----

----

| x | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|---------------------------------------------------------------------------------------------------|

| o | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---|----------------------------------------------------------------------------------------------------|

| California(State      or Other Jurisdiction ofIncorporation or      Organization) | 95-3876317(I.R.S.      EmployerIdentification      No.) |
|-----------------------------------------------------------------------------------|---------------------------------------------------------|

----

| Large      Accelerated Filer   o                                                 | Accelerated      Filer    ̈    |
|--------------------------------------------------------------------------------------------|----------------------------------------------|
| Non-accelerated      Filer   o(Do      not check if a smaller reporting company) | Smaller      reporting company   x |

----

----

| PART      I  | FINANCIAL      INFORMATION                                                                            | Page   |
|--------------|-------------------------------------------------------------------------------------------------------|--------|
|         |                                                                                                  |   |
| Item      1  | Financial      Statements                                                                             |   |
|         |                                                                                                  |   |
|         | Balance      Sheets                                                                                   | 3      |
|         |                                                                                                  |   |
|         | Statements      of Income                                                                             | 5      |
|         |                                                                                                  |   |
|         | Statements      of Cash Flows                                                                         | 6      |
|         |                                                                                                  |   |
|         | Notes      to the Financial Statements                                                                | 7      |
|         |                                                                                                  |   |
| Item      2  | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations | 11     |
|         |                                                                                                  |   |
| Item      3  | Quantitative      and Qualitative Disclosures About Market Risk                                       | 13     |
|         |                                                                                                  |   |
| Item      4  | Controls      and Procedures                                                                          | 14     |
|         |                                                                                                  |   |
| PART      II | OTHER      INFORMATION                                                                                | 14     |
|         |                                                                                                  |   |
| Item      1  | Legal      Proceedings                                                                                | 14     |
|         |                                                                                                  |   |
| Item      1A | Risk      Factors                                                                                     | 14     |
|         |                                                                                                  |   |
| Item      2  | Unregistered      Sales of Equity Securities and Use of Proceeds                                      | 14     |
|         |                                                                                                  |   |
| Item      3  | Defaults      upon Senior Securities                                                                  | 14     |
|         |                                                                                                  |   |
| Item      4  | Removed      and Reserved                                                                             | 14     |
|         |                                                                                                  |   |
| Item      5  | Other      Information                                                                                | 15     |
|         |                                                                                                  |   |
| Item      6  | Exhibits                                                                                              | 15     |

----

----

| ASSETS                                                                                   |   |
|------------------------------------------------------------------------------------------|--------|
|                                                                                     |   |   |   |   |   |   |
|                                                                                     |   | January      31, |   |   | October      31, |   |
|                                                                                     |   | 2010 |   |   | 2009 |   |
| Current      assets                                                                      |   |   |   |   |   |   |
|                                                                                     |   |   |   |   |   |   |
| Cash      and cash equivalents                                                           |   | $ | 398,662 |   |   | $ | 431,037 |   |
| Accounts      receivable - trade, net of allowance for doubtful accounts of      $42,163 |   |   | 2,788,890 |   |   |   | 2,565,125 |   |
| Inventory                                                                                |   |   | 3,841,218 |   |   |   | 3,843,793 |   |
| Promotional      products and materials                                                  |   |   | 180,142 |   |   |   | 209,847 |   |
| Prepaid      expenses and other current assets                                           |   |   | 345,433 |   |   |   | 263,594 |   |
| Deferred      income taxes                                                               |   |   | 376,500 |   |   |   | 376,500 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Total      current assets                                                                |   |   | 7,930,845 |   |   |   | 7,689,896 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Property and equipment,      net                                                         |   |   | 328,228 |   |   |   | 313,324 |   |
| Deposits      and other assets                                                           |   |   | 104,000 |   |   |   | 250,500 |   |
| Deferred      income taxes                                                               |   |   | 2,600,700 |   |   |   | 2,600,700 |   |
|                                                                                     |   |   |   |   |   |   |   |   |
| Total      assets                                                                        |   | $ | 10,963,773 |   |   | $ | 10,854,420 |   |

