CHARLOTTE, N.C., Aug. 31, 2011 (GLOBE NEWSWIRE) -- Rainco Industries Inc. (www.raincoindustries.com) announced today that after one year of a consulting role with Matthews, NC based Revolutionary Concepts, Inc. (OTCBB:REVO) (Frankfurt:9RV), Rainco Industries intends to invest a proposed $1,000,000 (one million dollars) in Revolutionary Concepts over the next twelve months.
The proposed investment will significantly increase Rainco Industries' current holdings in Revolutionary Concepts while insuring the implementation of Revolutionary Concepts' product development plan. "A year of due diligence and analysis has led us to believe Rainco Industries is seizing an opportunity to invest in the early stages of a company with significant growth potential. Our group is thrilled with the diversity of the EyeTalk technology opening doors to multiple revenue streams and investor opportunities," says Nicole Singletary, Asset Manager for Rainco Industries.
"Rainco Industries consultants have guided Revolutionary Concepts through a complete restructuring striving to make the company more attractive to investors. We now feel the company is poised for long term growth as it approaches the development phase of its patented EyeTalk technology offering 'piece of mind solutions' for today's busy families. Our relationship is not only a benefit for the two companies but also for the shareholders of RCI who will now realize increased value as RCI moves to the product development phase," states Solomon RC Ali, Sr. VP Investor Relations for Revolutionary Concepts.
"The versatile applications developed from RCI's technology and patents are cutting edge and will revolutionize the security and medical services industries leading the way for additional applications including children's products. The proposed funding will give us the ability to move from the research & development to the product development phase. In addition, RCI will now seek to contract a technical team that is both experienced and highly knowledgeable of the EyeTalk product landscape and infrastructure", states Ronald Carter, CEO Revolutionary Concepts.
About Rainco Industries Inc.
Rainco Industries Inc. is a consulting firm that, along with a group of investors and affiliates, services small to medium sized private and publicly traded companies in the areas of corporate structure, financing, mergers & acquisitions, investor relations, and marketing. We have access to over 2000 partners ranging from institutional & commercial banks, insurance companies, and private/public funds both domestic and international. Our goal is to provide comprehensive services that take the client through various phases of business development including research & development, financial reporting, debt structuring, strategic marketing/placement, and public relations. Rainco has offices in Atlanta, GA and Charlotte, NC. Solomon RC Ali was the founder of Rainco Industries and serves as a consultant for the company. www.raincoindustries.com
About Revolutionary Concepts, Inc.
Revolutionary Concepts, Inc. is a development stage company focused on the design and development of the Eye Talk Communicator. It serves as an entry management system and gives 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 for the device include medical applications, sporting component, and infant care technology. Revolutionary Concepts Inc. is headquartered in Matthews, NC with consultants located throughout the United Sates. www.revolutionaryconceptsinc.com
This press release may contain "forward-looking statements." Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements may include, without limitation, statements about our market opportunity, strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot predict the effect that market conditions, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and factors described in our filings with the Securities and Exchange Commission may have on our results. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.