THE
WOODLANDS, Texas, March 29,
2023 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or
the "Company") (NASDAQ: MIND) announced that the United States
Patent and Trademark Office ("USPTO") has granted a patent for
their MA-X™ technology. MA-X was engineered and designed by
MIND's Klein Marine Systems unit and represents the industry's
first integrated single beam side scan and gap filler sonar.
MA-X provides imaging of the nadir zone, or "gap", with the same
interpretive characteristics of side scan sonar thereby improving
survey times by up to 40%. The Company believes that the superior
image quality combined with an increase in efficiency provides an
unmatched value proposition to the industry and creates a clear
differentiation from other side scan sonar systems.
Klein's first product incorporating this technology is the MA-X
VIEW 600. This system delivers focused 600kHz imagery (which is
comparable to 900kHz resolution) with 100% bottom coverage. The
superior image quality and long-range performance, combined with
the nadir gap filler, increases survey efficiency for complex
survey operations, such as renewable energy products and unexploded
ordinance. These sonars have been used for USV mine countermeasure
operations.
The MA-X VIEW 600 is designed to provide portability,
submergence, and optimal stability at all depths to a maximum of
300 meters. This system incorporates Klein BLUE TECHNOLOGY™
representing innovations in transducer, signal conditioning and
processing design.
Commenting on the announcement, Klein's General Manager,
Michael Williams, stated, "We are
pleased that the USPTO has recognized our MA-X technology as both
novel and complex. The Company's investment in this
innovative technology provides our customers with significant
competitive advantages in survey area coverage rate ("ACR") by
helping ensure that mission critical objects are not missed in the
sonar nadir."
ABOUT MIND TECHNOLOGY
MIND Technology, Inc. provides technology to the oceanographic,
hydrographic, defense, seismic and security industries.
Headquartered in The Woodlands,
Texas, MIND has a global presence with key operating
locations in the United States,
Singapore, Malaysia, and the United Kingdom. Its
Seamap and Klein units, design, manufacture and sell specialized,
high performance, marine sonar and seismic equipment.
Forward-looking Statements
Certain statements and information in this press release may
constitute "forward-looking
statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements contained
in this press release other than statements of historical fact,
including statements regarding our future results of operations and
financial position, our business strategy and plans, our objectives
for future operations, future orders and anticipated delivery of
existing orders, and future payments of dividends are
forward-looking statements. The words
"believe," "expect," "anticipate,"
"plan," "intend," "should," "would,"
"could" or other similar expressions are intended to
identify forward-looking statements, which are generally not
historical in nature. These forward-looking
statements are based on our current expectations and beliefs
concerning future developments and their potential effect on
us. While management believes that these
forward-looking statements are reasonable as and when made, there
can be no assurance that future developments affecting us will be
those that we anticipate. All comments concerning
our expectations for future revenues and operating results are
based on our forecasts of our existing operations and do not
include the potential impact of any future acquisitions or
dispositions. Our forward-looking statements
involve significant risks and uncertainties (some of which are
beyond our control) and assumptions that could cause actual results
to differ materially from our historical experience and our present
expectations or projections. These risks and uncertainties include,
without limitation, reductions in our
customers' capital budgets, our own capital budget,
limitations on the availability of capital or higher costs of
capital, volatility in commodity prices for oil and natural gas and
the extent of disruptions caused by the COVID-19 outbreak.
For additional information regarding known material factors
that could cause our actual results to differ from our projected
results, please see our filings with the SEC, including our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date
hereof. We undertake no obligation to publicly
update or revise any forward-looking statements after the date they
are made, unless required by law, whether as a result of new
information, future events or otherwise. All forward-looking
statements included in this press release are expressly qualified
in their entirety by the cautionary statements contained or
referred to herein.
Contacts:
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Rob Capps, President
& CEO
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MIND Technology,
Inc.
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281-353-4475
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Ken Dennard / Zach
Vaughan
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Dennard Lascar Investor
Relations
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713-529-6600
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MIND@dennardlascar.com
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SOURCE MIND Technology, Inc.