UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
DC  20549





Form
10-Q




(Mark
one)


x
            Quarterly
      Report Under Section 13 or 15(d) of the Securities Exchange Act of
      1934





For the quarterly period ended
September 30, 2008





o
            
            Transition
      Report Under Section 13 or 15(d) of the Securities Exchange Act of
      1934





For the transition period from
______________ to _____________









Commission
File Number: 000-51185





Signet
International Holdings, Inc.


(Exact
name of small business issuer as specified in its charter)




Delaware
              (State of
      incorporation)
            16-1732674
              (IRS Employer ID
      Number)




205 Worth Avenue, Suite 316,
Palm Beach, Florida 33480


(Address
of principal executive offices)





(561)
832-2000


(Issuer's
telephone number)




Check
whether the issuer (1) filed all reports required to be filed by Section 13 or
15(d) of the Exchange Act during the past 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days.  YESx  NOo





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting
company.  See the definitions of “large accelerated filer”,
“accelerated filer” and “smaller reporting company” in Rule 12b-2 of the
Exchange Act. (Check one):





Large
      accelerated filer
            o
            Accelerated
      filer
            o


Non-accelerated
      filer
            o
            Smaller
      reporting company
            x





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act):


YESx  NOo





State the
number of shares outstanding of each of the issuer's classes of common equity as
of the latest practicable date:August 11, 2008:
4,527,962

















Signet
International Holdings, Inc.





Form 10-Q
for the Quarter ended September 30, 2008





Table of
Contents




PagePart I - Financial
      InformationItem 1 - Financial
      Statements
            3Item 2 -
      Management's Discussion and Analysis or Plan of Operation
            14Item 3 -
      Quantitative and Qualitative Disclosures About Market Risk
            16Item 4 - Controls
      and Procedures
            16Part II - Other
      InformationItem 1 - Legal
      Proceedings
            16Item 2 - Recent
      Sales of Unregistered Securities and Use of Proceeds
            17Item 3 - Defaults
      Upon Senior Securities
            17Item 4 - Submission
      of Matters to a Vote of Security Holders
            17Item 5 - Other
      Information
            17Item 6 -
      Exhibits
            17Signatures
            17












Item 1


Part
1 - Financial Statements




Signet
      International Holdings, Inc. and Subsidiary
                (a
      development stage enterprise)
                Consolidated
      Balance Sheets
                September
      30, 2008 and December 31, 2007
                
                (Unaudited)September
      30,
                2008
              
              
              December
      31,
                2007ASSETSCurrent
      AssetsCash in
      bank
              
              $
              59,810
              
              
              $
              42,434Other
      AssetsOption
      agreement
              
              
              100,000
              
              
              
              -Broadcast and
      intellectual properties,net of
      accumulated amortization of $-0-
              
              
              4,007,249
              
              
              
              4,007,249Total
      other assets
              
              
              4,107,249
              
              
              
              4,007,249Total
      Assets
              
              $
              4,167,059
              
              
              $
              4,049,683LIABILITIES AND
      SHAREHOLDERS’ EQUITY (DEFICIT)LiabilitiesCurrent
      LiabilitiesAccounts
      payable - trade
              
              $
              133,912
              
              
              $
              87,128Other
      accrued liabilities
              
              
              307,875
              
              
              
              209,175Accrued
      officer compensation
              
              
              338,920
              
              
              
              286,170Total
      Current Liabilities
              
              
              780,707
              
              
              
              582,423Commitments
      and ContingenciesShareholders’
      Equity (Deficit)Preferred stock
      - $0.001 par value50,000,000 shares
      authorized5,000,000 shares
      designated,issued and
      outstanding, respectively
              
              
              5,000
              
              
              
              5,000Common
      stock - $0.001 par value.100,000,000 shares
      authorized.4,706,962 and
      4,504,962 shares issued and outstanding, respectively
              
              
              4,707
              
              
              
              4,505Additional
      paid-in capital
              
              
              4,847,339
              
              
              
              4,688,741Deficit
      accumulated during the development stage
              
              
              (1,470,694
              )
              
              
              (1,230,986
              )Total
      Shareholders’ Equity (Deficit)
              
              
              3,386,352
              
              
              
              3,467,260Total
      Liabilities and Shareholders’ Equity
              
              $
              4,167,059
              
              
              $
              4,049,683
       3
 Signet
International Holdings, Inc. and Subsidiary
 (a
development stage enterprise)
 Consolidated
Statements of Operations and Comprehensive Loss
 Nine and
Three months ended September 30, 2008 and 2007 and
 Period
from October 17, 2003 (date of inception) through September 30,
2008
 
 (Unaudited)
 October
      17, 2003Nine
      months
                  
                  
                  Nine
      months
                  
                  
                  Three
      months
                  
                  
                  Three
      months
                  
                  
                  (date
      of inception)ended
                  
                  
                  ended
                  
                  
                  ended
                  
                  
                  ended
                  
                  
                  throughSeptember
      30,
                  
                  
                  September
      30,
                  
                  
                  September
      30,
                  
                  
                  September
      30,
                  
                  
                  September
      30,2008
                  
                  
                  2007
                  
                  
                  2008
                  
                  
                  2007
                  
                  
                  2008Revenues
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -ExpensesOrganizational
      andformation
      expenses
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  89,801Officer
      compensation
                  
                  
                  52,500
                  
                  
                  
                  52,500
                  
                  
                  
                  17,500
                  
                  
                  
                  17,500
                  
                  
                  
                  344,170Other
      salaries
                  
                  
                  91,000
                  
                  
                  
                  76,750
                  
                  
                  
                  32,500
                  
                  
                  
                  24,500
                  
                  
                  
                  274,625Other
      general andadministrative
      expenses
                  
                  
                  96,208
                  
                  
                  
                  88,855
                  
                  
                  
                  44,716
                  
                  
                  
                  26,018
                  
                  
                  
                  571,668“Consulting
      expense”related
      to sale ofcommon
      stock atless
      than “fair value”
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  181,430Total
      Expenses
                  
                  
                  239,708
                  
                  
                  
                  218,105
                  
                  
                  
                  94,716
                  
                  
                  
                  68,018
                  
                  
                  
