Revolutionary Concepts Inc (fka REVO)

[Krysti]

REVO accounting for the Eyetalk365 'deal' is problematic.

The licensing deal between REVO and Eyetalk365 provides for the Licensor (REVO) to receive a 40% equity interest in the licensee (Eyetalk365).

That 40% equity interest means that REVO and Eyetalk365 are associated companies.

If Eyetalk365 is under the effective control of REVO (which it is) then it is a subsidiary of REVO, and it's accounts should be consolidated with those of REVO.

The last thing Carter and Ali want to do is file consolidated accounts for REVO and Eyetalk365, because that really would give the game away.