Io Audio Technologies

<p>The other goal for transparency is to deliver legacy-system support in the converged network. Network protocols such as TCP/IP and deployed object-oriented services will run across the converged network to far more intelligent devices than simple POTS phones.</p>

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And on the operational side, Aureal, formerly known as Aureal Semiconductor Inc., and before that, Media Vision Inc., widened the reach of its small sales team by offering direct market-ing to systems integrators through the Internet of its 3D-graphics programs and audio add-in products.

All this fancy footwork is part of a strategy to raise Aureal's profile, boost sales, and help it leapfrog from relative obscurity on the OTC Bulletin stock market to Nasdaq's National Market sector. Shortening our name seems like a minor issue, but it reflects a major broadening of our approach to the marketplace,” said Kip Kokinakis, president and chief executive of Aureal, Fremont, Calif.

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As part of that plan, Aureal converted all preferred stock into common stock in May and followed this with the 1-for-15 reverse stock split that slashed the number of shares outstanding to about 10 million. The split pushed Aureal's share price well above the minimum requirement for companies applying for listing on Nasdaq. Aureal's shares now hover around $8.00 vs. the $5.00 required by Nasdaq.

You can always meet Nasdaq's minimum share price requirement through a reverse stock split,” said a securities lawyer. It is not that easy to fix the net-tangible-asset requirement, and that's why they carried out the new shares offering.”

Aureal said it has applied to Nasdaq for inclusion on the exchange's National Market list and expects that this series of transactions will allow Aureal to qualify for such listing,” according to David Domeier, Aureal's chief financial officer. We now have a better balance sheet, we've got some cash in the bank and a relatively small number of shares.”

CRA034RJ390RP05Z_Datasheet PDF

Aureal is already seeing some results. Several analysts visited its office recently and though Aureal currently has no analysts' rating, it expects to attract Wall Street's interest once it is approved for trading on Nasdaq.

Oak Tree Capital Management, a venture capital company that owns a majority stake in Aureal, and the other investors are hoping the recent changes will make the company acceptable to Nasdaq and yield a substantial return on their investment. The old Media Vision was a complete zero in terms of return on investment,” said a spokesman for Los Angeles-based Oak Tree, which manages about $12 billion in venture funds and has so far invested roughly $75 million in Aureal.

CRA034RJ390RP05Z_Datasheet PDF

Aureal has good prospects for success, it has a full range of products and we think the space is big enough for two,” the spokesman said in reference to Creative Labs Inc., a subsidiary of Singapore-based market leader Creative Technology Ltd.

Aureal's sales figures show why the company's investors are confident. Its revenue grew 250% in the first quarter, to $12.6 million, from $3.6 million in the year-ago period.

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On the pay-for-platform front, jobs abound.

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