SOURCE: Signature Devices, Inc.

Signature Devices, Inc.

October 31, 2017 11:09 ET

Signature Devices, Inc. and Innovo Technology Projects Strong Financial Results for Q3 2017

Projected Revenue growth of 70% over Q2 to $52,000 for Innovo and Graffiti

IRVINE, CA--(Marketwired - Oct 31, 2017) - Signature Devices, Inc. (OTC PINK: SDVI) today announced projected revenue for Q3 2017 for all of its subsidiaries including Graffiti Entertainment and Innovo Technologies.

The company is also projecting net income for the quarter even after the costs for CEDIA and production are included. The actual revenue numbers will be finalized and filed on OTCmarkets.com on or prior to November 15th.

The primary driver for revenue growth is the brisk sales of Innovo Technologies' media server, Morpheus. All sales of Morpheus servers and players are currently primarily through distributors and their dealer networks in Australia, Europe, Asia, and the Middle East. However, the company also recorded sales from U.S. customers for the first time in Q3. 

Included in the projected revenue is the sales of the new Morpheus Micro, which went into production in Q3 and is already gaining traction in the market. The company is currently sold out of the Morpheus Micro until January of 2018. However, Innovo Technology is still receiving back-orders for the unit when the new production is scheduled to arrive.

Since late 2016 and through the first part of 2017, the company focused a significant portion of its R&D investment on developing the Morpheus One, an all-in-one unit, and the Morpheus Micro, a very small form factor advanced 4K player. The Morpheus One combines the server and player into one unit that is half the physical size of the existing player. The objective is to expand the current offering to the pro consumer and dealer markets with a simple setup at a fraction of the cost of the Morpheus Pro system. A U.S. version was made available for purchase during the CEDIA trade show where the company showcased its product lineup. "Presenting at the CEDIA show was great milestone for us because it allowed for U.S. dealers and distributors direct exposure to the company. The show resulted in opening distribution channels in several countries as well as with some U.S. dealers. We are still following up on the leads and developing relationships as a direct result. We will definitely be doing the show again next year and for years to come," said Mr. Inas Azzam.

The company will also be holding a Google hangout video conference call to go over the financial results on Wednesday November 15th at 9:30 am PST. The link to the meeting will be made available on the company website.

You can also follow the company on Twitter for small updates and announcements, https://twitter.com/SignatureDevice

About Innovo

Based in Irvine, California, Innovo Technology combines the best of the technologies underpinning the popular Morpheus media server, Tazerwear's AI Software, Truck IT's beacon platform with Knoton's hardware, infrastructure and software. The result is a company that blends custom software and powerful hardware IoT-interconnected devices. Learn more by visiting: http://innovotech.io/about/

About Signature Devices, Inc.

Based in Sheridan, Wyoming, Signature Devices, Inc. (www.signaturedevices.com) (OTC PINK: SDVI) is a holding company with subsidiaries that develop Internet of Things (IOT) products through its subsidiary Innovo Technologies, Inc., and publishes diverse media products including video games and mobile applications through its subsidiary Graffiti Entertainment, Inc.

Forward-Looking Statements:

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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