                  1,461,694Loss
      from Operations
                  
                  
                  (239,708
                  )
                  
                  
                  (218,105
                  )
                  
                  
                  (94,716
                  )
                  
                  
                  (68,018
                  )
                  
                  
                  (1,461,694
                  )Other
      ExpenseInterest
      expense
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (9,000
                  )Loss
      beforeProvision
      forIncome
      Taxes
                  
                  
                  (239,708
                  )
                  
                  
                  (218,105
                  )
                  
                  
                  (94,716
                  )
                  
                  
                  (68,018
                  )
                  
                  
                  (1,470,694
                  )Provision
      for Income Taxes
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -Net
      Loss
                  
                  
                  (239,708
                  )
                  
                  
                  (218,105
                  )
                  
                  
                  (94,716
                  )
                  
                  
                  (68,018
                  )
                  
                  
                  (1,470,694
                  )OtherComprehensive
      Income
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -Comprehensive
      Loss
                  
                  $
                  (239,708
                  )
                  
                  $
                  (218,105
                  )
                  
                  $
                  (94,716
                  )
                  
                  $
                  (68,018
                  )
                  
                  $
                  (1,470,694
                  )Loss
      per weighted-averageshare
      of common stockoutstanding,
      computedon
      Net Loss - basic andfully
      diluted
                  
                  $
                  (0.05
                  )
                  
                  $
                  (0.05
                  )
                  
                  $
                  (0.02
                  )
                  
                  $
                  (0.02
                  )
                  
                  $
                  (0.37
                  )Weighted-average
      numberof
      shares of commonstock
      outstanding
                  
                  
                  4,527,652
                  
                  
                  
                  4,328,363
                  
                  
                  
                  4,571,690
                  
                  
                  
                  4,496,810
                  
                  
                  
                  3,931,408
 
  4
 Signet
International Holdings, Inc. and Subsidiary
 (a
development stage enterprise)
 Consolidated
Statements of Cash Flows
 Nine
months ended September 30, 2008 and 2007 and
 Period
from October 17, 2003 (date of inception) through September 30,
2008
 
 (Unaudited)
  Period
      from17-Oct-03Three
      months
                
                
                Three
      months
                
                
                (date
      of inception)ended
                
                
                ended
                
                
                throughSeptember
      30,
                
                
                September
      30,
                
                
                September
      30,2008
                
                
                2007
                
                
                2008Cash
      Flows from Operating ActivitiesNet
      Loss
                
                $
                (239,708
                )
                
                $
                (218,215
                )
                
                $
                (1,470,694
                )Adjustments
      to reconcile net income to net cashprovided
      by operating activitiesDepreciation
                
                
                -
                
                
                
                -
                
                
                
                -Organizational
      expenses paid with issuanceof
      common and preferred stock
                
                
                -
                
                
                
                -
                
                
                
                50,810Expenses
      paid with common stock
                
                
                -
                
                
                
                -
                
                
                
                125,000“Compensation
      expense” relatedto
      sale of common stock atless
      than “fair value”
                
                
                -
                
                
                
                -
                
                
                
                181,430Increase
      (Decrease) inAccounts
      payable - trade
                
                
                46,784
                
                
                
                (19,165
                )
                
                
                58,912Accrued
      liabilities
                
                
                98,750
                
                
                
                85,040
                
                
                
                307,875Accrued
      officers compensation
                
                
                52,750
                
                
                
                52,500
                
                
                
                338,920Net
      cash used in operating activities
                
                
                (41,424
                )
                
                
                (99,730
                )
                
                
                (407,747
                )Cash
      Flows from Investing Activities
                
                
                -
                
                
                
                -
                
                
                
                -Cash
      Flows from Financing ActivitiesCash
      proceeds from note payable
                
                
                -
                
                
                
                -
                
                
                
                90,000Cash
      paid to retire note payable
                
                
                -
                
                
                
                -
                
                
                
                (90,000
                )Cash
      proceeds from sale of common stock
                
                
                58,800
                
                
                
                19,300
                
                
                
                494,189Purchase
      of treasury stock
                
                
                -
                
                
                
                -
                
                
                
                (50,000
                )Cash
      paid to acquire capital
                
                
                -
                
                
                
                -
                
                
                
                (10,447
                )Capital
      contributed to support operations
                
                
                -
                
                
                
                -
                
                
                
                33,815Net
      cash provided by financing activities
                
                
                58,800
                
                
                
                19,300
                
                
                
                467,557Increase
      (Decrease) in Cash and Cash Equivalents
                
                
                17,376
                
                
                
                (80,430
                )
                
                
                59,810Cash
      and cash equivalents at beginning of period
                
                
                42,434
                
                
                
                153,847
                
                
                
                -Cash
      and cash equivalents at end of period
                
                $
                59,810
                
                
                $
                73,417
                
                
                $
                59,810Supplemental
      Disclosures of Interest and Income Taxes PaidInterest
      paid during the period
                
                $
                -
                
                
                $
                9,000
                
                
                $
                9,000Income
      taxes paid (refunded)
                
                $
                -
                
                
                $
                -
                
                
                $
                -Supplemental
      Disclosures of Non-Cash Investing and Financing ActivitiesAcquisition
      of broadcast and intellectual properties withlong-term
      contracts payable and common stock
                
                $
                -
                
                
                $
                4,007,249
                
                
                $
                4,007,249Acquisition
      of option agreement with common stock
                
                $
                100,000
                
                
                $
                -
                
                
                $
                100,000




5







Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements


September
30, 2008 and 2007




Note
A - Organization and Description of Business





Signet
International Holdings, Inc. was incorporated on February 2, 2005 in accordance
with the Laws of the State of Delaware as 51142, Inc.





On
September 8, 2005, pursuant to a Stock Purchase Agreement and Share Exchange
(Agreement) by and among Signet International Holdings, Inc. (Signet); Signet
Entertainment Corporation (SIG) and the shareholders of SIG (Shareholders)
(collectively SIG and the SIG shareholders shall be known as the “SIG Group”),
Signet acquired 100.0% of the then issued and outstanding preferred and common
stock of SIG for a total of 3,421,000 common shares and 5,000,000 preferred
shares of Signet’s stock issued to the SIG Group.  Pursuant to the
agreement, SIG became a wholly owned subsidiary of Signet.





