Genasys Inc. — Director's Dealing 2004

May 21, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMERICAN TECHNOLOGY CORP /DE/ (ATCO)
CIK: 0000924383
Period of Report: 2004-05-20

Reporting Person: JONES KALANI (President and COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-20	ISO Stock Option	$6.88	A	100000	Acquired	2009-05-20	Common Stock (100000)	Direct

Footnotes

F1: Options vest as to 1/6 of total after six months and 1/12 of total each quarter thereafter over 3 year vesting term subject to the terms of the 2002 Stock Option Plan.