SOURCE: Revolutionary Concepts, Inc.
CHARLOTTE, NC--(Marketwired - Mar 19, 2014) - Revolutionary Concepts Inc., (OTCQB: REVO), a publicly traded company that develops mobile video software and remote security communication systems, plans major new initiatives to significantly increase investor returns and improve shareholder value. After REVO announced it signed a multi-year global licensing agreement with its Licensee to commercialize REVO's patented "EyeTalk Communicator System", REVO is forecasting $20 to $30 million in total estimated annual revenues from residual licensing fees and royalties.
Now REVO's Board of Directors is reviewing several major proposals that could increase the price of its stock and its market value. Some of the Company's major strategic initiatives and proposals under consideration include,
1. Distribution of a common stock dividend to its shareholders on a 10 for 1 basis. Under this proposal, REVO's shareholders would be entitled to receive one share of common stock for every ten shares that they own, which could provide them with an immediate return on their investment. The required documentation would be filed with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA).
2. REVO would consider purchasing up to 20% of its outstanding shares of common stock as a capital investment. REVO is considering purchasing up to 98.9 million shares or 20% of its 494,748,924 outstanding shares of common stock. The timing and amounts of any repurchases are subject to changes in market conditions and other factors. Repurchases will be made in compliance with all SEC rules and other legal requirements.
3. Proposal to improve its financial performance and restructure its Balance Sheet to reduce its debt and total liabilities. REVO plans to take measures to significantly reduce its $3.48 million in total liabilities and $751,924 in in long-term liabilities. The Company proposes to pay down or pay off some of its debt, improve its capital structure and modify its debt to equity ratio. REVO intends to negotiate with its creditors to pay down, payoff and retire a substantial portion of the debt instruments that it issued to its investors and creditors to fund the Company's initial operations.
REVO's Senior Vice President Solomon Ali says, "We intend to create greater interest and "brand awareness" for REVO in the marketplace, improve our stock price, and building strong fundamentals for the Company. Implementing these initiatives should reduce our debt, lower interest expenses and strengthen the Company's Balance Sheet. We believe these proposals could improve our financial performance and bring even greater long-term value to our shareholders."
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.