SOURCE: Revolutionary Concepts, Inc.
CHARLOTTE, NC--(Marketwired - Feb 18, 2014) - Revolutionary Concepts Inc. (OTCQB: REVO), a publicly traded company that develops online mobile video software and remote security communication systems, announced it is working in conjunction with the Licensee that it signed a global multi-year licensing agreement to aggressively commercialize REVO's patented "EyeTalk Communicator System." Both companies are reviewing various options and alternatives to fully exploit and maximize the potential financial revenues and profits that could be obtained from the patents and license agreement.
The companies are jointly developing strategies to fully exploit the commercial potential of the patented system in as many different markets and related industries as possible. The Company intends to capitalize on the domestic and the foreign markets. This would allow the Company a greater measure and degree of success to profit from its patented intellectual property on an international scale.
EyeTalk® is a disruptive technology that may create a shift away from current systems in the market place that are responsive and reactive, and is designed to be preemptive, preventative and protective. The EyeTalk® systems are designed to be triggered and activated by an array of inputs such as motion, biometric sensors, metal detection, fiber optic sensors, etc., with real time monitoring.
REVO is forecasting $20 to $30 million in total estimated annual revenues from the residual and ongoing licensing fees and royalties that are projected to be generated from its new global license agreement from the marketing and exploitation of the patents. REVO could receive an estimated 40% of the total, or $8 to $12 million annually.
Solomon Ali, REVO's Senior Vice President, says, "We're taking strategic steps to maximize the full potential of our new global license agreement. The foundation cornerstone has been laid for a new era in our Company's history. As we explore the global market for our technologies, we believe some of the companies that could potentially benefit from the applications of a sublicense of our technology systems are companies such as Apple, AT&T, Samsung, Time Warner, Siemens, Google, CPI Security, GE, Microsoft, and others. Some large energy companies and electric power plants that recently reported security issues could also benefit from our systems to provide greater security for their facilities. We also feel our stock is presently undervalued, and as we obtain sublicenses and strategic alliances with other companies for our patented technologies, this could have a very positive impact on our stock price and benefit our shareholders."
About Revolutionary Concepts Inc.
REVO is primary business is the design and development of the "EyeTalk" Communicator technology, a mobile video, remote smart camera security technology. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiple threats including robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology. REVO holds patented and patent pending applications that utilize the technology in medical/healthcare, sporting events, child monitoring and several other key areas. For more information visit www.revolutionaryconceptsinc.com.
Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Revolutionary Concepts Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.