----

----

| LIABILITIES      AND SHAREHOLDERS’ EQUITY                                                                                                                                               |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                          |   |   |   |   |   |   |
|                                                                                                                                                                                          |   | January      31, |   |   | October      31, |   |
|                                                                                                                                                                                          |   | 2010 |   |   | 2009 |   |
| Current      liabilities                                                                                                                                                                      |   |   |   |   |   |   |
| Accounts      payable - trade                                                                                                                                                                 |   | $ | 3,558,698 |   |   | $ | 3,532,159 |   |
| Accrued      expenses and other current liabilities                                                                                                                                           |   |   | 1,451,173 |   |   |   | 1,538,516 |   |
| Current      portion of long-term debt                                                                                                                                                        |   |   | 415,000 |   |   |   | 415,000 |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Total      current liabilities                                                                                                                                                                |   |   | 5,424,871 |   |   |   | 5,485,675 |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Long-term debt, net of      current portion                                                                                                                                                   |   |   | 3,832,500 |   |   |   | 3,805,000 |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Total      liabilities                                                                                                                                                                        |   |   | 9,257,371 |   |   |   | 9,290,675 |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Commitments      and contingencies                                                                                                                                                            |   |   |   |   |   |   |   |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Shareholders’      equity                                                                                                                                                               |   |   |   |   |   |   |   |   |
| Preferred      stock, $0.001 par value                                                                                                                                                        |   |   |   |   |   |   |   |   |
| 5,000,000      shares authorized                                                                                                                                                              |   |   |   |   |   |   |   |   |
| Series      A 2% convertible preferred stock, $0.001 par value; liquidation      preference (approximately $919,000 and $915,000 at January 31, 2010 and      October 31, 2009, respectively) |   |   |   |   |   |   |   |   |
| 1,360,000      shares authorized                                                                                                                                                              |   |   |   |   |   |   |   |   |
| 1,200,000      shares issued and outstanding                                                                                                                                             |   |   | 1,200 |   |   |   | 1,200 |   |
| Common      stock, $0.001 par value                                                                                                                                                           |   |   |   |   |   |   |   |   |
| 30,000,000      shares authorized                                                                                                                                                             |   |   |   |   |   |   |   |   |
| 6,955,639      shares issued and outstanding                                                                                                                                                  |   |   | 6,956 |   |   |   | 6,956 |   |
| Additional      paid-in capital                                                                                                                                                               |   |   | 15,656,812 |   |   |   | 15,656,812 |   |
| Accumulated      deficit                                                                                                                                                                      |   |   | (13,958,566 | ) |   |   | (14,101,223 | ) |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Total      shareholders’ equity                                                                                                                                                         |   |   | 1,706,402 |   |   |   | 1,563,745 |   |
|                                                                                                                                                                                          |   |   |   |   |   |   |   |   |
|  Total      liabilities and shareholders’ equity                                                                                                                                   |   | $ | 10,963,773 |   |   | $ | 10,854,420 |   |

