iSign Reports Third Quarter 2019 Results
SAN JOSE, CA, November 14, 2019 – iSign Solutions Inc. (“iSIGN”) (OTC Pink: ISGN), a leading supplier of electronic signature and other software solutions enabling secure and cost-effective management of document-based digital transactions, today reported total revenue of $213,000 for the quarter ended September 30, 2019, an increase of $16,000, or 8%, compared to total revenue of $197,000 for the prior year.
“Third quarter operating results remained steady and showed a small improvement compared to the same period in 2018,” said Philip Sassower, co-chairman and chief executive officer for iSIGN. “Transaction volume dropped slightly, compared to the increased level in the first half of 2019, as a result of the anticipated reduction in business activity in the summer months. We expect positive growth trends to resume in the fourth quarter and over the course of 2020.”
For the quarter ended September 30, 2019, operating expenses were $364,000, a decrease of $25,000, or 6%, compared to operating expenses of $389,000 in the prior year. This decrease primarily was due to reductions in the general and administrative expenses, resulting from lower stock option expense and a bad debt write-off in the prior year.
For the quarter ended September 30, 2019, the net loss was $273,000, an increase of $78,000, or 40%, compared to a net loss of $195,000 in the prior year. This increase primarily was due to a $43,000 negative swing in other income and expense, and a $20,000 increase in interest expense, offset by a $41,000 decrease in loss from operations and a $38,000 decrease in amortization of debt discount.
Additional financial information regarding iSIGN’s operating results for the quarter ended September 30, 2019, will be available in the Company’s Quarterly Report on Form 10-Q 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.
Chief Financial Officer