Signature Devices, Inc. Announces the Completion of the Web Based Video Conference Call and Highlights
September 10 2010 - 5:24PM
Marketwired
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.
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