Signature Devices, Inc. Completes Financial Audit for 2006 and 2007 Ahead of 10-SB Filing
29 Avril 2008 - 2:31PM
Marketwired
REDWOOD CITY, CA is pleased to announce that the Company has
posted its 2006 and 2007 Audited financials on its website
www.signaturedevices.com. The Company retained Gruber &
Company, LLC of Saint Louis, Missiouri to complete the last two
years of financial statements required by the SEC to uplist to the
NASDAQ Bulletin Board.
The 2 years of audited financials will now give the Company the
ability to file the form 10SB to become fully reporting with the
SEC. Upon approval, the company will be eligible to trade on the
NASD's Over the Counter Bulletin Board or higher exchange. In 2007,
the Company posted Total Assets of $289,953 as compared with
$409,461 for 2006. Signature Devices posted total revenues of
$731,099 for 2007 as compared to $1,169,017 for 2006. The decrease
in revenues is a result of the company electing to publish its own
titles rather than produce titles for other manufacturers. In the
long run management believes this will produce the most value for
the shareholders.
In 2007, Signature Devices realized a Gross Profit of $658,680
as compared to $1,098,180 for 2006. After deducting stock based
compensation of $4,904,344, the Company's Operating Loss was just
($480,546). "We are now positioned to uplist and produce real
results to the bottom line. I believe the sacrifices we made in
2007 will pay dividends for all the shareholders in the future,"
stated Kenneth Hurley, CEO of Signature Devices, Inc. and Graffiti
Entertainment, LLC.
About Signature Devices, Inc. and Graffiti Entertainment,
LLC:
Based in Redwood City, Calif., Signature Devices, Inc. creates,
develops and manufactures advanced information technology,
including computer systems, software and electronics products. One
of the Company's premiere technologies includes a blend of hardware
and software for image generation technology used in video games
and simulations. Signature Devices also owns Graffiti
Entertainment, LLC, (www.GraffitiEntertainment.com), a publisher of
interactive entertainment software for advanced entertainment
consoles.
The information in this press release includes certain
"forward-looking" statements within the meaning of the Safe Harbor
provisions of Federal Securities Laws. Investors are cautioned that
such statements are based upon assumptions that in the future may
prove not to have been accurate and are subject to significant
risks and uncertainties, including the future financial performance
of the Company. Although the Company believes that the expectations
reflected in its forward-looking statements are reasonable, it can
give no assurance that such expectations or any of its
forward-looking statements will prove to be correct. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date of this release, and the
Company undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events, or
circumstances after the date of this release except as required by
law.
Contact: For more information, please visit:
www.signaturedevices.com or Call Investor Relations +
1-866-THE-APPL(E)
Signature Devices (CE) (USOTC:SDVI)
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