Signature Devices, Inc. Announces Anticipated Professional Team Expansion and Share Count Increase
18 April 2013 - 2:28PM
Marketwired
Signature Devices, Inc. (PINKSHEETS: SDVI) is pleased to announce
that it is in process of selecting an accounting firm to audit 2008
-2012 financials in its efforts to achieve current reporting status
with Pink Sheets, as well as retaining legal advisers to facilitate
and oversee legal disputes resolution. In addition, the Board has
approved an amendment to the Company's Amended and Restated
Articles of Incorporation to increase the number of authorized
shares of common stock to 7,000,000,000. "We have always placed a
high priority on providing current and accurate information to our
shareholders, and we are excited that we are one step closer to
achieving current status with Pink Sheets. The Board believes that
the increase in authorized common shares creates the ability for
the Company to extinguish the legacy debt instruments and their
covenants. This, in conjunction with the significant operating
improvements, will allow our team to vastly broaden our investor
audience that can focus on tangible financial results to track our
progress," commented Mart van der Velde, President of Signature
Devices, Inc.
The Company currently has 2,495,000,000 authorized shares of
common stock, and approximately 2,468,024,472 shares of common
stock were outstanding as of April 17, 2012.
About Signature Devices, Inc.
Based in Las Vegas, Nevada, Signature Devices, Inc. creates and
develops social networking systems including social networking
server software, social networking games and console games. The
company also publishes software including video games, and
commercial products through its subsidiary company Graffiti
Entertainment, Inc.
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.
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