CHARLOTTE, NC--(Marketwired - Feb 12, 2014) - Revolutionary Concepts Inc., (OTCQB: REVO), a publicly traded company that develops mobile video software and remote security communication systems, is forecasting $20 million 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. REVO has filed formal notification of the transaction on Form 8-K with the SEC.
REVO announced today that it signed a multi-year definitive worldwide licensing agreement with a company for them to commercialize REVO's patented "EyeTalk Communicator System". The Licensee will pay REVO an up-front or pre-commercialization fee of $900,000 in consideration, and the Licensee has plans to commercialize and exploit the patents in the marketplace for the maximum financial benefit for both companies.
Of the $20 to $30 million in total estimated annual revenues projected to be generated from the marketing and exploitation of the patents, the Licensee would receive 60% and REVO would receive an estimated 40% of the total, or $8 to $12 million annually.