Signet
Entertainment Corporation was incorporated on October 17, 2003 in accordance
with the Laws of the State of Florida.  SIG was formed to establish a
television network “The Gaming and Entertainment Network”.





The
Company is considered in the development stage and, as such, has generated no
significant operating revenues and has incurred cumulative operating losses of
approximately $1,376,000.




Note
B - Preparation of Financial Statements





The
acquisition of Signet Entertainment Corporation by Signet International
Holdings, Inc. effected a change in control of Signet International Holdings,
Inc. and was accounted for as a “reverse acquisition” whereby Signet
Entertainment Corporation was the accounting acquirer for financial statement
purposes.  Accordingly, for all periods subsequent to the “reverse
merger” transaction, the financial statements of the Signet International
Holdings, Inc. reflect the historical financial statements of Signet
Entertainment Corporation from it’s inception and the operations of Signet
International Holdings, Inc. subsequent to the September 8, 2005 transaction
date.





The
Company follows the accrual basis of accounting in accordance with accounting
principles generally accepted in the United States of America and has a year-end
of December 31.





The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses
during the reporting period.  Actual results could differ from those
estimates.





Management
further acknowledges that it is solely responsible for adopting sound accounting
practices, establishing and maintaining a system of internal accounting control
and preventing and detecting fraud.  The Company’s system of internal
accounting control is designed to assure, among other items, that 1) recorded
transactions are valid; 2) valid transactions are recorded; and 3) transactions
are recorded in the proper period in a timely manner to produce financial
statements which present fairly the financial condition, results of operations
and cash flows of the Company for the respective periods being
presented.





During
interim periods, the Company follows the accounting policies set forth in its
annual audited financial statements filed with the U. S. Securities and Exchange
Commission on its Annual Report on Form 10-KSB for the year ended December 31,
2007.  The information presented within these interim financial
statements may not include all disclosures required by generally accepted
accounting principles and the users of financial information provided for
interim periods should refer to the annual financial information and footnotes
when reviewing the interim financial results presented herein.





In the
opinion of management, the accompanying interim financial statements, prepared
in accordance with the U. S. Securities and Exchange Commission’s amended
instructions for Form 10-Q, issued on January 4, 2008, are unaudited and contain
all material adjustments, consisting only of normal recurring adjustments
necessary to present fairly the financial condition, results of operations and
cash flows of the Company for the respective interim periods
presented.  The current period results of operations are not
necessarily indicative of results which ultimately will be reported for the full
fiscal year ending December 31, 2008.






6





Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements - Continued


September
30, 2008 and 2007




Note
B - Preparation of Financial Statements - Continued





The
accompanying consolidated financial statements contain the accounts of Signet
International Holdings, Inc. and its wholly-owned subsidiary, Signet
Entertainment Corporation.  All significant intercompany transactions
have been eliminated.  The consolidated entities are collectively
referred to as “Company”.




Note
C - Going Concern Uncertainty





The
Company remains in the process of implementing it’s business plan, which will
require the raising of additional capital.  As such, the Company is
considered to be a development stage company.





The
Company's continued existence is dependent upon its ability to generate
sufficient cash flows from operations to support its daily operations as well as
provide sufficient resources to retire existing liabilities and obligations on a
timely basis.





The
Company anticipates that future sales of equity securities to fully implement
it’s business plan or to raise working capital to support and preserve the
integrity of the corporate entity may be necessary.  There is no
assurance that the Company will be able to obtain additional funding through the
sales of additional equity securities or, that such funding, if available, will
be obtained on terms favorable to or affordable by the Company.





If no
additional capital is received to successfully implement the Company’s business
plan, the Company will be forced to rely on existing cash in the bank and upon
additional funds which may or may not be loaned by management and/or significant
stockholders to preserve the integrity of the corporate entity at this
time.  In the event, the Company is unable to acquire sufficient
capital, the Company’s ongoing operations would be negatively
impacted.





It is the
intent of management and significant stockholders to provide sufficient working
capital necessary to support and preserve the integrity of the corporate
entity.  However, no formal commitments or arrangements to advance or
loan funds to the Company or repay any such advances or loans
exist.  There is no legal obligation for either management or
significant stockholders to provide additional future funding.





While the
Company is of the opinion that good faith estimates of the Company’s ability to
secure additional capital in the future to reach our goals have been made, there
is no guarantee that the Company will receive sufficient funding to sustain
operations or implement any future business plan steps.




Note
D - Summary of Significant Accounting Policies





1.      Cash and cash
equivalents





For
Statement of Cash Flows purposes, the Company considers all cash on hand and in
banks, certificates of deposit and other highly-liquid investments with
maturities of three months or less, when purchased, to be cash and cash
equivalents.





2.
            Organization
      costs





The
Company has adopted the provisions of AICPA Statement of Position 98-5,
“Reporting on the Costs of Start-Up Activities” whereby all organizational and
initial costs incurred with the incorporation and initial capitalization of the
Company were charged to operations as incurred.





3.
            Research and
      development expenses





Research
and development expenses are charged to operations as incurred.






7








Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements - Continued


September
30, 2008 and 2007




Note
D - Summary of Significant Accounting Policies - Continued





4.
            Advertising
      expenses





The
Company does not utilize direct solicitation advertising.  All other
advertising and marketing expenses are charged to operations as
incurred.





5.
            Income
      Taxes





The
Company uses the asset and liability method of accounting for income
taxes.  At September 30, 2008 and 2007, respectively, the deferred tax
asset and deferred tax liability accounts, as recorded when material to the
financial statements, are entirely the result of temporary
differences.  Temporary differences represent differences in the
recognition of assets and liabilities for tax and financial reporting purposes,
primarily accumulated depreciation and amortization, allowance for doubtful
accounts and vacation accruals.





As of
September 30, 2008 and 2007, the deferred tax asset related to the Company’s net
operating loss carryforward is fully reserved.  Due to the provisions
of Internal Revenue Code Section 338, the Company may have no net operating loss
carryforwards available to offset financial statement or tax return taxable
income in future periods as a result of a change in control involving 50
percentage points or more of the issued and outstanding securities of the
Company.





