Last $0.0053 USD
Change Today -0.0006 / -10.17%
Volume 2.8M
As of 2:57 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

revolutionary concepts inc (REVO) Snapshot

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52 Week High
02/14/14 - $0.03
52 Week Low
08/21/13 - $0.0009
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revolutionary concepts inc (REVO) Details

Revolutionary Concepts, Inc., a development stage company, develops and licenses smart camera technologies that interface with smart devices enabling remote monitoring, and new childrens car seat technologies. It intends to commercialize EyeTalk Communicator, a smart camera security technology that provides 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 company intends to market EyeTalk Communicator directly to distributors and end users, such as hospitals, banks, and government agencies concerned with homeland security. It also offers funding solutions, and investment and capital services to small-cap and micro-cap companies, as well as consultation services to businesses. Revolutionary Concepts, Inc. was founded in 2004 and is based in Charlotte, North Carolina.

revolutionary concepts inc (REVO) Top Compensated Officers

Founder, Chairman, Chief Executive Officer an...
Total Annual Compensation: $200.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: --
Senior Vice President of Corporate Finance & ...
Total Annual Compensation: $200.0K
Vice President and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

revolutionary concepts inc (REVO) Key Developments

Revolutionary Concepts Signs Agreement with Company for $10 Million Credit Facility

Revolutionary Concepts Inc. has signed an agreement with a funding company for a $10 million revolving line of credit for capital funding. The agreement allows Greenwood to partner in business with an experienced company in the financing services and investment banking industry. The terms of the agreement includes among other things; the facility is a senior term loan credit facility; the credit facility has an initial two year term; the agreement has other financial covenants and conditions which are consistent with industry standards. The proceeds for the credit facility are intended to be used for working capital, investments, acquisition of distressed financial assets, and to provide short-term financing to small and mid-cap companies. The capital funding will provide Greenwood with the ability to purchase and acquire alternative undervalued financial assets of other companies to grow the size its expanding portfolio.

Revolutionary Concepts Mulls Acquisitions

Revolutionary Concepts, Inc. (OTCPK:REVO) is seeking acquisitions. Revolutionary Concepts is raising $10 million credit facility and plans to use part of funds for acquisitions too. Revolutionary Concepts said, "The funds for the credit facility will be used for working capital, acquisitions of other companies in the financial services industry, and for its plans for future growth and expansion."

Revolutionary Concepts, Inc. Announces Earnings Results for the First Quarter Ended March 31, 2014

Revolutionary Concepts, Inc. announced earnings results for the first quarter ended March 31, 2014. For the quarter, net income was a total of $774,106, compared to a net loss of $237,757 for the same period ended March 31, 2013. This represents a total increase of $1,011,863, or 325.99% for the period ended March 31, 2014, as compared to the same period ended March 31, 2013. This gain is primarily attributable to decreases in loss on derivatives, interest expenses and the consideration received by the company as part of the global licensing agreement the company entered into, and was also offset by increases in operating expenses. Net cash used in operating activities was $45,736. The company has generated limited revenue since its inception, due to it being a development stage company, and in its efforts in developing its patented technologies for sale or licensing.


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