Revolutionary Concepts Considers Major Stock Repurchase of 20% of Its Common Shares
February 06 2014 - 9:45AM
Marketwired
Revolutionary Concepts Considers Major Stock Repurchase of 20% of
Its Common Shares
CHARLOTTE, NC--(Marketwired - Feb 6, 2014) - Revolutionary
Concepts Inc., (OTCQB: REVO), a publicly traded company that
develops mobile video software and remote security communication
systems, announced today that it is considering purchasing up to
20% of the Company's outstanding shares of common stock. On January
21, 2014, REVO announced it is in advanced contract negotiations
with a technology company that plans to acquire an exclusive
license from REVO to commercialize its online patented wireless
mobile security alarm services system.
In view of this announcement, REVO is considering purchasing up
to 98.9 million shares or 20% of its 494,748,924 outstanding shares
of common stock.
REVO's Senior Vice President, Solomon Ali, states, "In view of
the advance contract negotiations to license our patented wireless
mobile alarm services system to another company, we believe
considering a stock repurchase right now, with the current stock
price in the market, provides us with an opportunity to invest in
our Company and increase shareholder value."
REVO may periodically consider stock repurchases as a capital
investment. REVO may buy shares on the open market or in privately
negotiated purchases. 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 However, no final decision has been made on a
buyback and the Company will continue to focus on completing the
licensing agreement of its patented online patented wireless mobile
security alarm services system.
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.
For inquiries contact: Media Relations: Solomon Ali
704-837-5705