Revolutionary Concepts Inc. Forecasts up to $30 Million in Annual Revenue
Mar 21, 2014 (ACCESSWIRE via COMTEX) -- Revolutionary Concepts Inc. (OTCQB: REVO), a security technology and monitoring company in the developmental stage, saw its volume soar Mar. 20, with 14,797,383 shares changing hands.
The spike in Revolutionary Concept's volume is being fueled in part by the company's update it released to its shareholders on Mar. 19.
Plans Major Initiatives
In the announcement, the Charlotte, N.C.-based company says it plans major new initiatives to significantly increase investor returns and improve shareholder value.
After REVO announced it signed a multi-year global licensing agreement with its Licensee to commercialize REVO's patented "EyeTalk Communicator System", REVO is forecasting $20 to $30 million in total estimated annual revenue from residual licensing fees and royalties.
Now REVO's board of directors is reviewing several major proposals that could increase the price of its stock and its market value. Some of the company's major strategic initiatives and proposals under consideration include,
1. Distribution of a common stock dividend to its shareholders on a 10 for 1 basis. Under this proposal, REVO's shareholders would be entitled to receive one share of common stock for every ten shares that they own, which could provide them with an immediate return on their investment. The required documentation would be filed with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA).
2. REVO would consider purchasing up to 20% of its outstanding shares of common stock as a capital investment. REVO is considering purchasing up to 98.9 million shares or 20% of its 494,748,924 outstanding shares of common stock. The timing and amounts of any repurchases are subject to changes in market conditions and other factors. Repurchases will be made in compliance with all SEC rules and other legal requirements.
3. Proposal to improve its financial performance and restructure its balance sheet to reduce its debt and total liabilities. REVO plans to take measures to significantly reduce its $3.48 million in total liabilities and $751,924 in in long-term liabilities. The company proposes to pay down or pay off some of its debt, improve its capital structure and modify its debt to equity ratio. REVO intends to negotiate with its creditors to pay down, payoff and retire a substantial portion of the debt instruments that it issued to its investors and creditors to fund the company's initial operations.
"We intend to create greater interest and "brand awareness" for REVO in the marketplace, improve our stock price, and building strong fundamentals for the company," REVO's Senior Vice President Solomon Ali says,
On Mar. 20, REVO's share price closed at 0.0089 cents, down 0.0014 cents from its closing price of 1 cent the previous day.
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