IRVINE, CA, May 04, 2018 (GLOBE NEWSWIRE) -- Signature Devices, Inc. (OTC PINK: SDVI) today announced that its revenues increased to around $75k in Q1 2018, which is a 50% increase in revenues vs Q4 of 2017. The company also announced that it reached near break even for the quarter in net revenue.
Innovo Technology’s second year as a public company is off to a great start without even going into full production of its flagship Morpheus Pro product line or the full launch of the innovative Knoton.
The company spent 2017 focusing on further developing the award-winning Morpheus products that generated a net positive income in Q3 2017, while hitting $140k total revenue in 2017. The company has already generated 50% of total revenue of 2017 in Q1 of 2018 and has lots of big plans for the rest of the year. “Innovo Technologies is a start-up in every sense and because we are public, our value isn’t nearly where it should be. Private companies in our space see valuations 20-30 times where we are currently. However, we are uniquely positioned for explosive growth once we secure the necessary resources for the planned expansion” said Inas Azzam, CEO of Signature Devices.
Most recently, Innovo announced the launch of a kickstarter campaign focused on its most innovative product to date, the Knoton; a highly customizable IoT device focused on school safety, personal security and blockchain-based secure transactions.
The full report will be filed on 5/15/2018 and will be available at https://www.otcmarkets.com/stock/SDVI/disclosure
You can also follow the company on Twitter for small updates and announcements, https://twitter.com/SignatureDevice
About Innovo Technology, Inc.
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.