Parametric Sound Corp. (OTC:PAMT) yesterday revealed the company had a new member on the Board of Directors. The news seemed to please traders.
PAMT closed up 12.86% at $0.79, and the volume was high above the average of 23 thousand; it reached 154 thousand shares.
The person in question is Kenneth F. Potashner. Mr. Potashner has had an impressive career including executive and board positions in Newport Corporation, Maxwell, S3, Inc., etc.[BANNER]
The part of the announcement which may have been more exciting is where it says that Mr. Potashner has agreed to develop strategies for a range of markets.
Despite the positive session, it should be pointed out that trading wasn’t consistent throughout the day. Perhaps, this is because it may be too early to make out just how far Mr. Potashner can help PAMT.
The company is still operating at a loss, and the future is very far from certain. Nevertheless yesterday’s performance would suggest at least some investors are happy with the news.
Potential investors should keep in mind that the company has a policy of granting stock options and it could result in dilution in the future.
