Revolutionary Concepts Inc (fka REVO)

[Krysti]

Eyetalk was used to 'pump-and-dump' REVO shares.

EyeTalk365 is simply the enforcement arm of RCI... not intended to defraud shareholders or to be owned exclusively by anyone.

Source: Regretfulone

The SEC sees things very differently. It sees Eyetalk as a company owned by a small group of people (including Ron Carter) which was used to pump the REVO share price, and create a market for dumping REVO shares.

Here's their evidence:

60. On January 6, 2014, REVO stated in a press release that its “discussions and negotiations have reach[ed] an advanced stage whereby the Company believes it will be entering into a licensing agreement for one or more of its patents, and will close the transaction very soon.” REVO further stated: “After extensive discussions and negotiations, REVO decided it was in its best interests to license its technologies now, to generate long-term revenues for the Company through residual and ongoing licensing fees and royalties.”

61. REVO’s January 6, 2014 press release did not disclose that...Eyetalk was affiliated with REVO, such that the contemplated agreement was not an arm’s length transaction; REVO was going to have a 40% ownership interest in Eyetalk; an Ali Trust was going to have a 19% ownership interest in the company; and other entities with close relationships to Ali and Singletary would also have ownership interests in the company.

62. The daily trading volume for REVO’s stock increased over the next day from 3 million shares to 37 million shares.

Source: SEC

The SEC shows that Eyetalk was owned by Ali, Carter and their associates. And it was used to defraud investors, in a pump-and-dump operation.