CHARLOTTE, NC September 18, 2013 -- Revolutionary Concepts, Inc., a company focused on the design and development of intellectual property (IP) rights, and trade names such as Eye Talk Communicator (OTCQB: REVO) (http://www.revolutionaryconceptsinc.com/) could receive an immediate benefit of several hundred thousand dollars from the sale and/or license of patents, discussed in our previous press release.
"As part of the proposed agreement under which the sale would take place, the Company would increase shareholder's equity in excess of $500,000, upon signing," states Ron Carter, CEO. He goes on to say, "The exact terms of the agreement have not been finalized, but management believes that the strategy being discussed is in the best interest of all shareholders and brings the greatest opportunity for immediate and long term results from this portion of our patent portfolio. It is important to remember that this is only one portion of several assets that the company owns. The proposed sale does not affect several other patents pending, our joint venture with IQMagine, LLC, nor our ownership of Greenwood Finance Group, LLC."
Senior Vice President Solomon RC Ali states, "We are constantly working to ensure the greatest return for our shareholders. We view this potential agreement as a major step forward in monetizing this portion of our patent portfolio. Under the terms being proposed, from this nonrefundable deposit, we would have an immediate positive impact on shareholder's equity that could be in excess of $500,000, while maintaining a significant portion of the long-term gains expected from the sale and/or licensing in the future."
About Revolutionary Concepts,Inc.
Revolutionary Concepts, Inc. is a development stage company focused on the design and development of intellectual property (IP) rights, and trade names such as Eye Talk Communicator. We currently have 7 patents registered with the USPTO, with others pending. Our first 7 patents that have been awarded are related to an entry management system and gives users the ability to remotely and interactively monitor via two-way communication and control an IP camera while using a personal communication device. Additional uses our IP include medical applications, and infant care technology. Revolutionary Concepts Inc. is headquartered in Charlotte, NC with consultants located throughout the United Sates. http://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.
Phone: (704)837.5705 Solomon Ali
SOURCE: Revolutionary Concepts, Inc.