Signature Devices Inc. (SDVI)

[inti23]

SDVI NEWS!Signature Devices, Inc. Completes Financials for 2011 and 2012

LAS VEGAS, NV, Feb 26, 2013 (MARKETWIRE via COMTEX) -- Signature Devices, Inc. (PINKSHEETS: SDVI) is pleased to announce that the Company has posted its 2011 and 2012 financials on the website www.otcmarkets.com/stock/SDVI/financials. By publishing the financials the company is in process of being upgraded to the status as OTC Pink Limited Information. The company plans on submitting additional documentation to upgrade the status to OTC Pink Current Information.
In 2012, the Company posted Total Assets of $1,618,248 as compared with $2,217,218 for 2011. Signature Devices posted total revenues of $129,620 for 2012 as compared to $1,065,152 for 2011. The decrease in revenues is the result of bad debt write-offs with one big debtor. The bad debt resulted in Signature Devices unable to deliver additional goods to market.

In 2012, Signature Devices realized a Gross Profit of $121,736 as compared to $669,301 for 2011. "I strongly believe the planned litigation against our main debtor will bring us back to profitability and will benefit all shareholders in the near future," stated Mart van der Velde, CEO of Signature Devices, Inc.