Signature Leisure, Inc. (OTCBB: SGLS) announced today that the company has filed a request with the Securities and Exchange Commission for an order granting the immediate withdrawal of its Registration Statement on Form SB-2, File No. 333-137736, of 50,000,000 shares. The Registration Statement was originally filed with the Securities and Exchange Commission on October 2, 2006.
Signature's management no longer desired to conduct the offering of securities as contemplated in the Registration Statement. No securities have been sold pursuant to the Registration Statement and all activities in respect of the offering have been discontinued.
Stephen W. Carnes, President of Signature Leisure, Inc., stated, "I believe that it was in the best interest of the Company and shareholders to cancel the Registration Statement. When we originally filed the registration statement, I believed that the company potentially would need to issue those shares to have the necessary capital to operate the business. Due to cash flows within Signature's new Investor Relations Division, I felt that we could now cancel the Registration Statement."
Carnes further stated, "What this means to shareholders is that the 50,000,000 shares which were registered on October 2, 2006, were never issued and the Registration Statement is being canceled. I believe that the registration of the shares had a negative impact on the Company due to the perception of the potential dilution. It is my hope that shareholders and the market will view today's announcement favorably."
Posts: 1986 | From: Florida | Registered: Mar 2006
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from pinksheets: Outstanding Shares: 114,384,947 as of 2006-06-30
from June to December 2006 Carnes issued 107.7M shares - reason for drop from .25 to .02s...
Anyway, Carnes is known as "penny stock genius" and master of PR campaigns; history should repeat itself - PPS of .30+ is not realistic (unless Carnes shows few extra million of revenue) but double/triple from current PPS is possible.
"revenue" PR from today: PRESS RELEASES - QUOTEMEDIA April 20, 2007 - 1:42 PM EDT Signature Receives $150,000 Consulting Agreement From a Recreational Development Company Signature Leisure, Inc. (OTCBB: SGLS) announced today that the company has been awarded a consulting agreement with a recreational development company to provide corporate planning and strategic growth management services.
The new agreement spans a twelve (12) month period and includes a compensation package of $150,000 to Signature for consulting services.
Stephen W. Carnes, President of Signature Leisure, Inc., stated, "I very pleased to announce that Signature continues to expand its base of clients. We are in negotiations with additional prospective clients that we hope will join our growing list of clients in the near future. The team at Signature will assist our clients to achieve the growth that they desire."
Carnes further stated, "The demand for our services has exceeded my original expectations and estimates. Next week we have meetings scheduled with several of the prospective clients to further discuss the clients' needs and the services that Signature can provide. I look forward to updating investors with information as the company continues to grow and reaches additional milestones."
About Signature Leisure, Inc. (OTCBB: SGLS) -- 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. They include, but are not limited to, clients of the company are most often smaller emerging growth companies that often are under-capitalized, thus the potential exists that some clients may have difficulty in fulfilling payment obligations to 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.
This press release is provided for information purposes only and is not intended to constitute an offer to sell or a solicitation of an offer to buy securities.
Contact: Signature Leisure, Inc. Stephen W. Carnes 407-599-2886 info*signatureleisure.com
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