SOURCE: Signature Devices, Inc.

Signature Devices, Inc.

September 10, 2010 17:24 ET

Signature Devices, Inc. Announces the Completion of the Web Based Video Conference Call and Highlights

REDWOOD CITY, CA--(Marketwire - September 10, 2010) - Signature Devices, Inc. (PINKSHEETS: SDVI) held a web based conference call to update shareholders on the company status. The call was hosted on http://www.ustream.tv/channel/SDVI-shareholder-update.

Highlights of the conference include:

  • Product shipments for products have been in the 5,000 to 20,000 range and each product only has to reach 5,000 units to be profitable.
  • There are currently 1,726,007,805 Common shares outstanding and 2,770,188 Preferred.
  • The cost to acquire 7th Level entertainment was only preferred shares and a small amount of monthly income.
  • Reader Rabbit Series for Wii has been submitted for Quality Assurance tests at Nintendo and once passed should be out about 10 days after.
  • Yesterday 7th Level, the wholly owned subsidiary of Signature Devices, Inc., signed the final paperwork to acquire a 33% stake in DF Indie Studios valued at $33 million and a 5% stake in DF Indie Partners valued at $5 million.
  • Signature Devices, Inc. also has signed a deal for a 360 million Euro Equity Line for acquisitions.
  • As part of the deal, Signature Devices, Inc. will have to spin out Graffiti Entertainment, Inc and will pay out a dividend of 1 share of Graffiti Entertainment for 200 shares of Signature Devices, Inc. The shareholder will maintain their SDVI shares.
  • Additionally Graffiti Entertainment is making a tender offer for Signature Devices, Inc. shares to trade 1 share of Graffiti Entertainment shares for 200 shares of SDVI.
  • Graffiti Entertainment is moving forward to list on the Frankfurt exchange as part of the Equity Line deal.
  • Graffiti is also in process of securing a short term bridge loan to expedite the Frankfurt exchange listing.

About Signature Devices, Inc. and Graffiti Entertainment, Inc:

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 premier technologies includes a blend of hardware and software for image generation technology used in video games and simulations. Signature Devices also owns Graffiti Entertainment, Inc. (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.