Signature Leisure, Inc. (OTCBB: SGLS)
CASSELBERRY, FL–(MARKET WIRE)–Jun 12, 2007 — Signature Leisure, Inc. (OTC BB:SGLS.OB – News) President Stephen W. Carnes issued the following Letter to Shareholders:
Dear Signature Leisure Shareholders,
Some of you have called the Company recently asking questions regarding the Company’s future, strategy and stock price. I would like to take this opportunity to recap some of our key activities over the last several months, address a number of your questions and outline our intentions going forward strategy.
Background:
Signature Leisure, Inc. previously operated three (3) separate operating units: Signature Auto, E Cubed Technologies and Parker Productions. In January 2007, the Company discontinued operations of Signature Auto and cancelled the license with the State of Florida. One of the main reasons was that the profitability for the operation would not support the high expenses. We continue to operate E Cubed and Parker Productions, however there are no significant ongoing expenses within these two divisions.
Strategy Going Forward:
In January 2007, Signature launched a new division focused on Investor Relations and Consulting Services to both public and private companies.
We offer public companies a full suite of services. The packages are flexible in support of clients needs. Our clients can choose to have Signature serve as their only IR program or we can work along side their in-house IR staff. We can deliver a complete package of communication services to meet the needs of public companies.
We assist privately held corporations by providing consulting services relating to business structure and organizational management. In addition, we assist with corporate planning and strategic growth management.
This new Investor Relations and Consulting Services operating unit within Signature has provided the Company with a turn around of the Company’s financials. Signature’s revenues increased over 1,600% during the first quarter of 2007 compared to the same quarter in 2006. Total operating expenses were reduced by $380,429 during the first quarter of 2007 compared to the same quarter 2006. The Company’s net loss was reduced by $561,770 the first quarter of 2007 compared to the same quarter in 2006. For more information on Signature’s complete financial statements, please review the company’s recent 10-QSB filing available on SEC website.
Stock Price:
Many of our Shareholders have been concerned about the current stock price and the decline it has experienced over the last twelve months. I also share the concern of my fellow Shareholders. However, I am more concerned about building the intrinsic value per share of our Company than in the day-to-day fluctuations in our stock price. Here’s what I am doing to work to attempt to rebuild Shareholder value:
First, in April of this year, Signature withdrew its Registration Statement on Form SB-2, File No. 333-137736, of 50,000,000 shares. No securities had been sold pursuant to the Registration Statement. I believe that it was in the best interest of the Company and Shareholders to cancel the Registration Statement. The Registration was canceled because the Company did not want to raise additional capital through the issuance of additional shares, which would have negatively affected the Company’s stock price. The Company’s recent turn around in financials has afforded management the ability to operate from cash flow.
The Company determined that due to cash flows within Signature’s new Investor Relations and Consulting Division that we would not need to raise additional capital at this time, thus the cancellation of the Registration Statement
Second, we will continue to pursue additional clients that require Investor Relation services, in addition to private companies that desire business and consulting services. Signature has added to our list of clients since the last such announcement in April and we will continue to work diligently to continue to increase our growing list of clients.
Third, we will seek to expand our management team with individuals that are success driven with compensation packages tied to profitability. We will also pursue the expansion of our Board of Directors to accelerate the growth of the company and to ensure adequate corporate governance.
In closing:
I would like to personally thank each and every Shareholder for their support. Stock prices do not go up every day, but with the strategies we are pursuing, I am confident our intrinsic value per share will continue to climb. I strongly believe that will translate into positive Shareholder value over time. I am proud to be President of the Company and I look forward to continue building our Company into a larger, more profitable company.
Respectfully,
Stephen W. Carnes
President
Signature Leisure, Inc.
About Signature Leisure, Inc. (OTC BB:SGLS.OB – News) — Signature Leisure, Inc. is a publicly traded company trading on the OTC Bulletin Board under the symbol SGLS. For more information about Signature Leisure, Inc., please visit the Company’s website at http://www.signatureleisure.com
This press release contains certain “forward-looking” statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates reflecting the company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by the company. Additionally, other risks include, but are not limited to, the company’s ability to continue to develop operations, the company’s access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be Identified from time to time in the company’s public announcements.
Contact:
Contact:
Signature Leisure, Inc.
Stephen W. Carnes
407-599-2886
Email Contact
Source: Signature Leisure, Inc.
View the StockGuru Profile for Signature Leisure:
http://www.stockguru.com/profiles/sgls/
We Invite you to Visit the All New StockGuru Blog!
Here you will find updates on all our covered companies, including Profiled Companies and StockGuru Picks.
Click HERE to visit the Blog, or go to:
http://stockguru.com/blog/
StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (469) 252-3030. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure:Pentony Enterprises LLC expects to be compensated $15,000 directly from the company for profile coverage. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
