Revolutionary Concepts Announces Its Global Licensee Partner Hires Top Law Firm to Negotiate Sublicensing Deals to Other Comp...
June 04 2014 - 1:53PM
Marketwired
Revolutionary Concepts Announces Its Global Licensee Partner Hires
Top Law Firm to Negotiate Sublicensing Deals to Other Companies to
Generate Royalties
CHARLOTTE, NC--(Marketwired - Jun 4, 2014) - Revolutionary
Concepts Inc., (OTC Pink: REVO) (PINKSHEETS: REVO), a publicly
traded company that develops online mobile video software and
remote security communication systems, announced that its global
Licensee partner has engaged one of the top law firms in the
country to assist in the negotiations to sublicense REVO's
patented EyeTalk Communicator System to other companies. The
law firm is one of the largest in the country that specializes in
negotiating patent agreements, collaboration deals and intellectual
property to sublicense to other companies.
On February 14, 2014, REVO announced that it signed an agreement
with a company that acquired an exclusive global license from REVO
to commercialize REVO's online patented wireless mobile security
alarm services system. REVO is forecasting $20 million to $30
million in total estimated annual revenues from residual and
ongoing licensing fees and royalties that could be generated from
its global license agreement. REVO could receive an estimated 40%
of the total, or $8 to $12 million annually.
The Licensee is working aggressively to commercialize and
sublicense REVO's patented "EyeTalk Communicator System" to other
companies to generate licensing fees and royalties. This would give
the sublicensees the right to exploit, produce and incorporate the
technology into their products and market them to their
customers. This would allow REVO and its primary Licensee the
ability to fully exploit and maximize the potential financial
revenues and profits that could be obtained from the patents and
licensing agreement.
REVO's "EyeTalk Communicator" system is a revolutionary wireless
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. The EyeTalk system will also interface with
smart devices such as IPhone, IPad, Blackberry and Andriod.
Solomon Ali, REVO's Senior Vice President says, "We're very
excited about engaging one of the top law firms to assist us in
negotiating the sublicensing agreements. Using a firm with their
caliber and years of experience will help us move forward
rapidly in maximizing the full value and potential of our
global license agreement. Some of the companies we feel that could
potentially use our technology in their communication technologies
are, Amazon, Apple, AT&T, Time Warner, Google, CPI Security, GE
and others. We will provide more information on the progress we're
making to the public as we move forward to fully exploit our
patented technology."
About Revolutionary Concepts Inc. REVO is 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