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Saturday, January 28, 2017 8:39:10 PM
Signature Devices, Inc. Updates Two Years of Financial Data on OTCMarkets.com
https://www.otcmarkets.com/ajax/showNewsReleaseDocumentById.pdf?id=23662
Signature Devices, Inc. Updates Two Years of Financial Data on OTCMarkets.com
Sheridan, WY, January 28th, 2017 /OTC Markets Press – Signature Devices, Inc. (OTC: SDVI)
www.signaturedevices.com today is announcing it has posted the last two years of financials to
www.otcmarkets.com in order to become PinkSheets (PS) Current.
The financials for 2016 are a consolidated financial statement for Signature Devices, Inc. and its
subsidiary Graffiti Entertainment, Inc. This is the first step in full disclosure for the company and will result in the company obtaining the PS Current status with OTC Markets. The final step will
be for the company to post an attorney opinion letter for the financial data.
Graffiti has acquired assets from Inqubus, Inc. that included 67 Apple IOS games/applications and 27 Android games/applications. In determining the valuation of such assets, the company used an expert in the field of developing mobile applications and got average production costs of $12,500.00 for this level and depth on an application. The company also acquired 1 other IOS/Android game called “Flying Baby” which adds to software assets.
For 2016, Graffiti Entertainment, Inc. had gross revenues of $3,758.00 for just one application
that it held the rights to. Management believes that the general expenses for the company will
remain stable at around $7,685.00 per year and around $50,0000.00 in development expenses.
Each of the 95 applications should have minimal gross revenues of around $4,000.00 per year
for 2017.
Graffiti is also adding its own advertising system to the applications and will also offer the
advertising system to other developers, website owners and advertisers. Management has
estimated gross revenues from advertising in 2017 and 2018 to be $1,380,000 and $3,140,000
respectively.
Innovo Technology, Inc. was formed as part of a non-bankruptcy triangular reorganization and
contemporaneous share exchange. This allows the company to acquire four Internet of Things
(IoT) companies and execute on becoming PS Current, which is part of the terms for the
acquisition.
Management’s preliminary projections for 2017 and 2018 for the 4 IoT companies that exist
under the Innovo Technology, Inc. umbrella are estimated to be $3,050,000.00 and
$14,100,000.00 respectively.
Total consolidated gross revenue estimates for the company is $4,443,000 for 2017 and
$17,240,000 for 2018.
About Signature Devices, Inc.
Based in Sheridan Wyoming, Signature Devices, Inc. (www.signaturedevices.com)
(OTCPK: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.
Contacts:
Investors Relations
ir@signaturedevices.com
650-654-4800 ext 111
http://www.signaturedevices.com
Source: Signature Devices, Inc.
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