CHARLOTTE, N.C., Sept. 22, 2014 (GLOBE NEWSWIRE) -- Revolutionary Concepts Inc., (OTCPINK:REVO), a publicly traded company that develops online mobile video software and remote security communication systems, announced that it is gearing up for major growth in an effort to build a multi-million dollar company in the rapidly growing billion dollar online mobile security alarm services and video gaming industries.
REVO signed a multi-year global licensing contract with a company to commercialize its patented "EyeTalk Communicator" wireless mobile security alarm services system. The terms of the Agreement include future improvements to the technologies, the right to sublicense the patents, and the right to protect the patents from infringement to recover any royalties and licensing fees due REVO. The Licensee is moving forward in many of these areas. REVO is forecasting $20 million to $30 million in estimated annual revenues from the residual and ongoing licensing fees and royalties that are projected to be generated from the global license agreement.
REVO is planning to modify the "EyeTalk System" for use on a cloud-based platform, to enable users to manage, monitor and control their residential and commercial security system from anywhere in the world. The system could allow for real-time virtual two way communications in streaming video, which could be disruptive in the industry and make many existing alarm security monitoring services obsolete.
REVO, with its joint venture partner is moving forward to exploit its patent for a "Smart Toy" technology, and a child video gaming product capable of monitoring and two-way communication. It plans to take advantage of this growing market. According to Gartner Research, the demographics of video games have become so diverse and lucrative that it estimates the worldwide video game market generated $93 billion in revenue in 2013.
REVO's President, Ronald Carter says, "We are very positive about the future outlook of REVO. We look forward to the full exploitation of our patents in the mobile online security alarm services and video gaming industries. We believe our technologies could interface well with some of the mobile communications technologies being developed by firms such as Google, Amazon, Apple and others. We feel we are poised to generate solid revenues and create greater value for our shareholders. We will be making some other important announcements about the Company shortly."
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.
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.
CONTACT: Media Relations: Solomon Ali at 980-225-5376Source:Revolutionary Concepts Inc