Revolutionary Concepts Announces Major Proposal for Cash or 10% Stock Dividend to Reward Shareholders
February 10 2014 - 12:43PM
Marketwired
Revolutionary Concepts Announces Major Proposal for Cash or 10%
Stock Dividend to Reward Shareholders
CHARLOTTE, NC--(Marketwired - Feb 10, 2014) - Revolutionary
Concepts Inc. (OTCQB: REVO), a publicly traded company that
develops online mobile video software and remote security
communication systems, announced that its Management has presented
a proposal to the Board of Directors to distribute a cash dividend
or a common stock dividend to its shareholders on a 10 for 1
basis.
The plan would pay either a cash dividend, or issue one share of
common stock for every ten shares of common stock held by the
shareholders. In the event a stock dividend is issued, the
shareholders would be entitled to receive one share of common stock
for every ten shares that they own. Subject to final approval from
its Board of Directors, the required documentation will be filed
with the U.S. Securities and Exchange Commission and the Financial
Industry Regulatory Authority (FINRA), the largest independent
regulator for all securities firms doing business in the United
States.
REVO is in final contract negotiations with a company for it to
obtain a worldwide licensing agreement for REVO's patented "EyeTalk
Communicator System." REVO is considering several proposals to
bring more value to its shareholders, including plans to
significantly reduce its $3.48 million in total liabilities,
improving its balance sheet and special dividends in cash or stock,
subject to SEC guidelines.
REVO's Senior Vice president Solomon Ali states, "Our Management
believes that it's time to reward our loyal shareholders for their
continued support and to provide them with a much larger equity
stake in our Company. We feel a dividend sends a strong signal
about the future growth and outlook of our Company. In the coming
weeks, we will provide our shareholders with more strategic
information that may bring greater value to them and the investment
community."
REVO developed the "EyeTalk Communicator," a wireless online
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.
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