Audio Pixels Holdings (ASX: $AKP) Quarterly Cash Report to 30 June 2024

Audio Pixels Holdings Limited (ASX: $AKP) has reported technical achievements in advancing its Digital Sound Reconstruction technologies into a mass-produced commercial product. The company's focus during the reporting period has been on the fabrication and characterization of MEMS GEN-II chips, incorporating novel design elements to enhance sound pressure. EarthMountain, the vendor, has made significant progress in overcoming fabrication challenges and anticipates shipping device characterization wafers from all 3 fabs in August.

Executive Commentary on Quarterly Activities

The achievements in advancing our Digital Sound Reconstruction technologies into a mass-produced commercial product mark a significant milestone for Audio Pixels Holdings. The focus on MEMS GEN-II chip design and fabrication progress demonstrates our commitment to delivering high-quality sound solutions to the market. We are pleased with the progress made by EarthMountain in overcoming fabrication challenges, and we remain optimistic about the future prospects of our technology.

Summary of Quarterly Cash Report and Outlook

Audio Pixels Holdings (ASX: $AKP) has made substantial progress in advancing its Digital Sound Reconstruction technologies, particularly in the development of MEMS GEN-II chips. Despite the challenges faced in the fabrication process, the company's vendor, EarthMountain, has shown resilience in overcoming these obstacles. The company is actively seeking additional short-term funding to meet its working capital requirements and is coordinating the timing of securing funds with the demonstration of the MEMS GEN-II wafers and chips. The upcoming Annual General Meeting in late September - early October 2024 will provide further insights into the company's strategic plans and financial outlook.