iSIGN Reports Fiscal 2015 Results
REDWOOD SHORES, CA, April 6, 2016 – iSign Solutions Inc. (“iSIGN”) (OTCQB: ISGN), a leading supplier of electronic signature and other software solutions enabling secure, cost-effective and paperless management of contracts and other document-based transactions, today reported total revenue of $1,620,000 for the year ended December 31, 2015, an increase of $105,000, or 7%, compared to total revenue of $1,515,000 for the prior year.
“The results for the fourth quarter were 30% higher than the prior quarter and consistent with those of the fourth quarter of 2014,” said Philip Sassower, co-chairman and chief executive officer for iSIGN. “During 2015, we continued investing a high percentage of our budget in software development activities in support of the exclusive business and technology partnership with France-based Cegedim, as well as our significant U.S. financial services sector customers. Our ongoing investment in development assures that iSIGN’s electronic signature and enterprise work flow solutions are highly competitive both domestically and internationally. As previously reported, we have changed the name of the company from Communication Intelligence Corporation to iSIGN Solutions Inc. as a clear indication of our continuing commitment to cutting edge electronic signature solutions in a rising digital transaction management sector.”
For the year ended December 31, 2015, operating expenses were $5,445,000, an increase of $117,000, or 2%, compared to operating expenses of $5,328,000 in the prior year. This increase primarily was due to higher stock option expenses and certain expenses related to a proposed public offering offset by lower overhead expenses.
For the year ended December 31, 2015, the net loss attributable to common stockholders was $7,619,000, an increase of $240,000, or 3%, compared to a net loss attributable to common stockholders of $7,379,000 in the prior year. This increase primarily was due to a $12,000 increase in loss from operations from 2014 to 2015, resulting from the above mentioned increase in revenue offset by an increase in operating expenses, a $205,000 decrease in interest expense, a $53,000 increase in amortization of debt discount, a $126,000 decrease in accretion of beneficial conversion feature and a $42,000 decrease in other income and gains, offset by a $464,000 increase in preferred stock dividend expense.
Additional financial information regarding iSIGN’s operating results for the year ended December 31, 2015, will be available in the Company’s Annual Report on Form 10-K that will be filed with the Securities and Exchange Commission and available at www.sec.gov.
iSIGN (formerly known as Communication Intelligence Corporation or CIC) is a leading provider of digital transaction management (DTM) software enabling fully digital (paperless) business processes. iSIGN’s solutions encompass a wide array of functionality and services, including electronic signatures, simple-to-complex workflow management and various options for biometric authentication. These solutions are available across virtually all enterprise, desktop and mobile environments as a seamlessly integrated software platform for both ad-hoc and fully automated transactions. iSIGN’s software platform can be deployed both on-premise and as a cloud-based service, with the ability to easily transition between deployment models. iSIGN is headquartered in Silicon Valley. For more information, please visit our website at www.isignnow.com. iSIGN’s logo is a trademark of iSIGN.
FORWARD LOOKING STATEMENTS
Certain statements contained in this press release, including without limitation, statements containing the words “believes”, “anticipates”, “hopes”, “intends”, “expects”, and other words of similar import, constitute “forward looking” statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the company’s technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect customer purchases of the company’s solutions; (3) the company’s inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the company; and (4) general economic and business conditions.
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