SOURCE: Signature Devices, Inc.
LAS VEGAS, NV--(Marketwired - Apr 18, 2013) - 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.