CHARLOTTE, N.C., Sept. 25, 2013 (GLOBE NEWSWIRE) -- Revolutionary Concepts, Inc. (OTCBB:REVO) (www.revolutionaryconceptsinc.com), a company focused on the design and development of intellectual property (IP) rights, and trade names such as Eye Talk Communicator, confirms it received a rejection from its Board of Directors concerning a request to increase the authorized shares of the Company.
The Board of Directors, in a unanimous vote, elected not to approve a resolution increasing the authorized shares of the Company due to concerns over perceived further dilution of shareholders.
Senior Vice President Solomon RC Ali states, "After much discussion, the Board feels that at the present time it would not be in the shareholder's best interest to increase the authorized shares of the Company. We also feel our shareholders may perceive an increase as a dilution of their position, regardless of the potential benefits. With the sale of the patents, the same results could be achieved without increasing the authorized shares."
About Revolutionary Concepts, Inc.
Revolutionary Concepts, Inc. is a development stage company focused on the design and development of intellectual property (IP) rights, and trade names such as Eye Talk Communicator. We currently have 7 patents registered with the USPTO, with others pending. Our first 7 patents that have been awarded are related to an entry management system and give users the ability to remotely and interactively monitor via two-way communication and control an IP camera while using a personal communication device. Additional uses our IP include are medical applications, and infant care technology. Revolutionary Concepts Inc. is headquartered in Charlotte, NC with consultants located throughout the United Sates. 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.