6.
            Earnings (loss) per
      share





Basic
earnings (loss) per share is computed by dividing the net income (loss)
available to common shareholders by the weighted-average number of common shares
outstanding during the respective period presented in our accompanying financial
statements.





Fully
diluted earnings (loss) per share is computed similar to basic income (loss) per
share except that the denominator is increased to include the number of common
stock equivalents (primarily outstanding options and warrants).





Common
stock equivalents represent the dilutive effect of the assumed exercise of the
outstanding stock options and warrants, using the treasury stock method, at
either the beginning of the respective period presented or the date of issuance,
whichever is later, and only if the common stock equivalents are considered
dilutive based upon the Company’s net income (loss) position at the calculation
date.





At
September 30, 2008 and 2007, and subsequent thereto, the Company’s issued and
outstanding preferred stock is considered anti-dilutive due to the Company’s net
operating loss position.




Note
E - Fair Value of Financial Instruments





The
carrying amount of cash, accounts receivable, accounts payable and notes
payable, as applicable, approximates fair value due to the short term nature of
these items and/or the current interest rates payable in relation to current
market conditions.





Interest
rate risk is the risk that the Company’s earnings are subject to fluctuations in
interest rates on either investments or on debt and is fully dependent upon the
volatility of these rates.  The Company does not use derivative
instruments to moderate its exposure to interest rate risk, if any.





Financial
risk is the risk that the Company’s earnings are subject to fluctuations in
interest rates or foreign exchange rates and are fully dependent upon the
volatility of these rates.  The company does not use derivative
instruments to moderate its exposure to financial risk, if any.







8








Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements - Continued


September
30, 2008 and 2007




Note
F - Income Taxes





The
components of income tax (benefit) expense each of the nine month periods ended
September 30, 2008 and 2007 and for the period from October 17, 2003 (date of
inception) through September 30, 2008, are as follows:




Nine
      months
              ended
              September 30,
              2008
            
            
            Nine
      months
              ended
              September 30,
              2007
            
            
            Period
      from
              October 17, 2003
              (date of
      inception)
              through
              September 30,
              2008Federal:Current
            
            $
            -
            
            
            $
            -
            
            
            $
            -Deferred
            
            
            -
            
            
            
            -
            
            
            
            --
            
            
            
            -
            
            
            
            -State:Current
            
            
            -
            
            
            
            -
            
            
            
            -Deferred
            
            
            -
            
            
            
            -
            
            
            
            --
            
            
            
            -
            
            
            
            -Total
            
            $
            -
            
            
            $
            -
            
            
            $
            -




As of
September 30, 2008, the Company has a net operating loss carryforward of
approximately $654,000 for Federal and State income tax
purposes..  The amount and availability of any future net operating
loss carryforwards may be subject to limitations set forth by the Internal
Revenue Code. Factors such as the number of shares ultimately issued within a
three year look-back period; whether there is a deemed more than 50 percent
change in control; the applicable long-term tax exempt bond rate; continuity of
historical business; and subsequent income of the Company all enter into the
annual computation of allowable annual utilization of the
carryforwards.





The
Company's income tax expense (benefit) for each of the nine month periods ended
September 30, 2008 and 2007 and for the period from October 17, 2003 (date of
inception) through September 30, 2008, respectively, differed from the statutory
federal rate of 34 percent as follows:




Nine
      months
              ended
              September 30,
              2008
            
            
            Nine
      months
              ended
              September 30,
              2007
            
            
            Period
      from
              October 17, 2003
              (date of
      inception)
              through
              September 30,
              2008Statutory rate
      applied to income before income taxes
            
            $
            (81,500
            )
            
            $
            (74,000
            )
            
            $
            (500,000
            )Increase (decrease)
      in income taxes resulting from:
            
            
            -
            
            
            
            -
            
            
            
            -State income
      taxesTiming of
      deductions for accrued compensation
            
            
            17,300
            
            
            
            49,000
            
            
            
            115,000Non-deductible
      consulting fees related to issuanceof
      common stock at less than “fair value”
            
            
            -
            
            
            
            -
            
            
            
            61,700Other,
      including reserve for deferred taxasset and application of net operating loss carryforward
            
            
            64,200
            
            
            
            25,000
            
            
            
            323,300Income tax
      expense
            
            $
            -
            
            
            $
            -
            
            
            $
            -






9







Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements - Continued


September
30, 2008 and 2007




Note
F - Income Taxes - Continued





Temporary
differences, consisting primarily of the prospective usage of net operating loss
carryforwards, statutory deferrals of accrued compensation and non-cash expense
charges for securities issued/sold at less than “fair value”  give
rise to deferred tax assets and liabilities as of September 30, 2008 and
December 31, 2007, respectively:




September
      30,
              2008
            
            
            December
      31,
              2007Deferred tax
      assetsNet operating loss
      carryforwards
            
            $
            222,000
            
            
            $
            194,000Timing of deductions
      for accrued compensation
            
            
            115,000
            
            
            
            122,000Less valuation
      allowance
            
            
            (337,000
            )
            
            
            (316,000
            )Net Deferred Tax
      Asset
            
            $
            -
            
            
            $
            -




Note
G - Preferred Stock





On March
14, 2007, the Company formally designated a series of Super Preferred Stock of
the Company’s 50,000,000 authorized shares of the capital preferred stock of the
Corporation.  The designated Series A Convertible Super Preferred
Stock (the "Series A Super Preferred Stock"), to consist of 5,000,000 shares,
par value $.001 per share, which shall have the following preferences, powers,
designations and other special rights:





Voting:
            Holders
      of the Series A Super Preferred Stock shall have ten votes per share held
      on all matters submitted to the shareholders of the Company for a vote
      thereon.  Each holder of these shares shall have the option to
      appoint two additional members to the Board of Directors.  Each
      share shall be convertible into ten (10) shares of common
      stock.





