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Revolutionary Concepts Announces Major Proposal for Cash or 10% Stock Dividend to Reward Shareholders
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Revolutionary Concepts Inc. (QB) (USOTC:REVO)
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Today : Monday 10 February 2014
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Revolutionary Concepts Announces Major Proposal for Cash or 10% Stock Dividend to Reward Shareholders
CHARLOTTE, NC--(Marketwired - Feb 10, 2014) - Revolutionary Concepts Inc. (OTCQB: REVO), a publicly traded company that develops online mobile video software and remote security communication systems, announced that its Management has presented a proposal to the Board of Directors to distribute a cash dividend or a common stock dividend to its shareholders on a 10 for 1 basis.
The plan would pay either a cash dividend, or issue one share of common stock for every ten shares of common stock held by the shareholders. In the event a stock dividend is issued, the shareholders would be entitled to receive one share of common stock for every ten shares that they own. Subject to final approval from its Board of Directors, the required documentation will be filed with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA), the largest independent regulator for all securities firms doing business in the United States.
REVO is in final contract negotiations with a company for it to obtain a worldwide licensing agreement for REVO's patented "EyeTalk Communicator System." REVO is considering several proposals to bring more value to its shareholders, including plans to significantly reduce its $3.48 million in total liabilities, improving its balance sheet and special dividends in cash or stock, subject to SEC guidelines.
REVO's Senior Vice president Solomon Ali states, "Our Management believes that it's time to reward our loyal shareholders for their continued support and to provide them with a much larger equity stake in our Company. We feel a dividend sends a strong signal about the future growth and outlook of our Company. In the coming weeks, we will provide our shareholders with more strategic information that may bring greater value to them and the investment community."
REVO developed the "EyeTalk Communicator," a wireless online 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. |
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