On July 17, 2017, LRAD Corporation announced that Katherine H. McDermott provided notice to the company on July 11, 2017 of her intent to resign from her position as Chief Financial Officer of the company effective August 10, 2017. Ms. McDermott's resignation is not the result of any disagreement with management, the company or its operations, policies or practices. The company is conducting a nationwide search to find a replacement for Ms. McDermott.