iSign Solutions Inc. (ISGN) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 30, 2017

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EXHIBIT 99.1
 

communication intelligence corporation



FOR IMMEDIATE RELEASE


CIC REPORTS FISCAL 2010 RESULTS

Transition in Process With New Management Team,
Products and Go-To Market Initiatives


Redwood Shores, CA, March 29, 2011 Communication Intelligence Corporation (“CIC” or the “Company”) (OTCQB: CICI), a leading supplier of electronic signature solutions and the recognized leader in biometric signature verification, reported today total revenue of $851,000 for the year ended December 31, 2010, a decrease of $1,085,000 or 56%, compared to total revenue of $1,936,000 in the prior year.

“We are disappointed with CIC’s performance and are taking aggressive remedial actions,” stated Philip Sassower, CIC’s Chairman and Chief Executive Officer. “These include the Company’s recapitalization to present a stronger, debt-free balance sheet, the injection of additional funds to support the Company’s operations, the installment of a new executive management team with a more relevant set of skills and a significant change in CIC’s product and go-to-market strategies. In particular, we have mandated a greater emphasis on Tier 2 and Tier 3 customers, as well as tighter integration with our existing and prospective partners, and are modifying and growing our technology portfolio to offer products and services that are more suitable to our new target markets. We believe that these actions will build a proper foundation for a successful turnaround of our business.”

For the year ended December 31, 2010, operating expenses were $6,105,000, an increase of $1,399,000 or 30%, compared to operating expenses of $4,706,000 in the prior year. This increase was primarily due to a charge of $1,009,000 related to the accelerated amortization of certain capitalized software development costs, as well as general and administrative costs related to management changes in the latter half of 2010.

For the year ended December 31, 2010, the net loss was $4,159,000, a decrease of $6,607,000 or 61%, compared to a net loss of $10,766,000 in the prior year. This decrease was primarily due to an $8,272,000 swing in the Company’s derivative liability accounting, which went from a $5,136,000 loss in 2009 to a $3,136,000 gain in 2010. This swing is attributable primarily to the use of a market value based discount and a lower price in the calculations for the preferred conversion feature.

Additional financial information regarding CIC’s operating results for the year ended December 31, 2010, is available in the Company’s Form 10-K to be filed with the Securities and Exchange Commission and is available at www.sec.gov.
 
 
 
 
 
 
 
 
 
 

275 shoreline drive #500  ·     redwood shores  ·     ca 94065 usa     ·    650-802-7888 t     ·     650-802-7777 f
 
 

The following information was filed by iSign Solutions Inc. on Tuesday, March 29, 2011 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Exhibit 31.1 - CERTIFICATION

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Exhibit 31.2 - CERTIFICATION

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Exhibit 32.1 - CERTIFICATION

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Exhibit 32.2 - CERTIFICATION

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  • Form Type: Quarterly
  • Number of times amended: 0
  • Accession Number: 0001213900-17-012034
  • Submitted to the SEC: Tuesday, November 14, 2017
  • Accepted by the SEC: Tuesday, November 14, 2017
  • Period Ending: September 2017
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