Dividends:
            The
      holders of Series A Super Preferred Stock shall be entitled to receive
      dividends or distributions on a pro rata basis with the holders of common
      stock when and if declared by the Board of Directors of the
      Company.  Dividends shall not be cumulative.  No
      dividends or distributions shall be declared or paid or set apart for
      payment on the Common Stock in any calendar year unless dividends or
      distributions on the Series A Preferred Stock for such calendar year are
      likewise declared and paid or set apart for payment.  No
      declared and unpaid dividends shall bear or accrue
    interest.





Liquidation


Preference
            Upon
      the liquidation, dissolution and winding up of the Company, whether
      voluntary or involuntary, the holders of the Series A Super Preferred
      Stock then outstanding shall be entitled to, on a pro-rata basis with the
      holders of common stock, distributions of the assets of the Corporation,
      whether from capital or from earnings available for distribution to its
      stockholders.





The Board
of Directors has the authority, without further action by the shareholders, to
issue, from time to time, preferred stock in one or more series for such
consideration and with such relative rights, privileges, preferences and
restrictions that the Board may determine. The preferences, powers, rights and
restrictions of different series of preferred stock may differ with respect to
dividend rates, amounts payable on liquidation, voting rights, conversion
rights, redemption provisions, sinking fund provisions and purchase funds and
other matters. The issuance of preferred stock could adversely affect the voting
power or other rights of the holders of common stock.





On
October 20, 2003, in conjunction with the formation and incorporation of Signet
Entertainment Corporation, SIG issued 4,000,000 shares of preferred stock to the
incorporating persons.   This transaction was valued at
approximately $40,000, which approximates the value of the services
provided.





On July
19, 2005, the Company issued 1,000,000 shares of preferred stock to an existing
shareholder and Company officer for services related to the organization and
structuring of the Company and it’s proposed business plan.  This
transaction was valued at approximately $10,000, which approximates the value of
the services provided.






10








Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements - Continued


September
30, 2008 and 2007




Note
G - Preferred Stock - Continued





Concurrent
with the reverse merger transaction, these shareholders exchanged their Signet
Entertainment Corporation preferred stock for equivalent shares of Signet
International Holdings, Inc. Series A Super Preferred stock, as described
above.




Note
H - Common Stock Transactions





On
October 17, 2003 and November 1, 2003, in connection with the incorporation and
formation of the Company, an aggregate of approximately 3,294,000 shares of
restricted, unregistered shares of common stock and were issued to various
founding individuals.  This combined preferred stock and common stock
issuances were collectively valued at approximately $40,810, which approximated
the fair value of the time provided by the individuals and the related
out-of-pocket expenses.





On June
16, 2004 and December 3, 2004, the Company sold, in three separate transactions
to three unrelated individuals, an aggregate 70,000 shares of restricted,
unregistered common stock for $35,000 cash.  These shares were sold
pursuant to an exemption from registration under Section 4(2) of the Securities
Act of 1933, as amended, and no underwriter was used any of the three
transactions.





Between
July 20, 2005 and August 26, 2005, Signet Entertainment Corporation sold an
aggregate 57,000 shares of common stock to existing and new shareholders at a
price of $0.01 per share for gross proceeds of approximately $570.  As
this selling price was substantially below the “fair value” of comparable
transactions, the Company recognized a charge to operations for consulting
expense equivalent to the difference between the established “fair value” of
$1.00 per share (as determined by the pricing in the September 2005 Private
Placement Memorandum) and the selling price of $0.01 per share.





On
September 9, 2005, the Company commenced the sale of common stock pursuant to a
Private Placement Memorandum in a self-underwritten offering.  This
Memorandum is offering for sale to persons who qualify as accredited investors
and to a limited number of sophisticated investors, on a best efforts basis, up
to 2,000,000 of our common shares at $1.00 per share, for anticipated gross
proceeds of $2,000,000.  The common shares will be offered through the
Company’s officers and directors on a best-efforts basis.  The minimum
investment is $1,000, however, the Company might, at it’s sole discretion,
accept subscriptions for lesser amounts.  Funds received from all
subscribers will be released to the Company upon acceptance of the subscriptions
by the Company’s management.  Through December 31, 2006, the
Company has sold an aggregate 381,000 shares for gross proceeds of $381,000
under this Memorandum.





On March
31, 2006, the Company repurchased 50,000 shares of common stock from the estate
of a deceased shareholder which purchased said shares for $50,000 cash pursuant
to the aforementioned September 2005 Private Placement Memorandum for $50,000
cash.  In June 2006, the Company’s Board of Directors cancelled these
shares and returned them to unissued status.





On June
22, 2006, the Company issued 250,000 shares of unregistered, restricted common
stock, valued at $0.50 per share or $125,000,  in payment of
consulting fees.  As the  agreed-upon value of the services
provided was less than the “fair value” of comparable transactions, the Company
has recognized an additional charge to Consulting Fees equivalent to the
difference between the established “fair value” of $1.00 per share (as
determined by the pricing in the September 2005 Private Placement Memorandum)
and the agreed-upon value of $0.50 per share in the corresponding line item in
the Company’s Statement of Operations.






11







Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements - Continued


September
30, 2008 and 2007




Note
H - Common Stock Transactions - Continued





On April
16, 2007, the Company issued 270,000 shares of unregistered, restricted common
stock for the acquisition of certain broadcast and other production
rights.  These shares were sold pursuant to an exemption from
registration under Section 4(2) of the Securities Act of 1933, as amended, and
no underwriter was used in this transaction.





On May 2,
2007, the Company sold, in a private transaction, 6,800 shares of unregistered,
restricted common stock at a price of $1.00 per share for cash.  These
shares were sold pursuant to an exemption from registration under Section 4(2)
of the Securities Act of 1933, as amended, and no underwriter was used in this
transaction.





On May
22, 2007, the Company issued 113,662 shares of unregistered, restricted common
stock for the acquisition of intellectual properties related to literary
works.  These shares were sold pursuant to an exemption from
registration under Section 4(2) of the Securities Act of 1933, as amended, and
no underwriter was used in this transaction.





On August
30, 2007, the Company sold, in a private transaction, 12,500 shares of
unregistered, restricted common stock at a price of $1.00 per share for
cash.  These shares were sold pursuant to an exemption from
registration under Section 4(2) of the Securities Act of 1933, as amended, and
no underwriter was used in this transaction.





