SOURCE: Revolutionary Concepts, Inc.
CHARLOTTE, NC--(Marketwired - Feb 12, 2014) - Revolutionary Concepts Inc., (OTCQB: REVO), a publicly traded company that develops mobile video software and remote security communication systems, is forecasting $20 million 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. REVO has filed formal notification of the transaction on Form 8-K with the SEC.
REVO announced today that it signed a multi-year definitive worldwide licensing agreement with a company for them to commercialize REVO's patented "EyeTalk Communicator System". The Licensee will pay REVO an up-front or pre-commercialization fee of $900,000 in consideration, and the Licensee has plans to commercialize and exploit the patents in the marketplace for the maximum financial benefit for both companies.
Of the $20 to $30 million in total estimated annual revenues projected to be generated from the marketing and exploitation of the patents, the Licensee would receive 60% and REVO would receive an estimated 40% of the total, or $8 to $12 million annually.
REVO's Senior Vice President Solomon Ali says, "We feel very positive about the new partnership with our Licensee and the potential revenues. The total forecasted annual revenues to be generated is in the $20 to $30 million range. The potential earnings for REVO is estimated at $8 to $12 million annually. Although we cannot guarantee an actual valuation, according to industry valuation standards using average P/E ratios from Standard & Poor's, at a multiple of 15 times earnings, a valuation of $120 to $180 million dollars is an estimate of the potential additional market value of the earnings to REVO."
About Revolutionary Concepts Inc.
REVO's 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.