Signature Eyewear has sold 300,000 shares of common stock to Ashford Capital, along with warrants to purchase up to 300,000 shares of stock for an aggregate purchase price of $206,250 plus a $125,000 note due on May 15, 2010. In line with the agreement, Ashford has vowed not to buy additional shares on the open market to give it ownership of more than 14.99 percent of Signature's outstanding common stock.