On June
5, 2008, the Company sold, in a private transaction, 3,000 shares of
unregistered, restricted common stock for cash proceeds of $800, which
approximated the fair value and closing quoted price of the Company’s common
stock on the transaction date.  These shares were sold pursuant to an
exemption from registration under Section 4(2) of the Securities Act of 1933, as
amended, and no underwriter was used in this transaction.





On July
24, 2008 the Company issued 20,000 shares of unregistered, restricted common
stock as a deposit on and in consideration for a Purchase Option Agreement
executed on July 23, 2008 with a TV distribution and syndication
company.  The deposit/option fee will be deducted from the total
100,000 shares of unregistered, restricted common stock to be issued upon
closing of the transaction upon exercise of the option.   The
total shares issued and to be issued are part of the terms of the Purchase
Option Agreement that specifies a total purchase price of $3.0 million plus a
management contract to be in place shortly after closing.  Terms of
the management contract requires a payment of $20,000 per month to the present
manager/owner.  The term of Purchase Option Agreement is one year from
date of execution.





On August
19, 2008, the Company sold, in a private transaction, 5,000 shares of
unregistered, restricted common stock for cash proceeds of $3,000, which
approximated the fair value and closing quoted price of the Company's common
stock on the transaction date. These shares were sold pursuant to an exemption
from registration under Section 4(2) of the Securities Act of 1933, as amended,
and no underwriter was used in this transaction.





On August
22, 2008, the Company sold, in a private transaction, 174,000 shares of
unregistered, restricted common stock for cash proceeds of $55,000, which
approximated the fair value and closing quoted price of the Company's common
stock on the transaction date. These shares were sold pursuant to an exemption
from registration under Section 4(2) of the Securities Act of 1933, as amended,
and no underwriter was used in this transaction.




Note
I - Commitments





Leased office
space





The
Company operates from leased office facilities at 205 Worth Avenue, Suite 316
Palm Beach, FL 33480 under an operating lease.  The lease agreement
was originally expired to expire in July 2009 and has been subsequently amended
to a month-to-month basis.  The lease currently requires monthly
payments of approximately $1,000.  The Company is not responsible for
any additional charges for common area maintenance.





The
Company also reimburses two non-executive personnel for the use of their
personal home offices, which are not exclusive to the Company’s business, at
approximately $250 per month.  These agreements are on a
month-to-month basis.






12








Signet
International Holdings, Inc. and Subsidiary


(a
development stage enterprise)


Notes
to Consolidated Financial Statements - Continued


September
30, 2008 and 2007




Note
I - Commitments - Continued





Leased office space -
continued





For the
respective nine month periods ended September 30, 2008 and 2007, respectively,
the Company paid or accrued an aggregate of approximately $12,000 and $11,000
for rent under all of these agreements.





Triple Play Management
Agreement





On
October 23, 2003, Signet Entertainment Corporation, the wholly-owned subsidiary
of the Company, entered into a Management Agreement with Triple Play Media
Management (Triple Play) of Peoria, Arizona.  Triple Play is engaged
to be the management company to manage and operate any acquired Signet facility
in the TV and other Media operations market on a permanent basis for Signet for
a period often years (the initial period) with an automatic extension of an
additional ten years unless the dissenting party gives proper
notice.





Upon
Signet's successfully raising the necessary required funding through a secondary
offering, Signet will begin funding the working capital requirements of Triple
Play for a share of Triple Play's profit.  The working capital
commitment will be based on mutually agreed budgets and, at the present time,
the company has no requirements for these services.





Big Vision Management
Contract





On July
22, 2005, Signet Entertainment Corporation, the wholly-owned subsidiary of the
Company, entered into a Management Agreement with Big Vision Studios, a Nevada
Limited Liability Company (Big Vision) located in both Las Vegas, Nevada and
Burbank, California whereby Big Vision will be the exclusive supplier of High
Definition Equipment and Studio rental for Signet in future periods after the
completion of a successful secondary public offering of the Company’s securities
to provide sufficient operating capital for the establishment of the Company’s
network.  At the present time, the Company has no requirements for
these services.





Option
Agreement





On July
23, 2008, we executed an Option to Purchase Asset Agreement (Agreement) with
Access Media Group, Inc. (a Florida Corporation) dba AMG TV, headquartered in
Jensen Beach, FL, to acquire 100% of the assets, satellite delivery service
contracts, customer service agreements in the USA and the Caribbean, including
the business operations located in Pittsburgh and North New Jersey for an agreed
purchase price is $3 million, payable as set forth in the Agreement, and the
issuance of 100,000 shares of our restricted, unregistered common
stock.  The term of our option is one (1) year and expires on July 22,
2009.  As consideration for the Agreement, the Company issued 20,000
shares of restricted, unregistered common stock to Access Media Group,
Inc.





The
Company has 180 days to complete the acquisition after serving notice to AMG TV
that the Company intends to exercise the option and is actively pursuing capital
resources in order to exercise the option and integrate these operations
according to the Company’s Business Plan.







(Remainder
of this page left blank intentionally)








13







Part
I - Item 2





Management’s
Discussion and Analysis of Financial Condition and Results of
Operations





(1) Caution
Regarding Forward-Looking Information




Certain
statements contained in this quarterly filing, including, without limitation,
statements containing the words "believes", "anticipates", "expects" and words
of similar import, constitute forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of the Company, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements.





Such
factors include, among others, the following: international, national and local
general economic and market conditions: demographic changes; the ability of the
Company to sustain, manage or forecast its growth; the ability of the Company to
successfully make and integrate acquisitions; raw material costs and
availability; new product development and introduction; existing government
regulations and changes in, or the failure to comply with, government
regulations; adverse publicity; competition; the loss of significant customers
or suppliers; fluctuations and difficulty in forecasting operating results;
changes in business strategy or development plans;
business  disruptions; the ability to attract and retain qualified
personnel; the ability to protect technology; and other factors referenced in
this and previous filings.





Given
these uncertainties, readers of this Form 10-Q and investors are cautioned not
to place undue reliance on such forward-looking statements. The Company
disclaims any obligation to update any such factors or to publicly announce the
result of any revisions to any of the forward-looking statements contained
herein to reflect future events or developments.





