Revolutionary Concepts Stock Soars 182%, on News of Global License Deal, Forecasts $30 Million in Sales, & Sets New Trading R...
February 13 2014 - 10:55AM
Marketwired
Revolutionary Concepts Stock Soars 182%, on News of Global License
Deal, Forecasts $30 Million in Sales, and Sets New Trading Record
of 120 Million Shares Sold
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.
For inquiries contact: Media Relations: Solomon Ali
704-837-5705