CHARLOTTE, NC -- (Marketwired) -- 06/24/14 -- Revolutionary Concepts Inc. (OTC Pink: REVO) (PINKSHEETS: REVO), a publicly traded company that develops mobile video software and remote security communication systems, announces that its subsidiary, Greenwood Finance Group, LLC, has signed a Letter of Intent and is working on a Definitive Agreement that would provide a Ten Million dollar line of credit to fund its revitalized investment operations.
Greenwood Finance Group has spent the last year evaluating the changes in the current OTC market place and developing a marketing strategy that identifies and evaluates companies in need of assistance in growing their operations and remaining current with all listing requirements.
Solomon Ali, Sr. Vice President, states, "Greenwood's new funding agreement not only provides an opportunity for Greenwood to offer positive investment options with its clients, it also positions Greenwood for a joint venture opportunity with a firm seeking a private equity partnership with a strong data base. This news comes on top of recent meetings held between Greenwood and its original investors who owe the company seven million dollars in receivables. During those meetings, officers of Greenwood expressed the urgency of each of the investors to begin making interest payments on its obligations to the company. Discussion also involved the consideration of an effort to use interest payments to purchase shares of the parent company from the open market."
He goes on to state, "Revolutionary Concepts has patiently observed the changes within our subsidiary and are very excited about current events. We believe all of the major issues with Greenwood's position in the market place have been addressed and this new line of credit brings Greenwood the opportunity to participate in much larger investments with companies with seasoned operations. We look forward to hearing more from Greenwood in the coming months."
About Revolutionary Concepts Inc.
REVO's 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.
About Greenwood Finance Group, LLC.
Greenwood Finance Group is a private equity firm consisting of a team of individuals who understand the work that goes into developing businesses in their beginning stages. Greenwood Finance Group provides broad-spectrum investment and capital services to small-cap and micro-cap companies; strategically positioning them for long-term growth and profitability. Greenwood delivers, through our global network of investment partners and private equity groups, the capabilities to quickly tailor funding solutions that meet the unique needs of each client which can be tailored to a client's capital funding needs so it can focus on growing the company.
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.