The company's share price rose to a high of $24 earlier today, an 11% increase from the previous day before dipping slightly to $20.50 at 2pm AEST.
The technology generates sound waves directly from a digital audio stream using micro-electromechanical structures (MEMS) rather than conventional loudspeaker parts, which is enclosed in a small, affordable chip.
The company has commenced the process of integrating the MEMS with an application specific integrated circuit so that they work as one cohesive device. This process is required to ensure that the MEMS chip is robust enough to withstand mass production.
Audio Pixels says the integration process will take between four to eight weeks and is enthused by the level of interest the market has shown for its ground-breaking product.
"The company continues to actively maintain its ongoing communications with its ever-growing pool of potential customers and strategic partners, who continue to maintain a high level of encouraging confidence as we advise them of our overall progress," Audio Pixels says.
It has also announced an early partnership with Bar Ilan University in Israel which is striving to use the Audio Pixels device to enable the blind to "see again".
"This innovative patented concept which potentially has broader commercial applications, combines spectacle-mounted cameras with sophisticated image processing technologies to cover, in real-time, the visual image into tactile spatial information that stimulates the cornea through the transmission of ultrasonic waves," Audio Pixels says.
The company agreed to collaborate with the University due to the potential medical benefits of the project and that its support has been a key factor in the University being able to receive funding from Israel's Chief Scientist.
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