|By Marketwired .||
|July 2, 2014 02:20 PM EDT||
CHARLOTTE, NC -- (Marketwired) -- 07/02/14 -- Revolutionary Concepts Inc., (OTC PINK: REVO) (PINKSHEETS: REVO), a publicly traded company that develops online mobile video software and remote security communication systems, announced that its subsidiary Greenwood Finance Group has signed an agreement with a funding company for a $10 million line of credit. REVO's, wholly owned subsidiary, Greenwood Finance Group, has secured a $10 million credit facility to aggressively expand and grow the operations of Greenwood and Revolutionary Concepts.
The agreement allows Greenwood to partner with a very strong company that is managed by knowledgeable and highly experienced professionals in the financing services and investment banking industry.
The proceeds for the credit facility will be used for capital investments, acquisition of distressed financial assets, and to provide short-term financing to small and mid-cap companies. The facility will be a senior term loan credit facility with an initial two year term containing financial covenants and conditions that are consistent with industry standards. REVO's Greenwood Finance Group is forecasting $10 to $20 million in annual revenues by maximizing the use of the line of credit. REVO could earn an estimated $5 million in profit annually from the investments generated through the credit line.
The capital funding will provide Greenwood the ability to purchase and acquire alternative and undervalued financial assets and grow the size of its expanding portfolio. Greenwood plans to evaluate 25 to 50 small to mid-cap companies each quarter to acquire their assets or to provide financing. Greenwood anticipates closing transactions with 10% to 20% of the targeted companies, subject to its satisfactory due diligence and final approval.
REVO's Senior Vice President, Solomon Ai says, "Securing this $10 million revolving credit facility is a monumental step in the history of REVO and Greenwood and should help fund our growth initiatives. We believe we could generate an estimated $5 million in annual profits from this new credit facility. Greenwood plans to acquire strategic distressed and undervalued financial assets at a fifty percent discount or more, which could potentially generate returns of 100% or more. The agreement with the company that provided the credit facility does not allow us to disclose their name at this time. The forecasted annual revenues to be generated is in the $10 to $20 million range. The potential earnings from the use of this credit facility is estimated at $5 million annually. Although we cannot guarantee an actual valuation, according to industry valuation standards using average P/E ratios from Standard & Poor's at a multiple of 15 times earnings, a valuation of $75 million dollars is an estimate of the potential additional market value of the earnings to REVO."
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.
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