WiSA Technologies Reschedules Q3 2022 Conference Call

Rhea-AI Summary

WiSA Technologies has announced a request to delay the filing of its Q3 2022 10-Q report, originally due for the quarter ending September 30, 2022. The delay is due to the company's ongoing exploration of strategic alternatives and is not linked to disputes with auditors. Consequently, the quarterly results conference call has been postponed to November 21, 2022. This decision reflects the company’s focus on potential strategic developments while maintaining transparency with shareholders.

Positive

• The delay in filing is attributed to strategic alternatives exploration, indicating proactive management efforts.

Negative

• Delay in filing financial reports may raise concerns among investors regarding transparency.
• Uncertainty around strategic alternatives could suggest underlying operational challenges.

- Requests Delay in Filing Q3 2022 10-Q -

BEAVERTON, Ore.--(BUSINESS WIRE)-- WiSA Technologies, Inc. (Nasdaq: WISA), a developer of spatial, wireless sound technology for smart devices and next-generation home entertainment systems, has requested to delay filing its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. The delay in filing has been requested in consideration of the Company’s previously announced and ongoing exploration of strategic alternatives and is not a result of any disagreements with its auditor concerning the financial results. As a result of this delay, the Company has tentatively rescheduled its quarterly results conference call for November 21, 2022.

About WiSA Technologies, Inc.

WiSA Technologies (Nasdaq: WISA) develops, markets, and sells spatial audio wireless technology for smart devices and next-generation home entertainment systems. Its consortium—the WiSA Association—works with leading consumer electronics companies, technology providers, retailers, and industry partners to make spatial audio an experience that everyone can enjoy. The Company is headquartered in Beaverton, OR. For more information, please visit: www.wisatechnologies.com.

© 2022 WiSA Technologies Inc. All rights reserved. WiSA Technologies Inc. and the WiSA Technologies Inc. logo are trademarks of WiSA Technologies Inc. The WiSA logo, WiSA®, WiSA Ready™, and WiSA Certified™ are trademarks and certification marks of WiSA, LLC. Third-party trade names, trademarks and product names are the intellectual property of their respective owners.

Safe Harbor Statement

This press release contains forward-looking statements, which are not historical facts, 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. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements, including statements herein regarding revenue growth, production, stores and launches, are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. As a result, 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 WiSA Technologies’ business, including current macroeconomic uncertainties associated with the COVID-19 pandemic; our inability to predict or measure supply chain disruptions resulting from the COVID-19 pandemic and other drivers; 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 direct and indirect customer demand for our existing and future products and to secure adequate manufacturing capacity; our ability to hire, retain and motivate employees; the effects of competition, including price competition within our industry segment; technological, regulatory and legal developments that uniquely or disproportionately impact our industry segment; developments in the economy and financial markets and other risks detailed from time to time in WiSA Technologies’ filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221114005769/en/

David Barnard, LHA Investor Relations, 415-433-3777, wisa@lhai.com

Source: WiSA Technologies, Inc.

FAQ

Why did WiSA Technologies delay its Q3 2022 10-Q filing?

WiSA Technologies delayed its Q3 2022 10-Q filing to explore strategic alternatives, not due to auditor disagreements.

When has WiSA Technologies rescheduled its quarterly results conference call?

The quarterly results conference call has been rescheduled for November 21, 2022.

What is the impact of the delay in WiSA Technologies' financial filing?

The delay may raise investor concerns regarding transparency and could indicate operational challenges.

What quarter corresponds to the delayed 10-Q filing for WiSA Technologies?

The delayed 10-Q filing corresponds to the quarter ending September 30, 2022.