Quote:Signature Devices Inc. Appoints New CEO, Mart van der Velde, to Lead Company's Growth, Revenue and Product Plans
New CEO Has Financial Industry Experience and Plan of Action for Signature Devices, Inc. MarketwirePress Release: Signature Devices, Inc. – 8 minutes ago Companies:
REDWOOD CITY, CA--(Marketwire -12/08/11)- Mart van der Velde has been appointed Chief Executive Officer for Signature Devices Inc. (Pinksheets: SDVI.PK - News) effective immediately. Mr. van der Velde, age 47, has over 25 years of experience in the financial industry, including being the youngest banker in the Netherlands (at age 23, with a division of SNS bank and later he worked for RABO bank). For the past eight years, Mr. van der Velde was involved in mortgages, loans and the insurance industry. He built his own company's revenues and size to 14 employees, before leaving to seek a global business opportunity.
"With the Company's restructuring efforts completed successfully, and a focused plan for attaining profitability and rolling out major new products, Signature Devices is in great shape to grow and expand its business," van der Velde said. "I am honored to take the reins of Signature Devices with so much potential ready to be unleashed," he added.
Mr. van der Velde has laid out a plan of action to lead Signature Devices Interactive entertainment and simulation software/games to attain a bigger piece of what is a $30 billion industry worldwide. As a fully integrated developer, Signature Devices develops its own games and develops successful games for others.
"We are going to leverage Signature Devices status as an Official Nintendo® licensed developer for DS™ and Wii™, an Official Sony® licensed developer for Playstation® 3 and Playstation® Portable, and a fully-integrated developer for XBOX360. We are going to deliver new products that have a global appeal and expand upon the experience we gained in developing software for leaders like Electronic Arts, Activision, Crytek, Expresso Fitness, and SNK Playmore," van der Velde added.
While stepping aside as CEO to allow a new managerial direction and focus, Kenneth Hurley will play an enhanced role in Signature Device's subsidiary Graffiti Entertainment, Inc. Mr. Hurley's successful background in software development and publishing, computers and 3D graphics, and involvement with the leading technologies will be of great benefit to Graffiti and its relationship with Signature Devices moving forward.
"Mr. Kenneth Hurley's expanded focus on our sister company Graffiti Entertainment is exciting, and I look forward to working closely with him in his newly expanded role in publishing software titles," said Mr. van der Velde.
Mr. van der Velde also indicated that new product announcements will be made prior to year end. Signature Devices' business model enables it to profit from multiple revenue streams and bring its own games to market faster and at less cost. The Company's game technology and proprietary 3D software places it in an enviable position to provide simulations for the military, industry and governments.
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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