the House committee in March and before the Senate committee in May. Senator Eddie Lucio, Jr., was so impressed by Burton’s testimony that after the committee unanimously voted to approve the bill, he presented the gavel to Burton.

“I felt special being invited to give testimony and to join Governor Abbott and other supporters for the ceremony today,” Burton said. “I am excited that I was able to testify as a Lemonade Day business owner and to help legislators to change the law so that Texas kids can now set up lemonade stands at any time.”

About Lemonade Day

Since 2007, the Lemonade Day program has been teaching leadership and business skills by encouraging children to launch a lemonade business in their community. The organization inspires young people with a desire to learn business skills and financial literacy to set up their lemonade stand where they can apply customer service skills, collaborate with business owners and investors, and experience real world business owner challenges.

Lemonade Day has expanded to 80 licensed communities in the United States, Canada, and six U.S. military bases. More than one million children and thousands of adult mentors have participated in Lemonade Day since 2007. Adults can register a child to participate in Lemonade Day and give them a taste of the sweet success that comes with owning their own business. For more information, visit lemonadeday.org/find-your-city.

Contacts

Laura M. Pennino, Senior PR Consultant for Lemonade Day

281 286 9398 office, 713 419 1776 mobile, lp@penninoandpartners.com

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Business Wire

Metaurus Advisors Cross-Lists Two First-of-Their-Kind ETFs in Mexico

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NEW YORK–(BUSINESS WIRE)–$idiv #bolsamexicanaMetaurus Advisors, a US-based financial innovation and asset management company, announced that it has, with the assistance of Bank of America Mexico, cross-listed two exchange traded funds on the Bolsa Mexicana de Valores (BMV); the Metaurus US Equity Cumulative Dividend Fund – Series 2027 (IDIV*: BMV) and the Metaurus US Equity Ex-Dividend Fund – Series 2027 (XDIV*: BMV).

These innovative ETFs, which may have interesting tax characteristics for some non-US investors, separate the S&P 500 Index into its two return “components”— a “Dividend Component” based on the dividend cash flow (IDIV*) and a “Price Component” based on the capital appreciation (XDIV*). By unbundling these two previously inseparable sources of equity returns, investors now have the ability to trade them independently of one another for the first time. They enable investors to better express preference between the dividend cash flow and price exposure of the S&P 500 Index by using these components in isolation, or, re-combining them in varying ratios to potentially introduce new risk and return profiles for their index exposure.

“We are excited to make these funds available in Mexico,” said Rick Sandulli, Co-CEO of Metaurus Advisors. “We think the tax characteristics will be of interest to those investors subject to dividend withholding tax. And, they offer an unparalleled ability for investors to customize their portfolio’s relative exposure to potential income versus capital appreciation.”

The Metaurus Cumulative Dividends Fund (IDIV*) represents the “Dividend Component” and is designed to provide returns generated by the dividend growth of the S&P 500 Index, without stock price risk, while making periodic payments that replicate the actual dividends paid. IDIV employs a passive strategy that seeks to track, before fees and expenses, the Solactive US Cumulative Dividends Index-Series 2027.

The Metaurus Ex-Dividend Fund (XDIV*) represents the “Price Component” and is the remaining exposure to the S&P 500 Index after the future dividends have been stripped out. This fund is designed to provide full price exposure to the S&P 500 Index at a capital investment that is reduced by the value of the stripped dividends. XDIV employs a passive strategy that seeks to track, before fees and expenses, the Solactive Ex-Dividend Index-Series 2027.

About Metaurus Advisors

Metaurus Advisors is an asset management company focused on innovation and dedicated to providing unique financial solutions to address today’s most pressing investment problems. Metaurus seeks to alter the investment landscape, both domestically and internationally, by providing the market with thoughtfully built financial tools, not generic products. Metaurus principals pioneered the Structured Notes platforms at Merrill Lynch (1990-1997), Morgan Stanley (1995-2005) and Wells Fargo (2005-2018).

Disclosures

Neither Metaurus Advisors LLC and its affiliates nor SEI and its affiliates provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein: and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.

The ETFs are not investment companies registered under the Investment Company Act of 1940 and are not afforded the protections of the 1940 Act.

This material must be preceded or accompanied by a prospectus. Carefully consider the Funds’ investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ prospectus, which may be obtained by clicking on the Prospectus link or by calling 866.395.0079. Read the prospectus carefully before investing.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any shares of the portfolio in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. This communication is for informational purposes only. It is not intended to provide, and should not be interpreted as individualized investment, legal or tax advice. To obtain such advice, please consult with your investment, legal or tax professional. Investing involves risk, including possible loss of principal. There is no guarantee that the funds will meet their investment objectives. The ETFs primarily invest in futures, which can be volatile. Even a small movement in market prices could cause large losses. There is no guarantee that distributions will be made.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the funds other than in large Creation Unit aggregations. Instead, investors must buy or sell shares of the funds in the secondary market with the assistance of a broker. As with all securities, buying and selling shares of the funds will result in brokerage commissions and will generate tax consequences. Brokerage commissions will reduce returns.

Additional disclosures can be found at www.metaurus.com/disclosures

Funds distributed in the United States by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with Metaurus Advisors LLC or any of its affiliates.

Additional Information for Mexican Investors

The funds list and principally trade their shares on the NYSE-ARCA exchange, and have been cross-listed on the Bolsa Mexicana de Valores.

