Revolutionary Concepts Inc. Subsidiary Greenwood Finance Group LLC Signs Ten Million Dollar Letter of Intent
June 24 2014 - 2:00PM
Marketwired
Revolutionary Concepts Inc. Subsidiary Greenwood Finance Group LLC
Signs Ten Million Dollar Letter of Intent
Funding to Facilitate Future Investment Opportunities With Small
Cap and Micro Cap Companies
CHARLOTTE, NC--(Marketwired - Jun 24, 2014) -
Revolutionary Concepts Inc. (OTC Pink: REVO) (PINKSHEETS:
REVO), a publicly traded company that develops mobile video
software and remote security communication systems, announces that
its subsidiary, Greenwood Finance Group, LLC, has signed a Letter
of Intent and is working on a Definitive Agreement that would
provide a Ten Million dollar line of credit to fund its revitalized
investment operations.
Greenwood Finance Group has spent the last year evaluating the
changes in the current OTC market place and developing a marketing
strategy that identifies and evaluates companies in need of
assistance in growing their operations and remaining current with
all listing requirements.
Solomon Ali, Sr. Vice President, states, "Greenwood's new
funding agreement not only provides an opportunity for Greenwood to
offer positive investment options with its clients, it also
positions Greenwood for a joint venture opportunity with a firm
seeking a private equity partnership with a strong data base. This
news comes on top of recent meetings held between Greenwood and its
original investors who owe the company seven million dollars in
receivables. During those meetings, officers of Greenwood expressed
the urgency of each of the investors to begin making interest
payments on its obligations to the company. Discussion also
involved the consideration of an effort to use interest payments to
purchase shares of the parent company from the open market."
He goes on to state, "Revolutionary Concepts has patiently
observed the changes within our subsidiary and are very excited
about current events. We believe all of the major issues with
Greenwood's position in the market place have been addressed and
this new line of credit brings Greenwood the opportunity to
participate in much larger investments with companies with seasoned
operations. We look forward to hearing more from Greenwood in the
coming months."
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.
About Greenwood Finance Group, LLC. Greenwood Finance Group is a
private equity firm consisting of a team of individuals who
understand the work that goes into developing businesses in their
beginning stages. Greenwood Finance Group provides broad-spectrum
investment and capital services to small-cap and micro-cap
companies; strategically positioning them for long-term growth and
profitability. Greenwood delivers, through our global network of
investment partners and private equity groups, the capabilities to
quickly tailor funding solutions that meet the unique needs of each
client which can be tailored to a client's capital funding needs so
it can focus on growing the company.
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