Revolutionary Concepts Stock Jumps 24.24% on Plans to Increase Shareholder Value -- 59 Million Shares Sold
February 11 2014 - 1:00PM
Marketwired
Revolutionary Concepts Stock Jumps 24.24% on Plans to Increase
Shareholder Value -- 59 Million Shares Sold
Stock Up 215.79% on High Volume in Last Seven Days
CHARLOTTE, NC--(Marketwired - Feb 11, 2014) - Revolutionary
Concepts Inc., (OTCQB: REVO), a publicly traded company that
develops online mobile video software and remote security
communication systems, announced today that shares of its common
stock jumped 24.24%, and its stock traded over 59.52 million shares
after it released news about its comprehensive plans to increase
shareholder value.
The Company's Management has presented a proposal to the Board
of Directors to distribute a dividend to its shareholders. The plan
would pay either a cash dividend, or issue common stock on a 10 for
1 basis, which would essentially distribute one share of common
stock for every ten shares of common stock held by the
shareholders.
REVO also intends to restructure its financials 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 in an effort to improve its
balance sheet. The Company plans to pay down or pay off some of its
debt, improve its capital structure, modify its debt to equity
ratio and to bolster its overall financial performance.
The Company also announced that it was considering purchasing up
to 98.9 million shares or 20% of its 494,748,924 outstanding shares
of common stock.
Encouraged by the positive news, investors quickly bid up REVO's
shares to $0.0041 at the close of the trading day for a gain of
24.24% over Friday's closing price of $0.0033. A total of
59,529,972 shares were traded yesterday, which was about 4.22 times
the average daily trading volume of 14,121,524 shares. Over 162
million shares of the Company's stock were traded from Monday,
February 3, 2014 through the end of the trading day Monday,
February 10, 2014, for a gain of price gain of 215.79%.
REVO's Senior Vice president Solomon Ali states, "We are very
encouraged about the increased interest in our Company and demand
for our stock. This was truly a tremendous day for us in terms of
the trading volume of our stock. We are still in final contract
negotiations with a company that plans to obtain a worldwide
licensing agreement for REVO's patented 'EyeTalk' Communicator
System. We feel this demonstrates the growing confidence in our
Company by our shareholders and the investment community."
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