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<SEC-DOCUMENT>0000950124-07-000456.txt : 20070126
<SEC-HEADER>0000950124-07-000456.hdr.sgml : 20070126
<ACCEPTANCE-DATETIME>20070126143200
ACCESSION NUMBER:		0000950124-07-000456
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070124
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070126
DATE AS OF CHANGE:		20070126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPATIALIZER AUDIO LABORATORIES INC
		CENTRAL INDEX KEY:			0000890821
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				954484725
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26460
		FILM NUMBER:		07555995

	BUSINESS ADDRESS:	
		STREET 1:		2025 GATEWAY PLACE
		STREET 2:		SUITE 365
		CITY:			SAN JOSE
		STATE:			CA
		ZIP:			95110
		BUSINESS PHONE:		3102273370

	MAIL ADDRESS:	
		STREET 1:		2625 TOWNSGATE ROAD
		STREET 2:		SUITE 330
		CITY:			WESTLAKE VILLAGE
		STATE:			CA
		ZIP:			91361
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v26765e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
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<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20459</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)<BR>
OF THE SECURITIES EXCHANGE ACT OF 1934</B></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date
of report (Date of earliest event reported): January&nbsp;24, 2007</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Spatializer Audio Laboratories, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B><BR>
(State or other jurisdiction of <BR>
incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000-26460</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>95-4484725</B><BR>
(IRS Employer Identification No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><FONT style="white-space: nowrap">2060 East Avenida de Los Arboles, # D190, Thousand Oaks, California</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">91362-1376</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal corporate offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: (408)&nbsp;453-4180</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General
Instruction A.2. below):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
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	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">Item&nbsp;801 Entry into a Material Definitive Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Item&nbsp;9.01 Financial Statements and Exhibits</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT LIST</A></TD></TR>
<TR><TD colspan="9"><A HREF="v26765exv99w1.htm">EXHIBIT 99.1</A></TD></TR>
</TABLE>
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<!-- link1 "Item&nbsp;801 Entry into a Material Definitive Agreement " -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;801 Entry into a Material Definitive Agreement.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On January&nbsp;24, 2007, Registrant convened its annual meeting, which meeting was then adjourned
by the vote of a majority of the shares present at the meeting. Registrant stated that the
adjourned meeting would be held at the offices of Reed Smith LLP, 1901 Avenue of the Stars, Suite
700, Los Angeles, California on February&nbsp;21, 2007 at 4 p.m. local time. On January&nbsp;25, 2007, the
Board of Directors of Registrant ratified the adjournment of the annual meeting and the holding of
the adjourned meeting on February&nbsp;21, 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registrant indicated that the stockholders of record on November&nbsp;27, 2006, the record date for
the annual meeting, will continue to be the stockholders entitled to vote at the adjourned meeting
Any stockholder entitled to vote at the annual meeting who had not provided Registrant with a proxy
on or prior to January&nbsp;24, 2007 may still provide a proxy for the adjourned meeting. Any
stockholder who has given or gives a proxy with respect to the annual meeting has the power to
revoke the proxy at any time before the proxy is voted at the adjourned meeting. In addition to
revocation in any other manner permitted by law, a stockholder may deliver to the Secretary of
Registrant a written notice bearing a date later than the proxy stating that the stockholder would
like to revoke that proxy. Stockholders may also complete, execute and deliver to the Secretary of
Registrant a new, later-dated proxy card for the same shares, provided the new proxy is received
before voting at the adjourned meeting has closed. Additionally, a stockholder may attend the
adjourned meeting and vote in person. Registrant noted that a stockholder&#146;s attendance at the
meeting will not, in and of itself, revoke the stockholder&#146;s proxy. Any written notice of
revocation or subsequent proxy should be delivered to Registrant at 2060 East Avenida de Los
Arboles, # D190, Thousand Oaks, California 91362-1376, or to Computershare Investor Services, 2
North LaSalle Street, Chicago, Illinois 60690-1689 by the last business day preceding the date of
the adjourned meeting, or any adjournments thereof, or to the chairman of the meeting at or before
the taking of the vote at the adjourned meeting
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A press release describing the adjournment of the meeting and the ability to vote thereat was
released on January&nbsp;25, 2007 and a copy thereof is attached hereto as Exhibit&nbsp;99.1.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Forward Looking Statements. </I>The statements in this Form 8-K Current Report contain certain
&#147;forward looking statements&#148; within the meaning of Section&nbsp;27A of the Securities and Exchange Act
of 1993, as amended, and Section&nbsp;21E of the Securities and Exchange Act of 1934, as amended, that
involve risks and uncertainties. Any statements contained herein (including, without limitation,
statements to the effect that the Company or management &#147;estimates,&#148; &#147;expects,&#148; &#147;intends,&#148;
&#147;continues,&#148; &#147;may,&#148; or &#147;will&#148; or statements concerning &#147;potential&#148; or variations thereof or
comparable terminology or the negative thereof), that are not statements of historical fact should
be construed as forward looking statements. These forward-looking statements are based on our
management&#146;s current views and assumptions and information currently available to management.
While the Company believes that its expectations are based upon reasonable assumptions, there can
be no assurances that the Company&#146;s financial goals or the transactions described herein will be
realized. Numerous uncertainties and risk factors may affect the Company&#146;s actual results and may
cause results to differ materially from those expressed in forward-looking statements made by or on
behalf of the Company. These uncertainties and risk factors include, but are not limited to,
intense competition and pricing pressure, complete dependence on product shipments of third-party
licensees and the
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">timing and execution of their marketing plans, delay in revenue streams due to delays in new
product development, fluctuating operating results and its effect on sustainable operations, the
availability of additional capital, and other risks detailed from time to time in the Company&#146;s
periodic reports filed with the Securities and Exchange Commission.
</DIV>
<!-- link1 "Item&nbsp;9.01 Financial Statements and Exhibits" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Item&nbsp;9.01 Financial Statements and Exhibits</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release dated January&nbsp;25, 2007
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Spatializer Audio Laboratories, Inc.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: January 25, 2007&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Henry R. Mandell
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Henry R. Mandell&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chairman of the Board and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "EXHIBIT LIST" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">EXHIBIT LIST
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="97%">&nbsp;</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press release dated January&nbsp;25, 2007</TD>
</TR>
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</TABLE>
</DIV>



