Signet Not Moving Forward on ConnREAP to Focus on SEC Filings & Other Technologies
Signet International Holdings, Inc., has made the strategic decision to no longer pursue the ConnREAP Technology due to the extensive testing and costs involved, freeing up resources to become current with the SEC, and to focus on technologies that provide a greater opportunity for Signet.
The decision on ConnReap development follows an assessment that, in order to begin commercializing ConnREAP, the product must undergo much more testing and clinical trials. Data to complete the process could take at least one year to accumulate, with cost estimates in excess of $225,000 minimum.
Signet is presently undergoing routine auditing and updating its SEC filings while advancing other technologies. In this light, the company has chosen not move forward with ConnREAP. Instead, it will focus its energies on developing its other technologies and concentrate its resources on completion of the audit to ensure all SEC filings are current. The auditing CPA firm has projected time of completion by the end of the year.