Replies to post #59355 on Revolutionary Concepts Inc (fka REVO)

[tdbowieknife]

Looks like SEC action was long over due...

Thanks.

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Grey Market


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[Notimpressed]

REVO misrepresentations have generated many red flags,(PERSONAL OPINION NOT FACT)

There is a long list of 'news' PR announcements on the REVO website. http://www.revolutionaryconceptsinc.com/news.html >>RED FLAG REBUTLES IN RED

Some of these 'forward looking statements' never came to pass, and all were misrepresentations to investors. (acknowledged as FORWARD LOOKING STATEMENTS)

The SEC will have had no problem in showing that there is no realistic basis on which any reasonably competent director could genuinely have believed the truth of any of statements in PRs issued by REVO. (bold un provable opinion) (they are not experienced professionally trained Phsychiatric evaluation specialists who can prove Mental State going back several years without examinations, and at a specific previous point in Time.)

Here are a few to illustrate the point:

The sale of cameras in February 2011. Never happened.
That' sale' was to another company linked to Solomon Ali, (Linked How) and that company never had the slightest prospect of concluding a deal. (The Financing fell Through on the Buyers end as Documented. One of the Cameras was used as a Prototype for Patent application see mention of Prototype in Patent Application)............NOTE 6 – INTELLECTUAL PROPERTY

The patent number US 7,193644 B2, for the prototype was successfully obtained on March 20, 2007. In accordance with FASB ASC 210-10-05-3,

Development of health care products in 2011. Never happened.
The Health Care system, they were supposedly partnering with, pulled out (why pull out if you were Just SUPPOSEDLY partnered) because they couldn't do clinical tests (supposedly Fake, but set up for Clinical Tests) when REVO failed to come up with a product for testing. (Lots of PINK expansion plans fall through, REVO obviously was not the Front line Producer of any Medical product and it was up to the outsourced Manufacturer to supply REVO with a Sample for TRIALS. Correspondence and Records would be needed to make that prove up of "WHY IT NEVER HAPPENED" )

Commitment of $1m development capital by Rainco Industries. Never happened.
Rainco (a company controlled by Solomon Ali)(Just not at that point in Time) generated cash by selling REVO promissory notes. The cash was used to pay operating expenses, and nothing (except EyEtalk and additional Patents) was developed. (Promissory notes to back CASH received can are ARE often SOLD to 3rd Parties, Allowed and Legal and Common).........Rainco Industries, Inc is A Group Of Investors With A Portfolio Of Assets Exceeding 100 Million Dollars. Rainco Operates As A Consulting Firm, Which Services Small To Medium Sized Private And Publicly Traded Companies In The Areas Of Corporate Structure, Financing, Mergers & Acquisitions, Investor Relations, And Brokerage Referrals. We Have Access To Over 2000 Partners Ranging From Institutional & Commercial Banks, Insurance Companies, And Private/public Funds Both Domestic And International.

Design phase of a product. Never happened.
REVO has never had a product. And has never come close to having a product. (and they Licensed this NEVER HAD product to Alarm Force ??)...........NOTE 6 – INTELLECTUAL PROPERTY

The patent number US 7,193644 B2, for the prototype was successfully obtained on March 20, 2007. In accordance with FASB ASC 210-10-05-3,

Acquisition of Greenwood in 2013. A misrepresentation.
Greenwood has never provided the assets or income it was supposed to have.
It later turned out that the company was formed, by Solomon Ali, 3 months before the acquisition (his name appears where in Rainco in 2012)(March 5, 2009. Solomon Ali resigned as CEO of Rainco Industries Inc., . Although, Solomon Ali has served as a consultant to Rainco Industries Inc., he is not familiar with all of the internal management and operations of that company)., as a spin-off from Rainco industries. The accounts showed it had no assets (7 Million in Recievables) , had never traded (it's an LLC not a Ticker) and had no actual income (7 Million in Recievables).

Purchase of sole licensing rights by a subsidiary of an established company. (What did they represent as to When it was Established) A misrepresentation.
The identity of the licensee was masked behind an NDA (NDAs are Binding agreements of NON DISCLOSURE) for months. Then it turned out that the company was formed by an associate HOW LINKED as an PRIOR ASSOCIATE of Solomon Ali.(unless from development of EYETALK SOFTWARE) It has no evidence of any assets or income. (an LLC not privy to Public Disclosure not required to show evidence, but able to Finance Court fillings and Litigation Costs, and Secure a Settlement Agreement for License and Royalties).......www.eyetalk365.com/

Payment of $900k in "consideration" by Eyetalk365 LLC.
The "consideration" turned out to be $900k in loan notes (as reported) that Eyetalk supposedly (Cancelled notes are Paid notes! Reported and Previously on REVO BOOKS as DEBT) paid on behalf of REVO (to take a DEBT off the books). Those loan notes had been created by, and issued to, Solomon Ali and Ron Carter (actual DETAILS/Circumstances Unknown). No cash ever passed hands as part of this "consideration" (satisfaction of DEBT proves up PAYMENT) (Sad but true if I won/was given a NEW car and paid NO cash, I still must report it as INCOME)

Line of credit agreement entered into by (an LLC), REVO subsidiary, Greenwood (but still an LLC).
It turns out that Greenwood, which was a Rainco spin-off (So that was disclosed) ) in 2013 (yet reported earnings in 2012), received a line of credit, from Rainco, in 2015. There is no third-party involved (you know this as Fact. You have no access to Rainco documents), and there is no evidence that Rainco could (not) actually provide the credit. (EXCEPT THE Agreement Paperwork between Rainco and Greenwood LLC)(and would require an Investigasion of RAINCO Ali has not been on Rainco board for Several Years and has No control of Rainco)

Those are just a few red flags that will have attracted (Pure Speculation)the SEC. It will be easy to show (HOW AND WHEN) that REVO issued deliberately (PURE UN PROVABLE SPECULATION) misleading PRs to investors (investors are already invested). And it shouldn't be (but WOULD be) difficult to prove fraudulent intent. (as things always Fall into Place for a DEVELOPMENT STAGE COMPANY?? if they don't it is not FRAUD).........JUST A FEW, WHAT ELSE DO YOU Think is PROVABLE