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Revolutionary Concepts Initiates Contact with its Major Shareholders to Repurchase its Common Stock(eTeligis.com Via Acquire Media NewsEdge) CHARLOTTE, NC, United States, via eTeligis Inc., 07/18/2014 - - Revolutionary Concepts Inc., (OTCPink: REVO), a publicly traded company that develops mobile video software and remote security communication systems, announced that it has started to make contact with some of its major shareholders in its efforts to make repurchases and buybacks of REVOs common stock. The Companys management has reviewed its shareholders list to make initial contact with all major shareholders who own 5% or more of REVOs outstanding shares of common stock. The Company recently announced that it may make repurchases of its common stock either in open-market purchases or in privately negotiated transactions. Its subsidiary Greenwood Financial Group is planning to make major repurchases and buybacks of REVOs common stock. Greenwood may re-purchase up to 20% or 130,000,000 shares ofREVOs650,087,493outstanding shares of common stock. The primary objective of repurchasing the shares is to provide an increased investment opportunity and greater returnsand value to its shareholders.REVO intends to cancel any common shares acquired through any repurchases and return them to the corporate treasury. Initially the Company intends to open discussions with its major shareholders, holding approximately 5% or more of REVOs outstanding common shares, who may agree to support the Company in its efforts to buy back some of their shares. REVOs Senior Vice President, Solomon Ali states,We are very excited about moving forward with these initiatives to buy back some of the Companys stock. We believe these reflect our confidence in the long-term growth and value of REVO, and its future financial performance.Greenwood isforecasting that $10 to $20 million in annual revenues and an estimated $5 million in profit could be generated from its plannedinvestments. Some of that profit could be used tomake major repurchases of REVOs outstanding shares of common stock. Based on our current stock price, we believe this presents a very attractive investment opportunity for REVO. (Solomon AlisYouTubechannel) https://www.youtube.com/channel/UC4VGHbRsbkgpOlAuK9uR-Ig REVO and/or Greenwood Finance Group may periodically consider stock repurchases as a capital investment. The Company and/or Greenwood may buy shares on the open market or in privately negotiated purchases. With Board approval, the timing and amount of any shares repurchased will be determined based on the Company's evaluation of market conditions, stock price, corporate and regulatory requirements, economic conditions and other factors.Repurchases will be made in compliance with all SEC rules and other legal requirements and may be made in part under a Rule 10b5-1 plan, which permits stock repurchases when the Company might otherwise be precluded from doing so. Any open market purchases will be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. AboutRevolutionary Concepts Inc. REVOs primary business is the design and development of theEyeTalkCommunicator technology,a mobile video, remote smart camera security technology. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiplethreatsincluding robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology.REVO holds patented and patent pending applicationsthat utilize the technology in medical/healthcare, sporting events, child monitoring and several other key areas.For more information visitwww.revolutionaryconceptsinc.com. Safe Harbor Statement- There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Revolutionary Concepts Inc.s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward lookingstatements, whether as a result of new information, future events or otherwise, except to the extent legally required. For inquiries contact: Media Relations: Solomon Ali at 980-225-5376 Copyright eTeligis Inc. 2014. All rights reserved. |