(2) 
Results of Operations and Plan of Operation





Period ended September 30,
2008 and 2007





We had no
revenue for either of the respective nine or three months ended September 30,
2008 and 2007, respectively.





General
and administrative expenses for the nine months ended September 30, 2008 and
2007 were approximately $96,200 and $88,800, respectively.  These
costs relate principally to the maintenance of our corporate offices, continued
efforts towards the implementation of our business plan and our compliance with
our reporting requirements under the Securities Exchange Act of 1934, as
amended.





For the
nine months ended September 30, 2008 and 2007, we accrued compensation to our
chief executive officer, Ernie Letiziano of $52,500 for each respective nine
month period.  Effective January 1, 2007, we engaged the services of
and commenced the accrual of executive compensation of $17,500 per quarter to
Thomas Donaldson for his role in implementing the Company’s business plan for
future growth and/or acquisitions in the broadcast marketplace.





Our net
loss for the nine months ended September 30, 2008 and 2007, respectively, was
approximately $(240,000) and $(218,000).  Our earnings per share for
the respective nine and three month periods ended September 30, 2008 and 2007
were approximately $(0.05) and $(0.02) for 2008 and approximately $(0.05) and
$(0.02) for 2007, based on the respective weighted-average shares issued and
outstanding at the end of each quarter.





The
Company does not expect to generate any meaningful revenue or incur operating
expenses for purposes other than fulfilling the obligations of a reporting
company under The Securities Exchange Act of 1934 unless and until such time
that the Company’s operating subsidiary begins meaningful
operations.





At
September 30, 2008 and 2007, respectively, the Company had working capital of
approximately $(382,000) and $(130,000), exclusive of accrued officer
compensation.  Both Mr. Letiziano and our staff, including Mr.
Donaldson, have agreed to defer payment of their accrued compensation until such
time that we have adequate cash flows to service these obligations without undue
hardship to our operations and expansion plans.





It is the
intent of management and significant stockholders, if necessary,  to
provide sufficient working capital necessary to support and preserve the
integrity of the corporate entity.   However, there is no legal
obligation for either management or significant stockholders to provide
additional future funding.  Should this pledge fail to provide
financing, the Company has not identified any alternative
sources.  Consequently, there is substantial doubt about the Company's
ability to continue as a going concern.





The
Company's need for capital may change dramatically as a result of any business
acquisition or combination transaction.  There can be no assurance
that the Company will identify any such business, product, technology or company
suitable for acquisition in the future.  Further, there can be no
assurance that the Company would be successful in consummating any acquisition
on favorable terms or that it will be able to profitably manage the business,
product, technology or company it acquires.






14







Plan of
Business





During
the preceding periods, the Company has endeavored to secure funding to implement
our business plan relating to the acquisition of LPTV stations by initiating the
negotiation of Sale & Share Exchange Contracts with the owners of various
identified LPTV Stations.  In connection with the economic decline,
Signet has experienced an adversity of investors’ willingness to enter into debt
or equity financing.  It has been determined that to spend additional
time to pursue funding in the TV and Media industry other than the acquisition
of AMG TV, Signet will seek only those investors interested in funding the AMG
TV acquisition and operations. Based upon our review and understanding of the
marketplace today, we believe that we will not be able to take the appropriate
steps to effectuate the acquisition of LPTV station(s). However, our current
financial condition and the condition of the capital markets in today's
environment may not allow us to complete any acquisition in a timely manner
including the acquisition of AMG TV.





At the
present time, management has no commitments for raising additional operating
capital. Accordingly, our future cash requirements are anticipated to be met
through the sale of additional equity securities, short-term loans from
executive officers and/or the proceeds of additional equity offerings in
conjunction with the acquisition of AMG TV.  Although we have verbal
assurances from Mr. Letiziano that he will provide such interim working capital,
there is no legal obligation for either management or significant stockholders
to provide additional future funding. We may raise additional funds through
public offerings of equity, securities convertible into equity or debt, or
private offerings of securities.





On July
23, 2008, we executed an Option to Purchase Asset Agreement (Agreement) with
Access Media Group, Inc. (a Florida Corporation) dba AMG TV, headquartered in
Jensen Beach, FL, to acquire 100% of the assets, satellite delivery service
contracts, customer service agreements in the USA and the Caribbean, including
the business operations located in Pittsburgh and North New Jersey for an agreed
purchase price is $3 million, payable as set forth in the Agreement, and the
issuance of 100,000 shares of our restricted, unregistered common
stock.  The term of our option is one (1) year and expires on July 22,
2009.  As consideration for the Agreement, we issued 20,000 shares of
restricted, unregistered common stock to Access Media Group, Inc. and we have up
to 180 days to complete the acquisition after serving notice to AMG TV that we
intend to exercise the option.  Our management is actively pursuing
the necessary capital resources to exercise the option and integrate these
operations according to our Business Plan.





Our
management is actively pursuing the necessary capital resources to exercise the
option and integrate these operations according to our Business
Plan.





(3)
Capital Resources and Liquidity





As of
September 30, 2008, we had approximately $60,000 in cash.  Our monthly
cash requirements presently average  $10,500 per
month.  Given our current circumstances, we will have to obtain
additional sources of cash to preserve our plan of operation or terminate all
activities.





It is the
intent of management and significant stockholders, if necessary,  to
provide sufficient working capital necessary to support and preserve the
integrity of the corporate entity.   However, there is no legal
obligation for either management or significant stockholders to provide
additional future funding.  Should this pledge fail to provide
financing, the Company has not identified any alternative
sources.  Consequently, there is substantial doubt about the Company's
ability to continue as a going concern.





As
reflected in the accompanying financial statements, we are in the development
stage with no operations.  Our ability to continue as a going concern
is dependent on our ability to raise additional capital and implement our
business plan. The financial  statements do not include any
adjustments that might be necessary if we are unable to continue as a going
concern.  We have no plans to pay no salaries per month to our sole
officer and employee until we are properly funded. We intend to raise additional
capital to continue our operations although there is no assurance we will be
successful. Currently we have no material commitments to make capital
expenditures.