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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v26765exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit
99.1</div>
<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>CONTACT: INVESTOR RELATIONS</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Henry R. Mandell, Chairman<BR>
Spatializer Audio Laboratories, Inc.</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><u>investor@spatializer.com</u>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SPATIALIZER AUDIO LABORATORIES ADJOURNS ANNUAL MEETING TO EXTEND VOTING ON ASSET SALE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Los Angeles, Calif., January&nbsp;25, 2007- </I>Spatializer Audio Laboratories, Inc. (OTC Bulletin
Board: SPAZ) (the &#147;Company&#148;) announced that, by the vote of a majority of the shares present at the
Company&#146;s annual stockholder meeting convened on January&nbsp;24, 2007, the annual meeting was
adjourned. That adjournment was ratified by the Board of Directors of the Company on January&nbsp;25,
2007 as being in the best interests of the Company and its stockholders. The adjourned meeting
will be resumed at 4:00 p.m. on February&nbsp;21, 2007 at the offices of Reed Smith LLP., 1901 Avenue of
the Stars, Suite&nbsp;700, Los Angeles, California.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company indicated that the stockholders of record on November&nbsp;27, 2006, the record date for the
annual meeting, will continue to be the stockholders entitled to vote at the adjourned meeting.
Any stockholder entitled to vote at the annual meeting who had not provided the Company with a
proxy on or prior to January&nbsp;24, 2007 may still provide a proxy for the adjourned meeting. Any
stockholder who has given or gives a proxy with respect to the annual meeting has the power to
revoke the proxy at any time before the proxy is voted at the adjourned meeting. In addition to
revocation in any other manner permitted by law, a stockholder may deliver to the Secretary of
Spatializer a written notice bearing a date later than the proxy stating that the stockholder would
like to revoke that proxy. Stockholders may also complete, execute and deliver to the Secretary of
Spatializer a new, later-dated proxy card for the same shares, provided the new proxy is received
before voting at the adjourned meeting has closed. Additionally, a stockholder may attend the
adjourned meeting and vote in person. The Company noted that a stockholder&#146;s attendance at the
meeting will not, in and of itself, revoke the stockholder&#146;s proxy. Any written notice of
revocation or subsequent proxy should be delivered to Spatializer at 2060 East Avenida de Los
Arboles, # D190, Thousand Oaks, California 91362-1376, or to Computershare Investor Services, 2
North LaSalle Street, Chicago, Illinois 60690-1689 by the last business day preceding the date of
the adjourned meeting, or any adjournments thereof, or to the chairman of the meeting at or before
the taking of the vote at the adjourned meeting.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U><B>About Spatializer</B></U>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spatializer Audio Laboratories Inc. is developer, licensor and marketer of next-generation
audio technologies for the consumer electronics, computing and mobile communication markets. The
company&#146;s advanced audio technology is incorporated into consumer electronics audio and video
products, PC and mobile phone handsets from several global brand leaders. Spatializer stock is
traded on the OTC Bulletin Board under the symbol: SPAZ. The company is headquartered in Thousand
Oaks, CA. Further information may be obtained from Spatializer&#146;s SEC filings, and by contacting the
company&#146;s Investor Relations Department at
<U>investor@spatializer.com</u>.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Safe Harbor Act Statement Under the Private Securities Litigation Reform Act of 1995: Certain
information in this press release are forward looking statements that are based on management&#146;s
belief, as well as assumptions made by, and information currently available to management. While
the company believes that its expectations are based upon reasonable assumptions, there can be no
assurances that the company&#146;s financial goals will be realized. Numerous uncertainties and risk
factors may affect the company&#146;s actual results and may cause results to differ materially from
those expressed in forward-looking statements made by or on behalf of the company. These
uncertainties and risk factors include, but are not limited to the continued need for additional
capital, loss of key personnel, dependence on new technology and intellectual property, dependence
on the PC and consumer electronics industries, dependence on product shipments of third-party
licensees, dependence on third-party technology integrators or chip suppliers, competition and
pricing pressures, and other risks detailed from time to time in the company&#146;s periodic reports
filed with the Securities and Exchange Commission.
</DIV>


<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><I><b>NOTE:</b></I></TD>
    <TD>&nbsp;</TD>
    <TD><I><b>Desper Products Inc. is a wholly owned subsidiary of Spatializer Audio Laboratories Inc.
Spatializer&#174; is a registered trademark of Desper Products Inc. All other trademarks are the
property of their respective owners.</b></I></TD>
</TR>
</TABLE>
</DIV>


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