Revolutionary Concepts, Inc. (REVO), the once pumped penny stock by Awesome Penny Stocks’ affiliates over at Victory Mark Ltd., is back on the scene and taking matters into their own hands. Announcing late Friday their plans to buy back some 130,000,000 shares of REVO stock despite having a $0 balance in cash on their last Q filing, Greenwood Finance Group, a subsidiary of the mobile video software and remote security communication systems developers is looking to use their cash they recently received. Be it that 130,000,000 shares would be a pittance of the apparent $10,000,000 line of credit they were so graciously approved for at the start of the month, a real Revolutionary Concept would be to actually do something that makes some money.
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REVO Stock Quote
Market Cap: 2.97M
Last: 0.0060 ▲ +0.0007 (+13.21%)
Dollar Volume: $32,037
14-Day RSI: 49.29%
1st Resistance Point: 0.0068
1st Support Level: 0.0055
52Wk High: 0.0335
52Wk Low: 0.0009
Back on May 7 of this year, the once semi-strong affiliates of Awesome Penny Stocks, Victory Mark Ltd. out of Belize, issued alerts on REVO stock and witnessed their once powerful ability to drive up a stock price be dwindled down to the strength of a wet noodle. Shares of REVO stock did trade the volume level recipients of the REVO alerts would have expected, but the share price failed to move much higher than 0.01, 0.0107, before seeing a return back down to as low as 0.0033 just a few session later.
At the end of May, the Company released an announcement stating that they filed their Quarterly Report on Form 10-Q for its first quarter ended March 31, 2014 which reported net income of $774,106 thanks to an “upfront fee of $900,000” which stemmed from a global licensing agreement to commercialize their patented wireless security alarm services system. Their wasn’t any figures filling up the revenues portion of the statement, but their was a “Forgiveness of notes payable and accrrued interests” line item which had a $992,124 amount tagged to it which seems to be a weird way to report funds received in advance due to an agreement.
The website for Revolutionary Concepts claims the company to be a “generator of sophisticated, ground-breaking concepts of cutting edge, 21st century applications” which “through innovation and ingenuity, our patented and patent-pending products impact broad markets and represent superior design concepts that meet the need and demands of our technology-driven world.” That statement, in and of itself, is a pipe dream to say the least considering that ever since the shell company was set up back on March 12, 2004, not one single penny has ever been booked for revenues.
The announcement from July 2 that the Company, thanks to their $10,000,000 credit facility secured by their wholly owned subsidiary, Greenwood Finance Group, stated that the funds were to be earmarked for capital investments, acquisition of distressed financial assets, and to provide short-term financing to small and mid-cap companies. How a company with over $4.6 million in debt, no cash and no revenues can secure more than double that based on what comments Senior Vice President, Solomon Ai says is, in and of itself, a Revolutionary Concept all on it’s own.
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About REVO Stock
Revolutionary Concepts, Inc. is a development stage company positioned to begin launch and license of its patented EyeTalk® smart camera technology.
Issued and Outstanding: 650,087,493
Last 5 Trading Sessions:
The news of $20,000,000 in revenues and $5,000,000 in profits from the start of the month was barley enough to even make a dent in the REVO stock volume, let alone drive up the share price as it collapsed from 0.0085 to 0.005. With sub penny stocks always on the radar screens for traders during the summer, it wouldn’t be surprising to see the Company announce an investment into an MJ facility or something to that Revolutionary Concept to help drive attention to REVO stock since it’s been a huge loss since Victory Mark got tagged to it.