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'Honest' Ron doesn't need REVO. He has Eyetalk365.
Honest Ron left REVO to avoid SEC scrutiny, as he operates through Eyetalk365.
He no longer needs REVO to raise money. So why stick around?
He has no intention of repaying those investors who trusted him. So, again, why stick around?
Simple.
Filing accounts would lift the fog of suspicion.
It's all turned out pretty much as predicted.
'Honest' Ron arranged a sale of the patents to Eyetalk365, at an undervalue. To remove all assets from REVO shareholders, and put them into a company not subject to SEC scrutiny
'Honest' Ron has left REVO to remove himself from SEC scrutiny.
The result is that REVO shareholders are left with nothing of value, while 'Honest' Ron runs all patent royalties through Eyetalk365.
Solomon Ali, meanwhile, now has a shell company which he can try to revive and use as the vehicle for another scam.
Simple.
Eyetalk365 has never won a patent infringement case.
All cases brought by Eyetalk365 have been settled out of court, or abandoned.
REVO directors have never reported income from settled cases.
REVO shareholders have no realistic prospect of receiving dividends from settled cases.
REVO directors have taken any money received from out of court settlements, and have no intention of paying dividends to other shareholders.
Simple.
Why not re-invest your REVO trading profits, skeet?
Your unrealized losses exceed your unrealized gains, skeet.
You seem to treat profits and losses differently. Here's what you say on losses:
13 years with no return on investment, Skeet?
I said that you would not recover the money you sunk into REVO.
And that the facts would prove me right.
And now you admit it
Shareholders will see no money from REVO, skeet.
Eyetalk365 probably received some cash for settling the patent infringement cases.
REVO directors will use that money to pay themselves, their cronies and their lawyers.
It makes no difference if the patents generate royalties of $10 or $10m, the directors will take the money, and shareholders will see none of it.
Simple.
REVO no longer bothers with SEC filings.
Contrary to your hope:
Shareholders cannot force REVO directors to talk, endlich
You cannot force them to tell the truth, and you cannot force them to produce accounts.
REVO directors took the money and ran, spyder.
It's no coincidence that REVO directors lost their auditor, and stopped updating shareholders, immediately after settling infringement cases (and, probably, receiving some cash).
At the same time they admitted that their past SEC filings, press releases, and assurances to shareholders were "unreliable".
In these circumstances it is, virtually, impossible for REVO shares to increase in value.
And it is impossible for REVO to break it's 13 month silence by declaring dividends for shareholders.
Shareholders are left with nothing to look forward to.
The REVO scam has been predictable, skeet.
I identified the basic scam, 10 years ago, in one of my earliest posts:
Don't expect any more REVO 8-K filings, spyder.
The game's over as far as REVO is concerned.
The directors have abandoned REVO, and jumped aboard Eyetalk365.
The days of directors pumping the share price are long gone.
The REVO directors have left the table, spyder. They'll be dealing no more hands.
What you're holding now is your last hand.
The game has been transferred to Eyetalk365, and you cannot join it. You have no chips, no cards and no invitation to enter the new game.
Face it: the dealer left the table when the SEC took a seat.
You, and other REVO players, have sat at the table for a year, waiting for the dealer to return. But the dealer has no intention of returning.
The House closed the table, and moved on.
Those waiting to receive another hand are waiting in vain.
What you're holding now is your last hand.
The House closed the REVO table. They have moved, and to play the Eyetalk365 table, and left REVO players high and dry.
One practical question: How will shareholders get any money from REVO if the directors don't report income, totally ignore shareholders, and leave REVO to be closed down?
Please answer that.
You can't play if you've got no pot.
Without 'Honest' Ron's pump and dump side action your pot is not going to get refilled.
You're at the table with a busted flush and nothing to bid with, because the House took your money, and ran off with it.
You've been left holding a busted flush, spyder.
No need to keep that close to your chest.
Why wait, then?
Statements of 'Honest' Ron Carter are, predictably, unreliable.
The record shows that 'Honest' Ron misled his initial shareholders when he said REVO would manufacture a product, and generate income in the millions of dollars.
The record shows he misled investors with stories of big investments in REVO by a substantial licensee.
Patent Office records show that 'Honest' Ron did a deal, with his cronies in Eyetalk365, to strip patent assets from the company.
When the SEC identified many misleading statements by REVO directors 'Honest' Ron told shareholders that issues would be resolved 'soon'.
A year later nothing has been resolved, no income has been declared, and shareholders are left with shares that are pretty much worthless.
All as predicted.
Skeet, you've had nothing from royalties...
... And, for the record, you've never met me.
Shareholders haven't received one cent from REVO patents.
Any royalties received from REVO patents have been banked by REVO directors and their associates. Shareholders have received not one cent.
No income from patents in 13 years. Pathetic.
In 13 years REVO has reported no income from their issued patents, and shareholders have seen no income from investing in them.
Either the patents aren't valuable...or unreported income is being stolen.
