Revolutionary Concepts, Inc. Seeks Board Approval to Close Sale of Multi-Million Dollar Patent Portfolio
(firmenpresse) - CHARLOTTE, NC -- (Marketwired) -- 09/12/13 -- Revolutionary Concepts, Inc., a company focused on the design and development of intellectual property (IP) rights, and trade names such as Eye Talk Communicator (OTCQB: REVO) () seeks Director approval for shareholder vote to finalize the sale and/or license of patents.
Management has submitted to the Board of Directors a request for authority to complete the necessary documentation and filings pertaining to agreements involving the sale of patents as discussed in recent releases. Upon Board of Director, regulatory and, shareholder approval, Management will be positioned to move swiftly to definitive agreements and close open transactions.
For consideration after the sale of the patents, the Board of Directors is also reviewing management requests for resolutions addressing a dividend payable to shareholders as well as an increase in authorized shares to facilitate future acquisitions and roll ups. Both discussions are pending and subject to further due diligence. Following Board directives and regulatory notifications, each of these measures, if and when finalized, would be presented for a majority shareholder vote.
Senior Vice President Solomon RC Ali states, "It seems we now have momentum and are simultaneously working with our Board and patent representatives to facilitate a transaction that is sure to be a huge win for our shareholders. Current feedback from industry reps indicates the value received may be much higher that previously projected numbers. If approved, the dividend will be an additional benefit to the increased gains shareholders will receive from actions involving the patents."
Revolutionary Concepts, Inc. is a development stage company focused on the design and development of intellectual property (IP) rights, and trade names such as Eye Talk Communicator. We currently have 7 patents registered with the USPTO, with others pending. Our first 7 patents that have been awarded are related to an entry management system and gives users the ability to remotely and interactively monitor via two-way communication and control an IP camera while using a personal communication device. Additional uses our IP include medical applications, and infant care technology. Revolutionary Concepts Inc. is headquartered in Charlotte, NC with consultants located throughout the United Sates.
- 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.
Phone: (980)225.5376
Phone: (704)837.5705
Solomon Ali
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Datum: 12.09.2013 - 18:12 Uhr
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News-ID 296205
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