SOURCE: Revolutionary Concepts, Inc.
CHARLOTTE, NC--(Marketwired - Feb 13, 2014) - Revolutionary Concepts Inc., (OTCQB: REVO), a publicly traded company that develops online mobile video software and remote security communication systems, announced that shares of its common stock broke all previous trading records and soared more than 182%. A record 120,588,619 shares of its stock traded on Wednesday, February 12, 2014, after REVO reported that it signed a multi-year global licensing agreement with a company for them to commercialize REVO's patented "EyeTalk Communicator System."
The Company forecasts $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. Of the $20 to $30 million in estimated annual revenues projected to be generated from the marketing and exploitation of the patents, REVO could receive an estimated 40% of the total, or $8 to $12 million annually.
Investors quickly snapped up the stock at an average rate of over 18.55 million shares per hour during the trading day and rapidly bid up REVO's shares to $0.0141 at the close of the trading day for a gain of 182.00% over Tuesday's closing price of $0.005. A total of 120,588,619 shares were traded on Wednesday, which was 7.85 times the average daily trading volume of 15,367,195 of REVO's shares. The 120,588,619 shares traded broke all previous trading barriers and set a new record high in trading volume for a single day in REVO's history.
Solomon Ali, REVO's Senior Vice President, says, "This was truly a monumental day for our Company and especially for our loyal shareholders. That was the largest trading day ever for our Company in terms of price gain, volume and liquidity. With the announcement of the global license agreement, projected sales and earnings, the market responded very favorably to investing in the future of REVO. We are very encouraged by this and the positive impacts and the increased value this should bring 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.