The
Company's need for capital may change dramatically as a result of any business
acquisition or combination transaction.  There can be no assurance
that the Company will identify any such business, product, technology or company
suitable for acquisition in the future.  Further, there can be no
assurance that the Company would be successful in consummating any acquisition
on favorable terms or that it will be able to profitably manage the business,
product, technology or company it acquires.





Management
believes that actions presently being taken to obtain additional funding and to
implement our strategic plans continue to provide the opportunity for us to
continue as a going concern.  Management continues to refine and
pursue the necessary capital resources for the development and implementation of
our business plan.  As such, the Company remains as a “development
stage company.”






15






(4) Critical
Accounting Policies





Our
financial statements and related public financial information are based on the
application of accounting principles generally accepted in the United States
(“GAAP”).  GAAP requires the use of estimates; assumptions, judgments
and subjective interpretations of accounting principles that have an impact on
the assets, liabilities, revenue and expense amounts reported.  These
estimates can also affect supplemental information contained in our external
disclosures including information regarding contingencies, risk and financial
condition.  We believe our use if estimates and underlying accounting
assumptions adhere to GAAP and are consistently and conservatively
applied.  We base our estimates on historical experience and on
various other assumptions that we believe to be reasonable under the
circumstances.  Actual results may differ materially from these
estimates under different assumptions or conditions. We continue to monitor
significant estimates made during the preparation of our financial
statements.




Our
significant accounting policies are summarized in Note D of our financial
statements.  While all these significant accounting policies impact
our financial condition and results of operations, we view certain of these
policies as critical. Policies determined to be critical are those policies that
have the most significant impact on our financial statements and require
management to use a greater degree of judgment and estimates.  Actual
results may differ from those estimates. Our management believes that given
current facts and circumstances, it is unlikely that applying any other
reasonable judgments or estimate methodologies would cause effect on our
consolidated results of operations, financial position or liquidity for the
periods presented in this report.




Item 3 - Quantitative and Qualitative Disclosures
About Market Risk







Item
4 - Controls and Procedures





(a)
            Evaluation
      of Disclosure Controls and
Procedures





The
Company maintains disclosure controls and procedures that are designed to ensure
that information required to be disclosed in its Exchange Act reports is
recorded, processed, summarized and reported within the time periods specified
in the U. S. Securities and Exchange Commission's rules and forms, and that such
information is accumulated and communicated to the Company's management,
including the Company's Chief Executive Officer and Chief Financial Officer, as
appropriate, to allow timely decisions regarding required disclosure. Management
necessarily applied its judgment in assessing the costs and benefits of such
controls and procedures, which, by their nature, can provide only reasonable
assurance regarding management's control objectives.





The
Company carried out an evaluation, under the supervision and with the
participation of its management, including its Chief Executive Officer and Chief
Financial Officer, on the effectiveness of the design and operation of its
disclosure controls and procedures pursuant to Exchange Act Rules 13a-15 and
15d-15 as of the end of the period covered by this report.  Based upon
that evaluation, the Company's Chief Executive Officer and Chief Financial
Officer concluded that the Company's disclosure controls and procedures are
effective in timely alerting them to information relating to the Company
required to be included in the Company's Exchange Act reports.





While the
Company believes that its existing disclosure controls and procedures have been
effective to accomplish their objectives, the Company intends to continue to
examine, refine and document its disclosure controls and procedures and to
monitor ongoing developments in this area.





(b)
            Changes
      in Internal Controls





During
the quarter ended September 30, 2008, there were no changes (including
corrective actions with regard to significant deficiencies or material
weaknesses) in the Company's internal control over financial reporting that have
materially affected, or are reasonably likely to materially affect, the
Company's internal control over financial reporting.




Part
II - Other Information





Item
1 - Legal Proceedings





From time
to time, as we acquire operating properties, we may become subject to various
legal proceedings that are incidental to the ordinary conduct of its
business.  Although, to date, there have been no such proceedings, we
do not anticipate that any future proceedings, either individually or in the
aggregate, will become material to our business or be likely to result in a
material adverse effect on our future operating results, financial condition, or
cash flows.






16







Item
2 - Recent Sales of Unregistered Securities and Use of Proceeds





On July
24, 2008 the Company issued 20,000 shares of unregistered, restricted common
stock as a deposit on and in consideration for a Purchase Option Agreement
executed on July 23, 2008 with a TV distribution and syndication
company.  The deposit/option fee will be deducted from the total
100,000 shares of unregistered, restricted common stock to be issued upon
closing of the transaction upon exercise of the option.   The
total shares issued and to be issued are part of the terms of the Purchase
Option Agreement that specifies a total purchase price of $3.0 million plus a
management contract to be in place shortly after closing.  Terms of
the management contract requires a payment of $20,000 per month to the present
manager/owner.  The term of Purchase Option Agreement is one year from
date of execution.





On August
19, 2008, the Company sold, in a private transaction, 5,000 shares of
unregistered, restricted common stock for cash proceeds of $3,000, which
approximated the fair value and closing quoted price of the Company's common
stock on the transaction date. These shares were sold pursuant to an exemption
from registration under Section 4(2) of the Securities Act of 1933, as amended,
and no underwriter was used in this transaction.





On August
22, 2008, the Company sold, in a private transaction, 174,000 shares of
unregistered, restricted common stock for cash proceeds of $55,000, which
approximated the fair value and closing quoted price of the Company's common
stock on the transaction date. These shares were sold pursuant to an exemption
from registration under Section 4(2) of the Securities Act of 1933, as amended,
and no underwriter was used in this transaction.





Item
3 - Defaults on Senior Securities





None





Item
4 - Submission of Matters to a Vote of Security Holders





The
Company has held no regularly scheduled, called or special meetings of
shareholders during the reporting period.





Item
5 - Other Information





None





Item
6 - Exhibits and Reports on Form 8-K





Exhibits


31.1
            Certification
      pursuant to Section 302 of Sarbanes-Oxley Act of
  2002


32.1
            Certification
      pursuant to Section 906 of Sarbanes-Oxley Act of
  2002.








SIGNATURES





In
accordance with the requirements of the Exchange Act, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.





Signet
International Holdings, Inc.




Dated: November 10,
      2008
            /s/
      Ernest W. LetizianoErnest W.
      LetizianoPresident and
      Director