LAS VEGAS, NV--(Marketwire - Feb 26, 2013) - Signature Devices, Inc. (
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.
About Signature Devices, Inc.
Based in Las Vegas, Nevada, Signature Devices, Inc. creates and develops social networking systems include social networking server software, social networking games and console games. The company also publishes software including video games, and commercial products through its subsidiary company Graffiti Entertainment, Inc.
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.