Safe Harbor/ Forward-Looking StatementsThis press release contains forward-looking statements, which include the effects of joining the U.S. Russell Microcap Index® on Resonant. Forward-looking statements are made as of the date of this document and are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: our limited operating history; our ability to complete designs that meet customer specifications; the ability of our customers (or their manufacturers) to fabricate our designs in commercial quantities; our dependence on a small number of customers; the ability of our designs to significantly lower costs compared to other designs and solutions; the risk that the intense competition and rapid technological change in our industry renders our designs less useful or obsolete; our ability to find, recruit and retain the highly skilled personnel required for our design process in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions " Risk Factors" and " Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
Resonant Inc. (NASDAQ: RESN), a designer of filters for radio frequency, or RF, front-ends that specializes in delivering designs for difficult bands and complex requirements, today announced it was added to the U.S. Russell Microcap Index® after the equity markets closed on June 24, 2016. Terry Lingren, CEO of Resonant, commented: "Joining the Russell Microcap Index is a positive reflection of our continued progress. Ultimately, we believe the addition will help to increase awareness throughout the investment community as we continue to enhance our Infinite Synthesized Network (ISN) design platform, expand the number and complexity of filter designs in our library, expand our customer base and move closer toward commercializing our innovative filter designs." Russell indexes are broadly used by both investment professionals for index funds, as well as benchmarks for investment strategies. Approximately $6 trillion in assets are benchmarked to the Russell Indexes. Annual reconstitution of the Russell U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The smallest 2,000 companies make up the widely used Russell 2000 Index. Market analysis on the Russell Indexes are available at https://www.ftserussell.com/research-insights/russell-reconstitution. About Resonant ® Inc. Resonant is creating innovative filter designs for the RF front-end, or RFFE, for the mobile device industry. The RFFE is the circuitry in a mobile device responsible for the radio frequency signal processing and is located between the device's antenna and its digital baseband. Filters are a critical component of the RFFE that selects the desired radio frequency signals and rejects unwanted signals and noise. About Resonant's ISN ® Technology Resonant can create designs for hard bands and complex requirements that can be manufactured for half the cost and developed in half the time of traditional approaches. Our large suite of proprietary mathematical methods, software design tools and network synthesis techniques enable us to explore a much bigger set of possible solutions and quickly derive the better ones. These improved filters still use existing manufacturing methods (i.e. SAW) and can perform as well as those using higher cost methods (i.e. BAW). While most of the industry designs surface acoustic wave filters using a coupling-of-modes model, Resonant uses circuit models and physical models. Circuit models are computationally much faster, and physical models are highly accurate models based entirely on fundamental material properties and dimensions. Resonant's method delivers excellent predictability, enabling achievement of the desired product performance in roughly half as many turns through the fab. In addition, because our models are fundamental, integration with our foundry and fab customers is eased -- our models speak the "fab language" of basic material properties and dimensions.