IRVINE, CA--(NewMediaWire - May 16, 2017) - Signature
Devices, Inc. (OTC PINK: SDVI) today announced revenue for Q1 2017 for
all of its subsidiaries including Graffiti Entertainment and Innovo
Technologies.
The primary driver for revenue was from the sales of Innovo
Technologies media server, Morpheus. All sales of Morpheus servers
and players were primarily driven by distributors in Australia,
Europe and the Middle East.
Innovo Technology, a leading software and hardware development
company, spent the last 2 quarters designing the Morpheus One. This
combines the server and player into a unit that is half the size of
the existing player. The product will expand the current market to
the pro consumer and dealer markets with simple setup and at a
fraction of the cost of the Pro system. The new product will go
into production in Q2 of 2017 and will be available for purchase in
the U.S. for the first time since its launch in 2014.
"We made a very early decision to use the profitability of
Innovo Technology subsidiaries for research and development of our
next gen product," said Inas Azzam, President at Innovo. "The
company felt that we should spend the money in order to bring the
product to market in the U.S.," he concluded.
The Pro devices that are designed for larger homes and more
demanding consumers will be relaunched with new capabilities
including 4K in the next couple of weeks. The research and
development of the new products were financed by the net income
from the sale of the existing line of Morpheus.
You can also follow the company on Twitter for small updates and
announcements, https://twitter.com/SignatureDevice
About Innovo
Based in Irvine, California, Innovo Technology combines the best of
the technologies underpinning the popular Morpheus media server,
Tazerwear's AI Software, Truck IT's beacon platform with Knoton's
hardware, infrastructure and software. The result is a company that
blends custom software and powerful hardware IoT-interconnected
devices. Learn more by visiting: http://innovotech.io/about/
About Signature Devices, Inc.
Based in Sheridan, Wyoming, Signature Devices, Inc. (www.signaturedevices.com) (OTC
PINK: 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.