Simple.
No-one made money investing in the REVO business,Skeet.
As I said in an earlier post:
You must have traded on pumps-and-dumps, Skeet.
You made money on this stock by trading on the cyclical pumps and dumps REVO created by issuing lies.
13 years without returns on investment, Skeet? Pathetic.
I said that you would not recover the money you sunk into REVO.
And the facts prove that I was correct.
You have made a 13 year investment, with 'Honest' Ron Carter, and made no return on it.
Sounds like an 'honest' scam to me.
Simple.
Some cannot separate lies, or sarcasm, from truth.
Those are the ones that have lost their money.
They believed the lies told by 'honest' Ron, and are holding tight to their losses.
They missed your sarcasm, because they are desperate to believe anything that appears positive about REVO, and still don't understand they've been scammed.
Shame.
Where's the money REVO received from Eyetalk365, weasel?
If REVO has received 40% of what Eyetalk365 gets how much has REVO received, and where is it?
REVO shareholders have received nothing from Eyetalk365, Skeet
Infringement cases have been settled, and Eyetalk365 has got the money from those settlements.
You're correct Skeet. Eyetalk365 doesn't benefit REVO shareholders.
Any income generated by the REVO patents has been received by Eyetalk365, but Eyetalk365 has no reporting obligations to REVO shareholders. And REVO directors have refused to meet their reporting obligations.
As a result REVO shareholders know absolutely nothing about income received by, or from, Eyetalk365.
As you correctly point out:
Preferred shareholders are preferred over ordinary shareholders. Fact.
'Honest' Ron will enrich himself, pay interest to holders of preferred loan notes and dividends to preferred shareholders, before ordinary shareholders will see any dividend.
Holding worthless shares is the reward for being a long loyal friend.
Simple.
There'll be no dividends for REVO ordinary shareholders.
Preference shares aren't for fighting imaginary 'hostile takeovers'
REVO directors use preference shares to remove money and assets from the holders of ordinary shares.
Preference shareholders are entitled to receive their investment returns before ordinary shareholders. That's the nature of preference shares.
Any cash received from Eyetalk365 will be used to pay REVO directors, and/or their associates holding preference shares.
After the directors and preferred shareholders are paid there will be nothing left for ordinary shareholders.
Simple.
A REVO extension patent was issued to Eyetalk365.
Ron Carter is shown as the inventor of the improvements, but the patent has been issued to Eyetalk365.
This means that Ron Carter now works for Eyetalk, and not REVO.
Which means that REVO shareholders will see as much from this patent as they have seen from the others.
The grand total of royalties REVO has received from Eyetalk365 is $nil. $nothing. $nichts....
...As Eyetalk is, presumably, receiving money from royalties.
That doesn't sound like a 60:40 split.
Something smell fishy to you?
That's not land in sight...it's an iceberg!
The sinking of SS REVO by the SEC bears similarities to the sinking of the Titanic by an iceberg.
In both cases the captain saw the trouble coming, but didn't realise the danger, until holed below the waterline.
More preferred stock to further dilute Ordinary shareholders.
The REVO directors have taken steps to issue preferred stock and further dilute their loyal shareholders.
On June 2nd those directors created Series A, A1, A2, and B Preferred and Convertible stock.
This was quickly followed by The creation/issue of
10.5% Series A-1 Convertible Preferred Stock on June 9;
10.5% Series B Convertible Preferred Stock on June 24; and
10.5% Series A-2 Convertible Preferred Stock on June 24
Source: Company filings made with the Nevada Secretary of State http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=Mj4ELwvfl9jyn4S4F1UPZw%253d%253d&CorpName=REVOLUTIONARY+CONCEPTS%2c+INC.The details have been filed with the Nevada Secretary of State:
Nothing filed with the SEC, or REVO shareholders, of course.
Those are the facts. Draw your own conclusions. And feel free to inform the SEC.
Legal action by shareholders is unlikely, Samurai.
Legal action takes too long, costs too much, and, ultimately, brings little benefit to shareholders.
The 'deal' with Eyetalk365 is a clear case of self-dealing by the REVO directors, in breach of their fiduciary duty to the company.
The question is whether it is worth the time, effort and expense for shareholders to take this to court?
Here's an extract from a useful article:
Don't hold your breath waiting for REVO accounts.
It's all about underlying patents...
Where's the money due to loyal REVO shareholders?
The directors have received money from the patent infringement settlements but loyal shareholders, who still believe in 'Honest' Ron, have seen nothing from those settlements.
Where's the money gone, Ron?
The Eyetalk 'license' stripped REVO of assets.
The exclusive license agreement makes it clear that 'Honest' Ron Carter formed Eyetalk to place REVO patents outside the reach of REVO shareholders.
The fact that 'Honest' Ron now files patents on behalf of Eyetalk, instead of REVO, confirms that REVO has been left to rot, and will soon cease to exist.
It's just a matter of time.