None of the securities herein have been registered with the National Securities Registry (Registro Nacional de Valores) maintained by the Mexican National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores). Securities not cross-listed on the nor registered with the National Securities Registry (Registro Nacional de Valores) may not be offered or sold publicly or otherwise be the subject of brokerage activities in Mexico, except pursuant to the private placement exemption set forth in article 8 of the Securities Market Law (Ley del Mercado de Valores), to institutional and qualified investors, as defined under Mexican law and rules thereunder.

The offering materials may not be publicly offered or distributed in Mexico.

© 2019 Metaurus Advisors LLC. All rights reserved.

For additional information on Metaurus, please visit www.metaurus.com | Twitter: @metaurusllc | LinkedIn: Metaurus Advisors LLC

 

Contacts

Metaurus Advisors LLC

Rick Silva, Senior Managing Director, Partner

+1 (201) 683-7106

rsilva@metaurus.com

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Business Wire

The VOID Adds Three New Locations

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The VOID Expands Immersive Experiences in the U.S.

LINDON, Utah–(BUSINESS WIRE)–The VOID, the critically acclaimed global leader in immersive virtual reality experiences announced today the opening of three new locations this summer at The Battery Atlanta, Atlanta, Ga.; Mall of America, Minneapolis, Minn.; and Tyson’s Corner, Washington, D.C.


With partnerships across world-class companies, The VOID utilizes cutting edge technology and IP from Hollywood’s best studios and storytellers, to mark a new frontier in the future of interactive entertainment and storytelling taking hold in cities across the world.

“The VOID aims to elevate the perception of how consumers currently see and interact with virtual reality,” said Curtis Hickman, Co-Founder and Chief Creative Officer of The VOID. “We understand that consumers today are looking for not only new mediums of entertainment, but also dynamic social experiences. We are excited about this expansion and the opportunity to bring our cutting-edge technology, world-class content and future of entertainment to a wider audience in cities across the U.S.”

Currently, The VOID has 11 locations globally located in: Cinemark West Plano, Plano, Tx.; Downtown Disney, Anaheim, Calif.; Disney Springs, Orlando, Fla.; Glendale Galleria, Glendale, Calif.; Grand Canal Shoppes in The Venetian and The Palazzo Hotel, Las Vegas, Nev.; Hub Zero, City Walk, Dubai, U.A.E; The Rec Room at Square One, Mississauga, Ont.; The Rec Room Toronto Roundhouse, Toronto, Ont.; The Rec Room West Edmonton Mall, Edmonton, Alta.; Third Street Promenade, Santa Monica, Calif.; and Resorts World Genting, Pahang Darul Markmur, Malaysia.

Locations opening this summer mark the beginning of rapid growth and continued expansion for The VOID. The locations will be launching with Star WarsTM: Secrets of the Empire, the award-winning experience by ILMxLAB and Lucasfilm and Ralph Breaks VR by ILMxLAB created in collaboration with Walt Disney Animation Studios.

The VOID continues to pave the way as the future of entertainment with the launch of new locations, strategic partnerships, and exclusive content through 2019 and 2020. For more information, visit: www.thevoid.com.

ABOUT THE VOID

The VOID is a critically-acclaimed global leader in immersive virtual reality experiences and the future of entertainment. Set to elevate immersive experiences, The VOID aims to transform virtual reality into a dynamic and social event on a global scale. The VOID is developing an entirely new category of interactive and immersive experiences where guests become active participants in the story. Combining state-of-the art technology, physical stages and multi-sensory effects, including touch and smell, with Hollywood characters and storylines, The VOID allows participants to experience fully-immersive worlds that, until now, have only lived in the imagination. To learn more, visit www.thevoid.com or follow The VOID on Facebook, Instagram and Twitter.

ABOUT THE BATTERY ATLANTA

The Battery Atlanta, a 1.5 million square foot mixed-use development, located at the intersection of I-75 and I-285, features boutique shopping, chef-driven restaurants, an Omni Hotel, The Coca-Cola Roxy, 531 residences, Two Ballpark Center loft office home to SPACES, and One Ballpark Center, Comcast’s regional office headquarters. Powered by Comcast’s all-fiber network and delivering multi-terabit capabilities, The Battery Atlanta has the highest-capacity network serving any mixed-use development in the nation. For more information on The Battery Atlanta please visit www.batteryatl.com.

ABOUT MALL OF AMERICA

At 5.6 million square feet, Mall of America is the largest shopping and entertainment complex in North America with more than 520 world-class retail stores and restaurants; Nickelodeon Universe, the nation’s largest indoor theme park; SEA LIFE Minnesota Aquarium; FlyOver America; Crayola Experience; Hard Rock Café; The Escape Game; CMX Cinemas; and more. The Mall opened in 1992 and is located in Bloomington, Minn., minutes from downtown Minneapolis and St. Paul and adjacent to the MSP International Airport. Follow Mall of America on Facebook, Twitter and Instagram, and visit our blog. Download the Mall of America app from the App Store for iOS or Google Play for Android.

ABOUT TYSON’S CORNER

One of the nation’s top-performing shopping centers, the 2 million square-foot Tysons Corner Center is anchored by Bloomingdale’s, Nordstrom, Macy’s, Lord & Taylor, L.L.Bean and a 16-screen AMC Theatres. The shopping center offers more than 300 specialty stores, including popular digitally native brands, plus restaurants, and attracts more than 25 million visitors annually.

Contacts

Demonstrate PR for The VOID

Joey Hodges, 415.400.4214

thevoid@demonstratepr.com

The Battery Atlanta

Caroline Burleson, 404-614-1535

Caroline.Burleson@braves.com

Mall of America

Brett Burger, 952.883.8826

Brett.burger@moa.net

Tyson’s Corner

Todd Putt, 703-893-9401

Todd.Putt@macerich.com

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