REDWOOD CITY, Calif., April 16, 2012 /PRNewswire/ -- Signature Devices, Inc. (PINK SHEETS: SDVI), having recently announced a merger with Graffiti Entertainment, Inc., today announced expansion plans for Europe. A Board resolution has been signed to acquire a European company established in 1991 which had 14 employees and revenues of $1.2 million in 2010. The Company (whose current name was not announced at this time pursuant to its agreement with Signature Devices, Inc.) will be newly named GraffitiPlay™, will be based in London, and will be a wholly-owned subsidiary. Mart van der Velde, CEO of Signature Devices, Inc. and Graffiti Entertainment, Inc. will serve as Chief Executive Officer on an interim basis until an England-based CEO is named.
"Our strategic plan is coming to fruition as we move aggressively into the European marketplace, including with a dedicated company and team. Our top goal is to increase exposure to our game titles and increase sales, and we are launching a new web site, www.graffitiplay.com, to serve as a European sales platform," said Signature Devices, Inc. CEO Mart van der Velde.
"The world of gaming and the various platforms, especially the growing mobile app marketplace, is one where unique product such as ours can have a universal appeal. We have not previously had the kind of viral marketing that can take full advantage of our award-winning titles like the Reader Rabbit® series, and management is addressing that in an aggressive way moving forward," added Mr. van der Velde.
The Company Graffiti Entertainment, Inc. is acquiring, and that will be known henceforth as GraffitiPlay, based in the UK, also is the beneficiary of a six-figure judgment. Collection of this judgment will benefit Graffiti Entertainment, Inc. with cash which will be used to further the growth plans. Graffiti Entertainment, Inc. has recently announced plans to provide accounting and attorney opinion disclosures to enhance its publicly traded listing on Pink Sheets. Pending this final merger, Graffiti Entertainment, Inc. and Signature Signature Devices, Inc. will consolidate financials including revenue and expenses.
While this work is being completed, the Company is aggressively expanding its sales and marketing efforts. The Company is also planning to increase promotional efforts on both current and upcoming software titles.
About Graffiti Entertainment, Inc. and Signature Devices, Inc.:
Based in Redwood City, Calif., Graffiti Entertainment, Inc. was spun out from Signature Devices, Inc. (www.signaturedevices.com) (PINKSHEETS: SDVI) and publishes diverse media products including console video games, iPhone/iPad and Android games. Signature Devices, Inc. creates and develops social networking systems including social networking server software, social networking games and console games, which it publishes through Graffiti Entertainment, Inc. Signature Devices, Inc. and Graffiti Entertainment, Inc. recently announced a merger agreement. Mart van der Velde is the CEO of both companies.
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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SOURCE Signature Devices, Inc.