Charlotte, NC, United States, via eTeligis Inc., 06/04/2014 - - Revolutionary Concepts Inc., (OTC Pink: REVO) (PINKSHEETS:REVO), a publicly traded company that develops online mobile video software and remote security communication systems, announced that its global Licensee partner has engaged one of the top law firms in the country to assist in the negotiations to sublicense REVO's patented EyeTalk Communicator System to other companies. The law firm is one of the largest in the country that specializes in negotiating patent agreements, collaboration deals and intellectual property to sublicense to other companies.
On February 14, 2014, REVO announced that it signed an agreement with a company that acquired an exclusive global license from REVO to commercialize REVO's online patented wireless mobile security alarm services system. REVO is forecasting $20 million to $30 million in total estimated annual revenues from residual and ongoing licensing fees and royalties that could be generated from its global license agreement. REVO could receive an estimated 40% of the total, or $8 to $12 million annually.
The Licensee is working aggressively to commercialize and sublicense REVO's patented "EyeTalk Communicator System" to other companies to generate licensing fees and royalties. This would give the sublicensees the right to exploit, produce and incorporate the technology into their products and market them to their customers. This would allow REVO and its primary Licensee the ability to fully exploit and maximize the potential financial revenues and profits that could be obtained from the patents and licensing agreement.
REVO's "EyeTalk Communicator" system is a revolutionary wireless mobile video, remote smart camera security technology. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiple threats including robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology. The EyeTalk system will also interface with smart devices such as IPhone, IPad, Blackberry and Andriod.
Solomon Ali, REVO's Senior Vice President says, "We're very excited about engaging one of the top law firms to assist us in negotiating the sublicensing agreements. Using a firm with their caliber and years of experience will help us move forward rapidly in maximizing the full value and potential of our global license agreement. Some of the companies we feel that could potentially use our technology in their communication technologies are, Amazon, Apple, AT&T, Time Warner, Google, CPI Security, GE and others. We will provide more information on the progress we're making to the public as we move forward to fully exploit our patented technology."
About Revolutionary Concepts Inc.
REVO is primary business is the design and development of the "EyeTalk" Communicator technology, a mobile video, remote smart camera security technology. The system is designed to provide nationwide protection and monitoring of homes and businesses against multiple threats including robbery, fire, theft, burglary and other intrusions through mobile phones, wireless video and remote smart camera security technology. REVO holds patented and patent pending applications that utilize the technology in medical/healthcare, sporting events, child monitoring and several other key areas. For more information visit www.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 looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.
For inquiries contact:
Media Relations:
Solomon Ali
704-837-5705
SOURCE: Revolutionary Concepts, Inc.
Associated Documentation:
Link to submission on http://www.eteligis.com
REVO_6-4-2014_ALD_ETL_CORRECT.docx
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