----

----

|                                             |   | 2010   |      |   | 2009   |   |
|--------------------------------------------------|--------|--------|-----------|--------|--------|--------|
|                                             |   |   |      |   |   |   |
| Net      sales                                   |   | $      | 5,168,880 |   |   | $      | 5,959,355 |   |
| Cost      of sales                               |   |   | 1,920,797 |   |   |   | 2,110,716 |   |
|                                             |   |   |      |   |   |   |   |   |
| Gross      profit                                |   |   | 3,248,083 |   |   |   | 3,848,639 |   |
|                                             |   |   |      |   |   |   |   |   |
| Operating      expenses                          |   |   |      |   |   |   |   |   |
| Selling                                          |   |   | 1,905,636 |   |   |   | 2,138,817 |   |
| General      and administrative                  |   |   | 1,108,591 |   |   |   | 1,424,125 |   |
| Depreciation      and amortization               |   |   | 44,929    |   |   |   | 34,828 |   |
| Total      operating expenses                    |   |   | 3,059,156 |   |   |   | 3,597,770 |   |
|                                             |   |   |      |   |   |   |   |   |
| Income      from operations                      |   |   | 188,927   |   |   |   | 250,869 |   |
|                                             |   |   |      |   |   |   |   |   |
| Interest      expense                            |   |   | (45,835   | )      |   |   | (51,043 | ) |
|                                             |   |   |      |   |   |   |   |   |
| Income      before taxes                         |   |   | 143,092   |   |   |   | 199,826 |   |
| Income      taxes                                |   |   | 435       |   |   |   | 1,081 |   |
|                                             |   |   |      |   |   |   |   |   |
| Net      income                                  |   |   | 142,657   |   |   |   | 198,745 |   |
| Preferred      stock dividend                    |   | $      | (4,554    | )      |   | $      | (4,464 | ) |
| Net      income available to common shareholders |   | $      | 138,103   |   |   | $      | 194,281 |   |
| Basic      earnings per share                    |   | $      | 0.02      |   |   | $      | 0.03 |   |
| Diluted      earnings per share                  |   | $      | 0.02      |   |   | $      | 0.02 |   |
|                                             |   |   |      |   |   |   |   |   |
| Weighted-average      common shares              |   |   |      |   |   |   |   |   |
| outstanding      - Basic                         |   |   | 6,955,639 |   |   |   | 6,955,639 |   |
|                                             |   |   |      |   |   |   |   |   |
| Weighted-average      common shares              |   |   |      |   |   |   |   |   |
| outstanding      - Diluted                       |   |   | 8,327,761 |   |   |   | 8,300,776 |   |

----

----

|                                                                                    |   | 2010   |     |   | 2009   |   |
|-----------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
| Cash      flows from operating activities                                               |   |   |     |   |   |   |
| Net      income                                                                         |   | $      | 142,657  |   |   | $      | 198,745 |   |
| Adjustments      to reconcile net income to net cash used in operating      activities: |   |   |     |   |   |   |   |   |
| Depreciation      and amortization                                                      |   |   | 44,929   |   |   |   | 34,828 |   |
| (Increase)      decrease in:                                                            |   |   |     |   |   |   |   |   |
| Accounts      receivable - trade                                                        |   |   | (223,765 | )      |   |   | (754,105 | ) |
| Inventories                                                                             |   |   | 2,575    |   |   |   | 344,458 |   |
| Promotional      products and materials                                                 |   |   | 29,705   |   |   |   | (73,489 | ) |
| Prepaid      expenses and other current assets                                          |   |   | (81,839  | )      |   |   | 78,069 |   |
| Increase      (decrease) in:                                                            |   |   |     |   |   |   |   |   |
| Accounts      payable - trade                                                           |   |   | 26,539   |   |   |   | (58,581 | ) |
| Accrued      expenses and other current liabilities                                     |   |   | (87,343  | )      |   |   | (172,156 | ) |
|                                                                                    |   |   |     |   |   |   |   |   |
| Net      cash used in operating activities                                              |   |   | (146,542 | )      |   |   | (402,231 | ) |
|                                                                                    |   |   |     |   |   |   |   |   |
| Cash      flows from investing activities                                               |   |   |     |   |   |   |   |   |
| Purchase      of property and equipment                                                 |   |   | (59,833  | )      |   |   | (31,045 | ) |
| Deposits      and other assets                                                          |   |   | 146,500  |   |   |   | (145 | ) |
|                                                                                    |   |   |     |   |   |   |   |   |
| Net      cash provided by (used in) investing activities                                |   |   | 86,667   |   |   |   | (31,190 | ) |
|                                                                                    |   |   |     |   |   |   |   |   |
| Cash      flows from financing activities                                               |   |   |     |   |   |   |   |   |
| Net      increase in lines of credit                                                    |   |   | 100,000  |   |   |   | 550,000 |   |
| Payments      on short-term debt                                                        |   |   | —  |   |   |   | — |   |
| Payments      on long-term debt                                                         |   |   | (72,500  | )      |   |   | (72,500 | ) |
| Borrowings      on long-term debt                                                       |   |   | —  |   |   |   | — |   |
|                                                                                    |   |   |     |   |   |   |   |   |
| Net      cash provided by financing activities                                          |   |   | 27,500   |   |   |   | 477,500 |   |
|                                                                                    |   |   |     |   |   |   |   |   |
| Net      (decrease) increase in cash and cash equivalents                               |   |   | (32,375  | )      |   |   | 44,079 |   |
|                                                                                    |   |   |     |   |   |   |   |   |
|                                                                                    |   |   |     |   |   |   |   |   |
| Cash      and cash equivalents, beginning of period                                     |   |   | 431,037  |   |   |   | 305,628 |   |
|                                                                                    |   |   |     |   |   |   |   |   |
| Cash      and cash equivalents, end of period                                           |   | $      | 398,662  |   |   | $      | 349,707 |   |
|                                                                                    |   |   |     |   |   |   |   |   |
|                                                                                    |   |   |     |   |   |   |   |   |
| Supplemental      disclosures of cash flow information                                  |   |   |     |   |   |   |   |   |
|                                                                                    |   |   |     |   |   |   |   |   |
| Interest      paid                                                                      |   | $      | 23,542   |   |   | $      | 33,759 |   |
|                                                                                    |   |   |     |   |   |   |   |   |
| Income      taxes paid                                                                  |   | $      | 435      |   |   | $      | 1,081 |   |

