The cartridges have been ordered from Nintendo of Japan and are in the process of manufacturing. They then will be shipped from Japan to our North American and Canadian warehouses for packaging and then shipped to distributors and retailers.
"We are very happy that we are shipping products and receiving very good initial orders for the products," said Kenneth Hurley, Signature Devices, Inc. Chief Executive Officer. "We have recently taken steps to increase our credit line and are happy to report that we were successful in obtaining a higher amount for our accounts receivable financing. We have also taken additional steps with the business so that we can avoid raising capital via our stock to fund manufacturing. Wells Fargo Business credit has agreed verbally to raise our limit to finance the game manufacturing process. AR Funding has already raised our accounts receivable financing limit. We should be signing the paperwork for the new agreement with Wells Fargo this week. We are also anticipating 2-3 other games to ship this month."
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