Revolutionary Concepts Inc (fka REVO)

[SHEEPWOLF]

Revolutionary Concepts Announces Major Plans for Recapitalization to Raise $10 to $25 Million in Capital, Accelerate Growth and Increase Shareholder Value


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April 20, 2015 15:01 ET | Source: Revolutionary Concepts Inc
CHARLOTTE, N.C., April 20, 2015 (GLOBE NEWSWIRE) -- Revolutionary Concepts Inc., (OTCPINK: REVO), a publicly traded company that that owns patented mobile video technology and remote security communication systems, announced it is planning a new major strategy to recapitalize the company, strengthen its financial position and increase the value to its shareholders.

Some key highlights of the proposed plan include;

Raising $10 to $25 million in capital for its operating expenses and future growth and expansion
Reducing or eliminating all of its outstanding debt of $2.16 million
Payoff all of its outstanding Senior Secured Convertible Notes and related obligations
Improve the Company's Balance Sheet
Repurchase up to 140 million shares of its outstanding shares of common stock
REVO's Senior Vice President Solomon Ali states, "We are very excited about the recapitalization plan. It should allow the Company to raise capital for operating expenses, reduce our debt burden, improve our balance Sheet and strengthen our capital structure. With the successful completion of our recapitalization, this should put us in a position to focus on our long-term strategic plans to grow the Company. We also anticipate receiving funds from licensing fees and royalties from the licensing of our patents through our Licensee. It could also place REVO in a position to be acquired by another larger company in the industry that may have an interest in buying the Company. We believe our stock is undervalued and that this plan could bring great value to our shareholders. We will be providing more details on the plan in the near future."
http://www.globenewswire.com/news-release/2015/04/20/726188/10129740/en/Revolutionary-Concepts-Announces-Major-Plans-for-Recapitalization-to-Raise-10-to-25-Million-in-Capital-Accelerate-Growth-and-Increase-Shareholder-Value.html