----

| Note      1.   | Organization      and Line of Business |
|--------------------------|----------------------------------------|

| Note      2.   | Summary      of Significant Accounting Policies |
|--------------------------|-------------------------------------------------|

| Office      furniture and equipment | 7      years                                                                                        |
|-------------------------------------|-----------------------------------------------------------------------------------------------------|
| Computer      equipment             | 3      years                                                                                        |
| Software                            | 3      years                                                                                        |
| Machinery      and equipment        | 5      years                                                                                        |
| Leasehold      improvements         | Term      of the lease or the estimated life of the related improvements, whichever      is shorter |

----

| Three      months ended January 31, 2010 |   | Income(Numerator) |    |   |   | Shares(Denominator) |      |   | Per      ShareAmount |   |
|------------------------------------------|--------|-------------------|---------|--------|--------|---------------------|-----------|--------|----------------------|--------|
| Basic      earnings per share            |   | $                 | 138,103 |   |   |                | 6,955,639 |   |                 | $      | 0.02 |   |
| Conversion      of preferred stock       |   |              | 4,554   |   |   |                | 1,372,122 |   |                 |   | 0.00 |   |
| Diluted      earnings per share          |   | $                 | 142,657 |   |   |                | 8,327,761 |   |                 | $      | 0.02 |   |

| Three      months ended January 31, 2009 |   | Income(Numerator) |    |   | Shares(Denominator) |   |      | Per      ShareAmount |   |
|------------------------------------------|--------|-------------------|---------|--------|---------------------|--------|-----------|----------------------|--------|
|                                     |   |              |    |   |                |   |      |                 |   |
| Basic      earnings per share            |   | $                 | 194,281 |   |                |   | 6,955,639 |                 |   | $ | 0.03 |   |
| Conversion      of preferred stock       |   |              | 4,464   |   |                |   | 1,345,137 |                 |   |   | 0.00 |   |
| Diluted      earnings per share          |   | $                 | 198,745 |   |                |   | 8,300,776 |                 |   | $ | 0.02 |   |

|                    |   | 2010   |    |   | 2009   |   |
|-------------------------|--------|--------|---------|--------|--------|--------|
|                    |   |   |    |   |   |   |
| Stock      options      |   |   | — |   |   |   | 34,300 |   |
| Warrants                |   |   | 300,000 |   |   |   | 300,000 |   |
|    Total |   |   | 300,000 |   |   |   | 334,300 |   |

----

| Note      3.   | Long-Term      Debt |
|--------------------------|---------------------|

----

|                                                        |   | January      31,2010 |      |   | October      31, 2009 |   |
|-------------------------------------------------------------|--------|----------------------|-----------|--------|-----------------------|--------|
| Revolving      line of credit from Comerica Bank            |   | $                    | 2,600,000 |   |                  | $      | 2,500,000 |   |
| Revolving      line of credit from Bluebird Finance Limited |   |                 | 1,522,500 |   |                  |   | 1,595,000 |   |
| Term      note payable to Ashford Capital, LLC.             |   |                 | 125,000   |   |                  |   | 125,000 |   |
|                                                        |   |                 | 4,247,500 |   |                  |   | 4,220,000 |   |
|                                                        |   |                 |      |   |                  |   |   |   |
| Less      current portion                                   |   |                 | (415,000  | )      |                  |   | (415,000 | ) |
| Long-term      portion                                      |   | $                    | 3,832,500 |   |                  | $      | 3,805,000 |   |

| Note      4.   | Income      Taxes |
|--------------------------|-------------------|

----

| Item 2. | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations |
|---------|-------------------------------------------------------------------------------------------------------|

----

|                               |   | Three      Months Ended |   |
|------------------------------------|--------|-------------------------|--------|
|                               |   | January      31,        |   |
|                               |   | 2010                    |   |   | 2009 |   |
| Net      sales                     |   |                    | 100.0  | % |   |   | 100.0 | % |
| Cost      of sales                 |   |                    | 37.2   |   |   |   | 35.4 |   |
| Gross      profit                  |   |                    | 62.8   |   |   |   | 64.6 |   |
| Operating      expenses:           |   |                    |   |   |   |   |   |   |
| Selling                            |   |                    | 36.8   |   |   |   | 35.9 |   |
| General      and administrative    |   |                    | 21.4   |   |   |   | 23.9 |   |
| Depreciation      and amortization |   |                    | 0.9    |   |   |   | 0.6 |   |
| Total      operating expenses      |   |                    | 59.1   |   |   |   | 60.4 |   |
| Income      from operations        |   |                    | 3.7    |   |   |   | 4.2 |   |
| Interest      expense              |   |                    | 0.9    |   |   |   | 0.9 |   |
| Income      before taxes           |   |                    | 2.8    |   |   |   | 3.3 |   |
| Income      taxes                  |   |                    | 0.0    |   |   |   | 0.0 |   |
| Net      income                    |   |                    | 2.8    | % |   |   | 3.3 | % |

----

| Item      3.  | Quantitative      and Qualitative Disclosures About MarketRisk |
|--------------------|----------------------------------------------------------------|

----

| Item      4.  | Controls      and Procedures |
|--------------------|------------------------------|

| Item      1.  | Legal      Proceedings |
|--------------------|------------------------|

| Item      1A.  | Risk      Factors |
|---------------------|-------------------|

| Item      2.  | Unregistered      Sales of Equity Securities and Use ofProceeds |
|--------------------|-----------------------------------------------------------------|

| Item      3.  | Defaults      upon Senior Securities |
|--------------------|--------------------------------------|

| Item      4.  | Removed      and Reserved |
|--------------------|---------------------------|

----

| Item      5.  | Other      Information |
|--------------------|------------------------|

| Item      6.  | Exhibits |
|--------------------|----------|

----

| Date:      March 5, 2010 | SIGNATURE      EYEWEAR, INC.  By:       /s/ Michael PrinceMichael      PrinceChief      Executive OfficerChief      Financial Officer |
|--------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Exhibit      Number | Exhibit Description                                                                                                                                                                                                                                                    |
|---------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                |                                                                                                                                                                                                                                                                   |
| 10.1                | Amendment      No. 1 dated December 15, 2009 to Loan and Security Agreement between      Signature Eyewear, Inc. and Comerica Bank.                                                                                                                                    |
|                |                                                                                                                                                                                                                                                                   |
| 10.2                | License      Agreement dated January 19, 2010 between Signature Eyewear, Inc. and Laura      Ashley, Inc.  [Portions of this Exhibit have been deleted and      filed separately with the Commission pursuant to a request for      Confidential Treatment.] |
|                |                                                                                                                                                                                                                                                                   |
| 31.1                | Certification      Pursuant to SEC Rule 13a-14(a)/15d-14(a)                                                                                                                                                                                                            |
|                |                                                                                                                                                                                                                                                                   |
| 32.1                | Certification      Pursuant to 18 U.S.C. § 1350                                                                                                                                                                                                              |

----